Market Trends of Tunable Diode Laser Analyzer Industry
Oil and Gas Industry to Hold Significant Market Share
- Tunable diode laser analyzers are widely used in the oil and gas industry for various applications due to their high speed and reliability in measuring gas concentrations. As the trend towards monitoring and automation in the oil and gas industry increases, tunable diode laser analyzers offer the capability to monitor gas concentrations remotely, enabling proactive maintenance and decision-making.
- For instance, in April 2023, ABB launched Sensi+, a small device for analyzing natural gas impurities using a special tunable laser technology known as Off-Axis Integrated Cavity Output Spectroscopy (OA-ICOS). This technology can efficiently detect corrosive elements like hydrogen sulfide, carbon dioxide, and water in real time within unpredictable natural gas streams.
- As India seeks to enhance its energy security and optimize its oil and gas operations, tunable diode laser analyzers play a crucial role in optimizing processes such as refining, liquefied natural gas (LNG) production, and pipeline transportation. These analyzers provide real-time data on gas composition, enabling operators to adjust processes for maximum efficiency and cost-effectiveness. For instance, in February 2024, Equinor, a Norwegian energy company, entered into a 15-year agreement with Deepak Fertilisers, an Indian petrochemical company, to supply liquefied natural gas. The deliveries are set to commence in 2026.
- The Indian government has been promoting initiatives to attract investments in the oil and gas sector, including exploration and production activities, refinery expansion, and infrastructure development. As companies ramp up their operations to meet growing energy demand, the demand for advanced tunable diode laser analyzers is expected to increase.
- For instance, according to IBEF (India Brand Equity Foundation), India's oil demand reached its highest point in 24 years in February 2023, attributed to increased industrial activity. This marked the 15th year in a row of rising demand.
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Asia-Pacific to Witness Significant Growth
- Countries in the Asia-Pacific region, such as China, have enforced stricter environmental rules to address air pollution and enhance air quality. Tunable diode laser analyzers play a role in monitoring emissions and aiding industries in meeting these regulations.
- Government regulations are becoming stricter, and emissions are increasing, leading to poor air quality, which is why continuous emission monitoring devices are in demand. The tunable diode laser analyzer can detect gases and pollutants, including greenhouse gases, making it ideal for industries looking to meet environmental standards and control emissions effectively.
- The market is expected to experience growth due to the rising demand for affordable, accurate products in developing countries like India, China, and Japan. In addition, the stricter enforcement of government regulations in China, Japan, and South Korea has prompted companies to invest in advanced tunable diode laser analyzers. Consequently, companies are investing in safety measures to prevent potential disasters rather than dealing with the aftermath.
- Japan is advancing in industrial automation and digitalization. Tunable diode laser analyzers are crucial in automated monitoring, enabling real-time analysis of gas concentrations and supporting strategies to minimize downtime and enhance productivity.
- According to the International Trade Administration, Japanese companies in the manufacturing sector are projected to invest approximately USD 4.1 billion in digital infrastructure by the year 2030, a significant increase from the current investment of less than USD 1 billion, thus driving the demand for the market studied.
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