Gas Analyzers Industry Emerging Trends, Revenue Analysis, and Global Demand
Rapid surge in gas analyzer market is credited to the growing number of application in environment monitoring, power generation and water treatment. In addition, rising demand from chemicals sector, oil & gas industry, and petrochemicals sector is expected to drive the growth of the market over the forecast period. The global gas analyzers market is predicted to generate massive revenue over next five years, providing numerous opportunities for industry participants to invest in research and development of gas analyzers market. Rapid surge in gas analyzer market is credited to the growing number of application in environment monitoring, power generation and water treatment. In addition, rising demand from chemicals sector, oil & gas industry, and petrochemicals sector is expected to drive the growth of the market over the forecast period.
Increasing investment by various regional government around the globe in the measuring techniques for determining the quantitative and qualitative composition of gas mixtures, thus separating chemicals in a complex sample is expected to drive the growth of gas analyzer market over the forecast period. Recent advancement in gas analyzers industry is attributed to the increasing investment for research & development activities from large-scale businesses, particularly in the North American region, thereby solidifying their market position, in the recent years. For instance, government of U.S. has undertaken various business development initiative to help organization for development of innovative product and methodologies in the gas analyzers industry.
Gas analyzers offer critical information, which is essential to perform multiple manufacturing and processing application. Gas analyzers are used to determine materials in numerous research industries. Gas analyzers are also used to enhance overall performance, security and product quality, even as ensuring environment compliance. Stringent legislations and reforms by regional governments to enforce of occupational health and safety regulation is expected to pave the way for robust industry growth over the forecast period.
The market is broadly categorized into five major segments based on the application type such as oil & gas industry, chemical & petrochemical sector, water & wastewater management, pharmaceutical industry, and food & beverage sector. Oil & gas industry segment is growing rapidly in the gas analyzers market with substantial revenue generation in the last few years.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in oil & gas sector, surge in number of research & development activities in the region and existence of well-established industrial infrastructure. In European region, Germany, France, and United Kingdom are projected to witness steady growth due to increasing oil exploration activities and rising number of shale gas plants across the region.
Asia-Pacific region is estimated to hold major share in the gas analyzers industry with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, increasing manufacturing activities, favorable government policies, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the gas analyzers market are ABB Group, The Emerson Electric Co., Honeywell International Inc., Servomex plc, General Electric Co., Figaro Engineering, Inc., and Thermo Fishers Scientific.
Firma: Million Insights
Ansprechpartner: Tom Clark
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