Paramagnetic Gas Analyzer Systems Market Size – By End Use, Analysis, Share, Growth Forecast, 2024 – 2032

Paramagnetic Gas Analyzer Systems Market Size

The global paramagnetic gas analyzer systems market size was valued at USD 410.4 million in 2023 and is set to grow at CAGR of 5.6% by 2032. Growing need for emission monitoring systems in a range of industrial applications is fostering the industry landscape. Moreover, reliable gas monitoring systems are preferred by the industries in order to reduce their environmental impact and remain within the norms that further affect the business scenario.
 

Escalating demand to diminish carbon footprint along with encouraging regulatory measures by authorities aimed at boosting green business practices will further complement the business growth. For instance, the 2nd AZEC leaders meeting in Asia that happened in October 2024, resulted in the continuation with the Japan’s leadership upheld by the AZEC partner countries while stressing on the need to adopt mitigation strategies consisting of the renewable energy promotion, zero-emission power generation, and technology for carbon sequestration.

Paramagnetic Gas Analyzer Systems Market Trends

The paramagnetic gas analyzer systems industry witnessed notable growth owing to the rise in concentration on enhancement of environmental standards as well as the necessity to control the air pollution within set parameters. For example, in May 2024, the European Union set in place first revolving rules to curb methane emissions from the energy industry. This is crucial in taking serious steps towards the implementation of its REPowerEU Plan and meeting the objectives of the European Green Deal. These systems are designed for all industries that are involved in processes which result in emissions of harmful gases in the atmosphere inorder to minimize the deleterious effect and also facilitate in adherence to the standards. Growing inclination to monitor harmful emissions and industries seeking comprehensive solutions to address environmental concerns and comply with evolving regulations, will accelerate the product deployment.
 

Paramagnetic Gas Analyzer Systems Market Analysis

The oil & gas segment is anticipated to grow over USD 65 million by 2032. Paramagnetic gas analyzer systems have observed increased demand with substantial efforts made towards minimizing gaseous harmful emissions. These units are largely applied in hydrocarbon facilities since they measure corrosive gas mixtures and water vapors correctly to provide effective and safe operation. The discovery of new conventional and unconventional reserves has stimulated investment in new processing plants and growing need to upgrade existing facilities will augment the product deployment.
 

The ongoing expansion of chemical refinery facilities and the increasing need for instantaneous data analysis and monitoring have led to a surge in paramagnetic gas analyzer system adoption within the chemical and petrochemical sector. Moreover, rigorous emission regulations, combined with a greater emphasis on monitoring processes that emit harmful gases, are propelling the product installation.
 

The U.S. paramagnetic gas analyzer systems market is anticipated to grow over USD 155 million by 2032. Rising investments in sectors including metals, mining, and chemicals, and focus on reducing emissions, are positively influencing the market dynamics. For instance, in April 2024, four new standards seeking to reduce GHG and other emissions from fossil fuel powered plants were announced by the U.S. EPA. In addition, the heightened concern over air quality also prompted industries to continuously check atmospheric pollutants and comply with the designated air quality standards.
 

Paramagnetic Gas Analyzer Systems Market Share

Major players operating across the paramagnetic gas analyzer systems industry have witnessed intense competition, technological innovations and regulatory compliance, and. Key manufacturers, including ABB, Siemens, HORIBA, SICK, Yokogawa Electric and Emerson Electric, aiming to develop cost-effective and reliable solutions. Industry leaders are modifying their research & development policies to include the accurate measurement of gas emission tools and the enforcement of stringent safeguards. These companies are opting different strategies in their product mix development integrating innovation and technology in a sustainable manner, thereby, aiming to expand their market reach and serve an extensive array of customer requirements.
 

Paramagnetic Gas Analyzer Systems Market Companies

Key industry players operating across industry include:

• ABB
• Advanced Micro Instruments
• Buhler Technologies
• Emerson Electric
• ENVEA
• Fuji Electric
• HORIBA
• M&C TechGroup
• Nova Analytical Systems
• Process Sensing Technologies
• Servomex
• SICK
• Siemens
• Thermo Fisher Scientific
• Yokogawa Electric
   

Paramagnetic Gas Analyzer Systems Industry News

• In September 2024, Spectris, has expanded its portfolio for magnetic materials evaluation through recent acquisitions. The integrated technologies from subsidiary companies including SciAps, Micromeritics, and Malvern Panalytical, Spectris has bettered its performance in particle characterization and materials analysis. Moreover, the company recently acquired Micromeritics Instrument Corporation for an amount of about USD 685 million to create an all-encompassing particle characterization business.
   
• In March 2024, Process Sensing Technologies introduced the XPM601 Paramagnetic Oxygen Analyzer as a significant advancement in O2 monitoring for hydrogen production, especially in challenging environments. The technology employed relies on the reliable and compact design for careful measurement of oxygen, which is essential in primary green hydrogen produced with the use of electrolysis. The XPM601 has been duly certified with IEC 61508 with SIL2 capabilities to meet strict safety requirements and is capable of functioning in a hazardous environment. The device has expansive measurement range as it can measure O2 content in H2 ranging from 0-5% and features thorough-glass display.
   

The paramagnetic gas analyzer systems market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2021 to 2032 for the following segments:

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Market, By End Use

• Oil & gas
• Chemical & petrochemical
• Healthcare
• Research
• Water and wastewater
• Others

The above information has been provided for the following region and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
  • Norway
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Türkiye
  • South Africa
• Latin America
  • Brazil
  • Mexico
  • Argentina