The global gas analyzer market is estimated to grow at a CAGR of nearly 5.0% during the forecast period. The major factors contributing to the market growth include the rising oil and gas industry and rising investment in waster and wastewater projects. As per the International Energy Agency (IEA), in 2019, the global upstream oil and gas investment is $505 billion, a rise of 6% in nominal terms compared to the previous year. The global demand for oil rose by 900 kb/d (Thousand Barrels Per Day) year-over-year in the third quarter of 2019. Approximately three-quarters of the growth reported in China. The demand for oil in India increased to 135 kb/d.
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The global oil demand has significantly led owing to the increasing demand for fuel in automobile and aviation industry. The increasing oil production has increased the adoption of gas analyzers. Gas analyzers are used to identify valuable fracking zones. Mineral layer porosity and rock layer boundaries are some physicochemical characteristics that can considerably affect the oil well efficiency and inform the effective payoff for using hydraulic fracturing. Gas analyzers can be utilized significantly for monitoring of drilling media to assess hydrocarbon distribution, layer properties, fracking zone quality, and petroleum pay zones.
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In this manner, the use of gas analyzers can improve the profits in oil exploration, as well as supports to adhere with the stringent environmental regulations through minimizing the carbon footprint of the oil and gas industry by drastically reducing waste. The applications where such analyzers are used comprise Nitrogen Oxide (NOx) reduction & ammonia slip, continuous emissions monitoring, natural gas quality, ethylene production & purity measurements, and combustion control. Therefore, the rising investment in oil and gas exploration activity coupled with the stringent environmental regulations is offering an opportunity for market growth. Further, technological innovations are expected to further accelerate the adoption of gas analyzers.
Market Segmentation
Global Gas Analyzer Market by Product Type
• Fixed
• Portable
Global Gas Analyzer Market by Technology
• Paramagnetic
• Electrochemical
• Zirconia
• Infrared
• Others
Global Gas Analyzer Market by End-User Industry
• Pharmaceutical
• Oil and Gas
• Energy and Utility
• Chemical
• Food and Beverage
• Water and Wastewater
• Others
Regional Analysis
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
Rest of Europe
Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
Rest of the World
Company Profiles
• ABB Ltd.
• AMETEK, Inc.
• California Analytical Instruments, Inc.
• Cambridge Sensotec Ltd.
• Drägerwerk AG & Co. KGaA
• Emerson Electric Co.
• Enerac
• ENOTEC GmbH
• Fuji Electric Co., Ltd.
• HNL Systems Pvt. Ltd.
• Honeywell International Inc.
• Mettler-Toledo India Pvt. Ltd.
• Nederman Holding AB
• Servomex Group Ltd.
• Siemens AG
• Systech Instruments Ltd and Illinois Instruments, Inc.
• Teledyne Analytical Instruments
• Tenova S.p.A.
• Testo SE & Co. KGaA
• Thermo Fisher Scientific Inc.
• Yokogawa Electric Corp.
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