Environmental and Safety Mandates Driving the Global Oil & Gas Analytical Instrumentation Market, 2020–2026

Environmental and Safety Mandates Driving the Global Oil & Gas Analytical Instrumentation Market, 2020–2026

Applications in the Refining Segment, Including Monitoring of Air/Water Quality and Measuring Gas Emissions, to Present Increased Growth Opportunities

RELEASE DATE
17-Sep-2020
REGION
Global
Research Code: K3F0-01-00-00-00
SKU: TM00644-GL-MT_24724
AvailableYesPDF Download
$4,950.00
In stock
SKU
TM00644-GL-MT_24724
$4,950.00
DownloadLink
ENQUIRE NOW

Description

Environmental mandates on achieving a low carbon footprint are driving the analytical instrumentation market in the oil & gas industry. Applications in the refining segment, including monitoring of air/water quality and measuring greenhouse gas (GHG) emissions, to present increased growth opportunities.

The market for analytical instrumentation in the oil & gas industry crashed due to the Coronavirus 2019 (COVID-19) induced slowdown that caused a decline in oil prices due to oversupply and less demand. The global demand for gas is expected to peak in 2026 and surpass that for oil, making it the world's primary energy source. This will result in a high demand for analytical instrumentation in upstream and midstream activities.

Research Scope

Analytical instrumentation in the oil & gas industry consists of 3 main operational components – upstream, midstream, and downstream sectors.

The upstream sector involves the exploration for and extraction of petroleum crude oil and natural gas. It includes the searching for potential underground or underwater oil and gas fields, drilling of exploratory wells, and subsequently operating the wells that recover and bring the petroleum crude oil and/or raw natural gas to the surface.

The midstream involves storing, marketing and transporting petroleum crude oil, natural gas, and natural gas liquids (mainly ethane, propane and butane).

The downstream sector involves the refining of petroleum crude oil and the processing of raw natural gas. It includes the selling and distribution of processed natural gas.

Gas analyzers, liquid analyzers, infrared and UV-Vis spectrometer, gas chromatographs, and mass spectrometers are the main analytical technological segments included in this research.

Sub-product segments included in the research are:

  • Flame Ionization Detector
  • Thermal Conductivity Detector
  • Chemiluminescence Detector
  • Conductivity Analyzer
  • Total Organic Carbon (TOC)
  • pH/oxidation-Reduction potential (ORP)
  • Turbidity Meter
  • Colorimeter
  • Dissolved Oxygen
  • Chlorine Analyzer
  • Gas Chromatographs
  • Infrared Spectrometer
  • Ultraviolet-Visible Spectrometer
  • Mass Spectrometers
  • Tunable Diode Laser Spectroscopy Analyzer
  • Zirconia Analyzer
  • Non-dispersive infrared (NDIR) Analyzer
  • Paramagnetic Analyzer
  • Electrochemical Analyzer

Key Findings

  • Oil demand will peak around the mid-2020s, which will result in extreme upstream activities.
  • The global demand for gas is expected to peak in 2026 and surpass the demand for oil, making it the world's primary energy source. This would result in high demand for analytical instrumentation for upstream and midstream activities.
  • New sources of gases including biogas, hydrogen, and synthetic methane are being introduced to domestic and commercial energy systems to decarbonize gas consumption. This will further increase the demand for analyzers to measure these gases and their relative carbon emissions.
  • A lower carbon shift is realized in the midstream and downstream sectors, which will result in a high demand for emission analyzers.
  • Oil and natural gas met 54% of the world’s energy demand in 2017. This ratio, however, will reduce to 46% in 2050, leading to a lower demand for analyzers.  China has registered the fastest growth in shale gas production, with the highest CAGR of 38.2% from 2015 to 2022. This will result in a high demand for gas chromatographs.
  • The price of oil and gas determines the growth of the market. Thanks to the financial crisis caused by COVID-19, the price of a barrel is now close to $20, but usually ranges between $50 and $70. This will result in a much lower market for analytical equipment.
  • The market for oil in particular has plunged as a result of the decrease in road transport and air travel. With the demand for green energy, the projection for oil demand in 2030 is already weak. With the pandemic, the demand could be much slower due to a combination of factors such as weak economic growth, changes in consumer behavior, and government policies. Oil and gas accounted for 54% of the world's energy demand in 2017. The demand for oil will peak around the mid-2020s, with a shift in the fuel source to gas thereafter.
  • Emissions monitoring and other applications ensuring safety will strongly drive the demand for analytical instruments.  The shift from laboratory to process analyzers will result in the deployment of analyzers in the process set-up to meet ASTM regulations.  Stringent regulations that restrict the fracking and drilling process associated with oil and gas production will refrain the growth of the analytical instrumentation market.

Table of Contents

Key Findings

Market Engineering Measurements

Market Engineering Measurements (continued)

CEO’s Perspective

Market Definitions

Market Definitions (continued)

Key Questions this Study will Answer

Market Segmentation

Market Drivers

Drivers Explained

Drivers Explained (continued)

Drivers Explained (continued)

Market Restraints

Restraints Explained

Restraints Explained (continued)

Market Engineering Measurements

Market Engineering Measurements (continued)

Forecast Assumptions

Revenue Forecast

Revenue Forecast Discussion

Pricing Trends Discussion

Percent Revenue Forecast by Region

Revenue Forecast by Region

Revenue Forecast Discussion by Region

Revenue Forecast by Vertical Market

Revenue Forecast Discussion by Vertical Market

Market Share

Market Share Analysis

Competitive Environment

Top Competitors

Product Analysis

Product Analysis (continued)

Product Analysis (continued)

Competitive Factors and Assessment

Growth Opportunity 1—Consumption of Gas to be Faster than that of Oil

Growth Opportunity 2—Emission Monitoring Application

Strategic Imperatives for Success and Growth

Gas Analyzer Segment—Key Findings

Market Engineering Measurements

Segment Revenue Forecast

Gas Analyzer Segment—Revenue Forecast by Analyzer Type

Gas Analyzer Segment—Percent Revenue Forecast by Region

Revenue Forecast by Region

Revenue Forecast Discussion

Liquid Analyzer Segment—Key Findings

Market Engineering Measurements

Segment Revenue Forecast

Liquid Analyzer Segment—Revenue Forecast by Analyzer Type

Liquid Analyzer Segment—Percent Revenue Forecast by Region

Revenue Forecast by Region

Revenue Forecast Discussion

Spectrometer Segment—Key Findings

Market Engineering Measurements

Segment Revenue Forecast

Spectrometers Segment—Revenue Forecast by Analyzer Type

Spectrometer Segment—Percent Revenue Forecast by Region

Revenue Forecast by Region

Revenue Forecast Discussion

Gas Chromatograph Segment—Key Findings

Market Engineering Measurements

Segment Revenue Forecast

Gas Chromatograph Segment—Percent Revenue Forecast by Region

Revenue Forecast by Region

Revenue Forecast Discussion

Upstream Segment—Key Findings

Market Engineering Measurements

Segment Revenue Forecast

Upstream Segment—Percent Revenue Forecast by Analyzer

Revenue Forecast by Analyzer

Revenue Forecast Discussion

Midstream Segment—Key Findings

Market Engineering Measurements

Segment Revenue Forecast

Midstream Segment—Percent Revenue Forecast by Analyzer

Revenue Forecast by Analyzer

Revenue Forecast Discussion

Downstream Segment—Key Findings

Market Engineering Measurements

Segment Revenue Forecast

Downstream Segment—Percent Revenue Forecast by Analyzer

Revenue Forecast by Analyzer

Revenue Forecast Discussion

The Last Word—3 Big Predictions

Legal Disclaimer

Market Engineering Methodology

Additional Sources of Information on Study Topic

List of Companies in “Others”

Partial List of Companies Interviewed

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

Environmental mandates on achieving a low carbon footprint are driving the analytical instrumentation market in the oil & gas industry. Applications in the refining segment, including monitoring of air/water quality and measuring greenhouse gas (GHG) emissions, to present increased growth opportunities. The market for analytical instrumentation in the oil & gas industry crashed due to the Coronavirus 2019 (COVID-19) induced slowdown that caused a decline in oil prices due to oversupply and less demand. The global demand for gas is expected to peak in 2026 and surpass that for oil, making it the world's primary energy source. This will result in a high demand for analytical instrumentation in upstream and midstream activities.--BEGIN PROMO--

Research Scope

Analytical instrumentation in the oil & gas industry consists of 3 main operational components – upstream, midstream, and downstream sectors.

The upstream sector involves the exploration for and extraction of petroleum crude oil and natural gas. It includes the searching for potential underground or underwater oil and gas fields, drilling of exploratory wells, and subsequently operating the wells that recover and bring the petroleum crude oil and/or raw natural gas to the surface.

The midstream involves storing, marketing and transporting petroleum crude oil, natural gas, and natural gas liquids (mainly ethane, propane and butane).

The downstream sector involves the refining of petroleum crude oil and the processing of raw natural gas. It includes the selling and distribution of processed natural gas.

Gas analyzers, liquid analyzers, infrared and UV-Vis spectrometer, gas chromatographs, and mass spectrometers are the main analytical technological segments included in this research.

Sub-product segments included in the research are:

  • Flame Ionization Detector
  • Thermal Conductivity Detector
  • Chemiluminescence Detector
  • Conductivity Analyzer
  • Total Organic Carbon (TOC)
  • pH/oxidation-Reduction potential (ORP)
  • Turbidity Meter
  • Colorimeter
  • Dissolved Oxygen
  • Chlorine Analyzer
  • Gas Chromatographs
  • Infrared Spectrometer
  • Ultraviolet-Visible Spectrometer
  • Mass Spectrometers
  • Tunable Diode Laser Spectroscopy Analyzer
  • Zirconia Analyzer
  • Non-dispersive infrared (NDIR) Analyzer
  • Paramagnetic Analyzer
  • Electrochemical Analyzer

Key Findings

  • Oil demand will peak around the mid-2020s, which will result in extreme upstream activities.
  • The global demand for gas is expected to peak in 2026 and surpass the demand for oil, making it the world's primary energy source. This would result in high demand for analytical instrumentation for upstream and midstream activities.
  • New sources of gases including biogas, hydrogen, and synthetic methane are being introduced to domestic and commercial energy systems to decarbonize gas consumption. This will further increase the demand for analyzers to measure these gases and their relative carbon emissions.
  • A lower carbon shift is realized in the midstream and downstream sectors, which will result in a high demand for emission analyzers.
  • Oil and natural gas met 54% of the world’s energy demand in 2017. This ratio, however, will reduce to 46% in 2050, leading to a lower demand for analyzers.  China has registered the fastest growth in shale gas production, with the highest CAGR of 38.2% from 2015 to 2022. This will result in a high demand for gas chromatographs.
  • The price of oil and gas determines the growth of the market. Thanks to the financial crisis caused by COVID-19, the price of a barrel is now close to $20, but usually ranges between $50 and $70. This will result in a much lower market for analytical equipment.
  • The market for oil in particular has plunged as a result of the decrease in road transport and air travel. With the demand for green energy, the projection for oil demand in 2030 is already weak. With the pandemic, the demand could be much slower due to a combination of factors such as weak economic growth, changes in consumer behavior, and government policies. Oil and gas accounted for 54% of the world's energy demand in 2017. The demand for oil will peak around the mid-2020s, with a shift in the fuel source to gas thereafter.
  • Emissions monitoring and other applications ensuring safety will strongly drive the demand for analytical instruments.  The shift from laboratory to process analyzers will result in the deployment of analyzers in the process set-up to meet ASTM regulations.  Stringent regulations that restrict the fracking and drilling process associated with oil and gas production will refrain the growth of the analytical instrumentation market.
More Information
No Index No
Podcast No
Author Janani Balasundar
Industries Test and Measurement Instrumentation
WIP Number K3F0-01-00-00-00
Is Prebook No
GPS Codes 9404-A5,9594,9ACC-A5