Gas Calorimeter Market 2021: COVID-19 Impact 2021: Global Industry Analysis, Opportunity Assessment and Forecast to 2023
Market
Overview
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.
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Segmental Analysis
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.
Regional Analysis
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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Competitive Analysis
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.
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.
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