DALLAS, TX -- The report "Gas Analyzer, Sensor and Detector Market by Technology (Electrochemical, Infrared, MOS, Catalytic, Zirconia, Paramagnetic, Laser, PID & Others), by Systems (Fixed & Portable) and By End-user Industry - Global Trends and Forecasts to 2020", The global market size for Gas Analyzer Devices in terms of value was estimated to be worth $2.5 Billion in 2014 and is projected to surpass $3.0 Billion by 2020, at a CAGR of around 5.0% from 2014 to 2020.
The market report defines and segments the global GASD market with analysis and forecasts of global market size in volume and value 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 market size in volume and value are forecast on the basis of major regions such as North America, Europe, Asia-Pacific, Middle-East, 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.
Oil & gas - major market for GASD
The GASD market is segmented into two types: fixed and portable. GASD devices have applications based on their 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 surpass $3.0 Billion by 2020
The global market size for gas analyzer devices in terms of value was estimated to be worth $2.5 Billion in 2014 and is projected to surpass $3.0 Billion by 2020, at a CAGR of around 5.0% from 2014 to 2020. The Asia-Pacific region dominated the global GASD market size by value in 2014 with around 35% share in the global market. Asia-Pacific is projected to have the highest market size in terms of value by 2020, followed by the North America region. Europe is projected to be the next fastest growing market, at a CAGR of around 4.0% from 2014 to 2020, owing to rise in consumption in the region, where end-user markets of GASD are growing steadily, especially in households to reduce the death caused due to carbon monoxide. The Middle East & African market is projected to grow at a rate of about 4.5% in terms of value.
The U.S. and Japan accounted for more than 25.0% of GASD value in 2014
The U.S. is the biggest consumer in the North American region with around 65% share and globally the largest. Japan is the biggest end user of GASD with about 35% share in the Asia-Pacific region and is the second largest globally. The U.S. and Japan together accounted for around 25% of the global Gas Analyzer Market size by value in 2014. The 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 2020, with advanced technological GASD devices for end users.
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