In-depth Analysis of the COVID-19 Impact on Gas Analyzer Market Worth 4.06 Billion USD

The Gas Analyzer market was USD 2.78 Billion in 2014 and is projected to reach USD 4.06 Billion by 2021, at a CAGR of 5.7% from 2017 to 2022. In this study, 2015 has been considered as the base year, while the forecast period has been considered from 2016 to 2021.

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In this report, the market sizes have been derived through various research methodologies. In the secondary research process, different sources have been referred to, to identify and collect information for this study on the GASD market. These secondary sources include annual reports, press releases, and investor presentations of companies; associations such as American Gas Association, Online analyzer and fire & gas detection system, Analyzer Professional Group; and white papers, certified publications, and articles from recognized authors. In the primary research process, sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information for this report. The bottom-up approach has been used to estimate the market size, in terms of value. The top-down approach has been implemented to validate the market size, in terms of value. With the data triangulation procedure and validation of data through primaries, exact values of the sizes of the overall parent market and individual markets have been determined and confirmed in this study.

The stakeholders in the GASD market are:

• GASD manufacturers
• GASD traders, distributors, and suppliers
• Raw material suppliers
• Government and research organizations
• Industrial & commercial cleaning agencies
• Agricultural associations

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GASD Market, By Application:

• Oil & Gas and Chemicals
• Buildings & Construction
• Food & Beverages
• Healthcare
• Water Treatment
• Others

The GASD market is undergoing high-value research activities to create new equipment and processes to minimize toxic gas hazards. One of the major problems is the wide price range that makes device choosing and  deriving optimal cost effectiveness very difficult.

Market players such as Honeywell International, Inc. (U.S.), ABB Ltd. (Switzerland), General Electric Co. (U.S.), Emerson Electric Co. (U.S.), Figaro Engineering Inc. (Japan), and Drägerwerk AG & Co. KGaA (Germany) focus on expanding their regional reach. Other development strategies adopted by market players are new product launches, agreements & collaborations, and mergers & acquisitions.

Major market players adopting new product launches as key strategies to achieve growth - Gas Analyzer, Sensor & Detector Market

The key players in the global GASD market adopted the strategy of both expansions and certifications to increase their market share between 2011 and 2015. The increasing demand for GASD devices in oil & gas and chemicals, building & construction, healthcare, food & beverage, and increasing consumption of GASD in developed as well as developing markets such as U.S., U.K., Germany, France, the Netherlands, China, India, Malaysia, and Japan have encouraged companies to adopt this strategy. The players in the market have also actively participated in acquisitions to increase their market penetration.

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New product launches was the most preferred growth strategy adopted by market players between 2011 and 2015 accounting for a share of 69.0%, respectively, of all development strategies. The second-most preferred growth strategy adopted by manufacturers was mergers & acquisitions that accounted for 14.0% of the total development strategies as witnessed in the recent years in the GASD market. Expansions & agreements, the third-most preferred strategy adopted by the players in this market, accounted for 9.0% of all the strategies.

The major manufacturers such as Honeywell International, Inc. (U.S.), ABB Ltd. (Switzerland), General Electric Co. (U.S.), Emerson Electric Co. (U.S.), and Drägerwerk AG & Co. KGaA (Germany) are profiled in this report. These companies have adopted various organic and inorganic growth strategies such as expansions, new product launches & product developments, mergers & acquisitions, joint ventures & contracts, and agreements.

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Honeywell International, Inc. (U.S.), ABB Ltd. (Switzerland), General Electric Co. (U.S.), Emerson Electric Co. (U.S.), Figaro Engineering Inc. (Japan), Ametek Inc. (U.S.), and Drägerwerk AG & Co. KGaA (Germany) are the most active players in the GASD market. These companies participated in maximum number of development strategies in the  GASD market, accounting for over 80.0% of the total market activities between 2011 and 2015.

Honeywell International, Inc. (U.S.) is the largest contributor to the overall developments recorded and is the leading company in the GASD market. The company follows organic growth strategies with new product development, capacity expansions, and agreements as the major growth strategies to enhance its presence in Europe, the U.S., China, among  other emerging economies. For instance, the establishment of its state-of-the-art technology center in Singapore, which explores the real world installation and use of GASD devices in the industrial environment. The diverse product portfolio of the company and technologically advanced R&D centers have also led to its innovation-driven growth, thereby accounting for a large share in the GASD market.

Figaro Engineering Inc. (Japan) is another major player that has established a strong foothold in the GASD market especially in the Asia-Pacific region. The company has a broad and diversified GASD and technology product portfolio, which ensures consistent growth in the  GASD market. The company is focused mainly on organic growth strategies. For instance, Figaro launched its new, highly accurate, and low power NDIR CO2 module, CDM7160. This analyzer can be used in environments where the CO2 concentration is normally high, for instance, in hospitals. These strategies have helped the company to enhance its technical expertise and expand its regional as well as global reach in the GASD market.

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Gas Analyzer Market is Expected to Reach Worth 4.06 Billion USD by 2021

The report "Gas Analyzer, Sensor & Detector Market by Technology (Electrochemical, Infrared, Metal Oxide Semiconductor, Catalytic, Laser), System (Fixed and Portable), Application (Water Treatment, Healthcare, Food & Beverages) - Global Forecast to 2021", The gas analyzer market is projected to reach USD 4.06 Billion at CAGR of 5.70% between 2016 and 2021. This high growth is fueled by the increasing demand for GASD due to the implementation of stringent environmental conservation policies and rising standards on workplace and residential safety.

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The Asia-Pacific region continues to be a significant market of GASD devices. Globally, this region has been a leader in the  Gas Analyzer, Sensor & Detector market with respect to demand as well as production capacity. Key countries in the Asia-Pacific market include Japan (the most dominant market), China, India, and Australia. South Korea, Malaysia, and Singapore witnessed   promising demand for Gas Analyzer, Sensor & Detector devices in 2015,  which is expected to grow steadily in the near future.

GASD Market, By Technology:

• Electrochemical
• Infrared
• Metal Oxide Semiconductor (MOS)
• Catalytic
• Zirconia
• Photo Ionization Detection (PID)
• Paramagnetic
• Laser
• Others

GASD Market, By Application:

• Oil & Gas and Chemicals
• Buildings & Construction
• Food & Beverages
• Healthcare
• Water Treatment
• Others

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Oil & gas and chemicals - Major market for GASD

GASD are extensively used in oil & gas and chemical end-use industry.  Safety control for industrial gas processes is one of the key driving factors of the GASD devices market in the oil & gas and chemicals industry. The companies operating various chemical plants or oil and gas extraction sites have to make sure that the emissions of various potent gases are according to the standards set by local governments; this has led to a surge in the demand for GASD devices. The frameworks mainly focus on reducing sulfur dioxide emissions by 99% and identifying the leaks from valves at gas processing plants.

Electrochemical: Major technology used in all the end-use industries

Electrochemical technology works on the principle of reacting with gases and generating electrical signals that are proportional to gas concentration. There are a wide range of electrochemical sensors, detectors and analyzers available in the market, where users can choose, depending on the target gas to be detected and the location. Electrochemical sensors consume less power and are less affected by temperature and pressure compared to other technologies. They have life span of three years. Therefore, the electrochemical sensors are widely used across the world. The use of electrochemical GASD devices is prevalent in applications such as oil & gas and chemicals and building & construction.

In terms of value, the U.S. and China together accounted for more than 40% of the global GASD market, in 2015

The U.S. is the largest market of GASD devices, globally. China is the largest market in the Asia-Pacific region. U.S. and China together accounted for a significant share of the global GASD market size, in terms of value, in 2015. They are the largest markets in their respective regions and are expected to compete with each other to dominate the market by 2021. The increasing use of GASD in these countries is mainly due to the stringent environmental conservation regulations, awareness regarding the benefits of using these devices for personnel safety at workplaces and also in the commercial and residential sectors.

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Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
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Suite 430
Northbrook, IL 60062
USA : +1-888-600-6441
Email: newsletter@marketsandmarkets.com