Rockville, MD, Aug. 27, 2024 (GLOBE NEWSWIRE) -- The global Market for Laser Gas Analyzers is set to reach US$ 3.15 billion in 2024, as per a newly published industry analysis by Fact.MR, a market research and competitive intelligence provider. Global revenue from the sales of laser gas analyzers is forecasted at US$ 5.39 billion for 2034.
Increasing public consciousness about the danger of emissions and gas leaks is projected to contribute to the rising adoption of laser gas analyzers. Manufacturers of laser gas analyzers are integrating their products with wireless devices, such as mobile phones, to offer remote control, real-time monitoring, and data backup. In addition, increasing awareness about hazardous gas and toxicity dangers in work environments is projected to increase the adoption of laser gas analyzers, particularly in the metal & mining, chemicals & petrochemicals, and oil & gas industries.
Automotive emission analyzers are becoming popular owing to stringent government regulations governing CO2 emissions from vehicles. Further, automotive manufacturers are putting efforts to improve the performance of their engines and combat CO2 emissions. Therefore, the majority of automotive testing companies are projected to extensively use laser gas analyzers.
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Key Takeaways from Market Study:
- Worldwide sales of laser gas analyzers are estimated at US$ 3.15 billion in 2024.
- The global laser gas analyzer market is projected to reach US$ 5.39 billion by the end of 2034.
- The market is forecasted to expand at 5.5% CAGR from 2024 to 2034.
- East Asia is projected to hold 38.4% share of the global market by 2034-end.
- Sales of laser gas analyzers in the United States are forecasted to rise at a CAGR of 5.7% and reach US$ 1.02 billion by 2034.
- Fixed laser gas analyzers are projected to account for 62.9% share of global market revenue by the end of 2034.
“Growing emphasis on workplace safety and health regulations, constant technological advancements in laser technology, and rising demand for energy efficiency are boosting sales of laser gas analyzers,” says a Fact.MR analyst.
Leading Players Driving Innovation in Laser Gas Analyzer Market:
- ABB Ltd.
- AMETEK Land Instruments International
- Emersion Electric Co.
- Yokogawa Electric Corporation
- Honeywell International Inc.
Rising Environmental Concerns Pushing Demand for Laser Gas Analyzers in United States:
The United States is projected to hold 64.9% share of the North American market by the end of 2034. Due to the implementation of environmental and industrial conservation regulations by the majority of governments, there is an increase in demand for laser gas analyzers in the country. In addition, the presence of some renowned infrastructure and industrial establishments is forecasted to increase demand for high-accuracy solutions, such as laser gas analyzers.
Country-wise Insights:
By the end of 2034, the US is expected to control 64.9% of the North American market. Laser gas analyser demand is rising as a result of strict environmental and industrial conservation rules. Furthermore, the market is expected to increase due to the presence of some of the most well-known industrial and infrastructure institutions and their interest in a variety of high-accuracy solutions.
The use of laser gas analysers in high- and mid-rise buildings is being required by councils in East and West Coast cities. They are put in place to monitor electricity use and greenhouse gas emissions.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the laser gas analyzer market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights into the market based on system type (portable laser gas analyzers, fixed laser gas analyzers), laser type (tunable diode laser spectroscopy [TDLS], Raman spectroscopy, cavity ring down spectroscopy, quantum cascade laser spectroscopy), process (in situ, extractive), mode (single-mode laser gas analyzers, multi-mode laser gas analyzers), and end use (class oil & gas and chemicals, building & construction, food & beverages, healthcare, water treatment), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
Segmentation of Laser Gas Analyzer Market Research:
By System Type :
- Portable Laser Gas Analyzers
- Fixed Laser Gas Analyzers
By Laser Type :
- Tunable Diode Laser Spectroscopy (TDLS)
- Raman Spectroscopy
- Cavity Ring Down Spectroscopy
- Quantum Cascade Laser Spectroscopy
By Process :
- In Situ
- Extractive
By Mode :
- Single-mode Laser Gas Analyzers
- Multi-mode Laser Gas Analyzers
By End Use :
- Class Oil & Gas and Chemicals
- Building & Construction
- Food & Beverages
- Healthcare
- Water Treatment
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