Stringent government regulations encouraging occupational health and safety are instrumental in driving demand for gas detection equipment worldwide. Growing demand for portable/wireless gas detectors has provided the much-required impetus to the market growth. In addition, technological advancements have led to the development of compact gas detector systems and have simplified the fabrication/integration process. The introduction of ultrasound gas detectors and natural gas detectors represents a positive outlook for the market growth in commercial and residential applications. All these factors are expected to collectively contribute towards a compounded annual growth rate (CAGR) of 6.2% during the forecast period 2021 – 2029. The global gas detection equipment market is expected to reach US$ 3.70 Bn by 2029.
Report Scope
This report analyzes the global gas detection equipment market in terms of product type, end-use application, and geography. On the basis of product type, the market is segmented into fixed gas detection equipment and portable gas detection equipment. Similarly, on the basis of end-use application, the global market for gas detection equipment is further classified into industrial (oil and gas, manufacturing, mining, utilities, automotive, and semiconductor among others), commercial and residential. The geographical distribution of the global gas detection equipment market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
1.1 Report Description
Purpose of the Report
The purpose of this strategic research study titled “Global Gas Detection Equipment Market - Growth, Share, Opportunities, and Competitive Analysis, 2021 – 2029” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global gas detection equipment market.
Target Audience
USP and Key Offerings
The report titled “Global Gas Detection Equipment Market- Growth, Share, Opportunities, and Competitive Analysis, 2021 – 2029” offers strategic insights into the global gas detection equipment market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on product type, end-use, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading gas detection equipment manufacturers, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and key developments. Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global gas detection equipment market, offering market size and estimates for the period from 2019 to 2029, keeping in mind the above mentioned factors.
In terms of revenue, fixed gas detection equipment dominated the global gas detection equipment market in 2020. The segment is presumed to witness comparatively slower growth during the forecast period 2021 - 2029. The slow growth in the fixed gas detector segment is expected to be offset by strong demand for portable gas detectors. The advancements in technology have led to the development of smaller, compact, and mobile gas detectors. Although fixed gas detection equipment is the largest product segment, the market for gas detection equipment is majorly shaped by the growing preference for wireless gas detectors, especially in mining fields where there is confined space and limited access to electricity. Superior benefits offered in terms of size, operation, mobility, reliability, and durability is driving the popularity of portable gas detectors. Thus, portable gas detectors are presumed to register superior growth during the forecast period.
While the deployment of gas detection equipment was predominantly limited to industrial verticals including oil and gas, mining, and utilities (water and waste water treatment), their applications have now expanded to emerging verticals such as healthcare, fire rescue, and education among others.
As of 2020, the global gas detection equipment market was led by the industrial application segment covering oil and gas, mining, manufacturing, electrical and electronics, and automotive sectors. The industrial segment that currently account for over 60% of the global gas detection equipment market revenue is expected to exhibit steady growth during the forecast period, retaining its leading position by 2029. The largest growth in the segment can be credited to the oil and gas sector, driven by an increase in shale gas exploration activities. Need for safety at workplace remains the overriding factor driving market growth in the industrial segment.
In 2020, North America and Europe collectively dominated the gas detection equipment market worldwide. North America and Europe collectively accounted for over 60% of the global gas detection equipment market revenue in the same year. The trend shall prolong and North America is presumed to hold on to its leading position throughout the forecast period. The dominance of can be majorly credited to the technology advancements and controlled growth in handheld portable gas detector segment. However, Asia Pacific is poised to witness maximum growth, supported by growing public awareness and stringent government regulations promoting personnel safety at workplace. RoW is also presumed to register strong growth during the forecast period led by demand from mining and oil and gas sectors.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Gas Detection Equipment market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Product Type
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End-use Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
