Portable Gas Detection Equipment Market Expected to Reach US$ 1,737.3 Mn by 2023
Growing demand for portability from applications where gas detectors are required in confined spaces, such as mining, is one of the major trends prevailing in the portable gas detection equipment market.
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 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 a market size of US$ 1,737.3 Mn by 2023.
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.
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.
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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.
On the basis of product type, the portable gas detection equipment market is further categorized into two segments: wearable and non-wearable portable gas detection equipment. Currently, non-wearable gas detection equipment accounts for a major share in the market. However, wearable gas detectors are gaining popularity, as these systems now come with integrated wearable sensor systems.
Some of the key players in the global portable gas detection equipment market include Industrial Scientific Corporation, Drägerwerk AG & Co., KGaA, Drägerwerk AG & Co. KGaA, Mine Safety Appliances, Crowcon Detection Instruments, Ltd., Trolex Ltd., Honeywell Analytics, RAE Systems Inc., Detcon, Inc., and Thermo Fisher Scientific Inc.
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