TABLE OF CONTENT 1 EXECUTIVE SUMMARY 1.1 MARKET ATTRACTIVENESS ANALYSIS 12 1.1.1 GLOBAL GAS CALORIMETER MARKET, BY APPLICATION 13 1.1.2 GLOBAL GAS CALORIMETER MARKET, BY REGION 14 2 MARKET INTRODUCTION 2.1 DEFINITION 15 2.2 SCOPE OF THE STUDY 15 2.3 MARKET STRUCTURE 16 2.4 KEY BUYING CRITERIA 16 3 RESEARCH METHODOLOGY 3.1 RESEARCH PROCESS 17 3.2 PRIMARY RESEARCH 18 3.3 SECONDARY RESEARCH 19 3.4 MARKET SIZE ESTIMATION 19 3.5 TOP-DOWN AND BOTTOM-UP APPROACH 20 3.6 FORECAST MODEL 21 3.7 LIST OF ASSUMPTIONS 22 4 MARKET INSIGHTS 5 MARKET DYNAMICS 5.1 INTRODUCTION 27 5.2 DRIVERS 28 5.2.1 GROWTH OF THE OIL & GAS INDUSTRY 28 5.2.2 VERSATILITY OF GAS CALORIMETERS 29 5.3 RESTRAINTS 30 5.3.1 HIGH UNIT COST OF GAS CALORIMETER 30 5.4 OPPORTUNITY 31 5.4.1 ADVANCEMENTS AND UPGRADE OF GAS CALORIMETERS 31 6 MARKET FACTOR ANALYSIS 6.1 PORTER’S FIVE FORCES MODEL 32 6.1.1 THREAT OF NEW ENTRANTS 32 6.1.2 BARGAINING POWER OF SUPPLIERS 33 6.1.3 BARGAINING POWER OF BUYERS 33 6.1.4 THREAT OF SUBSTITUTES 33 6.1.5 RIVALRY 33 6.2 SUPPLY CHAIN ANALYSIS: GLOBAL GAS CALORIMETER MARKET 34 6.2.1 DESIGN & DEVELOPMENT 34 6.2.2 RAW MATERIAL/ COMPONENT SUPPLY 35 6.2.3 GAS CALORIMETER ASSEMBLY 35 6.2.4 SUPPLY AND DISTRIBUTION 35 6.2.5 END USE 35 6.3 POWER-TO-GAS (P2G) ANALYSIS 35 6.3.1 OVERVIEW 35 6.3.2 POWER-TO-GAS (P2G) EUROPE TRENDS 35 6.3.3 REGULATORY LANDSCAPE 39 7 GLOBAL GAS CALORIMETER MARKET, BY APPLICATION 7.1 INTRODUCTION 40 7.2 NATURAL GAS PIPELINE INDUSTRY 40 7.3 TOWN GAS INDUSTRY 40 7.4 GAS ENGINE INDUSTRY 40 7.5 PETROLEUM INDUSTRY 41 7.6 THERMAL POWER HOUSES 41 7.7 RESEARCH LABS/INSTITUTES 41 7.8 STEEL PLANTS 41 7.9 OTHERS (AEROSPACE, PROCESS, AND CEMENT INDUSTRY) 41 8 GLOBAL GAS CALORIMETER MARKET, BY REGION 8.1 OVERVIEW 43 8.2 ASIA-PACIFIC 44 8.2.1 CHINA 46 8.2.2 JAPAN 47 8.2.3 INDIA 48 8.2.4 REST OF ASIA-PACIFIC 49 8.3 NORTH AMERICA 50 8.3.1 US 52 8.3.2 CANADA 53 8.3.3 MEXICO 54 8.4 EUROPE 55 8.4.1 GERMANY 57 8.4.2 FRANCE 58 8.4.3 UK 59 8.4.4 ITALY 60 8.4.5 REST OF EUROPE 61 8.5 REST OF THE WORLD 62 8.5.1 MIDDLE EAST & AFRICA 64 8.5.2 SOUTH AMERICA 65 9 COMPETITIVE LANDSCAPE 9.1 INTRODUCTION 66 9.2 MANUFACTURER ANALYSIS: GLOBAL GAS CALORIMETER MARKET 66 9.3 GLOBAL GAS CALORIMETER MAJOR PLAYERS MARKET SHARE ANALYSIS 70 9.4 COMPETITIVE BENCHMARKING 70 9.5 KEY COMPANIES BY APPLICATION 71 10 COMPANY PROFILES 10.1 YOKOGAWA ELECTRIC CORPORATION 72 10.1.1 COMPANY OVERVIEW 72 10.1.2 FINANCIAL OVERVIEW 73 10.1.3 PRODUCTS OFFERED 73 10.1.4 KEY DEVELOPMENTS 74 10.1.5 SWOT ANALYSIS 74 10.1.6 KEY STRATEGIES 74 10.2 AZBIL CORPORATION 75 10.2.1 COMPANY OVERVIEW 75 10.2.2 FINANCIAL OVERVIEW 76 10.2.3 PRODUCTS OFFERED 76 10.2.4 KEY DEVELOPMENTS 77 10.2.5 SWOT ANALYSIS 77 10.2.6 KEY STRATEGIES 77 10.3 RIKEN KEIKI CO., LTD 78 10.3.1 COMPANY OVERVIEW 78 10.3.2 FINANCIAL OVERVIEW (2016–2019) 79 10.3.3 PRODUCTS OFFERED 80 10.3.4 KEY DEVELOPMENTS (2017–2019) 80 10.3.5 SWOT ANALYSIS 81 10.3.6 KEY STRATEGIES 81 10.4 ABB 82 10.4.1 COMPANY OVERVIEW 82 10.4.2 FINANCIAL OVERVIEW 83 10.4.3 PRODUCTS OFFERED 83 10.4.4 KEY DEVELOPMENTS (2017–2019) 84 10.4.5 SWOT ANALYSIS 84 10.4.6 KEY STRATEGIES 84 10.5 UNION INSTRUMENTS GMBH 85 10.5.1 COMPANY OVERVIEW 85 10.5.2 FINANCIAL OVERVIEW 85 10.5.3 PRODUCTS OFFERED 85 10.5.4 KEY DEVELOPMENTS (2017–2019) 85 10.6 COSA XENTAUR 86 10.6.1 COMPANY OVERVIEW 86 10.6.2 FINANCIAL OVERVIEW 86 10.6.3 PRODUCTS OFFERED 86 10.6.4 KEY DEVELOPMENTS (2017–2019) 86 10.7 SHIMADZU CORPORATION 87 10.7.1 COMPANY OVERVIEW 87 10.7.2 FINANCIAL OVERVIEW 88 10.7.3 PRODUCTS OFFERED 89 10.7.4 KEY DEVELOPMENTS (2017–2019) 89 10.8 HOBRÉ INSTRUMENTS B.V. 90 10.8.1 COMPANY OVERVIEW 90 10.8.2 FINANCIAL OVERVIEW 90 10.8.3 PRODUCTS OFFERED 90 10.8.4 KEY DEVELOPMENTS 90 10.9 HOVERLABS 91 10.9.1 COMPANY OVERVIEW 91 10.9.2 FINANCIAL OVERVIEW 91 10.9.3 PRODUCTS OFFERED 91 10.9.4 KEY DEVELOPMENTS (2017–2019) 91 11 APPENDIX 11.1 REFERENCES 92 11.2 RELATED REPORTS 92

LIST OF TABLES TABLE 1 LIST OF ASSUMPTIONS 22 TABLE 2 REGULATORY LANDSCAPE - POWER-TO-GAS (P2G) 39 TABLE 3 GLOBAL GAS CALORIMETER MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 42 TABLE 4 GLOBAL GAS CALORIMETER MARKET, BY REGION, 2017-2025 (USD MILLION) 43 TABLE 5 ASIA-PACIFIC: GAS CALORIMETER MARKET, BY COUNTRY, 2017-2025 (USD MILLION) 44 TABLE 6 ASIA-PACIFIC: GAS CALORIMETER MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 45 TABLE 7 CHINA: GAS CALORIMETER MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 46 TABLE 8 JAPAN: GAS CALORIMETER MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 47 TABLE 9 INDIA: GAS CALORIMETER MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 48 TABLE 10 REST OF ASIA-PACIFIC: GAS CALORIMETER MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 49 TABLE 11 NORTH AMERICA: GAS CALORIMETER MARKET, BY COUNTRY, 2017-2025 (USD MILLION) 50 TABLE 12 NORTH AMERICA: GAS CALORIMETER MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 51 TABLE 13 US: GAS CALORIMETER MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 52 TABLE 14 CANADA: GAS CALORIMETER MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 53 TABLE 15 MEXICO: GAS CALORIMETER MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 54 TABLE 16 EUROPE: GAS CALORIMETER MARKET, BY COUNTRY, 2017-2025 (USD MILLION) 55 TABLE 17 EUROPE: GAS CALORIMETER MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 56 TABLE 18 GERMANY: GAS CALORIMETER MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 57 TABLE 19 FRANCE: GAS CALORIMETER MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 58 TABLE 20 UK: GAS CALORIMETER MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 59 TABLE 21 ITALY: GAS CALORIMETER MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 60 TABLE 22 REST OF EUROPE: GAS CALORIMETER MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 61 TABLE 23 ROW: GAS CALORIMETER MARKET, BY REGION, 2017-2025 (USD MILLION) 62 TABLE 24 ROW: GAS CALORIMETER MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 63 TABLE 25 MIDDLE EAST & AFRICA: GAS CALORIMETER MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 64 TABLE 26 SOUTH AMERICA: GAS CALORIMETER MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 65 TABLE 27 MANUFACTURER ANALYSIS: GLOBAL GAS CALORIMETER MARKET 66 TABLE 28 BENCHMARKING OF MAJOR COMPETITORS 70 TABLE 29 KEY COMPANIES BY APPLICATION 71 TABLE 30 YOKOGAWA ELECTRIC CORPORATION: PRODUCTS OFFERED 73 TABLE 31 AZBIL CORPORATION: PRODUCTS OFFERED 76 TABLE 32 AZBIL CORPORATION: KEY DEVELOPMENTS 77 TABLE 33 RIKEN KEIKI CO., LTD: PRODUCTS OFFERED 80 TABLE 34 RIKEN KEIKI CO., LTD: KEY DEVELOPMENTS (2017–2019) 80 TABLE 35 ABB: PRODUCTS OFFERED 83 TABLE 36 UNION INSTRUMENTS GMBH: PRODUCTS OFFERED 85 TABLE 37 COSA XENTAUR: PRODUCTS OFFERED 86 TABLE 38 SHIMADZU CORPORATION: PRODUCTS OFFERED 89 TABLE 39 HOBRÉ INSTRUMENTS B.V.: PRODUCTS OFFERED 90 TABLE 40 HOBRÉ INSTRUMENTS B.V.: KEY DEVELOPMENTS 90 TABLE 41 HOVERLABS: PRODUCTS OFFERED 91LIST OF FIGURES FIGURE 1 MARKET SYNOPSIS 11 FIGURE 2 MARKET ATTRACTIVENESS ANALYSIS: GLOBAL GAS CALORIMETER MARKET 12 FIGURE 3 GLOBAL GAS CALORIMETER MARKET ANALYSIS, BY APPLICATION 13 FIGURE 4 GLOBAL GAS CALORIMETER MARKET ANALYSIS, BY REGION 14 FIGURE 5 GLOBAL GAS CALORIMETER MARKET: MARKET STRUCTURE 16 FIGURE 6 KEY BUYING CRITERIA OF THE GLOBAL GAS CALORIMETER MARKET 16 FIGURE 7 RESEARCH PROCESS OF MRFR 17 FIGURE 8 NORTH AMERICA MARKET SIZE & MARKET SHARE, BY COUNTRY (2018 VS 2025) 23 FIGURE 9 EUROPE MARKET SIZE & MARKET SHARE, BY COUNTRY (2018 VS 2025) 24 FIGURE 10 ASIA-PACIFIC MARKET SIZE & MARKET SHARE, BY COUNTRY (2018 VS 2025) 25 FIGURE 11 REST OF THE WORLD (ROW): MARKET SIZE & MARKET SHARE, BY COUNTRY (2018 VS 2025) 26 FIGURE 12 MARKET DYNAMICS: GLOBAL GAS CALORIMETER MARKET 27 FIGURE 13 GLOBAL PRIMARY ENERGY DEMAND BY FUEL TYPE, THOUSAND BARRELS OF OIL EQUIVALENT PER DAY, (2015-2040) 28 FIGURE 14 DRIVER IMPACT ANALYSIS 29 FIGURE 15 RESTRAINT IMPACT ANALYSIS 30 FIGURE 16 PORTER’S FIVE FORCES ANALYSIS: GLOBAL GAS CALORIMETER MARKET 32 FIGURE 17 SUPPLY CHAIN ANALYSIS: GLOBAL GAS CALORIMETER MARKET 34 FIGURE 18 HYDROGEN COSTS WITH VARYING ELECTRICITY PRICES AND ELECTROLYZER CAPEX (LOAD FACTOR=48%) 36 FIGURE 19 COSTS OF PRODUCING HYDROGEN FROM RENEWABLES AND FOSSIL FUELS IN 2018 37 FIGURE 20 PERCENTAGE OF ENERGY CONSUMPTION FROM RENEWABLES IN EU-28 38 FIGURE 21 GLOBAL GAS CALORIMETER MARKET, BY APPLICATION, 2018 (% SHARE) 42 FIGURE 22 GLOBAL GAS CALORIMETER MARKET, BY REGION, 2018 (% SHARE) 43 FIGURE 23 ASIA-PACIFIC: GAS CALORIMETER MARKET SHARE, BY COUNTRY, 2018 (% SHARE) 44 FIGURE 24 NORTH AMERICA: GAS CALORIMETER MARKET SHARE, BY COUNTRY, 2018 (% SHARE) 50 FIGURE 25 EUROPE: GAS CALORIMETER MARKET SHARE, BY COUNTRY, 2018 (% SHARE) 55 FIGURE 26 ROW: GAS CALORIMETER MARKET SHARE, BY COUNTRY, 2018 (% SHARE) 62 FIGURE 27 GLOBAL GAS CALORIMETER MAJOR PLAYERS MARKET SHARE ANALYSIS, 2018 (%) 70 FIGURE 28 YOKOGAWA ELECTRIC CORPORATION: FINANCIAL OVERVIEW SNAPSHOT 73 FIGURE 29 YOKOGAWA ELECTRIC CORPORATION: SWOT ANALYSIS 74 FIGURE 30 AZBIL CORPORATION: FINANCIAL OVERVIEW SNAPSHOT 76 FIGURE 31 AZBIL CORPORATION: SWOT ANALYSIS 77 FIGURE 32 RIKEN KEIKI CO., LTD: FINANCIAL OVERVIEW SNAPSHOT (2016–2019) 79 FIGURE 33 RIKEN KEIKI CO., LTD: SWOT ANALYSIS 81 FIGURE 34 ABB: FINANCIAL OVERVIEW SNAPSHOT (2016–2018) 83 FIGURE 35 ABB: SWOT ANALYSIS 84 FIGURE 36 SHIMADZU CORPORATION: FINANCIAL OVERVIEW SNAPSHOT (2016–2018) 88

Yokogawa Electric Corporation (Japan), UNION Instruments GmbH (Germany), COSA XENTAUR (US), Shimadzu Corporation (Japan), Azbil Corporation (Japan), RIKEN KEIKI Co., Ltd. (Japan), ABB (Switzerland), Hobré Instruments B.V. (Netherlands), and HOVERLABS (India)