Global Gas Analyzer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Gas Analyzer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Global Gas Analyzer Market is expected to register a CAGR of 4.6% during the forecast period. The need for a longer lifespan, maintenance-free products, and cost competitiveness are the primary needs of the gas analyzer market. In addition, high price sensitivity, demand for highly reliable products, and a higher degree of innovation are expected to influence the market studied during the forecast period.

Key Highlights

• The proliferation in the use of handheld devices has led to developments in the field of gas analyzers, which has considerably widened the scope of application across multiple end-user segments.
• Currently, some of the prominent companies are developing the gas analyzer segment, having applications in clinical assaying, environmental emission control, explosive detection, agricultural storage, and shipping, along with workplace-hazard monitoring.
• The continued growth of the market is anticipated owing to the increasing demand for vital driver information, tighter safety controls, and more sophisticated engine management systems to improve fuel economy and reduce emissions. For instance, in January 2022, SuperFlash LLC, a manufacturer of compressed gas safety and management, announced the launch of their latest mobile and compact gas analyzer named GA300. This latest product from SuperFlash LLC not only allows for precision analysis of gas mixtures but provides further advantages such as the ability to record, document, and integrate into the quality assurance process. The GA300 utilizes state-of-the-art sensor technology and software solutions to perform exact analysis using the thermal conductivity principle.
• Additionally, safety awareness is on the rise across various end-user segments due to the increasing number of fatal accidents related to gas leakages and explosions. This is leading to many workers insisting on the use of sensor device components equipped with gas detectors and analyzers.
• Moreover, according to a report by WHO on Ambient (outdoor) air pollution, released in September 2021, 99% of the world population lived in areas where air quality standards set by the WHO was not met. The growing focus of the governments on improving the air quality index (AQI) will also drive the adoption of gas analyzers across various verticals globally.
• Globally, chemicals and pharmaceutical companies are expanding, which may increase the deployment of gas analyzers in the industry. For instance, in May 2021, Thirumalai Chemicals, one of the largest chemical producers in the world, announced plans to execute a project to manufacture 18,000 tons of phthalic anhydride (PA) and 30,000 tons of fine and specialty chemicals per year. Such expansion projects are expected to continue fueling the demand for gas analyzers during the forecast period.
• The COVID-19 outbreak has resulted in the shutdown and halt in the production of industries worldwide, with a minimum number of employees working in the industries to monitor any dangerous activities. Furthermore, during the pandemic, the demand for blood gas analyzers has increased significantly. Blood gas analyzers are essential equipment in the fight against COVID-19, as they are used to assess and monitor critically ill patients. Gas analyzers provide valuable measures of blood oxygenation and acid-base balance and the lungs' efficacy in gas exchange.

Key Market TrendsOil and Gas Segment to Hold Significant Share

• Protecting a pressurized pipeline from leaks and corrosion while minimizing downtime are some of the key responsibilities in the oil and gas industry. According to NACE (National Association for Corrosion Engineers), the oil and gas industry suffers a cost of over USD 1.6 billion per year due to corrosion.
• Mitigating such expensive costs is one of the propellers for adopting gas analyzers for preventive actions in the industry. A gas analyzer helps in monitoring leaks, extending the life of pipeline systems by detecting the presence of such gases effectively. Additionally, the oil and gas industry is moving toward the TDL technique (Tunable Diode Laser), which enables the reliability of detecting with precision because of its high-resolution TDL technique and avoids interferences that are common with traditional analyzers.
• According to International Energy Agency's (IEA) Oil 2021 report, the global oil consumption is expected to reach 104.1mb/d, which would be an increase of 4.4md/d above current levels. The detection and monitoring of hydrogen sulfide and carbon dioxide is pertinent in natural gas processing. According to IEA, although the global demand for natural gas declined in the year 2020, this demand is expected to recover 3.2% in 2021, eliminating losses from 2020 and increasing demand by 1.3% above 2019 levels. Therefore, the increasing oil and gas reserves are estimated to drive the adoption of gas analyzers globally.
• The presence of oxygen in the gas sample determines leakage in the pressurized pipeline system. The continuous and undetected leak may worsen the situation while impacting on operational flow efficiency of the pipeline. Moreover, the presence of gases, such as hydrogen sulfide (H2S) and carbon dioxide (CO2), in the pipeline system reacting with oxygen can combine and form a corrosive and destructive mixture that can deteriorate the pipeline wall inside out.
• The alliances formed by the companies, organizations, and countries are aiming to reduce methane emissions within the oil and gas industry. According to the United Nations, 24% of all manmade methane emissions are caused by leakages in the oil and gas production systems. Many countries globally are joining the global alliance in order to commit to either absolute methane reduction targets of at least 45% by 2025 and 60%-75% by 2030 or to a ‘near-zero’ methane intensity target.

Asia-Pacific to Witness a Significant Growth

• Asia-Pacific is the key region to register capacity growth in the oil and gas industry in recent years. According to EIA, various refining projects are scheduled in the region between 2022 and 2023, through which 1120 thousand barrels per day of refining capacity will be added by China alone.
• The increase in the demand for low-cost, high-precision products across developing countries, such as India, China, and Japan, is expected to boost the market's growth. Furthermore, the increased enforcement of government regulations from China, Japan, and South Korea has encouraged companies to invest in sophisticated gas analyzers. Thus, companies are willing to invest in safety systems rather than facing disasters.
• Government agencies in the region have been taking proactive measures to enforce the use of gas analyzers in potentially hazardous locations. They are a vital cog for triggering emergency procedures across industries in case of an abnormal rise in the concentration of gases that are actively used for monitoring the air quality and detection of combustible gases, majorly in the chemical, industrial, medical, and automotive industries.
• Mining is one of the challenging industries regarding worker safety. Several hazardous gases are the products of mining and mineral processing that must be continuously monitored. ​India's mining sector is extremely valuable and growing faster as the industry is heavily regulated, and many industries rely on this industry for essential sources. The propelling demand for portable gas analyzers in the mining industry is driving market growth.
• Furthermore, gas analyzers are also being used to analyze the pollution levels across a city. In countries like China and India, pollution levels are at an all-time high, leading to gas analyzers being deployed to monitor and control pollution levels. As the industrial sector in countries like India, China, and Japan is developing faster, this factor is driving the demand for market growth.

Competitive Landscape

The Global Gas Analyzer Market is very competitive in nature. The players are focusing on expanding their consumer base across the world. Some of the significant players in the market are ABB Ltd, Honeywell International Inc., Emerson Electric Co., Servomex (Spectris PLC), Teledyne Advanced Pollution Instrumentation (TAPI), Siemens, Thermo Fisher Scientific Inc., and many more. The companies are increasing the market share by forming multiple partnerships and investing in introducing new products to earn a competitive edge during the forecast period.

• June 2022 - ABB partnered with Wison Offshore & Marine. The partnership aims to develop floating liquefied natural gas facilities to support the rapidly growing global market and develop and implement floating liquefied natural gas (FLNG) projects globally. ABB's gas analyzers used in this application are process gas chromatographs which measure the heating value of the Liquefied Natural Gas as it is transferred from the production stations to LNG tankers. These analyzers enhance operational safety, maximize process efficiency and optimize product yield.

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• The market estimate (ME) sheet in Excel format
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