The global vapor pressure analyzer market is expected to value USD 59.82 Bn in 2021 and reach USD 61.7 Bn in 2022. The industry is projected to secure USD 82.67 in 2032 while expanding at a CAGR of 3% during the forecast period from 2022 to 2032. Growing demand for vapor pressure analyzers in the oil and gas industry is expected to play a significant role in strengthening the market.
| Report Attribute | Details |
| Estimated Base Year Value (2021) | US$ 59.82 Mn |
| Expected Market Value (2022) | US$ 61.7 Mn |
| Anticipated Forecast Value (2032) | US$ 82.67 Mn |
| Projected Growth Rate (2022-2032) | 3% CAGR |
Increasing high level of inspection and quality standards in the food and beverage sector is expected to boost the industry during the forecast period. Other major consumers of the VPA are the oil and gas industry and petrochemical industry which generate significant demand for VPA and benefit the market considerably. Increasing demand for high requirements of petroleum products and rising demand for portable VPAs are likely to accentuate the market growth in the coming time.
Based on product type, the benchtop vapor pressure analyzer segment is projected to dominate the market in 2021. On the other hand, the portable vapor pressure analyzer segment is expected to record the fastest growth during the forecast period. Expansion of the latter segment can be attributed to the growing adoption of portable VPAs for applications such as; field use, mobile laboratories, refineries, and oil and pipeline companies.
Based on application, liquefied petroleum gas segment is expected to dominate the market in 2021 and is projected to record fast growth. VPAs can identify the impact of additives and determine the nature of a liquid under a particular environmental condition and offers a performance indicator of the product. This makes it the best choice for LPG VPA applications, consequently, benefitting the market in the forecast period.
Growing environmental concerns have posed an immediate need for the adoption of clean energy, which has propelled the demand for LPG significantly. Besides, increasing autogas or automotive LPG traction across the globe is another salient factor driving the demand for vapor pressure analyzers. Moreover, increasing initiatives by the government to promote the usage of LPG is likely to fuel demand for vapor pressure analyzer in the forecast period.
The Indian government introduced PAHAL scheme that would deliver subsidies for LPG directly into the bank account of consumers. The initiative is anticipated to have brought a positive impact on the market during the forecast period. Another popular scheme, Pradhan Mantri Ujjawala Yojana launched by India to provide a clean cooking fuel is predicted to spike the demand for VPAs and benefit the market significantly in the forecast period.
The global vapor pressure analyzer market is anticipated to be hindered by the high installation cost of refineries. Moreover, the rapid development of renewable energy is expected to restrain the industry in the coming time.
Moreover, owing to the continuous legacy systems, there has been a continuous fall in the operational efficiency in the oil and gas industry. This is projected to hamper the market expansion in the forecast period.
According to the analysis, the market in India is expected to record a CAGR of 1.4% during the forecast period. Increased awareness about clean energy has augmented the demand for LPG across the country, thereby, benefitting the market notably. India has become the 2nd largest LPG importer. LPG imports in India have made an astounding record in the last decade. Expansion of the market in India can be attributed to the increasing urbanization and growing penetration of LPG in rural areas. Moreover, increased efforts by the GoI have made considerable participation in bolstering the Vapor Pressure Analyzer Market in India.
Schemes like PAHAL, Ujjawala, ‘Give it Up’, Direct Transfer Benefit grew the adoption of LPG in the residential segment, which is anticipated to bring considerable dividends to the market.
The analysis reveals that the market in North America is anticipated to garner significant market value while recording a CAGR of 2% during the forecast period. The maximum contribution is projected to be made by the U.S during the forecast period.
Increasing consumption of ethylene in anti-freezing/cooling applications in the automotive sector is expected to boost the demand for VPA in the region. In addition, growing demand for ethylene from the packaged food industry is projected to drive the demand for VPA and benefit the market in the forecast period.
Key players of the global vapor pressure analyzer market include Petrolab Company, GRABNER INSTRUMENTS, Interline, Surface Measurement Systems Ltd., Petrolab Company, BATTEC Group, Icon Scientific Limited, Analytical Technology & Control Limited, DKK-TOA Corporation, Koehler Instrument Company, Beckman Coulter, ABB, Koehler Instrument Company, among others.
| Report Attribute | Details |
| Growth Rate | CAGR of 3% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
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| Customization | Available Upon Request |
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FMI projects the global market to expand at a 3% value CAGR by 2032
Asia Pacific is expected to be the most opportunistic market, with India recording a CAGR of 1.4% during the forecast period.
Beckman Coulter, ABB, Koehler Instrument Company, Interline, Surface Measurement Systems Ltd., among others are some of the eminent names in the market.
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Global Vapor Pressure Analyzer Market
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