Gas Analyzer Market Size (2024 - 2029)

Gas Analyzer Market Analysis

The Gas Analyzer Market size is estimated at USD 0.94 billion in 2024, and is expected to reach USD 1.33 billion by 2029, growing at a CAGR of 7.08% during the forecast period (2024-2029).

The need for a longer lifespan, maintenance-free products, and cost competitiveness are the primary needs of the gas analyzer market. In addition, high price sensitivity, demand for highly reliable products, and a higher degree of innovation are expected to influence the market studied during the forecast period.

Gas analyzers are analytical devices designed to measure the quality or concentration of a specific gaseous compound within a mixture of multiple gases. These devices are used across various industries, including manufacturing, agriculture, and waste management, to help the users keep an eye on gas levels in their operations to ensure the numbers are within the acceptable range for the quality of products and processes and the safety of employees/people.

The continued growth of the market is anticipated owing to the increase in shale gas and tight oil explorations activities as these analyzers can help in preventing corrosion and gas leakage in natural gas pipeline infrastructure, tighter safety control regulations about the emission of harmful gases across various industries also drive the growth of the studied market.

The proliferation of handheld devices has also led to driving innovations in the field of gas analyzers, which has considerably widened the scope of application across multiple end-user segments. Some prominent companies are developing the gas analyzer segment with clinical assays, environmental emission control, explosive detection, agricultural storage, shipping, and workplace-hazard monitoring applications.

For instance, in January 2022, SuperFlash LLC, a manufacturer of compressed gas safety and management, announced the launch of their latest mobile and compact gas analyzer named GA300. According to the company, this new product allows for precision analysis of gas mixtures and provides further advantages such as the ability to record, document, and integrate into the quality assurance process. Furthermore, the GA300 utilizes state-of-the-art sensor technology and software solutions to perform exact analysis using the thermal conductivity principle.

Additionally, safety awareness is rising across various end-user segments due to the increasing number of fatal accidents related to gas leakages and explosions. This leads to many worker's associations and regulatory authorities insisting on using sensor device components equipped with gas detectors and analyzers.

Moreover, according to a report by WHO on Ambient (outdoor) air pollution, almost 99% of the global population lived in areas where air quality standards set by the WHO were not met. The growing focus of the governments on improving the air quality index (AQI) will also drive the adoption of gas analyzers across various verticals globally.

However, gas analyzers' design and operational complexities are among the major restraining factors for the studied market's growth. A lower awareness among developing regions also challenges the studied market's growth.

Although the industry, in general, was negatively impacted due to widespread lockdown imposed across various countries, major end-user industries such as oil & gas, chemical, and petrochemical witnessed a slowdown owing to reduced demand which had a similar impact on the demand for gas analyzers. However, during the pandemic, the demand for blood gas analyzers increased significantly as they provided valuable measures of blood oxygenation, acid-base balance, and the lungs' efficacy in gas exchange. Moreover, the post-pandemic period is anticipated to drive the studied market's growth as the demand is expected to gain traction across all the major end-user industries.

Gas Analyzer Industry Segmentation

Gas analyzers are primarily used for quantitative purposes to determine gas concentration and analyze physical parameters, such as temperature, pressure, concentration, and flow rate. When the exact measurement is not critical, gas detectors are used for safety.

The Global Gas Analyzer Market is segmented by Product Type (Fixed, Portable), by Technology (Electrochemical, Paramagnetic, Zirconia (ZR), Non-dispersive IR (NDIR)), by End-user Vertical (Oil and Gas, Chemical and Petrochemical, Water and Wastewater, Pharmaceutical, Food, and Beverage), and by Geography (North America, United States, Canada, Europe (United Kingdom, Germany, France, and Rest of Europe), Asia Pacific (Japan, China, India, and Rest of Asia Pacific), Latin America and Middle East and Africa). The report offers the market size in value terms in USD for all the abovementioned segments.