Global Gas
Detection Equipment Market To Hit US$ 3.70 Bn by 2023
According to a new
market report published by Credence Research, Inc. “Global Gas Detection
Equipment Market (By End-use Application (Commercial, Industrial
(Manufacturing, Oil and Gas, Mining, Utilities, Automotive, and Others), and
Residential), By Type (Fixed Gas Detection Equipment, Portable Gas Detection
Equipment) - Growth, Share, Opportunities, Competitive Analysis, and Forecast
2016 - 2023”, the global gas detection equipment market is expected to expand
at a CAGR of 6.2% from 2016 to 2023, reaching US$ 3.70 Bn by 2023.
Browse the full Global
Gas Detection Equipment (By End-use Application (Commercial, Industrial
(Manufacturing, Oil and Gas, Mining, Utilities, Automotive, and Others), and
Residential), By Type (Fixed Gas Detection Equipment, Portable Gas Detection
Equipment) Market - Growth, Share, Opportunities, Competitive Analysis, and
Forecast 2016 – 2023 report at http://www.credenceresearch.com/report/gas-detection-equipment-market
Market
Insights
Gas detection
equipment is a subset of a safety system used across multiple industries to
detect the presence or leakage of gases in a confined area. Ideally, gas
detection equipment is coupled with a control system to sound an alert for
shutting down running operations. Thus, it is used to alert workforce regarding
a potential risk of explosion or fire break due to possible gas leakage. While
the deployment of gas detection equipment was predominantly limited to industry
verticals such as oil and gas, mining, and utilities (water and waste water
treatment), the advancements in technology have expanded their use in
commercial as well as residential applications. Need for safety at workplace
remains the overriding factor driving market growth in these segments.
Competitive
Insights:
The global market for
gas detection equipment is highly consolidated. The leading three gas detection
manufacturers account for over 50% of the global market revenue. Dragerwerk AG & Co. KGaA, Honeywell
Analytics, and Mine Safety Appliances (MSA) Company are identified as the
leading gas detection equipment manufacturers worldwide. Some of the promising
and emerging players identified in the global gas detection equipment market
include Industrial Scientific Corporation, RAE Systems Inc, GE Measurement
& Control Solutions, Sensidyne, LP, Trolex Ltd., Siemens AG, BW
Technologies Ltd, ENMET Corporation, Airtest Technologies Inc., Bacharach Inc,
and Scott Safety among others. In order to sustain in this relatively matured
market, players are increasingly focusing on expanding product portfolio and
global presence through strategic partnerships and acquisitions.
Key Trends:
Growing preference for
small portable/wireless gas detection equipment across all end-use applications
Stringent government
regulations promoting occupational health and personal safety
Growing demand for
natural gas detectors in residential applications
Use of ultrasonic gas
detectors in industrial applications
About Us:
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