Gas Leak Detector Market Enhancement and Growth Rate Analysis 2018-2026 Forecast by Global Top Players

This report provides in-depth analysis of gas leak detector market size (US$ Mn) and compound annual growth rate (CAGR %) for the forecast period (2018–2026), considering 2017 as the base year

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Companies covered as part of this study include Honeywell International Inc., 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, Hitech Instruments Ltd.,  Mine Safety Appliances Corporation., Dragerwerk AG & Corporation., Testo AG, ABB Ltd, Industrial Scientific Corporation, Figaro Engineering Inc., Yokogawa Electric Corporation, and Hitech Instruments Ltd.

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.

Market Dynamics
Gas leak detectors play an important role in preventing occurrence of any dangerous situations, as it ensures that there is no leakage from the pipelines. Increasing investment by existing market players in research and development activities for integrating advanced technologies such as sensors, Internet of Things (IoT), artificial intelligence (AI), and many more in the gas leak detector is expected to aid in growth of the market. For instance, in July 2017, Emerson launched the Incus Ultrasonic Gas Leak Detector, which is equipped with four hypersensitive acoustic sensor units that enables the device to provide reliable, continuous monitoring performance. This system also monitors well ventilated outdoor environments. Moreover, it can withstand even the most extreme conditions and is unaffected by inclement weather, wind, leak direction, and gas dilution or stratification.

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. Similarly, in 20l5, the consumption of natural gas was 767 bcm (billion cubic metres) and it increased to 773 bcm (billion cubic metres) in 2016. Therefore, rising number of oil and gas manufacturing companies will lead to increasing demand for gas leak detector system for increasing the safety of employees working in those companies. Furthermore, increasing number of gas pipeline projects is another factor fueling growth of the gas leak detector market in this region. For instance, in the press release of July 2017, TansCanada Corporation announced its plans to spend US$ 160 million to increase capacity of the natural gas pipeline. The project will add compression and associated facilities to transport an additional 80 million cubic feet of natural gas per day. Thus, rising number of projects will increase the demand for gas leak detectors, as it helps in monitoring the condition of pipeline and in preventing leakage of gas from the pipeline.

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Detailed Segmentation:

Global Gas Leak Detector Market, By Product Type:
◦ Fixed Type Gas Detector
◦ Portable Gas Detector

Global Gas Leak Detector Market, By Technology Type:
◦ Electrochemical
◦ Ultrasonic
◦ Infrared
◦ Semiconductor

Global Gas Leak Detector Market, By Application:
◦ Industrial
◦ Residential
◦ Commercial

Table of Content
1. Research Objectives and assumption
2. Market Purview
3. Market Dynamics, Regulations, and Trends Analysis
4. Global Gas Leak Detector Market, By Product Type, 2015 – 2025 (US$ Million)
5. Global Gas Leak Detector Market, By Technology Type, 2015 – 2025 (US$ Million)
6. Global Gas Leak Detector Market, By Application, 2015 – 2025 (US$ Million)
7. Global Gas Leak Detector Market, By Geography, 2015 - 2025 (US$ Million)

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