NEW YORK, Oct. 4, 2022 /PRNewswire/ — The global gas analyzer market size is expected to grow by USD 442.66 million between 2020 and 2025. The market observed a YOY growth of 3.53% in 2021 and the growth momentum is expected to accelerate at a CAGR of 4.22% during the forecast period. The market will observe maximum growth in APAC owing to a rise in offshore exploration projects and the shale gas revolution. Purchase our full report for a comprehensive analysis of the market size, YOY growth rates, regional growth opportunities, and much more. Download Sample PDF Report Before Purchasing
Technavio categorizes the global gas analyzer market as a part of the global industrial machinery market. The parent global industrial machinery market covers companies engaged in the manufacturing of industrial machinery and components covering presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. The parent market will be driven by the industrial output leading to capacity additions in process and discrete industries.
The global gas analyzer market is fragmented. The vendors in the market are adopting various innovative growth strategies such as new product launches and mergers and acquisitions to remain competitive in the market. The report identifies ABB Ltd., California Analytical Instruments Inc., Emerson Electric Co., Fuji Electric Co. Ltd., General Electric Co., Honeywell International Inc., Siemens AG, Tenova Spa, Thermo Fisher Scientific Inc., and Yokogawa Electric Corp. as dominant players.
The market will be driven by factors such as oil price fluctuations and subsequent increase in gas-based applications, rising production of shale gas, and increased plant safety and associated regulations and mandates will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Request Sample Report Here
Gas Analyzer Market 2021-2025: Segmentation
- Oil and Gas
- Power Generation
- Food and Beverage
The oil and gas industry is the prime end-user in the market. The segment is driven by the increasing offshore drilling activities. The market growth in the segment will be significant over the forecast period.
- North America
- South America
About 38% of the market growth will come from APAC…