Global Marine Gas Analyzers Market Size By Product Type(Portable and Fixed), By Application(Retrofit and New Ships), By Geographic Scope And Forecast

Marine Gas Analyzers Market Size And Forecast

Marine Gas Analyzers Market size was valued at USD 86,949.73 Thousand in 2021 and is projected to reach USD 1,27,462.03 Thousand by 2030, growing at a CAGR of 4.61% from 2023 to 2030.

The market for marine gas analyzers is rapidly expanding as a result of the advantages provided by gas analyzers in analyzing the emissions of ships carrying different goods across various sea routes. The surging categorization of gas analyzers along with the availability of different types of analyzers based on the requirements drives the market growth in the coming years.  The Global Marine Gas Analyzers Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Marine Gas Analyzers Executive Summary

A gas analyser is a device capable of analyzing the types of chemical gases contained in a sample. It not only recognizes the species, but it also has the capacity to provide a measurement value of the quantity, which it presents either numerically or graphically. High humidity and filthy environments are common in marine applications. Marine gas analyzers are often employed in marine environments for monitoring levels of different gases emitted by marine ships and are considered to be a reliable and accurate measurement machine for O2, SO2, CO, CO2, and other hydrocarbons to assist ships in achieving and confirming compliance with MARPOL Annex-VI and the NOx Technical Code and obtaining IAPP certification. The market for marine gas analyzers is rapidly expanding as a result of the advantages provided by gas analyzers in analyzing the emissions of ships carrying different goods across various sea routes. The surging categorization of gas analyzers along with the availability of different types of analyzers based on the requirements drives the market growth in the coming years. Furthermore, the growing advancement in providing real-time analysis of various gases composition helps in boosting its demand among the marine companies operating their ships for different trading purposes. However, maintenance, repair, and other factors tend to impede the market growth. Nevertheless, several governmental regulations in reducing emissions along with the adoption of new technologies provide lucrative growth opportunities for the marine gas analyzers industry in the forecasted period.Based on the type segment, the marine gas analyzers is segmented into portable and fixed. On the basis of the application, the global marine gas analyzers is split into retrofit and new ships.

Several industry participants involved in the marine gas analyzers industry boost their industry presence, through partnerships and collaborations. Over the anticipated timeframe, new entrants will grow steadily, powered by substantial profit margins. Vimex/Norsk, SICK, Green Instruments (Denmark), EmsysWz, Fuji Electric, Cubic-Ruiyi, Consilium, ABB, Horiba, and Danfoss are some prominent players in the market.

Global Marine Gas Analyzers Market Outlook

Maritime shipping is an essential component of global trade. It is related to numerous industries. Shipping is used to convey food, medicines, technology, and many other items. Cost-effective shipping methods are used for growth and sustainable development, particularly in poor countries. No country in the world can survive without maritime shipping. Because maritime shipping is completely dependent on trade and business, it has become a crucial component in propelling the global economy.

An increase in worldwide trade is one of the key drivers of maritime industry growth. Seaborne trade reached a record high of 10.6 billion metric tonnes in 2020, and it is expected to rise further in the coming years. Several causes are driving this increase, including the rise of developing countries, population growth, and urbanization. As more people relocate to cities and have discretionary income, they are increasingly searching out new goods and services from around the world. Offshore energy generation is also an important driver of maritime sector expansion. Offshore oil and gas production reached a new high in 2018, and this trend is projected to continue in the coming years. This expansion is being driven by technological developments that have enabled the extraction of resources from deeper oceans, as well as the increasing demand for energy from developing nations. As the demand for offshore energy grows, so does the demand for support boats, engineering services, and other nautical products and services. Increasing categorization and variation in types of marine gas analyzers and nuances in the overall market have uplifted and given a new direction fueling the market growth. The region of Asia Pacific holds the largest market share in the marine gas analyzers market owing to the increased global trade via sea route from the major developing countries such as China, India, Indonesia, Vietnam, and other Asian countries. The increased fleet of cargo ships used for trading goods across the globe uses these marine gas analyzers to check on their emissions and keep them under control as per the guidelines and regulations provided given by IMO. Asian countries are seeing a significant increase in intra-regional trade, which is primarily based on manufacturing trades and reflects fragmented production processes in which various raw materials are generally extracted in multiple locations across Asia and used in another. This is also predicted to increase trade, which will be aided by marine transportation, increasing the demand for marine gas analyzers.

Global Marine Gas Analyzers MarketSegmentation Analysis

The Global Marine Gas Analyzers Market is segmented on the basis of Product Type, Application and geography.

Marine Gas Analyzers Market by Product Type

•  Portable
• Fixed

To Get Summarized Market Report By Product Type-

Based on Product Type, the market is segmented into Portable and Fixed. The Global Marine Gas Analyzers Market is experiencing a scaled level of attractiveness by Type segment. The Portable segment holds the highest share of the global market in 2021. It is anticipated to account for the highest market share by 2030. A portable gas analyzer is mostly used for quantitative reasons, such as determining the gas concentration and analyzing physical parameters such as concentration, temperature, pressure, and gas flow rate. Its straightforward and self-explanatory design makes it simple to evaluate the analyzer’s operation. Portable gas analyzers are often used in the maritime sector to measure the concentration of certain gaseous components. Marine portable analyzers are typically compact as compared to fixed analyzers, and these handheld instruments may be carried on-site and provide fast gas analysis results to the user.

Marine Gas Analyzers Market by Application

• Retrofit
• New Ships

To Get Summarized Market Report By Application-

By the basis of Application, the market is segmented into Retrofit and New Ships. The Retroshift segment holds the highest share of the global market in 2021. It is anticipated to account for the highest market share of 29.80% by 2030. Retrofitting is considered the installation of state-of-the-art or cutting-edge parts or systems on ships. This process may be driven by the need to meet new regulatory criteria or the ship owner’s desire to improve the ship’s operational standards. The shipping industry should adopt the retrofitting of the gas analyzers as standard procedure, including it across the whole value chain and continually looking for new business prospects.

Marine Gas Analyzers Market by Geography

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

To Get Summarized Market Report By Geography- 

On the basis of regional analysis, the Global Marine Gas Analyzers Market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The Global Marine Gas Analyzers Market is experiencing a scaled level of attractiveness in North America. Asia Pacific has a prominent presence and holds the highest share of the global market. It is anticipated to account for the highest market share by 2030. The region is projected to grow at a CAGR of 3.68% between 2023 and 2030. Asian countries are seeing a significant increase in intra-regional trade, which is primarily based on manufacturing trades and reflects fragmented production processes in which various raw materials are generally extracted in multiple locations across Asia and used in another. This is also predicted to increase trade, which will be aided by marine transportation, increasing the demand for marine gas analyzers.

The increased movement of dry bulk commodities across regional waterways will fuel growth prospects for the European gas analyzers market throughout the forecast period. During the forecast period, the gas analyzers industry in Europe will see potential growth driven by product development based on demand, such as the development of portable gas analyzers. Businesses in this industry are investing heavily in order to deliver better services to their customers by providing analyzers that work accurately helping in detecting the various gases emitted by these ships.

Key Players

The major players in the market are; include Norsk Analyse AS, SICK, Green Instruments A/S, Emsys Maritime Ltd., Fuji Electric Co., Ltd., Hubei Cubic Ruiyi Instrument Co., Ltd., Consilium, ABB, HORIBA, Ltd., and Danfoss among others.

This section provides company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.

 Company Market Ranking Analysis

The company ranking analysis provides a deeper understanding of the top 3 players operating Marine Gas Analyzers market. takes into consideration several factors before providing a company ranking. The top three players for the Marine Gas Analyzers market are ABB, SICK, and Fuji Electric. The factors considered for evaluating these players include company’s brand value, product portfolio (including product variations, specifications, features and price), company presence across major regions, product related sales obtained by the company in recent years and its share in the total revenue. further study the company’s product portfolio based on the technologies adopted or new strategies undertaken by the company to enhance their market presence globally or regionally. We also consider the distribution network (online as well as offline) of the company that helps us to understand the company’s presence and foothold in various Marine Gas Analyzers markets.

 Company Regional/Industry Footprint

The company’s regional section provides geographical presence, regional level reach, or the respective company’s sales network presence. For instance, Starbucks corporations has its presence globally i.e., in North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.Apart from this, the industrial footprint section provides a cross-analysis of industry verticals and market players that gives a clear picture of the company landscape concerning the industries they serve their products. The product portfolio of the companies is classified in terms of their diversification as well as the number of products/services that are available. The geographic reach and the market penetration are determined considering the penetration of the company’s products and services in various geographical regions and industries.

 Ace Matrix

This section of the report provides an overview of the company evaluation scenario in the Marine Gas Analyzers market. The company evaluation has been carried out based on the outcomes of the qualitative and quantitative analyses of various factors such as the product portfolios, technological innovations, market presence, revenues of companies, and the opinions of primary respondents.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Marine Gas Analyzers Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Report Scope