Home > Pressrelease > Gas Analyzer Systems Market revenue to hit $4.5 Bn by 2032
Gas Analyzer Systems Market revenue to hit $4.5 Bn by 2032
- Published Date: April 24, 2023
Gas Analyzer Systems Market size is anticipated to reach USD 4.5 billion by 2032, according to the latest research report by Global Market Insights Inc.
The positive outlook toward ensuring operational safety at the workplace is likely to carve a healthy business growth by 2032. Continuous harmful emission of different gases, including carbon monoxide (CO), nitrogen oxides (NOx), methane, and many others, from the iron & steel industry, natural gas processing plants, and industrial forklifts has resulted in serious health issues, leading to accidents in closed & confined areas. The introduction of stern measures regarding workplace safety has propelled product demand across various end-use verticals.
As a result, the prevailing and new infrastructures have observed a greater need for a wide array of safety equipment, including exhaust gas analyzers, NDIR, and oxygen gas analyzers, to minimize operational risks. Besides, stern measures regarding workplace safety have propelled product demand in different industries, which will positively influence the gas analyzer systems market dynamics.
NDIR technology to gain traction due to consistent surge in CO2 emissions
The non-dispersive IR technology segment is poised to garner USD 1.4 billion in revenue by 2032. These systems are capable of distinguishing hydrocarbon gases, especially in low-oxygen conditions. Over the years, the global environment has witnessed a persistent increase in carbon emissions owing to an increased reliance on fossil fuels. The emerging requirement for continuous monitoring of toxic gases will garner the espousal of such gas analyzer systems in several end-use industries, thus propelling business expansion.
Browse key industry insights spread across 340 pages with 349 market data tables & 36 figures & charts from the report, ‘’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) & Forecast, 2023 – 2032’’, in detail along with the table of contents:
Commendable rise in public-private investments to boost product usage in chemical & petrochemical industries
The chemical & petrochemical sector is set to capture 21% of the gas analyzer systems market share by 2032. Stringent government mandates to curb GHG emissions along with increasing private & public investments, are the key factors driving the demand for gas analyzers in this industry. In addition, growing demand for different chemical products & by-products has propelled the investment to set up new processing plants, which, in turn, will increase the product deployment in the new & existing facilities.
Strict environmental regulations to pave a strong growth path for the industry in Europe
The Europe gas analyzer systems industry is speculated to cross valuation of USD 1.2 billion by 2032, led by the stringent norms focused on optimizing risk management for dangerous substances across infrastructures and minimizing operational hazards. Moreover, the measurement of the chemical concentration of a target gas by various chemical reactions in the chemical & petrochemical industry is set to bolster the regional product adoption. Furthermore, accelerating investments in several industry verticals and the need of advanced technologies are set to stimulate product requirement in various end-use industries in the next ten years.
Strategic alliances & mergers to spur industry demand
Key players in the gas analyzer systems market consist of ABB, Fuji Electric Co., Ltd, Siemens, Ecotech, Thermo Fisher Scientific Inc., SICK AG, AVL List GmbH, Bühler Technologies GmbH, ENVEA, DURAG GROUP, Leybold, METTLER TOLEDO, M&C TechGroup Germany, Shimadzu Corporation, Yokogawa Electric Corporation, Advanced Micro Instruments, Inc., DAIICHI NEKKEN CO., LTD., Servomex, HORIBA Group, Emerson Electric Co., WITT-Gasetechnik GmbH & Co. KG, ENDEE ENGINEERS Pvt. Ltd., Hiden Analytical, Nova Analytical Systems, ZIROX - Sensoren und Elektronik GmbH, Signal Group Ltd.
These companies are consistently focusing on expanding their product line to gain access to a broader target market and strengthen their business standing.