Press release
Wireless Gas Detection Market Report: Size, Share, Trends, Overview, Growth Rate And Forecast To 2033
Wireless Gas Detection Market Report
The Business Research Company offers in-depth market insights through Wireless Gas Detection Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The wireless gas detection market size has grown strongly in recent years. It will grow from $2.13 billion in 2023 to $2.3 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to industrial safety regulations, workplace safety concerns, oil and gas industry growth, chemical industry compliance, mining sector safety.
The wireless gas detection market size is expected to see strong growth in the next few years. It will grow to $3.1 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to increasing industrial automation, rising adoption in emerging markets, demand from healthcare facilities, renewable energy sector, integration with IoT platforms. Major trends in the forecast period include wireless mesh networks for scalability, mobile applications for remote monitoring, enhanced human-machine interface (HMI), collaboration with cloud service providers, focus on intrinsically safe design.
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Market Segmentation:
The wireless gas detection market covered in this report is segmented -
1) By Type: Hardware, Software, Services
2) By Technology: Wi-Fi, Bluetooth, Cellular, License-Free ISM Band, Other Technologies
3) By End User: Oil And Gas, Chemical And Petrochemicals, Mining And Metals, Discrete Manufacturing Industry, Commercial Buildings And Public Facilities, Other End Users
Major Driver - Chemical Industry Fuels Surge In Wireless Gas Detection Market
The increasing demand for wireless gas detectors by the chemical industry is expected to boost the growth of the wireless gas detection market going forward. Wireless gas detection is a system or device that is designed for continuous monitoring of toxic and combustible gases in the air. Wireless gas detectors are used in the chemical industry to provide an early warning of the presence of toxic gas for enhanced worker safety. For instance, in June 2022, according to Chemical Industry Situation and Outlook, a report from the American Chemistry Council (ACC), a US-based industry trade association for American chemical companies, with growth in all chemistries, the United States' chemical output is anticipated to have its greatest year in more than a decade in 2022. Following a 1.6% increase in 2021, ACC anticipates output to increase by 2.4% in 2023. Strong demand and restocking drive a 6.2% increase in specialty chemical production in 2022. In 2022, capital expenditures increase by 12.3% to $34.5 billion and by 5.5% to $36.4 billion in 2023. Therefore, the increasing demand for wireless gas detectors by the chemical industry is driving the growth of the wireless gas detection market.
Competitive Landscape:
Major companies operating in the wireless gas detection market report are Siemens AG, Honeywell International Inc., 3M Company, AMETEK Inc., Sensit Technologies, AirTest Technologies Inc., MSA Safety Incorporated, Sensirion AG Industrial Scientific Corporation, Beijing SDL Technology Co Ltd., Crowcon Detection Instruments Ltd., Comstack Ltd., RKI Instruments Inc., United Electric Control Co, California Analytical Instruments Inc., Aeris Environmental Ltd., Drägerwerk AG & Co KGaA, Yokogawa India Ltd., Detector Electronics Corporation, RAE Systems Inc., Pem-Tech Inc., Tek Troniks Ltd., Ambetronics Engineers Pvt Ltd., Global Detection Systems Corp, Otis Instruments Inc., Teledyne Gas and Flame Detection, New Cosmos Electric Co Ltd., Trolex, International Gas Detectors, GfE Gesellschaft für elektronische Messgeräte GmbH
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Top Trend - Advancements In Bluetooth-Connected Gas Detectors For Enhanced Safety And Efficiency
Major companies operating in the wireless gas detection market are developing innovative products, such as bluetooth-connected gas detectors, to meet larger customer bases, increase sales, and increase revenue. A bluetooth-connected gas detector is a specialized device designed for the detection of gases in the surrounding environment. For instance, in October 2021, Honeywell International Inc., a US-based company that manufactures and sells products and services, launched Searchline Excel Plus and Searchline Excel Edge. The Searchline Excel Plus and Searchline Excel Edge represent the next generation of open-path gas detectors, incorporating advanced optics and high-powered infrared technology. These innovative devices excel in adverse weather conditions with reduced visibility and extended detection distances. Notably, they are equipped with Bluetooth connectivity, streamlining maintenance and calibration processes for plant personnel. Honeywell's Searchline devices, featuring advanced optics and near-band infrared absorption technology, demonstrate the capability to penetrate thick fog with minimal visibility. The integration of Bluetooth connectivity in both models facilitates seamless pairing with the Honeywell Fixed Platform App, offering simplified and efficient maintenance and testing procedures and ensuring enhanced safety and performance checks.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Wireless Gas Detection Market Characteristics
3. Wireless Gas Detection Market Trends And Strategies
4. Wireless Gas Detection Market - Macro Economic Scenario
5. Wireless Gas Detection Market Size And Growth
…..
27. Wireless Gas Detection Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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