The Global Market for Gas Detection Equipment is Projected to Reach $2.9 Billion by 2022

Stringent Regulations and Increasing Focus on Personnel & Plant Safety Drive Demand for Gas Detection Equipment, According to New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Gas Detection Equipment market. The global market for Gas Detection Equipment is projected to reach $2.9 billion by 2022, driven by the increasing focus on personnel & plant safety, stringent regulations, growing hazards of confined spaces & high-risk operational environments, and newer application areas.

Exposure to hazardous and combustible gases in various industrial settings is a major threat to workers and nearby communities, which may put numerous lives in danger. Fatal incidents along with several casualties in plants across the world result from failure of gas detection systems. Mine explosions also result in major catastrophic accidents that underscore the pressing need for industrial safety and propel demand for reliable safety systems such as combustible and toxic gas detectors to avert potential accidents. Companies operating in the gas production, mining, oil & gas, and process industries cannot compromise on worker safety despite tough economic scenario, hence the gas detector market continues to remain resilient to economic conditions. The adoption of these systems is also fueled by implementation of stringent regulations. Compliance with safety legislations is anticipated to remain one of the primary factors behind the increasing deployment of toxic gas detectors and safety systems in the mining, oil & gas, petrochemical and refining industries, among others.

Healthy growth is projected for the gas detectors market in the coming years driven by increasing upstream investments in the oil & gas sector that are projected to increase from US$700 billion to US$850 billion over the 2013-2030 period. The market is also driven by continuous growth of the oil & gas industry as well as expanding gas supply network and various gas field explorations. The ability of next-generation IT solutions to lower maintenance time as well as prevent device failure is anticipated to push up market adoption. Rising popularity of wireless gas detectors supported by their sophisticated technology, improved efficiency, enhanced reliability and greater ease in usage; and growing significance of multi-gas detectors owing to their compact footprints and enhanced features is also expected to benefit market expansion. Ongoing infrastructure development in developing economies and advancements in sensor technology along with introduction of sophisticated detectors, penetration of the Internet, advances in the field of nanotechnology and availability of novel raw materials represent other important factors poised to benefit market prospects in the long term.

As stated by the new market research report on Gas Detection Equipment, the United States represents the largest market worldwide driven by stringent safety and environmental regulations. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 7.2% over the analysis period. Strong growth in the region is expected to be driven by the presence of huge unconventional gas reserves across the region that are likely to drive significant investments in oil & gas upstream projects, and steady growth of the industrial, medicine, construction and mining sector. Handheld/portable gas detection equipment represents the fastest growing product segment driven by their myriad benefits in terms of compact size, simple usage pattern, ability to provide uninterrupted monitoring services, greater reliability, sensor longevity, and lesser false alarms.

Key players covered in the report include AirTest Technologies, Inc., Bacharach, Inc., California Analytical Instruments, Inc., City Technology Ltd., Crowcon Detection Instruments, Ltd., Detector Electronics Corp., Drägerwerk AG & Co. KGaA, Emerson Electric Co., ENMET Corp., ESP Safety, Inc., GE Measurement & Control Solutions, Honeywell International, Inc., Honeywell Analytics, RAE Systems, Inc., Industrial Scientific Corp., Mil-Ram Technology, Inc., Mine Safety Appliances Company, RKI Instruments, Inc., Schauenburg International GmbH, Sensidyne, LP, Sensor Electronics, Siemens AG, Sierra Monitor Corp., Status Scientific Controls Ltd., TQ Environmental Plc, Trolex Ltd., Tyco, Oldham SAS, Scott Safety, and Yokogawa Electric Corp., among others.

The research report titled “Gas Detection Equipment: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, product innovations & launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, and Rest of Latin America). Product segments analyzed in the report include Fixed Gas Detection Equipment, Handheld/Portable Gas Detection Equipment, and Gas Detector Tubes). Major end-use sectors analyzed in the report include Oil & Gas, Power, Chemical, Mining & Metals, Water & Wastewater Treatment, and Others.

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