Rockville, MD -- (SBWire) -- 07/05/2018 --With the rise in emphasis on ensuring workers' safety across various end-use industries worldwide has provided an impetus to adoption of several protective systems such as gas detection equipment. Several industrial standards, along with governmental norms and regulations implemented to ensure safety and health of laborers in manufacturing industries has necessitated requirement for gas detection equipment.
A recently compiled Fact.MR research report projects a steady 5.0% CAGR, in terms of value, for the global gas detection equipment market during the period 2017 to 2026. Over 980 Mn units of gas detection equipment are pegged to be sold across the globe by 2026-end.
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Manufacturers around the world are developing smart gas detection equipment by directing their focus toward implementation of innovative wireless technology, and robust integration of artificial intelligence (AI) and big data. Rapid adoption of smart gas detection equipment, which enable remote notifications, are likely to be a major factor contributing to expansion of the global gas detection equipment market in the near future. As smart gas detection equipment utilize wireless technology such as ZigBee, Wi-Max, Wi-Fi, and Bluetooth, end-users are enabled to track function of the product even from remote locations at all times. Additionally, companies producing gas detection equipment have introduced innovative concepts by focusing on the enhancement of the sensitivity & efficiency of sensors in detection of harmful gases.
Key Insights from Fact.MR's Report on Gas Detection Equipment Market for Forecast Period 2017-2026 (In Terms of Volume)
- North America is likely to prevail as the most remunerative market for gas detection equipment, closely trailed by Europe. Gas detection equipment sales in these regions are collectively poised to account for roughly half share of the market by 2026-end.
- Asia-Pacific excluding Japan (APEJ) is also expected to hold a major market share during the forecast period, with sales exhibiting the highest CAGR through 2026.
- Forecast to account for more than half share of the market during 2017 to 2026, fixed gas detection equipment will spearhead the market, on the basis of type. However, portable gas detection equipment are likely to witness the fastest expansion in the market.
- Oil & gas industry is anticipated to remain dominant end-user of gas detection equipment across the globe, with sales forecast to exceed 340 Mn units by 2026-end. The manufacturing industry, trailing oil & gas industry in terms of sales, will continue to exhibit a relatively faster expansion in the market.
Competition Tracking
Leading manufacturers in the global gas detection market are providing additional features including modified use of sensors and multi-gas detection. Local vendors are sustaining their position in the market with the provision of products integrated with basic features at relatively lower costs. In addition, manufacturers of gas detection equipment have are collaborating with insurance companies in order to attract a larger customer base. Key players significantly contributing and underpinning growth of the global gas detection equipment market include Conspec Controls Inc., Sensidyne, LP, Global Detection Systems Corp., Analytical Technology Inc., Gas Measurement Instruments Limited., Enmet LLC., ESP SAFETY INC., Gastech Australia Pty Ltd., Trolex Ltd., Thermo Fisher Scientific Inc., General Electric Company, United Technologies Corporation, Fortive Corporation, Dragerwerk AG & Co. KGaA, MSA Safety Incorporated, Halma plc., 3M Company, RKI Instruments, Inc., and Emerson Electric Co.
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Table of Contents
1. Global Economic Outlook
2. Global Gas Detection Equipment Market - Executive Summary
3. Global Gas Detection Equipment Market Overview
3.1. Introduction
3.1.1. Global Gas Detection Equipment Market Taxonomy
3.1.2. Global Gas Detection Equipment Market Definition
3.2. Global Gas Detection Equipment Market Size (US$ Mn) and Forecast, 2012-2026
3.2.1. Global Gas Detection Equipment Market Y-o-Y Growth
3.3. Global Gas Detection Equipment Market Dynamics
3.4. Supply Chain
3.5. Cost Structure
3.6. Pricing Analysis
3.7. List Of Distributors
3.8. Investment Feasibility Matrix
3.9. Market Competition structure
3.10. Competition Structure Dashboard
3.11. Life Cycle Assessment
3.12. Global Gas Detection Equipment Market – Scenario Forecast, 2017–2026
3.13. PEST Analysis
3.14. Key Participants Market Presence (Intensity Map) By Region
4. Global Gas Detection Equipment Market Analysis and Forecast 2012-2026
4.1. Global Gas Detection Equipment Market Size and Forecast By Type, 2012-2026
4.1.1. Fixed Market Size and Forecast, 2012-2026
4.1.1.1. Revenue (US$ Mn) & Volume('000) Comparison, By Region
4.1.1.2. Market Share Comparison, By Region
4.1.1.3. Y-o-Y growth Comparison, By Region
4.1.2. Portable Market Size and Forecast, 2012-2026
4.1.2.1. Revenue (US$ Mn) Comparison, By Region
4.1.2.2. Market Share Comparison, By Region
4.1.2.3. Y-o-Y growth Comparison, By Region
4.2. Global Gas Detection Equipment Market Size and Forecast By End User, 2012-2026
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Gas Detection Equipment Market Size, Share, Trends, Revenue, Competition Assessment Till 2026
Demand for gas detection equipment in North American industries is gaining huge traction on the back of illness caused by harmful gases such as sulfur dioxide (SO2) and carbon monoxide (CO).