Gas Analyzer Market to Reach $3.2 Billion by 2018 at a 5.5% CAGR - New Report by MarketsandMarkets
(PRWEB) August 14, 2013 -- The report “Gas Analyzer, Sensor & Detector Market - by Technologies (Electrochemical, Infrared, Metal Oxide Semiconductor, Catalytic, Laser and Others), by Systems (Fixed & Portable) and by End-User Industries - Global Trends & Forecasts to 2018” defines and segments the global GASD market with analysis and forecasts of global volumes and revenues of gas analyzers, sensors and detectors individually. It also identifies driving and restraining factors for the global GASD market with an analysis of trends, opportunities, burning issues, and winning imperatives.
The market is segmented and volume & revenue are forecast on the basis of major regions such as North America, Europe, Asia-Pacific, and Rest of the World (ROW). Further, the market is segmented and revenues are forecast on the basis of major applications of GASD devices used in various industries such as oil & gas and chemicals, buildings & construction, health care, water treatment, food & beverage and others.
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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 Billion By 2018
The global market for gas analyzer devices in terms of revenue was estimated to be worth $2.2 billion in 2012 and is expected to reach $3.2 billion 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.
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