Future Market Insights (FMI) has forecasted the FTIR Gas Analyzer market is predicted to expand with a year-on-year growth of 8.5% in 2023 reaching a value of about USD 1,375 million by 2023 end. The global market is expected to witness a promising value CAGR of 8.5% from 2023 to 2033.
FMI has identified the United States to remain one of the key markets for FTIR Gas Analyzers over the forecast period owing to increasing demand from end-use applications. The region is estimated to witness a value growth of 8.0% in the industry of FTIR gas analyzer market. Gas-based applications have increased tremendously in recent years like the installation of CNG, and LPG pipelines worldwide anticipated to push the market.
Leading companies are concentrating on developing technologically sophisticated FTIR gas analyzers for car emissions, agricultural emissions, biofuel exhaust evaluation, natural gas analysis, waste incineration, and other applications. For example, Horiba Ltd., a prominent manufacturer of FTIR gas analyzers, has released the world's smallest stationary FTIR gas analyzer, which features a highly dynamic system and a fast reaction time.
The automobile sector is developing significantly across the world, particularly in North America and Europe because of the strong presence of significant manufacturers. As a result, these factors are expected to drive the FTIR gas analyzer market worldwide throughout the forecast period.
| Attributes | Details |
|---|---|
| FTIR Gas Analyzer Market Estimated Year Value (2023E) | USD 1,375 million |
| FTIR Gas Analyzer Market Projected Year Value (2033F) | USD 3110.6 million |
| Value CAGR (2023 to 2033) | 8.5% |
| Collective Value Share: Top 3 Countries (2023E) | 34.4% |
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Concerns about the earth's changing climate have prompted the development of better-measuring potentials for greenhouse gases in the atmosphere, opening doors for the usage of FTIR gas analyzers to perform air quality control (QC). Furthermore, growing environmental concerns in Asian nations such as China and India are leading to serve more stringent emission standards.
Stringent emission requirements imposed by regulatory agencies such as the Environmental Protection Agency (EPA) are forcing automakers to design vehicles that meet the criteria set out by governments all over the world.
As a result, automakers must get governmental licenses to maintain their production footprint. FTIR gas analyzers are in high demand for testing gas purity and verifying gas mixing as oil and gas drilling operations increase in parallel with exploratory projects.
FTIR Gas Analyzers are becoming more popular as process automation improves. Process automation has recently been a major trend in the FTIR Gas Analyzers market due to the requirement for mass manufacturing. The market is changing toward Industry 4.0 standards, resulting in the promotion of new technologies and their nearly universal acceptance.
Process automation in FTIR Gas Analyzers has received a boost following recent improvements in analyzer digitization. The usage of accurate gas flow analyzing instruments is required for the automation of processes to carry out efficient industrial operations, which makes the FTIR Gas Analyzer an appropriate tool.
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Europe is leading in FTIR Gas Analyzer Market, and the market in Europe is predicted to increase significantly from 2023 to 2033. Europe holds a prominent position in the automotive and oil and gas markets. As a result, the demand for FTIR Gas Analyzers is predicted to surge in the next years.
The region also exports a significant amount of its products to the Middle East & Africa, and Latin America, where manufacturers are few and market prospects are plentiful. The presence of various market companies involved in the manufacture of FTIR Gas Analyzer is predicted to reveal a variety of crucial market development activities.
Germany's manufacturers are increasing market share (one-fifth of Europe FTIR Gas Analyzer market) by supplying what today's customers want. Biogas and biomethane production has increased in recent years, and flowing gas analysis has become critical.
Devices that can sustain and show accurate results have become mandatory, and demand for FTIR gas analyzers has increased in Germany and nearby nations in recent years. This trend is expected to continue to drive sales in the coming years because of the growing popularity and knowledge of alternative energy sources that adversely affect on the environment. Germany is expected to thrive at a growth rate of 8% during the forecast period.
The United States is expected to create an absolute dollar opportunity of USD 163.0 million in the market. The United States also contains small to medium-sized manufacturers, and the country's proximity to them for after-sales servicing makes it a leading market for FTIR Gas Analyzer. Furthermore, there are several end-user markets in the United States, which keeps the gas analyzer industry thriving.
The oil and gas business, for example, is always booming in the United States. Other end users, such as the automotive industries, have demonstrated strong demand for FTIR gas analyzers for the projection period from 2023 to 2033.
FTIR gas analyzer consumption has increased in this nation and is expected to follow the same pace of growth in the forecast period. Thanks to a spike in oil and natural gas income, as well as a building and investment boom powered by decades of petroleum revenue savings, this area boasts among the world's significant growing economies.
Saudi Arabia, the United Arab Emirates, Kuwait, and Qatar, the core GCC states, are the world's leading oil and gas producers, and imports of precision instruments for measurement purposes are boosting sales of FTIR gas analyzers. Further, the sales of FTIR gas analyzers are projected to expand by 6.2% CAGR in terms of volume during the upcoming assessment period from 2023 to 2033.
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The rack mount segment is projected to create an absolute dollar opportunity of more than USD 523.3 million from 2023 to 2033.
The rack mount segment is having a significant market share in the FTIR gas analyzer market owing to the high consumption of this type of gas analyzer in the industries and labs where the accuracy of measurement matters. This segment is expected to thrive at a growth rate of 9.0% in the following years.
The oil & gas segment is expected to hold a market share of more than 25.0% in 2023. Another element driving sales growth is that many sectors are moving toward automation, and the FTIR gas analyzer exactly meets the needs of many of these businesses, especially with the introduction of Industry 4.0 standards. The reason behind such a vast number of sales is the fact that oil and gas can adequately conduct gas analyzing processes by FTIR gas analyzer for efficient and accurate outputs.
The rack mount segment is projected to create an absolute dollar opportunity of more than USD 460.0 million from 2023 to 2033. This segment is predicted to expand at a growth rate of 9.2% in the market. Owing to the demand for highly concentrated gas applications from the end-use industries is expected to push the FTIR gas analyzer market further.
The upshift in sales of FTIR gas analyzers is because they give precise figures in measurement and the industry is moving toward precision analysis techniques.
Leading players operating in the FTIR gas analyzer market are investing in strategic collaborations, mergers, and acquisitions to expand their production facilities across the globe. Apart from this, players are focusing on research and development to launch high-quality and durable braking systems to gain a competitive edge. For instance:
The latest study conducted by Future Market Insights covers all the strategies and success factors of key manufacturers of the market.
| Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| FTIR Gas Analyzer Market Estimated Year Value (2023E) | USD 1,375 million |
| FTIR Gas Analyzer Market Projected Year Value (2033F) | USD 3110.6 million |
| Value CAGR (2023 to 2033) | 8.5% |
| Market Analysis | USD million for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia & Pacific; East Asia; The Middle East & Africa (MEA) |
| Key Countries Covered | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Segments Covered | Portability Type, End Use, Equipment Type, and Region |
| Key Companies Profiled | BREMBO S.p.A.; Surface Transforms PLC; MAT Foundry Group Ltd.; TVR Automotive Limited; Alfa Romeo Automobiles S.p.A.; Audi AG; Volkswagen of America, Inc.; Carroll Shelby International, Inc.; ALPINA Burkard Bovensiepen GmbH + Co. KG; BRABUS GmbH; ABT Sportsline GmbH; DeLorean Motor Company |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The FTIR gas analyzer market size is valued at USD 1,375 million in 2023.
The FTIR gas analyzer market is projected to thrive at 8.5% CAGR through 2033.
The FTIR gas analyzer market is predicted to surpass USD 3,110.6 million by 2033.
The top 3 countries acquire 34.4% of the market share in 2023.
Germany is predicted to develop at an 8% CAGR in the FTIR gas analyzer market by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Portability Type 5.1. Rack Mount 5.2. Portable 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-Use 6.1. Automotive 6.2. Chemical 6.3. Agriculture 6.4. Oil & Gas 6.5. Research & Development 6.6. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Equipment Type 7.1. High Concentration Range (up to ppm level) 7.2. Low Concentration Level (ppb and ppm level) 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. BREMBO S.p.A. 18.2. Surface Transforms PLC 18.3. MAT Foundry Group Ltd. 18.4. TVR Automotive Limited 18.5. Alfa Romeo Automobiles S.p.A. 18.6. Audi AG 18.7. Volkswagen of America, Inc. 18.8. Carroll Shelby International, Inc. 18.9. ALPINA Burkard Bovensiepen GmbH + Co. KG 18.10. BRABUS GmbH 18.11. ABT Sportsline GmbH 18.12. DeLorean Motor Company 19. Assumptions & Acronyms Used 20. Research Methodology
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FTIR Gas Analyzer Market
