(EnergyIndustry.Net, June 26, 2020 ) Market Overview • The Global Gasdetectionequipment Market is expected to grow at a CAGR of 5% during the forecasting period (2020-2027). Gas detector equipment is used frequently as a part of the safety system for detecting the existence and leak of several gases in an area. Gas detector equipment is interconnected to a control system to ring an alarm to workers in case of gas leaks, for evacuating the area and automatically shutting down the working process. • The increasing demand for gas monitoring amenities to detect the presence of hazardous gases is also expected to witness constant gas detector equipment market growth, particularly in the industrial segment, within the forecast time period. Moreover, owing to the rising construction all around the world is anticipated to drive the market in the forecast period. The report covers all the major trends and drivers playing a vital role in the growth of the global Gas Detection Equipment market. The market has been segmented by product, by technology type, by end-use, and by Region.
Market Dynamics • Global Gas Detection Equipment market is primarily driven increasing demand for plant safety coupled with personnel safety worldwide has led to the increase in demand for gas detector equipment. Compliance with the tough safety rules and environmental regulations is expected to be key driving factor over the forecast period for gas detector equipment market growth. In the U.S., the leading resource for fire safety standards is the NFPA (National Fire Protection Association), including NFPA 72: National Fire Alarm and Signaling Code and NFPA 70: National Electrical Code® (NEC®). While some codes apply to residential and commercial settings (where smoke and heat detection are commonly adequate), hazardous-area fire and gas detection equipment must be certified for use in that hazardous location. • Moreover, rapid industrialization and urbanization in developing countries coupled with rising construction activities is expected to drive the market. For instance, The Brazilian government announced at the end of 2017 an investment of approximately US$36 billion to resume 7,000 construction projects. The scheme, known as Agora é Avançar, aims to resume and complete previously stalled works by the end of 2018.
Market Segmentation Analysis • By product, the global Gas Detection Equipment market is segmented into Portable Gas System and Fixed Gas System. In 2018, Fixed gas system segment accounted for the majority share in the global market. Various sensors are used in gas detectors such as ultrasonic sensors, infrared sensors, semiconductor sensors and electrochemical gas sensors. Applications can be found in refineries, industrial plants, automobiles, wastewater treatment facilities and household activities. • By end-use, the global Gas Detection Equipment market is segmented into Oil and Gas, Chemicals and Petrochemicals, Healthcare, and Others. In 2018, Oil & Gas segment dominated the market and is expected to continue to dominate over the forecast period. The processes involved in oil and gas application produce non-toxic gases, which, when accumulated in high concentration, deplete the oxygen causing a hazardous condition to personnel who occupy the area and do not have access to protection.
Market Geographical Analysis • By geography, the global Gas Detection Equipment Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA). • In 2018, North America accounted for the majority share in the global Gas Detection Equipment Market owing to the supporting government initiatives for the promotion of shale gas industry in North America, the region will continue to contribute the highest growth in the market over the forecast period. • Moreover, increase in demand for petroleum and gas across the globe and rapid surge in installations of offshore oil production sites associated with extensive usage of offshore cranes in day to day activates of oil & gas extractions are driving the oil & gas segment in global market during the forecast period. • According to the data published in organization of the petroleum exporting countries in 2017, the total world proven natural gas reserve increased from 199.742 billion cubic meters in 2015 to 200.539 billion cubic meters in 2016, giving rise equal market growth for global market.
Market Competitive Analysis • Global Gas Detection Equipment Market is a concentrated market with the major share held by key players in the market. The market is quite competitive and to gain competitive advantage, the major Gas Detection Equipment manufacturers adopt several strategies such as M&A, joint ventures, contracts, and agreements to help them sustain the market’s competitive environment. • The major players include Emerson Electric, Honeywell, MSA, Robert Bosch, UNITED TECHNOLOGIES, Siemens, Thermo Fisher Scientific, RAE Systems, Sensor Electronics, ESP Safety, Airtest Technologies, Teledyne Technologies Incorporated, Trolex, and among others.
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