Albany, NY -- (SBWIRE) -- 05/04/2018 -- The demand for portable gas detection equipment has increased substantially in recent years. There are myriad reasons for this increase. One of the prime factors of the portable gas detection equipment market is increasing preference for wireless detectors. Market Research Hub (MRH) has freshly announced the inclusion of a study titled "Portable Gas Detection Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2023" to its vast repository which offers major insights, analysis, and valuable guidance on the prospects of global market in the coming years. According to the research prime findings, the global market for portable gas detection equipment market is likely to progress at 4.8% CAGR for the forecast period between 2017 and 2023.

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This precise study begins with a brief overview of the portable gas detection equipment and data analysis of the global market with respect to the segments based on product type, end-user along with thorough cross-sectional analysis across key regional markets of portable gas detection equipment. Regions highlighted in the study are Europe, the Asia Pacific, North America, Latin America, Japan and the Middle East and Africa. This subsequent section also showcases the market dynamics such as the drivers, restraints, and opportunities that influence the current nature and future status of this market.

Key highlights from the Study

- Analysts of the report also evaluated that the market's valuation of US$1,306.6 mn in 2017 will become worth US$1,737.3 mn by the end of 2023. There are a number of favorable factors contributing toward this market growth, such as increasing concerns towards occupational health and safety regulations, and increased demand for wireless gas detectors. Furthermore, rising popularity of natural gas detectors in commercial and residential settings is stoking demand for portable gas detection equipment. The rising number of natural gas filling stations is stoking demand for gas detectors to prevent gas leakage that can lead to serious accidents.

- Region-wise, North America, Europe, and Japan hold prominence in the portable gas detection equipment market due to an established industrial sector. The researchers also find that the Middle East and Africa is anticipated to emerge as an attractive market for portable gas detection equipment. This is due to increasing measures to improve workplace safety in the booming oil and gas industry in the region.

- The segmental analysis of the report analyzes that in terms of end-use, mining, oil & portable gas, building automation, industrial, and others are the segments into which this market is divided. Out of these, oil & portable gas is anticipated to display the leading growth rate through 2023. In terms of product type, wearable and non-wearable are the prime segments highlighted in the study.

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At last, the concluding section of the report deals with the company market share analysis of key players operating in this industry. Key players include Honeywell analytics, Detcon Inc., Thermo Fisher Scientific Inc., Mine Safety Appliances, RAE Systems Inc., Trolex Ltd., Industrial Scientific Corporation, Crowcon Detection Instruments Ltd., and Drägerwerk AG & Co. KGaA.

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