Rising concerns towards the safety of the individual from hazardous gases have fueled the deployment of the gas analyzers in different verticals such as oil and gas, petrochemical, and mining. Advancements in the technology have brought high-quality gas analyzers with cutting-edge features that can deliver effective mechanisms within milliseconds of hazardous gas leak incidents in the mining industry. The world mining production was valued at 16.9 billion metric tons in 2016 and it reached approximately 17.2 billion metric tons in 2017.
Subsequently, increasing production in the mining industry is boosting the demand for the growth of the stationary gas analyzer market. Furthermore, the growing demand for wireless sensors to detect toxic gases such as methane and carbon monoxide from longer distances is another key factor triggering the growth of the stationary gas analyzer market. Along with that, verifying oxygen levels for air combustion is triggering the growth of oxygen analysers in this market.
The global stationary gas analyzer market size was valued at $2.3 billion as of 2018 and is expected to grow with a CAGR of 4.8% throughout the forecast period 2019-2025.
Stationary Gas Analyzer Market Rising with the Increasing Demand for Air Quality Monitoring
Growing demand for air quality and gas monitoring in industrial, commercial, and residential sectors is an influencing factor contributing to the growth of the stationary gas analyzer market. For instance, ABB Group, a Swiss-based power, and heavy electrical equipment manufacturer have designed an ultraportable greenhouse gas analyzer for accurate measurements of gases such as carbon dioxide, methane, and water in the oil fields. These pre-calibrated devices are mainly used in real time analysis environmental monitoring systems for air quality measurement. On the other hand, harmful impacts of toxic gases from manufacturing facilities leading to respiratory diseases and other health problems create the need to deploy monitoring systems that further increase the stationary gas analyzer market share.
Middle East Holding Major Share of the Stationary Gas Analyzer Market
The Middle East generated 32% of the stationary gas analyzer market global revenue in 2018. Growing awareness among the population regarding benefits of using these analyzers for personal safety at workplaces and in the commercial and residential sectors are fueling factors aiding the growth of the stationary gas analyzer market in the Middle East. A rapid surge in shale gas explorations in this region has augmented the demand for gas analyzers as these can prevent corrosion in gas pipelines. These stationary gas analyzers can measure the corrosive mixture of gases to carry safe and efficient operations in different industry verticals such as oil & gas and petroleum refining in this region in large scale, which in turn, spur the growth of the stationary gas analyzer market.
Oil and Gas Emerge as the Fastest-Growing Sector in the Global Stationary Gas Analyzer Market
The application segment that will be creating the most lucrative opportunities for the stationary gas analyzer market is the oil & gas sector. This application segment is projected to grow at a CAGR of 1.2% through to 2025. Stationary gas analyzers are used for contamination and hydrocarbon analysis, and detecting gas purity in the oil and gas sector. Increasing oil and gas exploration activities in which several gases such as sulfur oxide, nitrogen oxide, and carbon dioxide are released from the fields and these can be hazardous to people and infrastructure working in the vicinity, which in turn, incite the growth of the stationary gas analyzer market.
The Major Players in the Stationary Gas Analyzer Market:
Prominent players in the stationary gas analyzer market include ABB Group, Ametek, Inc., ATAC, Bartec, Endress Hauser, Forbes & Marshall, Hach Company, Sick, Siemens, and Thermo Fischer Scientific.
Mergers and acquisitions are the other key strategies adopted by the players to stay ahead of their competitors. Ametek, Inc., an American-based manufacturer of electronic instruments and electromechanical devices has announced its acquisition with Telular Corporation, an American-based technology leader in IoT solutions on Nov 5, 2018. With this acquisition, Ametek has enhanced its product portfolio with advanced IoT technology across mission-critical applications thereby its position in the global market. Such mergers and acquisitions aid the market players to expand their geographical boundaries and accentuate their footprint into the global stationary gas analyzer market.
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