Global Gas Detection Equipment Market: Snapshot
Increasing awareness towards the worker safety in manufacturing units including medical, oil & gas, mining, refining and other industries is expected to boost the market growth. The product has the ability to identify the presence of harmful gases in the environment and raise an alarm to prevent accidents. Increasing investment in research and development activities by key companies will lead to an increased product efficiency is stoking demand for newer equipment. Different government bodies and industry associations have formulated regulations that need to adhere to maintain a safe work environment.
Global market for gas detection equipment market is expected to increase with a CAGR of 4.9% between 2019 and 2027. The global gas detection market is fragmented in nature with the presence of many small and medium manufacturers. This is leading to reduced profits of established players thereby resulting in decline in investments. The growth of gas detection equipment market is thus impacted.
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Single Gas Detection Technology Accounted For a Major Market Share
Global gas detection equipment market has been segmented on the bases of product type, technology, type of gas, end-use, sensor technology, and geography. Product type segment has been bifurcated into portable gas detector and fixed gas detector. Fixed gas detector segment accounted for the largest market share in 2018. However, portable gas detector segment is expected to grow with a higher pace in coming years.
The end-use segment is categorized into oil and gas, mining, industrial, building automation, and others are the segments into which the gas detection equipment market is classified. Out of these, industrial is the leading end-use segment of the gas detection equipment market. The sensor technology is segmented into electrochemical, metal oxide, infrared, catalytic, zirconia, and others. Of them, electrochemical is the leading segment in the overall market; the electrochemical segment is anticipated to hold on to its lead position in 2018.
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Asia Pacific Expected To Grow With A Higher Growth Rate
Major players operating in the global gas detection equipment market are
- Drägerwerk AG & Co.
- ESP Safety Inc.
- Troloex Ltd.
- Industrial Scientific Corp.
- MSA Safety Inc.
- RAE Systems Inc.
- GE Measurement & Control Solution
- Schauenburg Group
- Honeywell International Inc.
- Siemens AG
- Riken Keiki Co. Ltd.
- SE Electronics.
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In terms of geography, global gas detection equipment market is divided into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. North America, among them, holds supremacy in the gas detection equipment market. Stringent government regulations for workplace safety in several countries of the region is the primary factor behind the lead position of North America. However, over the forecast period between 2019 and 2027, Asia Pacific is anticipated to display the leading CAGR in the gas detection equipment market.