Asia Pacific Gas Analyzer Systems Market size is set to cross USD 760 million by 2030, according to a new research report by Global Market Insights Inc.
Rising strong focus on enhancing operational and workplace safety will hasten continuous gas analyzer production. Gas analyzers can detect hazardous gases, making them an ideal option for maintaining workplace personnel and homeowner safety. Additionally, stringent norms and regulations have encouraged economies to limit carbon emissions. Nearly all countries in Central Asia, for example, have pledged to curb greenhouse gas emissions as a part of the Paris Agreement. Such initiatives will augment the use of exhaust gas analyzers for carbon capture and other emission monitoring applications.
Increase in carbon emissions to bolster demand for NDIR-based gas analyzer systems
In terms of technology, the APAC gas analyzer systems market from non-dispersive IR (NDIR) segment is expected to record significant growth during the forecast period. Key functionalities such as the ability to distinguish hydrocarbon gases, mainly in low-oxygen conditions, will proliferate the adoption of NDIR-based gas analyzers. Over recent years, the APAC region has witnessed a persistent rise in carbon emissions due to the reliance on fossil fuels. The report claims that these factors will boost gas analyzer installations for continuous monitoring of toxic gases across various industry verticals.
Rising onshore and offshore oil and gas exploration projects fuels gas analyzer production
Asia Pacific gas analyzer systems market value from the oil & gas end-use segment held over USD 170 million in 2021. The implementation of strict government mandates to mitigate carbon emissions in several Asian countries is one of the key drivers for gas analyzer demand across the oil and gas industry. Private and public investments to explore rich hydrocarbon reserves in offshore and onshore environments have also surged in Asia.
To cite an instance, in March 2022, Sinopec announced plans to invest USD 31.1 billion in energy companies to drive oil and gas output. Moreover, the company targeted to invest a total of USD 11 billion in upstream exploitation of crude oil basins in the Shunbei and Tahe fields, as well as natural gas fields in the Sichuan province of China and Inner Mongolia. Such projects will foster gas analyzer development to ensure efficiency, product quality, throughput, and environmental compliance of oil and gas operations.
Browse key industry insights spread across 250 pages with 166 market data tables & 34 figures & charts from the report, “Asia Pacific Gas Analyzer Systems Market Size By Technology (Electrochemical, Paramagnetic, Zirconia (ZR), Non-Dispersive IR (NDIR)), By End-Use (Oil & Gas, Chemical & Petrochemical, Healthcare, Research, Water and Wastewater), COVID-19 Impact Analysis, Country Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2030”, in detail along with the table of contents:
Japan emerges as a prominent destination for gas analyzer system producers
Gas analyzer systems market in Japan is anticipated to depict more than 5% growth rate through 2030, as a result of the high spending on advanced industry infrastructure and the growing GHG emissions. Based on statistics from the BP Statistical Review of World Energy 2022, the country generated approximately 1.05 billion tons of CO2 emissions in 2021, a rise of 2.4% from the 2020 levels. Furthermore, rapid urbanization and the positive outlook toward achieving carbon neutrality will create favorable growth opportunities for gas analyzer instrument producers in the region.
Product range expansion strategies to strengthen the industry outlook
Top companies operating in the gas analyzer systems market in APAC are Thermo Fisher Scientific Inc, AVL List GmbH, ENVEA, DURAG Group, M&C TechGroup Germany, Leybold, METTLER TOLEDO, Yokogawa Electric Corporation, Advanced Micro Instruments, Inc., Emerson Electric Co., HORIBA Group, Siemens, and Fuji Electric Co., Ltd. These leaders are focusing on product range expansions and other strategies to increase their presence in the industry.
For instance, in September 2021, Emerson released a continuous gas emission monitoring system, ROSEMOUNT XE10, designed to aid industrial plants in meeting sustainability demands and addressing strict environmental standards. This product, equipped with automation validation and built-in performance analytics, can ensure accurate emission monitoring and reporting to help plant operators mitigate the risk of shutdowns and non-compliance penalties. This initiative was meant to enable the company to develop a strong presence in the industry.