ID: MRFR/IA - E/6251-HCR | February 2021 | Region: Global | 100 pages
Gas Detection Equipment Market is estimated to register an 5% CAGR throughout the forecast period.
These equipment have various applications in several industries including water treatment, emergency services, chemicals & specialty chemicals, food & beverages, mining, power, and building automation & construction. These industries are rapidly adopting gas detection equipment, since several governments around the world have set stringent regulations related to environment safety and security. Additionally, gas detection equipment offers various advantages such as maintaining air quality and identifying hazardous gases, especially in commercial buildings to avoid critical incidents or situations. These are some of the key factors increasing the adoption of gas detection equipment.
The production and manufacturing costs of these gas detection equipment are low, which enables the entry of new players in the market who are offering these equipment’s at comparatively low prices. This factor is expected to challenge the profit margins of established players, resulting in the decline in investment in the market, over the forecast period.
The prominent players in the global gas detection equipment market are RKI Instruments, Inc. (RKI) (US), Industrial Scientific (US), Drägerwerk AG & Co. KGaA (Germany), MSA (US), Siemens AG (Germany), Honeywell International (US), General Electric Company (US), Emerson Electric Co. (US), Thermo Fisher Scientific Inc. (US), and Sensor Electronics (US).
The global gas detection equipment market is segmented based on product, technology, end-use, and region. On the basis of product, the global market has been divided into fixed gas system and portable gas system. On the basis of technology, the global market has been divided into single-gas detection and multi-gas detection. On the basis of end-use, the global market has been segmented into household, commercial, and industrial sectors. The industrial sector can be segregated into oil & gas, chemicals & specialty chemicals, mining, water treatment, semiconductors, and others.
Geographically, the global gas detection equipment market has been segmented into four major regions- North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is estimated to hold the largest market share during the forecast period, owing to the escalating number of greenfield projects in the region. The countries in the region such as India, China, and the Philippines, are aspiring to double the consumption of gases to reduce their import dependence, which is one of the key factors boosting the growth of the region in the gas detection equipment market.
Gas detection equipment are some of the key components that help reduce the risks related to hazardous gases in the household, commercial, and industrial sectors. The gas detection equipment can be used as a part of a total, integrated monitoring and safety system, which includes various safety aspects including fire detection and emergency process shutdown. Additionally, the gas equipment helps in providing more time to take remedial or proactive actions against gas leakage. Gas equipment are used to cater variety of applications across car parks, laboratories, boiler plant rooms, refrigeration plants, refineries, automotive industry, plant constructions, and power plants.
The report for global gas detection equipment market of market research future research covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
|Market Size||2027: 6 billion Value|
|CAGR||5% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Technology and End-Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||RKI Instruments, Inc. (RKI) (US), Industrial Scientific (US), Drägerwerk AG & Co. KGaA (Germany), MSA (US), Siemens AG (Germany), Honeywell International (US), General Electric Company (US), Emerson Electric Co. (US), Thermo Fisher Scientific Inc. (US), and Sensor Electronics (US)|
|Key Market Opportunities||New product launches and R&D amongst major key players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global gas detection equipment market is expected to record a substantial market valuation.
The global gas detection equipment market is projected to register a moderate CAGR in the forecast period.
The portable gas system segment is slated to expand as the fastest-growing segment.
The signal-gas detection segment is slated to expand as the fastest-growing segment.
A few major market players operating in the global gas detection equipment market are Drägerwerk AG & Co. KGaA (Germany), Industrial Scientific (US), MSA (US), among others.