Global Gas Analyzers Market – Rising Production of Shale Gas to Boost Growth | Technavio
LONDON–(BUSINESS WIRE)–#Automation–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.
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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