Gas Detection Device Market Analysis and Forecast to 2025 | 7.6% CAGR Projection over the Next Five Years
Published | April 2019
According to BlueWeave Consulting, the global Gas Detection Device market is anticipated to worth USD 2,048 million in 2018, with a CAGR of 7.6% during 2019-2025. The Global Gas Detection Device Market is expected to grow at a significant rate during the forecast period, owing to the increasing implementations in the oil and gas industry segment on accounts of increasing safety regulations in industries.
Global Gas Detection Device Market is boosting with the increasing demand for plant safety coupled with personnel safety worldwide, which has led to an increase in demand for gas detector devices. Also, the implementation of tough safety rules and environmental regulations is expected to be the key driving factor over the coming years for the growth of the gas detector device market. Stringent government and industrial regulations imposed for the safety of personnel from gaseous and chemical emissions in industrial settings are generating several opportunities for the industry growth in recent years. The positive growth of high ends manufacturing industries such as aerospace and automobiles upsurge the demand for emergency response systems are expected to further augment the market growth of gas detector device across the globe.
The gas detection device is used mostly as a part of a safety system for detecting the presence and leak of various gases in a consigned area. The detector device is linked to a control system to automatically shut down the process and alert the operators at times of gas leak for vacating the area. Harmful impacts of gases from manufacturing activities that include respiratory diseases and other health problems create the need to deploy detecting systems that further increase the gas sensing component consumption. Moreover, the acceptance levels of exposure of personnel to toxic gases are defined by industry guidelines. This acceptance level of toxic gases is governed by regulatory organizations such as the Occupational Safety & Health Administration (OSHA) and the American Society of Heating Refrigeration & Air Conditioning Engineers (ASHRAE) forces industry to install gas detecting device. Furthermore, the market is growing on account of strict regulations and high compensations in the case of hydrocarbon spills; aging pipelines are propelling the demand for gas detection devices across the globe.
The Combustible gas detection device is expected to be the most lucrative segment of the Global Gas Detection Device Market.
The Combustible gas detector device market is expected to dominate the market due to various applications in laboratory and climate control for indoor environments. They are an essential part of the automotive, industrial applications owing to their deployment in systems, including port fuel injection and cylinder engines. Moreover, these are most preferred due to its several benefits, such as enhanced engine performance, reduced exhaust emissions, etc. to automobile systems. Furthermore, these gas detecting products are increasingly being deployed in residential infrastructure to detect carbon monoxide content in the in-house environment due to the increased environmental pollution across the globe.
Consumer Electronics Industry is anticipated to be the fastest-growing industry for using applications of Gas Detector devices during the forecast period.
Based on application, the global gas detection device market is segmented in various sectors such as Oil and Gas, Chemicals, Electronics, Mining, Water Treatment, Emergency Service, Building Automation and Construction, Food and Beverages, Power Generation/Utilities. The consumer electronics segment is expected to grow at the highest growth rate since gas detectors are expected to be integrated into smartphones, tablets, and wearable devices to detect gases such as alcohol, carbon monoxide, carbon dioxide, nitrogen dioxide, and VOCs. Moreover, advancements in consumer electronic devices that provide weather forecasts, altitude tracking, and indoor air pollutant information are further boosting the overall growth of the emerging market.
Global Gas Detection Device Market Competitive Landscape
Key companies operating in the gas detection equipment market are Drägerwerk AG & Co., ESP Safety Inc., Troloex Ltd., Industrial Scientific Corp. MSA Safety Inc., Sensidyne, RAE Systems Inc., GE Measurement & Control Solution, Schauenburg Group, Honeywell International Inc., Siemens AG, Riken Keiki Co. Ltd., and SE Electronics. Acquisitions, mergers, and new product developments are key strategies used by key participants to improve their competitiveness and to cater to customer bases in the global market.
Key Developments in the Gas Detector Market
May 2018: The Honeywell BW Ultra can monitor up to five different gases simultaneously, including volatile organic compounds (VOCs) while leveraging Bluetooth connectivity to allow safety managers to collect and track valuable data. It also featured Honeywell Touch Connect technology, which made configuration, calibration, and bumps testing fast and simple.
September 2017: Emerson Introduced Wireless Toxic Gas Monitor to Protect Personnel at Challenging Remote Locations. The Rosemount 928 Wireless Gas Monitor is a fully integrated WirelessHART toxic gas monitoring solution.
Browse Detailed Analysis with TOC, “Global Gas Detection Device Market, By Product Type (Fixed, Portable), By Gas Type (Oxygen, Combustible, Flammable, Toxic) By Technology (Single Gas Detection, Multi Gas Detection), By Application (Oil And Gas, Chemicals, Consumer Electronics, Mining, Water Treatment, Building Automation And Construction, Food And Beverages, Power Generation/Utilities), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), Market Trend Analysis, Competitive Analysis, Size And Forecast, 2015-2025” at https://www.blueweaveconsulting.com/global-gas-detection-device-market-bwc19151