Top 10 key players in Global Facilities Management To Experience Significant Growth During The Forecast Period 2017 - 2025
The global market for portable gas detection equipment is expanding on the back of stringent regulations for workplace safety especially in industrial and manufacturing sectors. With product innovation and technological advances newer wireless gas detectors have been developed that can detect poisonous gases and are useful to measure gas concentrations in hard to reach environments. Wireless gas detectors can detect a host of industrial gases such as carbon dioxide and ammonia that are hazardous to health.
With increasing petroleum prices and environmental emission concerns the use of natural gas as an automobile fuel is on the rise. As such, the increasing number of natural gas filling stations is stoking demand for natural gas detector to prevent accidents.
On the flip side, high response time of gas detectors with change in gas concentration and intense competitive rivalry among market players is negatively impacting revenue of the portable gas detection equipment market.
Owing to a number of favorable factors, the global market for portable gas detection equipment market is likely to progress at 4.8% CAGR for the forecast period between 2017 and 2023.
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Oil & Portable Gas End-use Segment to Continue to Remain Lucrative
The portable gas detection equipment market is segmented in terms of basis of end use, type, and geography, In terms of end-use, mining, oil & portable gas, building automation, industrial, and others are the segments into which this market is divided. Out of these, oil & portable gas is anticipated to display the leading growth rate over the 2017-2023 forecast period. The Middle East and Africa is anticipated to emerge as an attractive market for portable gas detection equipment. This is due to increasing measures to improve workplace safety in the booming oil and gas industry in the region.
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Furthermore, increasing initiatives to replace old and obsolete portable gas detection equipment in the oil and gas industry vertical is also favoring the growth of this market. This is to prevent reoccurrence of large-scale disasters where several people lost their lives due to the inability of old gas detectors to detect gases.
Government regulations to bolster workplace safety and need to install advanced devices is boosting the demand for portable gas detection equipment in the mining sector. Mining operations are subject to fire hazards and explosions that can cause injury to personnel. As per the Bureau of Labor Statistics in the U.S., mining is the second-most dangerous occupation in the country.
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Building automation is predicted to emerge as a key end-use segment for portable gas detection equipment. Facility ventilation and air conditioning systems in modern buildings are increasingly being equipped with gas detector to prevent transmission of toxic gases from source areas into non-hazardous areas.
In terms of product type, wearable and non-wearable are the segments into which the portable gas detection equipment market is divided. Of the two, wearable gas detectors hold prominence and is likely to display leading growth in this market in the upcoming years.
Statutes of Workplace Safety Make North America Dominant
On the basis of geography, North America contributed the leading revenue of US$369.9 mn in 2017 among other key regions in the global portable gas detection equipment market. The growth of this region is mainly because of stringent government regulations regarding workplace safety. Europe, Asia Pacific, Latin America, and the Middle East and Africa are other key regions for portable gas detection equipment.
Key names in the global portable gas detection equipment market include RAE Systems Inc., Mine Safety Appliances, Detcon Inc., Trolex Ltd., Crowcon Detection Instruments Ltd., Industrial Scientific Corporation, Honeywell Analytics, and Drägerwerk AG & Co. KGaA.
Advances in Portable Gas Detection Equipment Market to Aid in Employee Safety Compliance
Gas detection equipment have made notable technological strides in relation to their performance and design parameters. One of the key design advancements have been due to focus on ergonomics. As a result, the use of gas detection equipment has expanded to various applications notably that include sewers, industrial plants, boiler rooms, underground utility vaults, and remote fleets. Over the years, revenue streams in the portable gas detection equipment market have become becoming denser over the years. Equipment manufacturers have brought new performance possibility by incorporating cutting-edge technologies such as sensors. Players in the portable gas detection equipment market are leaning on helping companies in seamless compliance with industry regulations. In recent decades, industries have seen a rapidly entrenching focus on workplace safety, propelling the market propositions of advanced gas detection technologies. Portable ones have gained vast popularity in recent times due to the high ergonomics value they bring to end-use industries. A key market avenue has come from the demand for these by first responders in various scenarios. Advent of new design parameters in the portable gas detection equipment has increased the flexibility and have made these strikingly more configurable.
The Covid-19 pandemic has brought about industry-wide disruptions in the operational, tactical, and strategic frameworks. The manufacturers in the portable gas detection equipment have also begun adopting these frameworks. Key to these is the use of automation technologies, and robotics. A growing number of players in the market are also leaning on leveraging the digital platforms to connect with the current customers and prospects. New avenues have emerged on the back of recent updates in regulations pertaining to gas detection in industrial plants. Further, the pandemic-led lockdowns in various countries have spurred the remote monitoring of hazardous industrial activities, opening new prospects for investments by sensor manufacturers to cater to the demand for OEMs in the market.
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