Home > Energy & Power > Emerging Energy Technologies > Environmental Control Solutions > Electrochemical Gas Analyzer Systems Market
Electrochemical Gas Analyzer Systems Market was valued at over USD 935.7 million in 2023 and is anticipated to grow a CAGR of 5.4% between 2024 and 2032. Increasing demand for emission monitoring units across several industrial applications attributed by the need to decrease carbon emissions, along with stringent regulatory mandates to promote environmental sustainability is set to complement the industry landscape.
For instance, in May 2024, the EU established rules for first time to curb methane emissions from energy sector and marks another step in implementing REPowerEU and European Green Deal. Furthermore, capability of these systems to monitor harmful emissions by gases and play vital role across industries to limit environmental impact, and ensuring regulatory compliance will augment the industry landscape.
Report Attribute | Details |
---|---|
Base Year: | 2023 |
Electrochemical Gas Analyzer Systems Market Size in 2023: | USD 935.7 Million |
Forecast Period: | 2024 to 2032 |
Forecast Period 2024 to 2032 CAGR: | 5.4% |
2032 Value Projection: | USD 1.4 Billion |
Historical Data for: | 2021 to 2023 |
No. of Pages: | 70 |
Tables, Charts & Figures: | 20 |
Segments covered: | End-Use and Region |
Growth Drivers: |
|
Pitfalls & Challenges: |
|
Electrochemical gas analyzer systems industry is set to grow owing to the rising environmental consciousness that has led to increased demand for effective gas monitoring systems along with inclination toward limiting carbon emissions across industries. Rising need for enhanced technologies to help monitoring and controlling gaseous emissions enables industries to adhere to environmental norms and proactively mitigate emissions, for improving air quality further augmenting industry landscape. Moreover, industries including oil and gas, chemicals, and healthcare are turning to these solutions to meet emission standards and strengthen their environmental commitments further stimulating business dynamics.
Oil & gas segment is anticipated to surpass over USD 500 million by 2032. Growing awareness of air pollution and emission controls, coupled with rising demand for effective and dependable monitoring solutions is set to augment the product deployment across oil & gas applications. Ongoing expansion of refinery operations, accelerating oil and gas exploration activities, and rising oil production capacities have infused the industry to adoption reliable emission monitoring solutions. Furthermore, growing public awareness for environmental issues and increasing significance of emissions monitoring and control will complement the industry outlook.
The chemical & petrochemical segment is set to witness increased adoption of gas analyzer systems on account of increasing chemical refinery facilities along with increasing need for real-time data analysis, control, monitoring that helps in optimizing industrial processes. Many processes having the potential to release hazardous gases must be closely watched to ensure environment safety, and adherence to the stringent regulatory landscape further augmenting the industry landscape.
North America electrochemical gas analyzer systems market is set to cross over USD 470 million by 2032. Increasing investments across manufacturing, spanning metals, mining, and chemicals, coupled with expansion of energy generation facilities to meet rising energy needs, will complement the business landscape. Stringent regulatory landscape toward limiting the emissions and shifting inclination toward minimizing environmental impact will further influence the industry outlook. Furthermore, growing inclination toward streamlining the industrial processes along with broader monitoring setups, offer real-time insights into emission levels further shape North America gas analyzer systems industry dynamics.
Major manufacturers operating across the industry are aiming toward introduction of advanced monitoring technologies, aiming for strategic M&A, collaborations, partnerships and joint ventures to strengthen their market presence over the others. Rising adoption of digital technologies to improve performance optimization has prompted manufacturers to take innovative and new steps across the industry to hold majority of market share.
Major manufacturers operating across the industry comprise of:
Click here to Buy Section of this Report
Market, By End Use
The above information has been provided for the following countries: