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Gas Leak Detectors Market Revenue, Opportunity, Forecast and Value Chain 2014-2020

07-04-2017 09:36 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Gas Leak Detectors Market Revenue, Opportunity, Forecast

A gas leak detector is a piece of equipment or a device that senses and detects the existence of gases in a particular area. These devices are used as a part of safety systems installed in factories, homes and commercial complexes. A gas leak detector system detects the gas leaked and generates a signal to take proper action. Industrially, gas detector systems are fitted with a sound alarm to evacuate the area in case of toxic gas leakage. The popularity of such devices is growing due to the influx of new chemical facilities across the world. Further, the growing gas storage facility network across the globe has deployed a significant number of gas leak detectors for safety systems.

Due to their design modifications, gas detectors are broadly categorised on the basis of technology as electrochemical, infrared imaging, infrared point, ultrasonic, semiconductor and holographic. On the basis of product type, the global gas detectors market is bifurcated into portable gas detectors and fixed gas detectors.

Portable gas detectors are widely used in lab application whereas fixed detectors find their maximum application in gas extraction and processing fields. Fixed gas detectors can also be used for residential applications such as using itin a bedroom. Further, industrial fixed type gas detector application includes SCADA monitoring.

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Gas detectors are used in applications such as gas turbines, building and construction, health care, food and beverages, water treatment, oil and gas refineries, chemical plants, underground gas storage facilities, and others. The segments for refineries and chemical plants applications dominate the global market at present. Nevertheless, gas detectors are widely used in underground gas storage. The growing gas supply network is spurring the demand in this segment.

One of the major driving factors for gas leak detectors market is the ever growing oil & gas industry. The increasing number of gas field explorations and widening gas supply network has been fuelling the demand for gas leak detectors. In addition, active government organizations have been imposing safety regulations on the industries. This, in turn, has propelled the demand for gas leak detectors. Further, Asia Pacific is likely to lead the league in terms of growth of the industrial sector, mining sector, medicine and healthcare sector, and construction sector. This is likely to create opportunities for the growth of theglobal gas leak detectors market. However, the market is facing strong competition due to the influx of new players in the market and frequent product launches.

Multi-gas detector coupled with an analyzer system is one of the emerging trends in the global leaked gas detector market. This kind of detector is gaining popularity due to its compact designs and better features as compared to conventional gas leak detectors. It is expected that the after sales market is likely to develop further in future and a number of market participants will enter this segment. It is also expected that the gas leak detector manufacturers will expand their business to aftermarket sales through forward integration and strategic alliances.

A number of product launches can be seen in the global gas leak detectors market. For instance, market participants such as Scott Safety, GE and RAE Systems recently launched a few new gas leak detectors. The global gas leak detectors market has also been witnessing strategic alliances such as that between Cbiss and Old Man Partner. To expand the business globally, a number of gas leaked detectors manufacturers have acquired other companies such as the acquisition of Edinburgh Instruments Ltd by Techcomp Group Ltd., the acquisition of RAE Systems by Honeywell International Inc. and the acquisition ofGroveley Detection Ltd by Emerson.

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Some of the prominent players in global gas leak detectors market are City Technology Ltd., Honeywell International Inc., Mine Safety Appliances Co., Dragerwerk AG & Co., KGAA, Testo AG, ABB Ltd, Industrial Scientific Corporation, California Analytical Instruments Inc., Figaro Engineering Inc., Yokogawa Electric Corporation, Hitech Instruments Ltd, Ametek Inc., Emerson Electric Co.,Halma Plc, Trolex Ltd,GE Measurement & Control, Gasmet Technologies OY, Enerac Inc., Xtralis Pty. Ltd, Horiba Ltd and others.

ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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