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Gas Detection Equipment Market is Estimated to Grow at a CAGR of 9.42% within the forecast period of 2023-2030: Cognitive Market Research
Gas Detection Equipment Market is Estimated to Grow at a CAGR of 9.42% within the forecast period of 2023-2030: Cognitive Market R
- Gas Detection types of equipment are used to detect combustible, flammable, and toxic gases, and oxygen depletion. These tools are appropriate for a variety of industrial uses, and toxic gas detection can be crucial for personal safety, especially for people who work in potentially explosive conditions. Additionally, it has sensors that measure the concentration of different gases in the atmosphere.
Summary
- As per our study, the Global Gas Detection Equipment market size stood at USD 5.23 billion in 2023. It is expected to expand at a compound annual growth rate (CAGR) of 9.42% from 2023 to 2030. North America is the largest market for gas detection equipment market, and APAC is the second largest market for gas detection equipment market.
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Market Dynamics
- The growing need for gas detection equipment in the oil and gas industry for applications like emergency response, fracking, and leak detection, and increasing concern about workers' safety, are fuelling market growth. In addition to that, government regulations regarding employee safety are also driving the growth of the gas detection equipment market.
- Further, rising investments in improving gas pipeline infrastructure, and innovative product development, such as Bluetooth-based detection equipment creates opportunities for the market in the upcoming period. However, the limited detection range of particular detectors and maintenance requirements can hamper the growth of the market.
Market Segmentation
- Product Type
• Fixed Gas Detection
• Portable Gas Detection
- Communication Type
• Wired
• Wireless
- Gas Type
• Oxygen
• Flammable
• Toxic
- Technology
• Single Gas Detection
• Multi-gas Detection
Multi-gas detection segment commands the global gas detection equipment market, owing to its ability to detect different types of gas. Due to the use of multi-gas detection equipment users do not need to different gas detectors for different types of gases, so they prefer multi-gas detectors compared to single-gas detectors.
- Industry Vertical
• Oil & Gas
• Chemicals & Specialty Chemicals
• Mining
• Water Treatment
• Emergency Services
• Semiconductors
• Building Automation & Construction
• Food & Beverages
• Power Generation/Utilities
- Competitive Analysis for Gas Detection Equipment Market:
Drager, MSA, ENMET Corporation, Honeywell Analytics, Industrial Scientific, New Cosmos Electric, Tyco International, Riken Keiki, Emerson, Oldham, UTC, 3M, Hanwei, IGD, Sensit Technologies, Shanghai Aegis, Martin Bruusgaard.
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Regional Analysis
- North America is the largest market for gas detection equipment market, this is due to stringent government regulations regarding the gas industry and worker safety, increasing prevalence of diseases caused by harmful gases is anticipated to drive the growth of the market in this region. Further, Asia Pacific is the second largest market and it is estimated that it will grow with the highest growth rate in the forecast period. The rapid growth of industrialization in developing economies such as India, and China is fuelling the growth of the market.
News
- IGD Partnered with MPower Electronics (September 2021)
IGD announced that they have officially partnered with mPower Electronics Inc., USA. This strategic partnership will allow IGD to offer mPower detectors, further extending its portable gas detector portfolio.
Browse Here For Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Gas Detection Equipment Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Segmentation
1.5.1 Regional Fragmentation
1.5.1 Market Players
• 1.6 Report Duration
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary
Chapter 4 Global Gas Detection Equipment Market Overview
• 4.1 Introduction
• 4.2 Global Gas Detection Equipment Market Statistics by Regions (2018-2030)
4.2.1 North America Gas Detection Equipment Status and Prospect (2018-2030)
4.2.2 Europe Gas Detection Equipment Status and Prospect (2018-2030)
4.2.3 Asia Pacific Gas Detection Equipment Status and Prospect (2018-2030)
4.2.4 Latin America Gas Detection Equipment Status and Prospect (2018-2030)
4.2.5 Middle East and Africa Gas Detection Equipment Status and Prospect (2018-2030)
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Qualitative Analysis
Chapter 7 Company Profiling (Subject to Availability)
Chapter 8 Global Gas Detection Equipment Market by Type Segmentation Analysis (2018-2030)
Chapter 9 Global Gas Detection Equipment Market by Application Segmentation Analysis (2018-2030)
Chapter 10 Global Gas Detection Equipment Market Regional Analysis
Chapter 11 North America Gas Detection Equipment Market Outlook (2018 - 2030)
Chapter 12 Europe Gas Detection Equipment Market Outlook (2018 - 2030)
Chapter 13 Asia Pacific Gas Detection Equipment Market Outlook (2018 - 2030)
Chapter 14 Latin America Gas Detection Equipment Market Outlook (2018 - 2030)
Chapter 15 Middle East and Africa Gas Detection Equipment Market Outlook (2018 - 2030)
Chapter 16 Research Findings
To know more Gas Detection Equipment Market TOC click here: https://www.cognitivemarketresearch.com/gas-detection-equipment-market-report#table_of_contents
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About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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