Gas Detection Equipment Market to Hit USD 5.8 billion by 2031: Report Analysis by Transparency Market Research Inc.
As workplace, safety regulations become more stringent, gas detection equipment is becoming increasingly popular.
Wilmington, Delaware, United States, Nov. 16, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The market for gas detection equipment was worth US$3.7 billion in 2021. A CAGR of 4.8% is predicted for the market through 2031. According to TMR, gas detection equipment sales will reach US$ 5.8 billion by 2031.
The use of materials and equipment that pose gas-related risks is common in infrastructure development. To ensure safety during such projects, gas detection solutions are needed. Especially in industries characterized by dynamic work environments, portable and wireless gas detectors are increasingly popular due to their convenience, ease of use, and flexibility.
Sensing and detection devices are becoming smaller and more portable, making them more widely deployable. Monitoring and analysis of data in real-time using mobile devices. Sensors and central monitoring systems will increasingly communicate via wireless technologies. Integrate IoT (Internet of Things) to share data efficiently and monitor your device remotely.
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Advanced sensor technologies, in particular nanotechnology can enhance sensitivity, selectivity, and response times. Multiple gas sensors can be used simultaneously in multi-sensor arrays. Integrating data analytics with artificial intelligence (AI) to analyse gas detection data more accurately and predictively. Algorithms for detecting anomalies and recognizing patterns using machine learning.
Gas detection data is increasingly being stored, analysed, and shared on cloud-based platforms. From anywhere in the world, data can be accessed and real-time monitoring conducted. Reducing downtime and ensuring accurate measurements through automated calibration processes and self-diagnostics. Based on sensor performance and usage patterns, predictive maintenance is performed. Including additional safety features that can warn users of gas leaks and shut down the system automatically. Data interpretation and quick response are made easier by user-friendly interfaces.
Global Gas Detection Equipment Market: Key Players
As companies expand their product portfolios, they invest in research and development. As manufacturers strive to sustain their market position, they launch new products, acquire companies, form partnerships, and collaborate with other companies.
- 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
Key Findings of Market Report
- Oil refining is expected to expand, resulting in a dominant position for the oil and gas segment during the forecast period.
- Gas detection for portable devices dominates the global market.
- Petroleum and gas industries use chemical products that are toxic and explosive.
- Health and safety awareness has increased among workers as workplace accidents have increased.
- Technology and new techniques are expected to increase demand for gas detection equipment.
Global Gas Detection Equipment Market: Growth Drivers
Regulations governing safety standards in different industries, including oil and gas, chemicals, mining, and manufacturing, have significantly boosted the market for gas detection equipment. Gas detection systems have been increasingly adopted to protect workers and assets due to safety standards and regulations.
Gas detection equipment has become more popular as workplace safety awareness grows. Companies are increasingly taking safety measures to prevent accidents, protect employees, and ensure compliance with regulations.
Detectors for gas have improved due to advances in sensor technology, analytics, and communications systems. Data analytics, wireless communications, and IoT integration provide real-time monitoring, early detection, and preventive maintenance.
The occurrence of gas leaks and accidents in various industries has underscored the need for effective gas detection systems. These incidents can have severe consequences for human safety and financial losses, driving the adoption of gas detection solutions.
With the growth of the oil and gas industry, portable and robust gas detection equipment has become more essential, especially for remote operations. Such environments require these tools to identify and mitigate hazards.
Environmental monitoring is also becoming increasingly prominent to detect and mitigate pollution and climate change caused by gas emissions. The monitoring and control of emissions in various industries is enabled by gas detection equipment.
Gas detection equipment growth is attributed to government initiatives to promote occupational health and safety standards. Due to globalization and safety standards becoming increasingly common, various regions are adopting gas detection equipment.
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Global Gas Detection Equipment Market: Regional Landscape
Gas detection equipment demand is expected to increase in North America. Demand is expected to be driven by the United States and Canada in the coming years. Environmental protection and workplace safety are highly valued in the United States.
Gas detection equipment is required by both OSHA and the EPA, driving market growth across various industries. Industries like oil and gas, manufacturing, and construction also increase demand for gas detection equipment.
- In October 2023, Honeywell introduced its new H2S-XLT hydrogen sulfide detector. The detector can detect Hydrogen sulfide levels as low as one part per million (ppm) in hazardous conditions.
- In September 2023, Siemens unveiled its new SiHy-Detect Hydrogen Detector, designed for industrial use and capable of detecting hydrogen levels as low as 10 parts per million.
Global Gas Detection Equipment Market: Segmentation
- Product Type
- Fixed Gas Detection
- Portable Gas Detection
- Gas Type
- Single Gas Detection
- Multi-gas Detection
- Industry Vertical
- Oil & Gas
- Chemicals & Specialty Chemicals
- Water Treatment
- Emergency Services
- Building Automation & Construction
- Food & Beverages
- Power Generation/Utilities
- By Region
- North America
- Asia Pacific
- Middle East & Africa
- South America
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About Transparency Market Research
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