Rapid Adoption of Smart Gas Detection Equipment Fuels Industry Growth, Owing to the Consumer Inclination Towards Safety

Gas Detection Equipment Market

Gas Detection Equipment Market research report Segmented By Type (Fixed, Portable), By End User (Oil & Gas, Mining, Manufacturing, Others)

ROCKVILLE, MARYLAND, UNITED STATES, October 21, 2021 /EINPresswire.com/ — According to a recently collated Fact.MR report, sales of gas detection equipment will increase at a CAGR of 4.6%, in terms of volume, between the period 2017 and 2026. Innovation in technology, which leads to product premiumization, is expected to pave opportunities for the market. Vendors across the globe are introducing innovative technologies, such as portable gas detection equipment, which facilitate utilization and calibration. Revenues from worldwide sales of gas detection equipment are likely to exceed US$ 1,900 Mn by 2026-end.

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Advancements in technology, such as the internet of things (IoT) and artificial intelligence (AI), have influenced the development of smart gas detection equipment. There is high demand for smart gas detection equipment on the back of their additional features beneficial for customers, along with the requirement for relatively lower maintenance. Smart gas detectors offer the convenience of being operated through applications in tablets or smartphones, which includes an alert notification feature that enables taking necessary action on time. In addition, companies manufacturing gas detection equipment are introducing innovative concepts, with the focus on enhancing the sensitivity and efficiency of sensors in the detection of harmful gases. High sensitivity CO and smoke detectors give appropriate early warning, thereby enabling prompt investigation, control, and action prior to thoughtful damage. Leading players in the global gas detection equipment market are also concentrating on integration of sensors that are capable of detecting multiple gases.

Report Benefits & Key Questions Answered

Gas Detection Equipment Category and segment level analysis:Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.

Gas Detection Equipment Historical volume analysis: The report provides a comparison of Gas Detection Equipment’s historical sales and projected sales performance for 2021-2031.

Gas Detection Equipment Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Gas Detection Equipment market. It carefully gauges the impact of changing healthcare needs of key demographics globally

Gas Detection Equipment Consumption by demographics: The report investigates consumer behavior affecting Gas Detection Equipment demand outlook for the assessment period. Effect of their keenness for digital trends on Gas Detection Equipment market is carefully analyzed

Post COVID consumer spending on Absorbable Surgical Suture: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Gas Detection Equipment market growth.

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Key players significantly contributing and underpinning growth of the global gas detection equipment market include

Conspec Controls Inc.
Sensidyne, LP
Global Detection Systems Corp.
Analytical Technology Inc.
Gas Measurement Instruments Limited.
Enmet LLC.
ESP SAFETY INC.
Gastech Australia Pty Ltd.
Trolex Ltd.

Market Taxonomy

Region

North America
Latin America
Europe
Japan
APEJ
MEA

Type

Fixed
Portable

End User

Oil & Gas
Mining
Government & Military
Manufacturing
Others

5 Key Takeaways from Fact.MR’s Report on Gas Detection Equipment Market for Forecast Period 2017-2026 (In Terms of Volume)

North America is likely to prevail as the most remunerative market for gas detection equipment, closely trailed by Europe. Gas detection equipment sales in these regions are collectively poised to account for roughly half share of the market by 2026-end.

Asia-Pacific excluding Japan (APEJ) is also expected to hold a major market share during the forecast period, with sales exhibiting the highest CAGR through 2026.

Forecast to account for more than half share of the market during 2017 to 2026, fixed gas detection equipment will spearhead the market, on the basis of type. However, portable gas detection equipment are likely to witness the fastest expansion in the market.

Oil & gas industry is anticipated to remain dominant end-user of gas detection equipment across the globe, with sales forecast to exceed 340 Mn units by 2026-end. The manufacturing industry, trailing oil & gas industry in terms of sales, will continue to exhibit a relatively faster expansion in the market.

Exhibiting steady CAGRs through 2026, mining industry and government & military sector are also expected to remain major end-users of gas detection equipment.

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A large number of insurance companies across the globe are providing discounts to industries purchasing protective systems. While seeking insurance savings, several house owners as well as various industries opt for gas detectors. Gas detection equipment manufacturers have therefore found the opportunity to collaborate with insurance companies for attracting a larger target audience pool. Key companies sustaining expansion of the global gas detection equipment market include Honeywell International Inc., Emerson Electric Co., RKI Instruments, Inc., 3M Company, Halma plc, MSA Safety Incorporated, Dragerwerk AG & Co. KGaA, Fortive Corporation, United Technologies Corporation, General Electric Company, Thermo Fisher Scientific Inc., Trolex Ltd., Gastech Australia Pty Ltd, ESP SAFETY INC., Enmet LLC., Gas Measurement Instruments Limited., Analytical Technology Inc., Global Detection Systems Corp., Sensidyne, LP, and Conspec Controls Inc.

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Source: EIN Presswire