VOC Gas Monitor Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Covid-19 Scenario Analysis

• The demand for the VOC gas monitor is expected to decrease in the year 2020 due to lockdown imposed by the government and low demand from industries.
• COVID-19 pandemic has halted the production of various products in the VOC gas monitor industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of VOC gas monitor market significantly from last few months, as is likely to continue during 2020.
• COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020, and is likely to cause a negative impact on the market growth throughout the year. 
• The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
• Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top Impacting Factors: Market Scenario Analysis, Trends , Drivers, and Impact Analysis

Government stringent regulation on air pollution control from industries acts as the driver as all the industries need to set up the VOC gas monitor for detecting the leakage of gases that arises during production process. Increasing awareness about the indoor air quality like in industries and roadside air monitoring have increased the demand for VOC gas monitor. Increasing demand for the photo ionization detector (PID) devices for the detection of VOC gas majorly drives the market of VOC gas monitor. Increasing awareness for the health safety in the industries has increased the demand for VOC gas monitoring devices. These devices measure the level of HCHO and TVOC in the industries. The oil & gas and petrochemical industries are expanding their presence in Asia-Pacific countries like India and China where these VOC gas monitors can be largely used for immediately detecting the leakage of gases in these industries. Increasing technology and automation in the industries have act as drivers of the market. Europe garners the largest market share, followed by North America. However, high investment in industries can hamper the growth of VOC gas monitor market.

The global VOC gas monitor market trends are:

New Product Launches to Flourish the Market

All devices cannot measure accurately the presence of VOC gases in the atmosphere. For example, hazardous gases like Benzene and toluene are measured by different devices like PID devices. VOC gas sensors are used for indoor as well as outdoor application. Indoor application mostly include VOC released from paints, adhesives, and others and outdoor application includes VOC gases from industries like oil & gas, petroleum, and others. Both these application are monitored in different VOC gas measuring devices. For example, on June 21, 2018, Integrated device technology launched its ZMOD VOC gas monitor device that is used for measuring the volatile organic compound gas. It consists of air purifiers, HVAC device, and other such devices. It is mostly used in the measuring the air quality in the indoor applications.

High Demand from End Users

VOC gas monitor have major application like monitoring of hazardous gas leakage in the industries and monitoring the carbon compounds in the environment. VOC gas detector is  used mainly in oil & gas industries and for the purpose of health safety. An increasing demand for the natural gas and petroleum production has led to risks like releasing of toxic gases during the extraction and evaporative loss from storage of petrol. These gases can be monitored or detected by VOC gas monitor thus growing the market of these devices. Other application include air purification monitoring and environmental monitoring. VOC gas monitor are accurate in providing information about the air contamination or  presence of organic compounds in the environment.

Key Benefits of the Report

• This study presents the analytical depiction of the VOC gas monitor market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the VOC gas monitor market share.
• The current market is quantitatively analyzed to highlight the VOC gas monitor market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.