Global Gas Detection Equipment Market indicating Industry Size, Demand, Trends and Forecast till 2026

Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting market growth of foodservice packaging market. The study is titled as “Gas Detection Equipment Market Forecast, Trend Analysis & Competition Tracking – Global Review 2017 to 2026”, which deeply analyses the global market trends, with historical data from 2017 and 2018, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of 2017-2026. For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the global gas detection equipment market.

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A recently compiled Fact.MR research report projects a steady 5.0% CAGR, in terms of value, for the global gas detection equipment market during the period 2017 to 2026. Over 980 Mn units of gas detection equipment are pegged to be sold across the globe by 2026-end.

4 Key Takeaways from Fact.MR’s Report on Gas Detection Equipment Market for Forecast Period 2017-2026 (In Terms of Volume)

1. North America is likely to prevail as the most remunerative market for gas detection equipment, closely trailed by Europe. Gas detection equipment sales in these regions are collectively poised to account for roughly half share of the market by 2026-end.

2. Asia-Pacific excluding Japan (APEJ) is also expected to hold a major market share during the forecast period, with sales exhibiting the highest CAGR through 2026.

3. Forecast to account for more than half share of the market during 2017 to 2026, fixed gas detection equipment will spearhead the market, on the basis of type. However, portable gas detection equipment are likely to witness the fastest expansion in the market.

4. Oil & gas industry is anticipated to remain dominant end-user of gas detection equipment across the globe, with sales forecast to exceed 340 Mn units by 2026-end. The manufacturing industry, trailing oil & gas industry in terms of sales, will continue to exhibit a relatively faster expansion in the market.

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North America to Dominate Global Gas Detection Equipment Market

Demand for gas detection equipment in North American industries is gaining huge traction on the back of illness caused by harmful gases such as sulfur dioxide (SO2) and carbon monoxide (CO). Governments in the region have implemented mandatory regulations regarding adoption of gas detection equipment so as to ensure health and safety of workers and employees in various manufacturing industries. North America will continue to dominate the global gas detection equipment market, in terms of value and volume.

Robust investments in research and development activities, which have driven innovation, have considerably fuelled growth of the oil & gas and manufacturing industries. This has further created demand for protective equipment such as gas detection equipment in these industries for a wide range of applications. Oil & gas and manufacturing industries will prevail as the largest end-users of gas detection equipment, in terms of value.

Although fixed gas detection equipment on the basis of type will dominate the market in terms of value, sales of portable gas detection equipment are set to register a relatively higher CAGR through 2026.

Competition Tracking

Leading manufacturers in the global gas detection market are providing additional features including modified use of sensors and multi-gas detection. Local vendors are sustaining their position in the market with the provision of products integrated with basic features at relatively lower costs. In addition, manufacturers of gas detection equipment have are collaborating with insurance companies in order to attract a larger customer base. Key players significantly contributing and underpinning growth of the global gas detection equipment market include Conspec Controls Inc., Sensidyne, LP, Global Detection Systems Corp., Analytical Technology Inc., Gas Measurement Instruments Limited., Enmet LLC., ESP SAFETY INC., Gastech Australia Pty Ltd., Trolex Ltd., Thermo Fisher Scientific Inc., General Electric Company, United Technologies Corporation, Fortive Corporation, Dragerwerk AG & Co. KGaA, MSA Safety Incorporated, Halma plc., 3M Company, RKI Instruments, Inc., and Emerson Electric Co.

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This release was published on openPR.