Gas Analyzer, Sensor and Detector Market Size Forecast to Reach $8.9 Billion by 2026
Increasing Extraction and Shipping of Resources in Various Oil and Gas Industries, the Scope of Different Gas Analyzers, Sensors and Detectors Has Increased Rapidly Which Boost Its Market Growth.
Hyderabad, India – July 24, 2021 /MarketersMedia/ —
The Market for Gas Analyzer, Sensor and Detector is forecast to reach $8.9 billion by 2026, growing at a CAGR of 4.1% from 2021 to 2026. The Gas Analyzer, Sensor and Detector Market is estimated to witness sustainable growth over the forecast period majorly because Gas Analyzer, Sensor and Detector plays a major role in giving security, safety and various applications in Industries and other workplaces. Gas Analyzer, Sensor and Detector have their own respective features and provides various utilities. Gas sensors are generally providing a measurement of the concentration of various gases such as CO, CO2, NOx, SO2 and Others by different sensors such as Combustible Gas Sensors, Infrared Point Sensors, Electrochemical Gas Sensors, Metal Oxide Semiconductor, Photo Ionization Detection, Paramagnetic and Others. Gas detectors are commonly included as part of a health and safety system within the workplace, with portable instruments designed for protecting all workplaces when working in potentially hazardous areas. These vast features at various End-Use industries such as water treatment, food and beverage etc. drives its market growth in global market. On the other hand, high installation and maintenance cost are the major challenges affecting its market growth.
Gas Analyzer, Sensor and Detector Market Segment Analysis – By Structure
Portable Gas Analyzers, Sensors and Detectors has dominated the Gas Analyzer, Sensor and Detector Market at 70% share in 2020 as compared to the Fixed Gas Analyzers, Sensors and Detectors. The demand for Portable Gas Analyzers, Sensors and Detectors is growing because in various Power plant and Oil & Gas Industries, the pipelines contain many hazardous elements that can cause short and long-term health problems if workers are exposed to them improperly.
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Gas Analyzer, Sensor and Detector Market Segment Analysis – By End-Use Industry
Oil & Gas Industries hold the largest market in Gas Analyzer, Sensor and Detector Market at 22.4% share in 2020. The various Inspection methods which it offers to the Oil & Gas Industries as they mainly constitute in operation of many gases from extraction to production by transferring through pipelines. Thus, the requirement of Gas Analyzers, Sensors and Detectors increases rapidly. With the advancement in technologies, the adoption of Portable Gas Analyzers, Sensors and Detectors which offers wireless examination of various levels of gases operating in the system.
Gas Analyzer, Sensor and Detector Market Segment Analysis – By Geography
Asia-Pacific has been accounted for being the highest market at 37.5% share in 2020 among all the regions by geography. The market growth in this region is predominantly rising due fast-growing economies such as China, India, Japan and Others. Increasing rate of Urbanization and Industrialization with high population densities in these economies tends to uplift the Gas Analyzer, Sensor and Detector Market in these regions. Due to large number of Oil & Gas Industries, Power plants, Healthcare and high air pollution intensity in atmosphere of these regions, the installation Gas Analyzers, Sensors and Detectors tends to boost the market growth.
Gas Analyzer, Sensor and Detector Market Drivers
Rise in Industrialization and Urbanization drives market growth
Fast growing economies in Asia-Pacific and North America are contributing exponentially in Gas Analyzer, Sensor and Detector Market. Due to rise in Urbanization and Industrialization, the demand for Gas Analyzers, Sensors and Detectors in various Oil & Gas industries, Healthcare, Power plants has increased rapidly. This has promoted the developments in manufacturing of Gas Analyzers, Sensors and Detectors from fixed systems to portable systems among which the adoption of Wireless Gas Analyzers, Sensors and Detectors has brought a major uplift in its market growth.
Rise in Governmental Regulations and Environmental Concerns
With the rise in Governmental Regulations of maintaining a pollution-free city in various regions has brought a huge demand of Gas Analyzers, Sensors and Detectors in global market. Gas sensors helps in examining the various hazardous gases in the atmosphere and provides the measurement of the concentration of various gases such as CO, CO2, NOx, SO2 and Others in major workplaces and Industries and Other public places. This tends to drive the demand of Gas Analyzer, Sensor and Detector Market globally.
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Gas Analyzer, Sensor and Detector Market Landscape
The Gas Analyzer, Sensor and Detector Market is dominated by major companies such as Dragerwerk Ag & Co.KGAA, AMETEK, Honeywell International Inc., ABB Ltd., General Electric Co., Emerson Electric Co., Figaro Engineering Inc., Ametek Inc., Siemens AG, Trolex Ltd., Enerac Inc. and California Analytical Instruments Inc.
Key Takeaways
The Gas Analyzer, Sensor and Detector Market is estimated to witness a sustainable growth over the forecast period majorly role in giving security, safety and various applications in Industries and other workplaces.
Due to increasing extraction and shipping of resources in various Oil and Gas Industries, the scope of different Gas Analyzers, Sensors and Detectors has increased rapidly which boost its market growth.
Ongoing Industrialization and Urbanization in major economies such as USA, Canada, China, India and others, the presence of harmful gases in atmosphere and increased rapidly which uplifts the demand of Gas Analyzers, Sensors and Detectors in global market.
With the rise in Governmental regulations and Environmental concerns against the rising air pollution intensity with hazardous gases in atmosphere, installation of Gas Analyzers, Sensors and Detectors in all workplaces and near hospitals and Other public places tends to drive the market growth.
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