(2019 – 2024) “Gas Analyzer Market” Report studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Gas Analyzer Analysis. The Gas Analyzer market is expected to register a CAGR of approximately 23.52% during the forecast period of (2019 – 2024).
Gas Analyzer Market Report Covers Leading Manufacturers: Emerson Electric Co., Honeywell International Inc., Servomex (Spectris PLC), Teledyne Advanced Pollution Instrumentation (TAPI), Systech Instruments Ltd and Illinois Instruments Inc., Thermo Fisher Scientific Inc., Fuji Electric Co. Ltd., MKS Instruments Inc., Cambridge Sensotec Ltd., Gasmet Technologies Oy, Nova Analytical Systems, Ametek Process Instruments
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The global gas analyzer market was valued at USD 0.39 billion in 2017, and is expected to reach a value of USD 1.41 billion by 2023, at a CAGR of 23.52 %, during the forecast period (2018 – 2023). The regions considered in the scope of the report include North America, Europe, Asia Pacific and Rest of the World.
The Global Gas analyzer is an instrument which is capable of analyzing the species of chemical gases is present in the sample. It, not only identifies the species, but also has capability to give measurement value of the quantity, which it displays either in numerical form or shows it graphically. Owing to factors, such as high maintenance, requirement of air-conditioned shelter rooms, frequent recalibration, and accuracy issues with interfering gases, traditional gas analyzers have become less reliable in measuring low concentration gasses in the oil & gas industries. Moreover, with increased R&D efforts, new technologies, such as TDLA (tunable diode laser) are being developed, which detect and measure gases at a low density of air and offers several measurement advantages, such as highly stable calibration and less cross interference due to the presence of other gases. This has induced a number of oil & gas industries to start adopting TDLAs, which in turn will lead to the growth of the market during the forecast period. Owing to these factors, the market is expected to grow rapidly during the forecast period. However, high costs of these devices may restrain the market growth.
Higher Demands for Portable Analyzers to Significantly Drive the Market
Portability has been an advantage of gas analyzers, as it helps in free movement and testing at potential risk areas is possible without hassle. Many areas, which are difficult to access can be checked for safety, quality, and other factors, owing to portable devices. Recently, ABB implemented Ultraportable Greenhouse Gas Analyzer (UGGA) for accurate measurements of methane, carbon dioxide, and water in the Prudhoe Bay Oil field in Alaska. Portable gas analyzers can be used in real-time environment for the detection of specific components and percentage of a particular component of the gas in the surrounding area. They are increasingly used in oil and petroleum refineries, mining sites to detect the presence of any harmful gas, or to ensure sufficient concentration of oxygen present in the atmosphere for the safety of workforce. These gas detectors are expected to grow with the increased amount of mining activities that occur globally. For instance, Vale has opened the world’s largest mining project for iron ore in Carajas in the Brazilian Amazon region. These large projects are expected to drive the demand for gas analyzers.
Water and Wastewater Industry Accounted for a Significant Share in the Market
Many pollutants contaminate naturally available water sources and the water that has been polluted after use cannot be disposed directly into the environment. The polluted water should be further processed to neutralize its effect on the environment. Water treatment has been growing, owing to the increasing safety concerns raised by a number of governments and increasing awareness among the consumers. The United States Environment Protection Act has mandated municipalities and public water systems to display their annual drinking water quality report. Such stringent rules towards environment have made it a necessary step before dispatch of water, which is expected to drive the growth of gas analyzers in this domain as the consumption increases. Waste-water treatment can be utilized as a platform to produce biogas. Gas analyzers are used in such plants to measure methane, carbon dioxide, and oxygen values to check the quality of bio-gas generated. In a similar case in Finland, a mutigas Fourier Transform InfraRed (FTIR) has been employed in Viikinmäki wastewater treatment plant. This gas analyzer has been used to detect the emissions of greenhouse gases namely methane, nitrous oxide, ammonia etc.
Asia Pacific is expected to be the Dynamic Region in the Market
Gas analyzers are used in many industries, and the growth of industries in APAC region is expected to be on the rise, driving the growth for this market in the region. Asia-Pacific is the only region to register the oil & gas capacity growth in the recent years. About four new refineries were added in the region, which has added about 750,000 barrels per day to the global crude oil production. Development of industries in the region is driving the growth for portable gas analyzers, owing to their use in the oil & gas industry, such as monitoring processes, increased safety, enhanced efficiency and quality. Moreover, the APAC region has the largest older population demographic. ‘Healthy China’ movement was initiated as a part of five-year plan in 2016. As a part of this plan, the country increased its spending on healthcare and senior care services and products. These factors increased the demand for blood gas analyzers, which are used to indicate the amount of soluble oxygen in the blood, etc., from gases evolving from arteries and veins. They help in the detection of respiratory and metabolic issues.
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Reasons to Purchase Gas Analyzer Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- The authentication mode is likely to witness the highest adoption of these systems in the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
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