Frost & Sullivan says stricter environmental regulations to revive COVID-19 and highlight new growth opportunities in the market
Santa Clara, California., November 18, 2020 / PRNewswire / – Frost and Sullivan’s recent analysis, Environment and Safety Mandate Driving the Global Oil and Gas Analytical Instrumentation Market, 2020-2026, Estimates that demand for analytical instrumentation in the oil and gas industry will reverse in 2022, leading to market revenue expected 4.7% increase Compared to 2021. Additionally, oil and gas production is expected to expand North America And APAC, further increases the demand for analytical instrumentation.
For more information about this analysis, please see: http://frost.ly/4tu
“The fall in oil prices due to the COVID-19-induced slowdown caused a crash in the oil and natural gas markets in 2020. However, there will be demand for chromatographs And Natural gas analyzer To optimize production and allow budget cuts in oil and gas production Janani Balasundar, Industrial Research Analyst for Frost & Sullivan. “New sources of gases including biogas, hydrogen and synthetic methane are being introduced for domestic and commercial energy systems Reduce gas consumption, While a low carbon shift is being felt in the midstream and downstream sectors. These developments will further increase the need for analyzers to measure these gases and their relative carbon emission. “
Balasundar Added: “North America Oil and gas will dominate the market in terms of production and expansion. Production of shale gas Demand in this region is expected to remain strong Process analysis. In United States, Non-conventional sources of fuel used in the production of natural gas are expected to increase substantially in the coming years, requiring an analyzer to efficiently monitor gases. After this the demand will increase further Asia Pacific The area, where several new oil and gas projects are expected to begin operations in the next eight years. Market growth for the oil and gas sector Europe COVID-19 is predicted to be sluggish due to the effect of hardening environmental regulations, Which will suppress demand for analytical instruments. “
For more revenue opportunities, market participants need:
- Offer multiple measurement capabilities in a single system to reduce overall operating expenses.
- Improve the analytical capabilities of a gas analyzer specifically for measuring Carbonated gas And reduce throughput time.
- Develop Laser Analyzer for Target Emission monitoring applications As they demonstrate superior emission-monitoring performance with high reliability and low maintenance.
- Increase focus on North American and APAC markets Capitalize on anticipated investment In the oil and gas fields in these areas.
- Work closely with regulatory authorities to support clients in their efforts to follow regulatory guidelines.
- Follow the customer-centric business model to overcome the impact of COVID-19.
Environment and Safety Mandate Driving the Global Oil and Gas Analytical Instrumentation Market, 2020-2026 Frost & Sullivan is part of the global Measurement and equipment Growth Partnership Service Program.
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Environment and Safety Mandate Driving the Global Oil and Gas Analytical Instrumentation Market, 2020-2026
Jaylon brinkley – Industrial communication
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