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Global Gas Leak Detectors Market Representing a CAGR Of 5.29% Through 2015 To 2020
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Key driving factors, identified in the global gas leak detectors market are stringent government safety norms, growing investment in oil & gas and chemical Industries and increasing commercial and residential infrastructure development. However, lower profit margin due to intense competition, deferred investments in oil and gas might pose a challenge towards the growth of the global gas leak detector market. Some of the major trends identified in the global gas leak detector market are the use of internet of everything (IoT) and artificial neural network technology and gas leak detectors.
The global gas leak detector market report is categorically split under four sections namely: market analysis by region, applications, product type and technology. The report analyses the global gas leak detector market in terms of market value (US$ Mn) and volume (Million Units).
From a regional perspective, North America, Latin America, Eastern Europe and Western Europe together contributed 50% of the global gas leak detector market value in year 2014. Whilst Asia Pacific excluding Japan contributed total 35%, making it the largest geographical segment in the global gas leak detector market. The Middle East and Africa gas leak detector market is projected to grow at promising CAGR of 6.27% through the forecast period.
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