Global Gas Analyzers Market - Rising Production of Shale Gas to Boost Growth | Technavio
The global gas analyzers market is expected to grow at a CAGR of close to 4% from 2018-2022, according to a new market research report by Technavio.
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Technavio has published a new market research report on the global gas analyzers market from 2018-2022. (Graphic: Business Wire)
Global gas analyzers market segmentation by end-user and geography
Technavio’s report on the global gas analyzers market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by end-user, which includes oil and gas, chemical, healthcare, power generation, food and beverage, and others. As projected in 2017, over 29% of the market share originated from the oil and gas segment. Gas analyzers find application in the upstream, midstream and downstream segments of the oil and gas industry. They are used in tracing gas purity, perform contamination analysis, compositional analysis, and hydrocarbon analysis.
Based on geography, the global gas analyzers market has been segmented into the Americas, APAC, and EMEA. As of 2017, more than 37% of the market share came from EMEA.
“EMEA is expected to witness an increase in its market share, owing to the adoption of gas analyzers in the cement and water and wastewater treatment industries. The region will also witness an increase in investments from the food and beverage sector which augurs well for the growth of the market,” says a senior analyst from Technavio for automation research.
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Gas analyzers market: competitive vendor landscape
The global gas analyzers market is highly fragmented with the presence of many regional and international players. There are some financially strong players such as ABB, Emerson Electric, Fuji Electric, General Electric, which have high brand value and are diversified into other markets as well, whereas other vendors such as ENERAC are purely into the gas analyzers market. The major players are trying to differentiate their products on price, quality, regulatory compliance, and innovation.
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Other topics covered in the report:
Market drivers:
- Rising production of shale gas
- Increased plant safety and associated regulations and mandates
Market trends:
- Emerging sensor technology
- Wireless gas detectors gaining commercial acceptance
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