– March 21, 2022 —
As per the market research study by Market Research Future (MRFR), in the past years, the global Gas Detection Equipment Market was esteemed at an average level. The market is predicted to achieve a substantial value till the end of 2030, registering an exponential CAGR in the years. The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market operators, and disrupters, which is reflected in this analysis.
Top Impacting Factors
The global market of gas detection equipment is witnessing exceptional growth owing to mounting awareness towards worker safety in manufacturing units such as oil & gas, medical, mining, refining, and other industries are anticipated to boost the market growth. The gas detection equipment can identify the prevalence of harmful gases in the environment and raise the alarm to prevent accidents. This feature has surged the demand for the equipment, thus affected its market to a great extent. By this, the study depicts that the market could witness a high valuation in the forecast period.
The study further identifies that factors such as escalating investment in research and development activities by giant and top companies will lead to improved product efficiency, which could stoke the demand for newer equipment. Even various government bodies and industry associations have formulated regulations that need to adhere to maintain a safe work environment. These measures have also been causative to the growth of the market for the forecast period.
Moving forward, another factor, such as a growing preference for wireless detectors, is also considered as one of the key motivating factors of the portable gas detection equipment market. With this, wireless gas detectors are beneficial to measure gas concentrations in hard to reach the environment, accomplished of detecting toxic gases, and most notably are easily installed at relatively low prices. It can detect a host of gases such as carbon dioxide, oxygen, and sulfur dioxide. These factors make wireless gas detectors suitable for remote sensing of flammable and poisonous gases in hazardous environments. Thus, due to these factors, the global market of gas detection equipment is also on the verge of observing high-end valuation in the future time frame
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Top Market Contenders
The top market players in the global gas detection equipment market are listed as Industrial Scientific (US), RKI Instruments, Inc. (RKI) (US), MSA (US), Drägerwerk AG & Co. KGaA (Germany), Honeywell International (US), Siemens AG (Germany), Emerson Electric Co. (US), General Electric Company (US), and Sensor Electronics (US).
Market Segmentation
The MRFR report provides an inclusive segmental analysis of the gas detection equipment market report based on end use, technology, and products.
By product, the gas detection equipment market is segmented into portable gas system and fixed gas system. Of these, the fixed gas detection equipment market is predicted to lead the market over the forecast period followed by portable gas detection segment.
By technology, the global gas detection equipment market is segmented into multi-gas detection and single-gas detection. Of these, the single-gas detection segment will dominate the market over the forecast period.
By end use segment, the global gas detection equipment market is categorized into industrial, household, and commercial sectors. The industrial segment is again segmented into water treatment, mining, semiconductors, oil and gas, chemicals and specialty chemicals, and others. Among these, the oil and gas segment will have a major share in the market over the forecast period.
Regional Analysis
Based on the region, the global gas detection equipment market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, the APAC region will have the lions share in the market over the forecast period. A surge in Greenfield projects, adoption of international safety practices and standards, and increasing investments in various end use industries such as oil and gas, steel, power, petrochemical, chemical sectors are adding to the global gas detection equipment market growth in the region. India, Philippines, and China have the maximum share in the market as they are hopeful of doubling the gas consumption for reducing the import dependence that is adding market growth.
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The global gas detection equipment market in North America is predicted to have a healthy growth over the forecast period. Strict government regulations for safety in the workplace in several countries of the region, mounting demand for gas detection equipment in the oil & gas industry, improved infrastructural developments, technological advances in extraction, and increasing production of shale gas is adding to the global gas detection equipment market growth in this region. The United States possesses the maximum share in the market.
The global gas detection equipment market in Europe is predicted to have notable growth over the forecast period.
The gas detection equipment market in the MEA is predicted to have a moderate share over the forecast period in support of growing measures needed for a safer workplace.
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