|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|
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.