The report, now available on ASDReports, "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.
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.
Companies 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) are the dominant market players in the global GASD market.
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Source: ASDReports - Market Research
Date: Aug 24, 2016