Continuous Gas Concentration Monitoring Across Industries Enhances Future Growth Opportunities
This research analyzes the global trends in the laser-based gas analyzers market. The global laser-based gas analyzers market was witnessing steady growth, with safety, process, and environmental applications driving demand across vertical markets. The spread of the COVID-19 pandemic has halted production globally and is resulting in many upcoming projects being canceled or delayed. Globally, many plants across industries such as process, energy and power, and industrial manufacturing have been closed, resulting in a significant drop in demand. Despite countries beginning to relax restrictions, it is unlikely for demand to return to pre-COVID-19 levels in 2020 and 2021. The oil price slump did not help the situation and resulted in oversupply with weak demand. Hence, the demand for gas analyzers is expected to be low in energy and related industries as well. Once industries return close to previous plant utilization levels, demand will also increase. The market has been segmented by technique type, vertical markets, and regional markets.
The study covers the market share analysis of top competitors in addition to discussing the strengths, weaknesses, opportunities, and threats (SWOT) analysis of these participants. The study also describes the distribution structure in this market.
Annual estimates and forecasts are provided for the period 2016 to 2026. The geographical scope of the study includes North America, Europe (EU), Asia-Pacific (APAC), and Rest of the World (RoW).
North America is a significant contributor to the laser-based gas analyzers market owing to the energy and manufacturing industries. Regulatory compliance in Europe toward environmental protection is a key contributor to demand.
APAC was the largest contributor and the fastest growing region with growing industrialization in economies such as China and India. The market is approached usually through a combination of direct and indirect channels.
The global laser-based gas analyzers market is estimated to reach approximately $566.4 million by 2026. Gas analysis is done using various techniques, and companies are focused on offering analyzers based on one technique. The market does not have participants offering all techniques but companies offer only one solution to several vertical markets. The market also has companies targeting a specific vertical market or a niche application.
The tunable diode laser spectroscopy (TDLS) technique currently holds a major share of the market. Demand for inline measurements is growing, especially in certain applications where continuous measurements are required or human intervention is not possible. The study discusses various trends that are changing the laser-based gas analyzers market and their business impact on enterprises, service providers, and small and medium businesses.
