Gas Calorimeter Market: Industry Analysis and Forecast (2024-2030), Trends, Statistics, Dynamics, Segmentation

Gas Calorimeter Market Overview

Globalization and the rapid rise of the population have increased the demand for oil and gas and petroleum products. For instance, the global liquified natural gas is expected to grow at a CAGR of 8 percent and was valued at 108.91 Billion USD in 2021. The stringent pollution rules implemented by the governments is expected to serve as a significant driver for the Gas Calorimeter market. The gas calorimeter is a device used to measure and control the calorific value of the sample fuel; the calorific value is determined by burning the gas and noting the temperature difference with the inlet air, thus converting it into differential pressure and digital signal. Gas calorimeters have high reliability and accurate measurement and thus have applications in gasoline, coke, fuel industries, etc.

 

The effect of the Covid-19 pandemic on the Global Calorimeter market is devastating, with the market experiencing negative demand. The pandemic has suspended all the ongoing projects and the entire supply chain of the power industry. With normalcy in power and gas gaining traction among the nations across the globe, the Gas calorimeter market is projected to grow steadily.

 

 

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Increase in Shale oil and gas extraction

The world's desire for secure access to energy supplies is growing; shale oil and gas have played a significant role in satisfying global energy demand during the energy transition and are likely to continue to do so for decades as society transitions to lower-carbon energy sources. The fast expansion of shale oil and gas contributes to increased supply security and lower consumer pricing.

 

Natural gases such as propane and butane are fuelling homes, vehicles, and industries during this energy transition to cleaner resources. Natural gas, primarily associated with gas from oil production, will continue to play an essential role in the direct decarbonization of power generation while also allowing for practical, cost-effective solutions, low-carbon wind, and solar energy development by supplying backup energy.

 

Governments across the globe are making notable investments in the oil and gas industry; for instance, In India, Oil and Gas projects worth Rs 1 lakh crore are to be completed by 2025. The U.S. government invested 10 billion dollars in the oil and gas industry during the pandemic, signifying its economic importance.

 

Upsurge in Power Generation Globally

The rapid rise of Industrialization and population have created unprecedented demand for power worldwide, especially in developing countries. The global population is expected to rise by two billion up to 2025; with an increased standard of living, electricity consumption is projected to increase by 52 percent. According to the IEA's 2021 report, global demand for natural gas is forecast to rise by 31% by 2040, supplying 17% of total energy consumed globally, while global oil demand is expected to increase by 21%, delivering 35% of total energy consumed. The emerging markets of India and China are likely to be at the forefront of driving the demand for the Gas Calorimeter Market.

 

Gas Calorimeter Market Limitations

The high initial investment cost of gas calorimeters can prove to be a market restraint in underdeveloped economies. The lack of knowledge and skilled labor required for the operation of gas calorimeters and energy prices, which have risen by 18 percent worldwide, could prove to be a significant factor for the market of Gas Calorimeter.

 

Gas Calorimeter Market Segment Analysis

The Gas Calorimeter market is segmented by product type, application, and geographical region. The gas calorimeter market by product type is divided into portable and stationary and by application in Gasoline Industry, Coke and Coal Industry, Food Industry, Construction Industry, and other segments. The report also contains geographical segmentation of Europe, North America, Asia-Pacific, Middle East, and South America.

 

Portable gas calorimeters are compact and lightweight, with a warming time of five minutes; gases used can be liquified natural gas or liquified petroleum gas. Although Portable gas calorimeters can be transported easily, they have limited applications; stationery gas calorimeters dominate the market. In 2021, the Global oil and Gas market was valued at USD 5871.20 Billion, which holds the most significant share in the Global gas calorimeter market. According to SEI (Stockholm Environment Institute), in the last two decades, the U.S. government added 20 Billion dollars per year, amplifying expected profits and causing U.S. shale oil and gas booms.

 

The coke and coal industry has a traditional application of gas calorimeters to determine calorific value and amount of steam extracted. Metallurgical coke is the raw material for manufacturing iron and steel; the metallurgy coke industry is projected to reach 242.3 Billion USD by 2027, stimulating demand for gas calorimeters globally. Gas calorimeters are used to determine the calorific value of food by combustion under an oxygen atmosphere surrounded by water under controlled conditions. With the rising population, especially in developing nations food industry is expected to boom, causing an increase in applications for gas calorimeters.

 

 

In 2020, Switzerland, USA and Germany were the major exporter of Global Gas Calorimeter holding significant market share.

 

Gas Calorimeter Market Regional Analysis

Developing countries like India and China are expected to drive the growth of the Gas Calorimeter market in this region, boosted further by major market players like Yokogawa corporation, Azbil Corporation, and small regional corporations. The consumption of natural gas (LNG) in India is expected to rise by 25 million cubic meters growing at 9 percent CAGR per year. In July 2021, the department for promotion of industry and internal trade (DPIIT) allowed 100 percent foreign direct investment under an automatic route for oil and gas PSUs; Asia-Pacific is projected to emerge as a leader of the gas calorimeter market by 2030.

 

Government investments and a rapid increase in research facilities make the European region a lucrative market for Gas Calorimeters. Germany is one of the major producers of gas calorimeters across the globe fuelled by offshore gas production, and it is expected to continue its dominance. According to CEDIGAZ statistics, U.S., Qatar, and Russia account for 70 percent oil and gas supply to Europe.

 

The United States produced over 33.5 trillion cubic feet (Tcf) of dry natural gas in 2020, an average of roughly 91.5 billion cubic feet per day and the second-highest annual volume ever recorded. The USA produces an almost equal amount of gas consumed, creating market opportunities for the Gas Calorimeter Market. With rising infrastructural developments, the rise of the food industry, and the oil and gas industry determining the calorific value of products have attained significance due to stringent guidelines. Thus, the gas calorimeter market is expected to make notable progress in the Middle East and Africa, boosted by rich natural resources.

 

This report aims to analyze current market trends and potential opportunities to enhance growth to succeed in the industry. The report identifies factors influencing market dynamics and development of the Gas Calorimeter Market and how this will control investment during the forecasting period. The report studies regional markets to provide valuable insights into revenue and predicted value; information also includes the competitive landscape of key industry players and their recent developments.

 

Through comprehensive research supported by qualitative and quantitative data, this report provides essential information on the market behavior during the projection period (2024-2030). It also recognizes dominant segments in the market, projects their development, and identifies new elements that will dominate with technological advancements.

 

 

The report contains detailed analyses through Porter's five forces model to determine the industry's structure and help devise a corporate strategy for the market. The model reports provide essential information about stakeholders' influence, product quality, substitute products, etc. The report also analyses whether the Gas Calorimeter Market is accessible for new competitors to gain a foothold, whether they enter or exit the market regularly, and if a few players dominate it.

 

A measured approach is adopted through Pestel analysis to quantify factors including government policies, economic structure, and political situations that will affect the development of this sector. Economic variables aid in studying financial performance drivers that impact the Gas Calorimeter Market. The report also considers environmental and legal factors that may affect the progress in this industry.

 

Gas Calorimeter Market Scope

Gas Calorimeter Market
Market Size in 2023	USD 603.35 Mn.
Market Size in 2030	USD 843.33 Mn.
CAGR (2024-2030)	4.9%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Product Portable Stationary
	By Application Gasoline Industry Coke and Coal Industry Food Industry Construction Industry Others
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Major Competitors

The Gas Calorimeter demands innovation and progress in a continuously changing landscape with new government policies and development. Thus, significant players often opt for strategies to invest in research and more recent technologies to be market-ready. Detailed profiles about the competitors, including revenue, market size, analysis, and technological advancements, are covered in this report.

• Yokogawa Electric Corporation (Japan)
• UNION Instruments GmbH (Germany)
• COSA XENTAUR (U.S.)
• Shimadzu Corporation (Japan)
• Azbil Corporation (Japan)
• RIKEN KEIKI Co., Ltd. (Japan)
• ABB (Switzerland)
• Hobré Instruments B.V. (Netherlands)
• HOVERLABS (India)
• G.H. Zeal (United Kingdom)
• DDS Calorimeter (South Africa)
• Parr Instrument Company (U.S.)
• MKS Instruments, Inc. (U.S.)
• Elster Group (U.S.)