Gas Analyzer Market worth $3.2 Bn By 2018

Monday 12 August 2013, Amsterdam

Oil & Gas - Major Market for GASD

The GASD market is segmented into two types: fixed and portable. These individual GASD devices have application specific demands differentiated by placement, cost and efficiency. Fixed systems are useful in applications such as gas processing industries, buildings and constructions, waste water treatment facilities, refineries, combustion facilities, households and others. Portable systems are useful in chemical laboratories, food packaging and others. The use of these systems increases the efficiency of its applications.

Global Gas Analyzer Market to Reach $3.2 Bn By 2018

The global market for gas analyzer devices in terms of revenue was estimated to be worth $2.2 bn in 2012 and is expected to reach $3.2 bn by 2018, growing at a CAGR of 5.5% from 2013 to 2018. The Asia-Pacific region dominated the global GASD market revenues in 2012. Asia-Pacific is expected to have the highest revenue by 2018, followed by the North America region. Europe is expected to be the next fastest growing market, with a CAGR of 4.1% from 2013 to 2018, owing to rising consumption in this region, where end-user markets of GASD are growing steadily, especially in households to reduce the deaths caused due to carbon monoxide. The Middle East & African market is expected to grow at a rate of 4.4% in terms of revenue.

U.S. and Japan Accounted for more than 25.0% of GASD Revenues in 2012

U.S. is the biggest consumer in the North American region and is the largest globally. Japan is the biggest end user of GASD in the Asia-Pacific region and is the second largest globally. U.S. and Japan together accounted for 26.8% of the global gas analyzer revenues in 2012. U.S. and Japan are the largest consumers in their respective regions, and are expected to compete with each other to dominate the market by 2018, with advanced technological GASD devices for end users. Japan registered the most number of patents from 2010 to 2013 and is expected to continue with new product launches.