Gas detection equipment can identify the presence of harmful gases in the environment and raise an alarm to prevent accidents. Gas detection equipment are helpful to detect oxygen depletion, combustible, and toxic gases. Gas detection equipment are reliable, tough, and naturally protected. In addition, continuous data logging feature is expected to increase market attractiveness of gas detection equipment across different regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Asia Pacific is expected to be the fastest growing market during the forecast period owing to fast growing economies such as China and India, which is expected to the lead the growth of gas detection equipment in the region. In addition, growth of mega projects in industries and growing investment in oil and gas industry is expected to drive the gas detector equipment market during the forecast period.
Europe, along with North America are mature markets which have a very high penetration rate in the gas detection equipment market.
Rapid development in technologies has resulted in the introduction of advanced and innovative products in the gas detection equipment market. Technologies such as cloud computing and wireless HART are integrated with gas detectors to enhance the detection points or area coverage.
Government bodies and industry associations have formulated regulations that require businesses to maintain a safe work environment. This is expected to drive the gas detection equipment market during the forecast period.
Apart from this, technological advancements leading to increased product efficiency is stoking demand for newer equipment. This bodes well for the gas detection equipment market.
Increase in operations of shale gas exploration and rise in demand for energy is anticipated to drive the global gas detection equipment market during the forecast period
Increasing awareness about the risks associated with the gases across different end-use industries such as oil & gas, mining, water treatment, building & construction, food & beverages and others is expected to increase the demand for gas detection equipment.
However, entry of new players and competitive prices offered by them has forced established players to lower prices. This is expected to result in reduced profits of established players during the forecast period.
The global gas detection equipment market has been segmented based on product, gas type, technology, end-use industry, distribution channel, and region.
Product - In terms of product, the global gas detection equipment market has been classified into fixed gas detection equipment and portable gas detection equipment. Portable gas detection equipment is expected to grow at the fastest rate during the forecast period.
Gas Type - In terms of gas type, the global gas detection equipment market has been classified into combustible, oxygen, and toxic gases.
Technology - In terms of technology, the global gas detection equipment market has been classified into single gas detection equipment and multi gas detection equipment.
End-use Industry - The gas detection equipment market has been divided into oil & gas, chemicals & specialty chemicals, mining, water treatment, building automation & construction, food & beverages, power generation/utilities, and others in terms of end-use Industry.
Distribution Channel - Based on distribution channel, the gas detection equipment market has been bifurcated into online and offline. Online segment is expected to grow at the fastest rate during the forecast period.
Region - Based on region, the market is classified into North America (U.S, Canada, and Rest of North America), Europe (U.K, Italy, France, Germany, and Rest of Europe), Asia Pacific (India, China, Japan, and Rest of Asia Pacific), Middle East & Africa ( GCC, South Africa, and Rest of Middle East & Africa), and South America (Argentina, Brazil, and Rest of South America). The market in South America and Middle East & Africa is expected to grow at a higher potential rate as these regions are seeing more developments in the field of oil & gas and other industries.
The gas detection equipment market is fragmented due to the presence of several players. Competition is expected to intensify in the coming years with the entry of several local players. Some of the key players in the market are Riken Keiki Co., Ltd, Industrial Scientific Corporation, Drägerwerk AG & Co. KGaA, MSA Safety Incorporated, Siemens AG, Honeywell International Inc., RAE Systems Inc., General Electric Co., Emerson Electric Co., Thermo Fisher Scientific Inc., ESP Safety Inc., Sensor Electronics, Trolex Ltd, Tyco International, Airtest Technologies, and others.