Global Portable Gas Detection Equipment Market to Witness Lucrative Opportunities in Industrial Sector

Market Research Reports Search Engine has added a new report to its repository of studies on technology and media. The report presents insights into the trajectory of the global market for portable gas detection equipment. The analysis pegs the overall value of the global portable gas detection equipment market at US$1.1 bn in 2014. Exhibiting a positive CAGR of 4.80%, the market is projected to reach 1.7 bn by the end of 2023. The report is titled “Portable Gas Detection Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023”.

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The market for portable gas detection equipment primarily gains impetus from the increasing demand for portable and flexible equipment for gas leak detection, especially in areas with limited access. The application of portable gas detection equipment has considerably increased in industries such as oil and gas and mining. This provides the market with robust growth opportunities. On the flip side, the lack of awareness among industries about the availability of portable gas equipment hampers the market’s growth to an extent. The market also faces competition from fixed gas detection equipment, many of which are already installed in major industries.

The report presents a comprehensive overview of the market for portable gas detection equipment, covering the various factors that are likely to influence the market between 2015 and 2023. For the purpose of the study, the global portable gas detection equipment market is bifurcated into wearable and non-wearable detection equipment based on type. Of these, the market was led by the segment of non-wearable detection equipment in 2014. However, over the forecast period, the wearable gas detection equipment segment is likely to exhibit growth at a faster pace.

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On the basis of end use, the portable gas detection equipment market was dominated by the industrial sector in 2014 owing to the rising demand for portable gas detectors. In the near future, the market is also anticipated to witness lucrative opportunities in the mining and oil and portable gas sectors. Of these, the oil and portable gas segment is expected to emerge as the fastest growing end-use segment in the market during the forecast period.

Regionally, the global portable gas detection equipment market is covers Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa. The enterprises operating in the market have been presented with lucrative opportunities in the emerging economies of Asia Pacific and the Middle East and Africa.

To study the prevailing vendor landscape, the report also profiles companies such as Drägerwerk AG & Co. KGaA, Industrial Scientific Corporation, Trolex Ltd., Crowcon Detection Instruments, Ltd., Honeywell Analytics, Mine Safety Appliances, RAE Systems Inc., Detcon, Inc., and Thermo Fisher Scientific Inc. These companies are studied on the basis of their financial overview, development status, strategies adopted, and product portfolio.

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