Gas Calorimeter Market Unbelievable Growth and Forecast to 2030
Gas Calorimeter Market:
According to Market Research Future (MRFR), the global Gas Calorimeter Market size in terms of value is Estimated to Register a 5.14% CAGR During the Forecast Period. The report presents a succinct summary of the global situation, the economic situation, and the COVID-19 review of the overall market.
The gas calorimeter is an electromechanical device used to measure and control the amount of gas. The typical method is that the gas is burnt at the burner with air, and the temperature variation between the combustion exhaust gas and the feed air at the burner inlet is determined using a thermocouple.
Market Dynamics
Increased urbanization, construction, manufacturing processes, food processing, and chemical industries have led to a massive demand for petroleum and natural gas, therefore driving market development.
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Market Segmentation
The global market for gas calorimeters has been segmented based on application.
By application, the global gas calorimeter market has been segmented into natural gas pipeline industry, town gas industry, thermal powerhouses, gas engine industry, petroleum industry, research labs/institutes, steel plants, and others. The natural gas pipeline industry segment had the largest market share in 2018. Gas calorimeters are commonly used in the natural gas pipeline industry as they promote smooth, simple, and accurate trading transactions and conform with and comply with international measurement standards. The gas calorimeter is the perfect apparatus for liquefied natural gas (LNG) calorific adjustment lines and applications that increase the combustion efficiency for gas turbines and furnaces. The gas calorimeter provides a rapid response within five seconds, which is more than 30 times faster than conventional gas chromatographs. In addition, gas calorimeters are available at a surprisingly low price of one-fifth to one-twentieth of natural gas calorimeters. They provide highly accurate measurements, even with fluctuations in the gas component, and are highly reliable compared to their counterparts in the global market.
Key Players
Notable players in the global gas calorimeter market are Yokogawa Electric Corporation (Japan), UNION Instruments GmbH (Germany), Azbil Corporation (Japan), RIKEN KEIKI Co., Ltd. (Japan), ABB (Switzerland), COSA XENTAUR (US), Hobré Instruments B.V. (Netherlands), Shimadzu Corporation (Japan), and HOVERLABS (India).
Regional Analysis
Region-wise, the global gas calorimeter market has been segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World.
The Asia Pacific is set to dominate the gas calorimeter market. Major international gas calorimeter players, such as Yokogawa Electric Corporation, RIKEN KEIKI Co., Ltd, Shimadzu Corporation, Azbil Corporation, and other smaller regional players, are boosting the regional market growth. Most of the economies in the region are increasing rapidly and are expected to continue to expand throughout the assessment period. The region has emerged as one of the largest consumers of petroleum and natural gas due to rapid urbanization, infrastructure development, power generation, and growth in the manufacturing, food processing, and chemical industries. These factors are expected to spur the growth of the gas calorimeter market in the Asia Pacific during the forecast period.
North America had the second-largest market share in the global gas calorimeter market in 2018. The demand for natural gas and petroleum and the rise in research institutes and laboratories have guided the development of the market for gas calorimeters in North America. The main factors driving the Gas Calorimeter Market trends are the rising extraction of shale oil and gas, high government spending, and the growing presence of key players in the region. In addition, upcoming and ongoing projects and improvements in natural gas pipelines, favorable government regulations, enhanced pipeline services, and increased energy demand are anticipated to propel the gas calorimeter market’s growth in North America.
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Europe is expected to see a tremendous increase in the market for gas calorimeters. The growth in research institutes and the growing use of gas calorimeters in the oil gas and petroleum industries in Europe is predicted to drive the gas calorimeter market in this area. Rising gas pipeline services, increasing energy demand, and increasing oil and gas exploration and development are the main factors fuel demand for gas calorimeters in the region. Key gas calorimeter companies in Asia Pacific, like Yokogawa Electric Corporation and Azbil Corporation, are expanding their presence in Europe by mergers, acquisitions, and contracts to increase their global market share. These factors are expected to push the growth of the gas calorimeter market in Europe during the forecast period.
Germany is one of the largest producers of gas calorimeters in Europe. The gas calorimeter market in Germany is anticipated to rise at the fastest rate due to factors such as growing offshore production and increasing demand for oil and gas and petroleum products. According to the 2018 BP statistical review, Germany produced 6.4 billion cubic meters (BCM) of natural gas while consuming 90.2 BCM of natural gas. As per the US Energy Information Administration, Germany consumed 2.3 million barrels per day (b/d), accounting for 34% of its overall primary energy consumption in 2015. Increased demand for energy production and oil gas extraction and production is also expected to increase demand for gas calorimeters in this country over the forecast period.
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