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. For instance, in the coal mining industry, around 75% of methane emissions are produced. In 2010, approximately 589 million metric tons of carbon dioxide equivalent (MtCO2e) was produced and the number is projected to reach 784 MtCO2e by 2030. Besides, increasing demand for cost-effective equipment is an influencing factor for the growth of the stationary gas analyzer market. These analyzers can be integrated into portable electronic devices such as smartphones and tablets, which help to enhance overall performance under harsh external conditions. Furthermore, the introduction of embedded technologies, coupled with improved manufacturing techniques, has enabled advancements in gas analyzers. Wireless gas sensors can detect concentration levels of the target gas, and transmit a proportional signal. As a result, these proliferated benefits to increase air quality are boosting the stationary gas analyzer market demand.
Life safety is critically dependent upon the adequacy of the gas analyzer to provide early-warning detection for a broad range of explosive or toxic gases that are possible in the mining sites. To improve the level of fire safety and to guard against the disastrous consequences that can result from mine, federal regulation mandates the use of automatic gas detection in underground locations, such as conveyor belt entries, diesel fuel storage areas, and power centers. Vale S.A., a Brazilian-based mining company has opened the largest mining project for iron ore, in 2016, in Carajas. The rise in the new mining sites will increase the adoption of the more gas analyzers, which in turn, will lead the market for stationary gas analyzer market around the globe. Gas analyzers are extensively used by business organizations and commercial buildings owing to the safety concerns of people in residence and enterprises are major factors driving this market around the globe. The government policies, regulations, and norms which are mandating the use of gas analyzers, educating the people were introduced to ensure workplace safety, resulted in the spending of enterprises more on gas analyzers. For instance, the fourth conference on gas and coal market was held in 2018, where the Organization of the Petroleum Exporting Countries (OPEC), International Energy Agency (IEA), and the International Energy Forum (IEF) collectively focused on the measures to meet the climate change mitigation would affect the demand for coal and natural gas. So the usage of various gas analyzers, such as stationary gas analyzer and non-dispersive IR (NDIR) analyzers needed to decarbonize existing energy systems. As a result, safety measures undertaken by these organizations is augmenting the stationary gas analyzer market growth.
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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