Gas Detectors Market Targeting Application to Boost Growth by 2027
The global gas detectors market size is expected to grow from USD 2,722.8 million in 2020 to USD 3417.5 million by 2027, at a CAGR of 3.3% from 2021 to 2027. The proliferation of handheld devices has led to increases in the field of the gas detector, which has considerably widened the scope of application across multiple end-user segments. Government regulations across the world are increasingly becoming stringent in both emission control and labor safety, which is driving the demand for gas detectors. The industrial production process involves the use of various gases and shares a considerable share of the overall environmental emissions. The government regulates the leakage of such gases, and this is where the demand for gas detectors is increasing. For instance, the EU incorporated Directive 2010/75/EU, an instrumental regulation controlling pollutant emissions into the atmosphere by industrial installations.
Governments across the world and political bodies are increasingly setting targets to reduce the emission of greenhouse gases. For example, the EU has set itself a goal of net-zero greenhouse gas emissions by 2050. Also, countries such as China, the United States, India, and Russia, are increasingly adopting stringent regulations to tackle emission rates.
Get Full PDF Sample Copy of Report: https://www.marketstatsville.com/request-sample/gas-detectors-market
Moreover, the government regulations for workplace and labor safety are increasingly becoming stringent, and adherence to such rules is vital in business continuity. According to the International Labor Organization (ILO) estimates that 4% of the gross world product is expended on worker accidents, and the percentage increases even further if we take into account the work-related health problems.
Global Gas Detectors Market Dynamics
Drivers: Growing Awareness about Hazards across Major Industries
The growing awareness of toxic and hazardous gas-related dangers in the EFFECT OF EXPOSURE TO CARBON MONOXIDE workplace is also driving the adoption of gas sensors, detectors, and analyzers, especially in the oil and gas, metals and mining industries, and chemicals and petrochemicals. Chemical industries are known to operate with potentially hazardous substances that may react with the environment under special conditions; gas sensors are extensively used to notify emergency systems when the concentration of a particular gas is deemed to exceed permissible limits. Methane is considered more severe in causing global warming. Gas detectors find applications in the laboratory and medical sector, which may use many different flammable and toxic substances, such as Methane, Hydrogen, Carbon Monoxide, Chlorine, Ammonia, etc. Hence, the detectors are highly installed in on-site utility supplies and backup power stations. Machine-intensive industries produce toxic and harmful gases, where these gas sensors play a vital role in protecting plant machinery and ensuring safe demarcation in the layout of these factories.
Restraints: Intense Competition in the Market
The cost of production for gas detectors has been steadily rising due to recent technological changes resulting in intelligent components. While the market incumbents have adapted to these changes, new entrants and mid-range manufacturers face considerable challenges. Increased competition across North America and Europe has led to low product differentiation. Most gas detectors in these markets offer similar capabilities at similar detection ranges, with a similar pricing strategy. While this can lead to high adoption rates among new consumers in the emerging markets, it can also lead to increased price sensitivity and reduced product loyalty. Also, increased competition in the market has made it highly price-sensitive. Competitive advantage can only be attained through innovation and economies of scale, which have only been effective in some variants of gas detectors. Operational issues have also been a restraining factor for market adoption across new end-user segments, where miniaturization has led to the integration of gas detectors among smart applications; however, these devices are yet to be optimized for attaining more extended shelf -life.
Scope of the Report
The study categorizes the gas detectors market based on communication, type of detector, end user, and regions.
By Communication Type Outlook (Thousand Units, Revenue, 2017-2027, USD Million)
- Wired
- Wireless
By Type of Detector Outlook (Thousand Units, Revenue, 2017-2027, USD Million)
- Fixed
- Portable and Transportable
By End User (Thousand Units, Revenue, 2017-2027, USD Million)
- Oil and Gas
- Chemicals and Petrochemicals
- Water and Wastewater
- Metal and Mining
- Utilities
- Other
By Region Outlook (Thousand Units, Revenue, 2017-2027, USD Million)
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
Make an Enquire before Purchase @: https://www.marketstatsville.com/buy-now/gas-detectors-market
Wired segment, by communication type, is projected to account for the largest market share
Based on communication type, the global gas detectors market is divided into wired and wireless. In 2020, wired has a market revenue of 83.3%, accounting for the largest market revenue share in the global gas detector market. Toxic gases, such as carbon monoxide, can be generated by the incomplete combustion of gas heaters at homes, and they are generally undetected. Thus, wired gas detectors are usually deployed for domestic purposes. The wired gas detectors do not get discharged and provide continuous safety. The selection of wired or wireless gas detectors depends on multiple factors, including how often the area is accessed by personnel, location (offsite, onsite), how often testing is needed, site conditions, and budget, among others.
Moreover, research facilities, such as laboratories, universities, and hospitals, adopt different measures to ensure the safety of research staff. Wired detectors are usually used to detect any leakage of toxic gas in these facilities. This is because these detectors work on the power cable, which reduces the usage of batteries. Furthermore, natural gas and crude oil are located deep underground, concealed in rock layers. Many reservoirs are below the sea or under challenging regions to access and are found in extreme climates. Thus, advancements in wired connectivity coupled with increasing computing power are driving the demand for wired gas detectors during the oil and gas procurement process.
Asia Pacific accounts for the highest CAGR during the forecast period
Based on the regions, the global gas detectors market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is the fastest-growing region with a CAGR of 4.4% during the forecast period 2021-2027. Growing industrialization in Asia-Pacific countries, such as China and India, is driving the region’s growth. Additionally, rising safety regulations and stringent policies by the government to ensure the safety of the workers are also contributing to the market’s growth. China issued new workplace safety rules in 2015, including the required facilities to conduct occupational hazard audits and details regarding their safety procedures. China is also experiencing a growing number of accidents. In 2019, an explosion at a pesticide plant in Eastern China killed about 47 people and injured more than 600 people, affecting both the company and the employees.
Request for Complete TOC and Figures & Graphs @ https://www.marketstatsville.com/table-of-content/gas-detectors-market
Additionally, about 44 people were killed in an explosion in a chemical plant in the Eastern Chinese province of Jiangsu. In another massive explosion, which took place at Tianjin, more than 170 people were killed. Increasing fatalities like these draw several organizations’ attention toward advanced gas detectors to ensure high safety standards. China is one of the largest manufacturers of several chemicals and has immense scope for implementing gas detectors across companies involved in producing several high-risk substances. In India, four primary legislatures cover occupational health and safety at the workplace. The laws include The Factories Act (1948), The Mines Act (1952), The Mines Rules (1955), The Dock Workers (Welfare, Safety, and Health), and the Building and Other Construction Workers Act (Regulations of Employment and Conditions of Service) (1996).
Key Market Players
Honeywell International Inc., Drägerwerk AG & Co KgaA, MSA Safety Inc., Emerson Electric Company, SENSIT Technologies, Industrial Scientific Corporation, New Cosmos Electric Co. Ltd, Trolex Ltd, Crowncon Detection Instruments Limited, Hanwei Electronics Group Corporation, International Gas Detectors, and Sensidyne LP are some of the major players in the market. These market players are adopting growth strategies to strengthen their position in the market. Partnerships and product launches are the key growth strategies adopted by different key players in the market.
Recent Developments
- In May 2019, MSA Safety Incorporation announced the acquisition of publicly held company Sierra Monitors Corporation, which specializes in fixed gas and flame detection (FGFD) instruments and Industrial Internet-of-things (IIoT) solutions connect and help protect high-value infrastructure assets for USD 33 million. With this acquisition, the company planned to expand its offering of remote sensing gas detection products.
- In February 2020, SENSIT Technologies announced that Halma had acquired it, a safety, health, and environmental technology market leader. The company may be functioning under Halma’s Process safety group of companies. This acquisition may not interfere with SENSIT Technologies’ day-to-day operations of SENSIT, and the business operations may work as they were in the past.
- In July 2019, Industrial Scientific introduced a new addition to its wireless gas detection portfolio, the RGX Gateway. The RGX provides real-time access to hazard exposures, panic and man-down situations, and exact locations via text, email, or on-screen alerts for improved response and productivity.
- In June 2019, Itron and New Cosmos Collaborated to Improve Gas Safety. They may improve gas safety for utilities with methane detectors from New Cosmos.
Request For Report Analysis@ https://www.marketstatsville.com/gas-detectors-market
