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 was valued at USD 410.4 million in 2023 and is set to grow at CAGR of over 5.6% from 2024 to 2032. The growing need for emission monitoring systems across several industrial applications is shaping the industry landscape. Additionally, industries are seeking reliable gas monitoring systems to limit their environmental impact and ensure compliance with regulations further influencing the business outlook.
 

Increasing necessity to limit carbon emissions along with stringent regulatory standards and initiatives by respective authorities toward promoting environmental sustainability will complement the business landscape. For instance, the 2nd Asia Zero-Emission Community (AZEC) Leaders Meeting, held in October 2024, focused on balancing Asia's economic growth with climate change mitigation. AZEC partner countries supported Japan's leadership and stressed the importance of reducing emissions through various measures, including renewable energy promotion, zero-emission power generation, and carbon sequestration technologies.
 

Paramagnetic Gas Analyzer Systems Market Trends

The paramagnetic gas analyzer systems industry has experienced significant growth on account of increased focus on environmental regulations and the need to reduce air pollution while maintaining air quality standards. These systems have become essential in various industries for monitoring and controlling harmful gaseous emissions, thereby reducing environmental impact and ensuring compliance with regulatory requirements. 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 cross over USD 65 million by 2032. The demand for paramagnetic gas analyzer systems is increasing, driven by significant efforts to reduce harmful gaseous emissions. Hydrocarbon facilities widely deploy these units owing to their ability to accurately measure corrosive gas mixtures and water vapors, ensuring efficient and safe operations. The discovery of new conventional and unconventional reserves has stimulated investment in new processing plants and the 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 sectors. Moreover, rigorous emission regulations, combined with a greater emphasis on monitoring processes that emit harmful gases, are propelling the product installation.
 

U.S. paramagnetic gas analyzer systems market is projected to surpass USD 155 million by 2032. Rising investments in sectors such as metals, mining, and chemicals, and focus on reducing emissions, are positively influencing the market dynamics. Stringent environmental regulations and significant measures to control harmful emissions are further augmenting the industry outlook. Moreover, growing focus on air quality has prompted industries to continuously monitor air pollutants and ensure compliance with air quality standards, contributing to industry growth.
 

Paramagnetic Gas Analyzer Systems Market Share

The gas analyzer systems industry is experiencing growth owing to increasing environmental and safety concerns along with rising need for accurate measurement of toxic gas emissions and the implementation of stricter safety protocols against harmful emissions. Major manufacturers in the industry are adjusting their research and development strategies. These companies are focusing on expanding their product lines and incorporating advanced, sustainable technologies. Such efforts aim to broaden their market presence and cater to a wider range of customer needs.
 

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.
 

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 expanded its portfolio for magnetic materials evaluation through recent acquisitions. The company has integrated technologies from Micromeritics, SciAps, and Malvern Panalytical, enhancing its capabilities in particle characterization and materials analysis. Spectris' latest acquisition of Micromeritics Instrument Corporation for $685 million aims to create a comprehensive particle characterization business.
   
• In March 2024, Process Sensing Technologies introduced the XPM601 Paramagnetic Oxygen Analyzer is a significant advancement in O2 monitoring for hydrogen production, especially in challenging environments. It uses paramagnetic technology in a compact, durable design for precise oxygen measurement, crucial in green hydrogen production via electrolysis. Meeting strict safety standards with various certifications, the XPM601 is suitable for hazardous areas and adheres to IEC 61508 standards with SIL2 capability. It offers a wide measurement range of 0-5% O2 in H2, high accuracy, and user-friendly features like a through-glass display.
   

This 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