Flue Gas Analyzer Market to Reach USD 1252.46 Million by 2028

Vantage Market Research

Dec 03, 2021

The Flue Gas Analyzer Market is expected to reach USD 1252.46 Million by 2028, growing at a CAGR of 6.51% between 2021 and 2028. The rising activities for environment protection and stringent environmental as well as legal regulations coupled with growing health and safety concerns are factors driving the market growth.

Key Findings

  • The Portable segment is projected to expand at the CAGR exceeding 4.7% over the forecast period. The factor driving the segmental growth is, portable flue gas analyzer quickly detected the leaking gas, and the corrective measures are taken on time. Additionally, the portable flue gas analyzers are convenient to carry and can be easily put into the toolbox.
  • The Oil & Gas segment held a market share of around 38% in 2020. Flue gas analyzers are used at different stages in the oil and gas industry. A Flue Gas Analyser enables to the measurement of concentrations of several gases and adjust the burners on a boiler to help in achieving optimal combustion.
  • Asia Pacific held a CAGR of over 8.9% from 2021 to 2028. The demand for flue gas analyzers is high in developing economies like India and China. Additionally, a higher number of manufacturers with the expansion of the existing capacity of manufacturing plants is driving the market growth.

Some of the key players in the Flue Gas Analyzer Market are Robert Bosch Gmbh, IMR Environmental Equipment, Inc, Siemens, Testo Ag, Teledyne Technologies, Endee-Engineers, Mru Gmbh, Wuhan Tianhong Instruments, Beijing Sdl Technology, Kane International Limited, among others.

The Global Flue Gas Analyser Market is growing due to its increasing usage in several industries such as chemical, automobiles, and food. Rapid industrialization coupled with strict government laws for environmental protection as well as industry standards towards the environmental concerns are factors fuelling Flue Gas Analyzer market growth. On the contrary, the high cost involved in the implementation of small-size manufacturing plants coupled with a lack of awareness in several regions is anticipated to pull down the Flue Gas Analyser Market.

Europe is poised to record the highest CAGR in 2020. The growth in the region is driven by strict regulations and policies by the government for environmental protection. Additionally, the growing industrialization in the region is supporting market growth.