Gas Detection Equipment Market to Grow at 4.8% CAGR during Forecast Period, TMR Study

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Oct 10, 2022, 07:30 ET

The metal oxide varistor industry also uses gas detection equipment since metal oxide gas sensors are effective in sensing oxidizing, reducing, or combustible gases through conductive readings
Due to the growth of the oil refining industry, the oil & gas category is anticipated to have a dominant share of the global market during the forecast timeline

WILMINGTON, Del., Oct. 10, 2022 /PRNewswire/ -- In 2021, the value of global gas detection equipment market was clocked at US$ 3.7 Bn. The market is anticipated to rise at 4.8% CAGR during the forecast period, from 2022 to 2031. By 2031, the global gas detection equipment market is anticipated to attain value of US$ 5.8 Bn. The global demand for gas detection equipment is being driven by a rising emphasis on health and safety at workplace across several industries. Due to the introduction of stringent laws and norms surrounding the regulation as well as emission of hazardous gases, various end-use industries, including manufacturing, healthcare, and oil & gas, are placing greater emphasis on workplace safety.

Given the considerable possibility of toxic gas leaks in industries, gas detectors are essential for workplace health and safety. Safety for both the environment and the workforce is ensured by gas detection equipment. Developing multi-gas detectors is a strategy used by key market players to broaden their product line and grow market share.

Owing to the existence of important suppliers and the adoption of strict EHS laws in North America, the region is anticipated to account for a significant portion of the global gas detection equipment market during the forecast timeline. It is predicted that the demand for gas detection system in the US will grow due to increasing incidence of illnesses brought on by dangerous gases including sulfur dioxide and carbon monoxide.

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Key Findings of Market Report

An increase in the number of workplace accidents has resulted in a major increase in worker knowledge about safety and health issues and different gas detector types. For the purpose of retaining employees, adhering to strict EHS laws, and enhancing brand perception, businesses are putting strong workplace health and safety management procedures in place. As a result, workplace gas detection equipment is in high demand.
Turbines, reactors, and high-pressure distribution pipes are amongst the spots where there is a high risk of gas leakage. As a result, businesses in the oil and gas industry are making sizable investments to upgrade their pipeline network. In order to prevent adverse situations, they are implementing strict gas detector working principle as well as reliable gas detection systems.
The portable gas detection category is expected to lead the global market based on product type. Handheld gas detectors, often known as portable gas detection systems, are simple and secure to transport in dangerous regions. Portable gas detectors monitor air quality in real time and inform safety professionals.

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Global Gas Detection Equipment Market: Growth Drivers

The growth in the number of Greenfield projects in Asia Pacific is expected to drive the regional market during the forecast timeline. The market for gas detection equipment in the Asia Pacific region is also expanding due to rapid industrialization and increased understanding of workplace safety.

Global Gas Detection Equipment Market: Key Players

Some of the key market players are

Changzhou Dongfeng Agricultural Machinery Group Co. Ltd
Jiangsu Wallong - Hsin Machinery Engineering Corporation Ltd.
Wuhan Anon Tech Trade Co., Ltd.
CNH Industrial America LLC
Xinjiang Boshiran Intelligent Agricultural Machinery Co. Ltd.
Özen Is Tarım Makinaları

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Global Gas Detection Equipment Market: Segmentation

Product Type

Fixed Gas Detection
Portable Gas Detection

Gas Type

Oxygen
Flammable
Toxic

Technology

Single Gas Detection
Multi-gas Detection

Industry Vertical

Oil & Gas
Chemicals & Specialty Chemicals
Mining
Water Treatment
Emergency Services
Semiconductors
Building Automation & Construction
Food & Beverages
Power Generation/Utilities

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