Portable Gas Detection Equipment Market - Top Players (Industrial Scientific Corporation, Drägerwerk AG & Co., KGaA, Drägerwerk AG & Co. KGaA, Mine Safety Appliances, Crowcon Detection Instruments, Ltd., Trolex Ltd.) - Future Trends to Watch

According to a new market report published by Transparency Market Research entitled “Portable Gas Detection Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023,” the global portable gas detection equipment market had generated revenues of US$ 1,145.3 Mn in 2014; this is projected to expand at a CAGR of 4.8% during the forecast period (2015 – 2023) and reach US$ 1,737.3 Mn by 2023.

One of the key driving factors for the portable gas detection equipment market is the growing popularity of wireless portable gas detection equipment. These portable gas detectors are capable of detecting gas leaks and explosives from safe distances, which makes them the preferred choice across industrial, mining, and oil & gas end-use sectors.

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The growing demand for portable gas detection equipment, primarily in industrial and building automation applications, is expected to boost the demand for portable gas detection equipment in Asia Pacific in the coming years. Furthermore, the application of portable gas detection equipment is expected to rise in Middle East and Africa (MEA), where large mining and oil exploration activities are carried out. Moreover, increasing awareness about workforce safety in MEA is also responsible for the fastest growth rate of this region. In the GCC region and Africa, a significant part of the demand is anticipated to come from the mining sector in the coming years.

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The portable gas detection equipment market is categorized on the basis of end-use into oil & portable gas, mining, industrial, building automation, and others. In 2014, the industrial end-use segment of the portable gas detection equipment market dominated the market, accounting for a major share. The demand from oil & portable gas and mining is also high, as the portability of a gas detector is prominent in these applications. Oil & portable gas are also anticipated to remain the fastest-growing segments over the forecast period from 2015 to 2023. The market for portable gas detection is also anticipated to witness growth in the building automation, waste water treatment, and educational end-use sectors.

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