Global Gas Calorimeter Market is expected to be valued at USD 450.8 Million by 2025, with a CAGR of 5.14% during the forecast period (2019–2025).
The report covers segmentations and drivers for a better glimpse of the market in the coming years. Gas calorimeter is used to measure the calorific value of liquids and solid fuels. The basic practical application of gas calorimeter is the use of fuel oil, gasoline, coke, coal, combustion water, and food & building materials.
Some of the Prominent Players in the Global Gas Calorimeter Market are Yokogawa Electric Corporation (Japan), Azbil Corporation (Japan), RIKEN KEIKI Co., Ltd. (Japan), ABB (Switzerland), UNION Instruments GmbH (Germany), COSA XENTAUR (US), Shimadzu Corporation (Japan), Hobré Instruments B.V. (Netherlands), and HOVERLABS (India).
Yokogawa Electric focuses on expanding its business operation by increasing investments in product development. It aims to enhance its profit ratio by offering customers sustainable and environment-friendly products. The company strategizes to expand its product portfolio that caters to the energy and material industries, helping it increase its presence in the global market. It also focuses on investing in developing field instruments and gas analyzers that meet the standards of the energy industries. The company concentrates on enhancing its operations in international markets by investing in establishing manufacturing facilities and sales offices. Yokogawa Electric formulated Transformation 2020, a mid-term initiative, to increase profitability and take the company’s transformation to a new level. Through this initiative, it aims to minimize the risk of digital transformation.
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Azbil focuses on expanding its presence in the global market through collaborations and partnerships with the dealers and distributors and by establishing manufacturing facilities and sales offices in international markets. It primarily concentrates on research and development, capital investments, and partnerships with companies in the domestic and international markets to increase revenue generation. The company strategizes to form long-term partnerships with clients and customers to meet the need for customized analyzing technologies and products.
The Global Gas Calorimeter Market is segmented based on application. On the basis of application, the natural gas pipeline industry segment is expected to dominate the global market. Gas calorimeters are widely used in the natural gas pipeline industry as they facilitate smooth, simple, and accurate trade transactions and conform and maintain the international measurement standards. A gas calorimeter is an ideal apparatus for liquified natural gas (LNG) calorific adjustment lines and applications that improve combustion efficiency for gas turbines and furnaces. A gas calorimeter offers a quick response within five seconds, which is over 30 times faster than traditional gas chromatographs. Moreover, gas calorimeters are available in an amazingly low one-fifth to one-twentieth price of natural gas calorimeters. They offer highly accurate measurements even with gas component fluctuations and are highly reliable compared to their counterparts available in the global market.
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Geographic analysis of the global gas calorimeter market spans across North America, Europe, Asia-Pacific (APAC), and Rest of the World.
In 2018, Asia-Pacific was the leading market with a market value of USD 113.3 Million. The regional market value is expected to reach USD 152.1 Million by 2025 with an impressive 4.40% CAGR during the forecast period.
Asia-Pacific is one of the prominent markets in the global gas calorimeter market. The presence of large international gas calorimeter players, such as Yokogawa Electric Corporation, Azbil Corporation, and RIKEN KEIKI Co., Ltd, Shimadzu Corporation, and other smaller regional players are fueling the regional market growth. Most of the economies in the region are growing rapidly and is expected to continue to grow during the forecast period. The region has emerged as one of the highest consumers of petroleum and natural gas due to the rapid urbanization, infrastructure developments, power generation, and growth of the manufacturing, food processing, and chemical industries. These factors are expected to drive the growth of the gas calorimeter market in Asia-Pacific during the forecast period.
In 2018, North America held the second largest market share in the global gas calorimeter market. The demand for natural gas and petroleum and the increase in research institutes and labs have driven the growth of the gas calorimeter market in North America. The major factors driving the growth of the gas calorimeter market are the increasing shale oil and gas extraction, high government investments, and growing presence of key players in the region. Furthermore, the upcoming and ongoing projects and developments in natural gas pipeline, favorable government regulations, improved pipeline services, and rise in demand for energy are expected to fuel the growth of the gas calorimeter market in North America. In 2018, the regional market was valued at USD 92.6 Million, which is expected to reach USD 133.3 Million by 2025 with a 5.43% CAGR during the forecast period.
Europe is expected to witness an excellent growth in the gas calorimeter market. The increasing in research institutes and the increasing use of gas calorimeter in oil & gas and petroleum industries in Europe is expected to drive the gas calorimeter market in this region. The increasing natural gas pipeline services, rising demand for energy, and growing oil and gas exploration and production are the key factors that are boosting the demand for gas calorimeters in this region. The key gas calorimeter companies in Asia-Pacific, such as Yokogawa Electric Corporation, and Azbil Corporation, are expanding their presence in Europe through mergers, acquisitions, contracts, and agreements to increase their global market share. Such factors are expected to lead to the growth of the gas calorimeter market in Europe during the forecast period. The regional gas calorimeter market is expected to be valued at USD 110.9 Million by 2025 at a CAGR of 6.07% during the forecast period.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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