Gas Leak Detector Market Competitive Analysis with Leading Market Players - City Technology Ltd., Honeywell International Inc., Mine Safety Appliances Co., Dragerwerk AG & Corporation., Testo AG, ABB Ltd, Industrial Scientific Corporation, Figaro Engineer

A gas leak detector is a device that is used for detecting the presence of gasses in the surrounding, which further acts as a safety system. This system is equipped with an alarm to alert the operators in the area where the leakage is occurring, which in turn helps the operators to alert all the workers to leave that area immediately. This type of device is important, as there are many gases that can be harmful to organic life.

Download PDF Brochure : https://www.coherentmarketinsights.com/insight/request-pdf/2096

Market Drivers:

Stringent government rules and regulations towards increasing safety in the oil and gas industries is one of the major factors driving growth of the global gas leak detectors market. For instance, Pipeline Safety Improvement Act of 2002 was passed with the aim to improve the integrity and safety of pipelines in the natural gas transmission industry. The act mandates significant changes and new requirements in the procedures used by the natural gas industries, thereby ensuring safety and integrity of its pipelines.

The factor hindering growth of the market is high cost of gas leak detector and lack of awareness among small and medium enterprises, negatively affecting demand for the gas leak detector in such enterprises. For instance, according to the Coherent Market Insights, the price of SENSIT HXG-2d combustible gas leak detector was US$ 419 per piece and SENSIT GoldG2 EX/TOX 2-Gas Combustible gas leak detector was US$ 1,372 per piece.

North America is expected to exhibit largest market share in the global gas leak detector market over the forecast period

North America accounted for the largest market share in 2017 in the global gas leak detector market over the forecast period (2018-2026), owing to rising consumption of crude oil and natural gas, which will inadvertently increase the number of oil and gas manufacturing companies. For instance, according to the Enerdata (global energy statistical yearbook) analysis, in the U.S., the consumption of crude oil in 2016 was 549 mt (million tons) and it increased to 580 mt (million tons) in 2017.

Key Players

Major players operating in the global gas leak detector market include City Technology Ltd., Honeywell International Inc., Mine Safety Appliances Co., Dragerwerk AG & Corporation., Testo AG, ABB Ltd, Industrial Scientific Corporation, Figaro Engineering Inc., Yokogawa Electric Corporation, and Hitech Instruments Ltd.

Request For Customization of Research Report : https://www.coherentmarketinsights.com/insight/request-customization/2096

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

This release was published on openPR.