The FTIR Gas Analyzer market is forecasted to grow with a year-on-year increase of 8.5% in 2023, reaching an estimated value of USD 1,375 million by the end of the year. From 2023 to 2033, the market is expected to see a promising compound annual growth rate (CAGR) of 8.5%. The United States is anticipated to be a major contributor to market growth, driven by rising demand in various end-use sectors. Gas-related applications, such as the installation of CNG and LPG pipelines, are also expected to further stimulate the market.
Leading manufacturers are focusing on advanced FTIR gas analyzers for various applications including car emissions, agricultural emissions, biofuel exhaust evaluation, and natural gas analysis. For instance, Horiba Ltd. has developed the world’s smallest stationary FTIR gas analyzer, featuring a highly dynamic system and fast response time. With the rapid development of the automotive sector in regions like North America and Europe, the demand for FTIR gas analyzers is set to increase, supporting market growth during the forecast period.
Key Takeaways:
- 5% YoY Growth: The FTIR gas analyzer market is expected to grow by 8.5% in 2023, reaching USD 1,375 million by the end of the year.
- Promising Long-Term Outlook: The market is projected to experience a CAGR of 8.5% from 2023 to 2033, driven by increasing demand across various sectors.
- Strong Demand in the US: The United States is expected to remain a key market for FTIR gas analyzers, witnessing a growth of 8.0% due to increased gas-based applications.
- Technological Innovation: Leading companies are developing advanced FTIR gas analyzers for automotive emissions, agricultural emissions, and natural gas analysis.
- Automotive Sector Growth: The growth of the automobile sector in North America and Europe is expected to further drive the demand for FTIR gas analyzers during the forecast period.
FTIR Gas Analysers Market: Key Determinants
Technological Advancements Associated with FTIR Gas Analysers
Rapid Technological advancement associated with the FTIR gas analyser is one of the vital factors the propels the market growth of the FTIR gas analyser considerably. Technological advancement such as portability allows industry players to carry FTIR gas analyser on site and off site also. Easy transportability of FTIR gas analyser from on-site to off-site ultimately ease the gas monitoring process. The rapid adoption of FTIR gas analyser due to the easy transportability is fuelling the market growth of the FTIR gas analyser market. Increasing demand for these advanced FTIR gas analysers for car emission monitoring, agriculture emission monitoring, stack gas emission monitoring is also contributing to the growth of the FTIR gas analyser market. Favourable initiatives taken by various countries to reduce and control the gas emission is also boosting the FTIR gas analyser market.
On the other hand, high prices associated with FTIR gas analyser is one of the factors that hamper the growth of the market. Lesser awareness regarding the air pollution in few regions in developing countries across the globe is also hindering the FTIR gas analyser market growth.
Competitive Landscape
Key players in the FTIR gas analyzer market are focusing on strategic initiatives such as collaborations, mergers, and acquisitions to broaden their global production capabilities. Additionally, companies are investing in research and development to introduce high-quality, durable products and strengthen their market position. Notable developments include:
- Broker acquired XGLab S.r.l. in 2017, a company specializing in the development and manufacturing of analytical instruments.
- In January 2019, HORIBA, Ltd. acquired all shares of MANTA Instruments, boosting its environmental process product offerings.
- Thermo Fisher Scientific made a significant move in August 2017 with the acquisition of Patheon N.V., a leader in contract development and manufacturing.
- In September 2022, Thermo Fisher launched the Thermo Scientific™ MAX-iRTM FTIR Gas Analyzer, designed for in-line processes, batch collection, gas purity certification, emissions evaluation, and ambient air monitoring. This model, paired with StarBoost™ optical technology, offers detection limits in the single-digit ppb range across multiple industries.
- In August 2022, MKS Instruments introduced the MultiGas™ 2032 Purity Analyzer, an FTIR-based device capable of detecting ppb-level contaminants in high-purity gases, such as NH3, NF3, and hydrogen, thereby improving the quality of bulk gas production.
FTIR Gas Analyzer Market Segmentation
By Portability Type:
- Rack Mount
- Portable
By End-Use:
- Automotive
- Chemical
- Agriculture
- Oil & Gas
- Research & Development
- Others
By Equipment Type:
- High Concentration Range (upto ppm level )
- Low Concentration Level (ppb and ppm level)
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa (MEA)
Report Preview: https://www.futuremarketinsights.com/reports/ftir-gas-analysers-market
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