Gas Detection Equipment Market Analysis:
The Global Gas Detection Equipment Market is anticipated to develop at a healthy CAGR between 2020- 2030 states the recent Market Research Future (MRFR) analysis. Gas detection equipment or gas detectors are key components that help in reducing the risks associated with hazardous gases in the industrial, commercial, and household sectors. It is broadly categorized into portable and fixed gas detectors. The gas detection technology is of two types- single and multi-gas monitors. The multi-gas detector inventory comprises different models to help choose the combination of target gases to suit the application.
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Leading players profiled in the global gas detection equipment market report include Sensor Electronics (US), Thermo Fisher Scientific Inc. (US), Emerson Electric Co. (US), General Electric Company (US), Honeywell International (US), Siemens AG (Germany), MSA (US), Drägerwerk AG & Co. KGaA (Germany), Industrial Scientific (US), and RKI Instruments, Inc. (RKI) (US).
Various factors are propelling the global gas detection equipment market share. As per the current MRFR report, such factors include a rising preference for wireless detectors, escalating investment in R&D activities, and increasing awareness about worker safety in various manufacturing units like refining, mining, medical, oil and gas, and others.
On the contrary, the high price of portable gas detection equipment, lack of awareness amid SMEs, and the COVID-19 impact are factors that may limit the global gas detection equipment market growth over the forecast period.
The MRFR report provides an inclusive segmental analysis of the gas detection equipment market report based on end use, technology, and products.
By product, the gas detection equipment market is segmented into portable gas system and fixed gas system. Of these, the fixed gas detection equipment market is predicted to lead the market over the forecast period followed by portable gas detection segment.
By technology, the global gas detection equipment market is segmented into multi-gas detection and single-gas detection. Of these, the single-gas detection segment will dominate the market over the forecast period.
By end use segment, the global gas detection equipment market is categorized into industrial, household, and commercial sectors. The industrial segment is again segmented into water treatment, mining, semiconductors, oil and gas, chemicals and specialty chemicals, and others. Among these, the oil and gas segment will have a major share in the market over the forecast period.
Based on the region, the global gas detection equipment industry report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, the APAC region will have the lions share in the market over the forecast period. A surge in Greenfield projects, adoption of international safety practices and standards, and increasing investments in various end use industries such as oil and gas, steel, power, petrochemical, chemical sectors are adding to the global gas detection equipment market growth in the region. India, Philippines, and China have the maximum share in the market as they are hopeful of doubling the gas consumption for reducing the import dependence that is adding market growth.
The Gas Detection Equipment industry in North America is predicted to have a healthy growth over the forecast period. Strict government regulations for safety in the workplace in several countries of the region, mounting demand for gas detection equipment in the oil & gas industry, improved infrastructural developments, technological advances in extraction, and increasing production of shale gas is adding to the global gas detection equipment market growth in this region. The United States possesses the maximum share in the market.
The global gas detection equipment market in Europe is predicted to have notable growth over the forecast period.
The gas detection equipment market in the MEA is predicted to have a moderate share over the forecast period in support of growing measures needed for a safer workplace.
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About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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