The latest report by IMARC Group, titled “Gas Detection Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global gas detection equipment market is expected to exhibit a CAGR of 9.67% during the forecast period (2022-2027). Gas detection equipment is designed to sense the presence of gas in the air and respond to the operator to ensure plant safety. It consists of sensors and various other components to trigger alarms, detect gas concentrations, activate countermeasures, and prevent hazardous situations for assets, employees, and the environment. It is also utilized in the mining and oil and gas industries, where the risk of gas leakage is usually high. Owing to these properties, gas detection equipment finds extensive applications in commercial buildings, schools, and colleges across the globe.
Global Gas Detection Equipment Market Trends:
The market is primarily driven by the implementation of stringent government regulations to ensure the safety of the environment and workers. In addition, the increasing utilization of cloud computing and industrial internet of things (I-IoT) technology in the construction industry represents another major growth-inducing factor. Besides this, the surging energy need and growing installations of offshore oil production sites are escalating the demand for gas detection equipment to safely perform oil and gas extractions. This, coupled with the introduction of advanced product variants with multi-gas detection features, is positively influencing the market growth. Moreover, various advancements in nanotechnology and increasing collaborations of key players with insurance companies to gain a competitive edge and attract a large consumer base are also creating a favorable market outlook across the globe.
- Based on technology, the market has been categorized into wired and wireless.
- On the basis of the detection type, the market has been bifurcated into fixed, and portable and transportable.
- Based on the end use industry, the market has been segmented into oil and gas, chemicals and petrochemicals, water and wastewater, metal and mining, utilities, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being Airtest Technologies Inc, Bacharach Inc, Drägerwerk AG & Co. KGaA, Hanwei Electronics Group Corporation, Honeywell International Inc, Industrial Scientific Corporation (Fortive), MSA Safety Incorporated, Sensidyne LP, Teledyne Technologies Incorporated, Thermo Fisher Scientific Inc. and Trolex Ltd.
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