Selbyville, Delaware, May 26, 2021 (GLOBE NEWSWIRE) -- Credible sources claim that global gas detection equipment market size was valued approximately USD 3.63 billion in 2019 and is reckoned to record a compound annual growth rate of 5.70 % during 2020-2027 to accumulate USD 5.66 billion by the end of forecast period.
Besides, the documentation is prepared leveraging Porter’s Five Force Model and PEST analysis, while taking into consideration the opinions from industry experts, hence providing insights about the prevailing trends in the market space. Lastly, regional landscape, alongside competitive hierarchy are scrutinized in the report.
Factors like preference for using natural gases for heating and energy generation purposes, and surging investments for the safety of commercial and residential buildings are augmenting global gas detection equipment market share.
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Also, growing public awareness about government schemes, coupled with the rising prevalence of gas leaks leading to fatal accidents and health issues are also fostering the adoption of the gas detection equipment.
As per statistics of the National Transportation Safety Board in the USA, most of the major gas accidents are leak, owing to which the fire departments to respond to approximately 340 natural gas or LPG leaks without ignition every day.
For the unversed, gas detection equipment determines the presence of harmful gases in the environment. This device is an essential part of the safety system. It alerts the operators of gas leak in an area and enable them to take necessary steps in timely manner.
On the contrary, high maintenance cost, stagnant industrial & manufacturing sector, lack of expertise as well as the decreasing average sell price of the device due to pricing pressure from gas companies are expected to arrest the global gas detection equipment industry expansion over the forecast period.
Outlining market segmentations
Based on sensor type, the market is bifurcated into metal oxide semiconductor (MOS) sensors, infrared sensors, and electrochemical sensors.
Speaking of power source, worldwide gas detection equipment industry space is bifurcated into battery powered gas detectors and hardwired gas detectors, both with and without backup batteries.
With regards to end-user terrain, the industry is categorized into water treatment, mining, oil & gas, semiconductors, power generation/utilities, and building automation & construction.
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Elaborating regional spectrum
As per expert verbatim, Europe acquired major portion of worldwide gas detection equipment market share in the recent past, pertaining to increasing populace, coupled with proper technological infrastructure, and effectiveness of immediate care services.
Asia Pacific market, on the other hand, is expected to record strong growth rate over 2020-2027. Increasing gas-leak incidences, improving technological infrastructure along with promptness of government responders will bolster the regional growth.
Global Gas Detection Equipment Market by Sensor Type (Revenue, USD Billion, 2017-2027)
· Infrared Sensors
· Electrochemical Sensors
· Metal Oxide Semiconductor Sensors
Global Gas Detection Equipment Market by Power Source (Revenue, USD Billion, 2017-2027)
· Hardwired Gas Detectors with Backup Batteries
· Hardwired Gas detectors without Backup Batteries
· Battery-Powered Gas Detectors
Global Gas Detection Equipment Market by End-User (Revenue, USD Billion, 2017-2027)
· Water Treatment
· Oil & Gas
· Mining
· Building Automation & Construction
· Semiconductors
· Power Generation/Utilities
Global Gas Detection Equipment Regional Landscape (Revenue, USD Billion, 2017-2027)
Europe
· Germany
· France
· Italy
· Spain
· UK
· RoE
North America
· U.S.
· Canada
Asia Pacific
· India
· China
· Australia
· Japan
· South Korea
· RoAPAC
Latin America
· Mexico
· Brazil
ROW
Global Gas Detection Equipment Market Competitive Dashboard (Revenue, USD Billion, 2017-2027)
- Honeywell International Inc.
- Riken Keiki Co. Ltd.
- GE Measurement & Control Solutions
- Schauenburg Group
- RAE Systems Inc.
- Industrial Scientific Corporation
- Trolex Ltd.
- ESP Safety Inc.
- sE Electronics
- Siemens AG
Table of Content:
Chapter 1.Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Gas Detection Equipment Market, by Region, 2018-2027 (USD Billion)
1.2.2. Gas Detection Equipment Market, by Sensor Type, 2018-2027 (USD Billion)
1.2.3. Gas Detection Equipment Market, by End Use, 2018-2027 (USD Billion)
1.2.4. Gas Detection Equipment Market, by Power Source, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Gas Detection Equipment Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Gas Detection Equipment Market Dynamics
3.1. Gas Detection Equipment Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.1.1 increasing investments in safety of domestic and commercial buildings
3.1.1.2 frequent shift towards natural gases for heating and energy purpose
3.1.2. Market Challenges
3.1.2.1 intense pricing pressure of gas markets leads to fall of average selling prices of equipment
3.1.2.2 high maintenance costs
3.1.3. Market Opportunities
3.1.3.1 increasing prevalence of gas leaks
3.1.1. growing demand for adoption of gas sensorsMarket Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Gas Detection Equipment Market Industry Analysis
4.1. Porter's 5 Force Model
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Gas Detection Equipment Market, by Sensor Type
5.1. Market Snapshot
5.2. Global Gas Detection Equipment Market by Sensor Type, Performance - Potential Analysis
5.3. Global Gas Detection Equipment Market Estimates & Forecasts by Sensor Type 2017-2027 (USD Billion)
5.4. Gas Detection Equipment Market, Sub Segment Analysis
5.4.1. Infrared Sensors
5.4.2. Electrochemical Sensors
5.4.3. Metal Oxide Semiconductor (MOS) Sensors
Chapter 6. Global Gas Detection Equipment Market, by End Use
6.1. Market Snapshot
6.2. Global Gas Detection Equipment Market by End Use, Performance - Potential Analysis
6.3. Global Gas Detection Equipment Market Estimates & Forecasts by End Use 2017-2027 (USD Billion)
6.4. Gas Detection Equipment Market, Sub Segment Analysis
6.4.1. Oil & Gas
6.4.2. Water Treatment
6.4.3. Semiconductors
6.4.4. Mining
6.4.5. Building Automation and Construction
6.4.6. Power Generation/Utilities
Chapter 7. Global Gas Detection Equipment Market, by Power Source7.1. Market Snapshot
7.2. Global Gas Detection Equipment Market by Power Source, Performance - Potential Analysis
7.3. Global Gas Detection Equipment Market Estimates & Forecasts by Power Source 2017-2027 (USD Billion)
7.4. Gas Detection Equipment Market, Sub Segment Analysis
7.4.1. Battery-Powered Gas Detectors
7.4.2. Hardwired Gas Detectors wWith Backup Batteries
Chapter 8. Global Gas Detection Equipment Market, Regional Analysis
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