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The anticipated growth of the global gas calorimeter market is estimated at around 4.62% CAGR throughout the forecast period, reaching a projected value of USD 633.2 million by 2025. As of 2018, the market landscape was dominated by the Asia-Pacific region, securing a substantial 37.41% share, closely trailed by North America and Europe, commanding shares of 30.19% and 21.25% respectively.
This expansive global gas calorimeter market is categorized into segments based on application and geographical region. Within the application segment, the natural gas pipeline industry emerged as the frontrunner, capturing a significant market share of 29.85%, equivalent to a valuation of USD 138.7 million in 2018, and is anticipated to expand at a CAGR of 3.55%. Geographically, the global market spans North America, Asia-Pacific, Europe, and the rest of the world. The Asia-Pacific region boasted a market worth USD 173.9 million in 2018, exhibiting an impressive growth rate of 3.90% CAGR. Concurrently, the North American market stood at a valuation of USD 140.3 million in 2018, demonstrating a robust growth trajectory at a rate of 4.93% CAGR.
The global gas calorimeter market is poised for significant expansion, with the Asia-Pacific region spearheading the market share in 2018. However, North America and Europe closely trail in market dominance, indicating a balanced landscape across these key regions. The segmentation based on application showcases the dominance of the natural gas pipeline industry, solidifying its position as a leading segment within the global market.
Analyzing the regional market performances, Asia-Pacific commands a substantial market valuation, attributed to its commendable growth rate, while North America maintains a strong foothold with a higher growth trajectory. These regional disparities underscore the diverse market dynamics and growth patterns across different geographies, highlighting the distinct opportunities and challenges prevalent within each region.
In summary, the global gas calorimeter market exhibits a promising trajectory, with significant growth anticipated across various segments and regions. The market's expansion is characterized by a diverse landscape, driven by the natural gas pipeline industry and fueled by varying growth rates across Asia-Pacific, North America, Europe, and other regions. These statistics underscore the market's potential for continued evolution and its responsiveness to regional dynamics and industry applications.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Advancements and Upgrade of Gas Calorimeter |
Gas Calorimeter Market Highlights:
Gas Calorimeter Market is projected to grow from USD 1,208.5 Billion in 2024 to USD 1,749.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.73% during the forecast period (2024 - 2032). Global Gas Calorimeter Industry Size was valued at USD 1,151.6 Billion in 2023.
Gas Calorimeter Market Overview
The calorimeter calculates heat that living organisms produce by measuring their production of carbon dioxide and nitrogen waste or their oxygen consumption. The indirect calorimeter is the method by which the type and the rate of the substrate utilization and the energy metabolism are estimated in the vivo, starting from the gas exchange measurements. This technique provides unique information, is noninvasive and can be advantageously combined with other experimental methods to investigate numerous aspects of the nutrient assimilation, thermogenesis, the energetics of the physical exercise and the pathogenesis of the metabolic diseases.
The calorimeter provides at least two pieces of information to measure the energy of the expenditure or 24-hour caloric requirements as reflected by the Resting Energy Expenditure and a measure of the substrate utilization as reflected in the Respiratory Quotient. Knowing the several factors that affect these values has led to a much broader range of applications. The calorimeter has influenced everyday practices of medical and surgical care, such as the warming of the burn unit and the surgical suites and the weaning of the patients from the ventilators.
Gas Calorimeter Market Key Competitors
The Key Players of the Global Gas Calorimeter Market are Yokogawa Electric Corporation (Japan), Azbil Corporation (Japan), RIKEN KEIKI Co., Ltd. (Japan), ABB (Switzerland), UNION Instruments GmbH (Germany), COSA XENTAUR (US), Shimadzu Corporation (Japan), Hobré Instruments B.V. (Netherlands), and HOVERLABS (India).
Industrial News:
North America is expected to dominate the market due to the increase in the obese populations across the region. Another driving factor is the availability of the better health care infrastructure in the region and the rising awareness about the facilities available for obese people. The United States holds the largest market share in the North American region.
The calorimeter market is competitive and consists of a few major players. Recently a forerunner in calorimetry with world-leading products in calorimetry and the artificial environment rooms, Fuji Medical Science has intensified the research and development collaboration in East Asia to break new ground in the treatment of aging and lifestyle diseases.
Gas Calorimeter Market Segmentation
The Global Gas Calorimeter Market is segmented based on Application.
- By Application – Natural Gas Pipeline Industry, Town Gas Industry, Gas Engine Industry, Petroleum Industry, Thermal Powerhouses, Research Labs/Institutes, Steel Plants, and Others
- By Type – Flow-through calorimeters, Continuous-flow calorimeters, Others
On the basis of application, the Global Gas Calorimeter Market is segmented into natural gas pipeline industry, town gas industry, gas engine industry, petroleum industry, thermal powerhouses, research labs/institutes, steel plants, and others. The natural gas pipeline industry segment held the largest market share in 2018. Gas calorimeters are widely used in the natural gas pipeline industry as they facilitate smooth, simple, and accurate trade transactions and conform and maintain the international measurement standards. A gas calorimeter is an ideal apparatus for liquified natural gas (LNG) calorific adjustment lines and applications that improve combustion efficiency for gas turbines and furnaces. A gas calorimeter offers a quick response within five seconds, which is over 30 times faster than traditional gas chromatographs. Moreover, gas calorimeters are available in an amazingly low one-fifth to one-twentieth price of natural gas calorimeters. They offer highly accurate measurements even with gas component fluctuations and are highly reliable compared to their counterparts available in the global market.
Gas Calorimeter Market Regional Analysis
On the basis of region, the Global Gas Calorimeter Market is segmented into North America, Europe, Asia-Pacific (APAC), and the Rest of the World.
Global Gas Calorimeter Market, by Regions
Source: MRFR Analysis
Europe is expected to witness an excellent growth in the gas calorimeter market. The increasing in research institutes and the increasing use of gas calorimeter in oil & gas and petroleum industries in Europe is expected to drive the gas calorimeter market in this region. The increasing natural gas pipeline services, rising demand for energy, and growing oil and gas exploration and production are the key factors that are boosting the demand for gas calorimeters in this region. The key gas calorimeter companies in Asia-Pacific, such as Yokogawa Electric Corporation, and Azbil Corporation, are expanding their presence in Europe through mergers, acquisitions, contracts, and agreements to increase their global market share. Such factors are expected to lead to the growth of the gas calorimeter market in Europe during the forecast period.
Germany is one of the major producers of gas calorimeter in Europe. The gas calorimeter market in Germany is expected to grow at the fastest rate due to the factors including increasing offshore production and rising demand for oil and gas and petroleum products. According to the BP statistical review 2018, Germany produced 6.4 billion cubic meters (BCM) of natural gas while it consumed 90.2 BCM of natural gas. According to the US Energy Information administration, Germany consumed 2.3 million barrels per day (b/d), making up 34% of the country’s total primary energy consumption in 2015. The increasing demand for energy production and oil & gas extraction and production is further expected to increase the demand for gas calorimeter in this country during the forecast period.
Gas Calorimeter Market Synopsis
The Global Gas Calorimeter Market has been segmented on the basis of Application, and Region. On the basis of application, the global gas calorimeter market is segmented into natural gas pipeline industry, town gas industry, gas engine industry, petroleum industry, thermal powerhouses, research labs/institutes, steel plants, and others. The natural gas pipeline industry segment is expected to dominate the market.
Key Questions Addressed by the Report
- What was the historic market size (2018)?
- Which segmentation (Application) is driving market?
- What will be the growth rate by 2025?
- How are the key players in this market?
- What are the strategies adopted by key players?
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