The Global Gas Detection Equipment Market size is expected to reach $8 billion by 2026, rising at a market growth of 11. 8% CAGR during the forecast period. The equipments that are used to lower down the risk regarding harmful gases in commercial, household, and industrial sectors are known as Gas detection equipment.
New York, April 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Gas Detection Equipment Market By Product, By Technology, By End User, By Region, Industry Analysis and Forecast, 2020 - 2026" - https://www.reportlinker.com/p06064803/?utm_source=GNW
This equipment is used as a safety measure in case of emergency process shutdown and fire detection, which fall under the integrated monitoring and safety systems. Moreover, using gas detection equipment, one can get more time to react and take actions to stop gas leakage. The equipment finds potential application in different units such as laboratories, refineries, car parks, refrigeration plants, boiler plant rooms, plant constructions, automotive industry, and power plants.
The market is going to witness new growth avenues due to the rising investment for plant safety in manufacturing plants. Gas detection equipments are widely used in chemical industries because they help in testing the density of a gas chamber. Further, the market growth is boosted by the increasing relevance of gaseous components in wastewater treatment. It is highly important to use these equipments in harmful chemicals and gas manufacturing plants in order to prevent loss of life and property. Thus, gas detection equipments are majorly installed in the premises of these manufacturing plants.
The demand of the market is fueling due to the growing awareness of companies towards maintaining work safety for the workers. The key players of the gas detection equipment market are estimated to take advantage of the booming oil and gas sector. The utilization of gas detection equipment will increase with the rising investments of the industrial sector in cutting-edge technologies.
Based on Product, the market is segmented into Fixed Gas Detector and Portable Gas Detector. The fixed gas detectors market segment emerged as the leading segment in 2019 with the highest revenue share. These systems are implemented in order to offer personnel safety and plant protection. Fixed gas detectors are developed to track multi or single hazardous gases in safe zones. The demand for these detectors is high, owing to the growing applications of these sensors in the pharmaceuticals, food, and beverage, and oil and gas industry.
Based on Technology, the market is segmented into Infrared (IR), Laser-based Detection, Photoionization Detector (PID), Semiconductor, Catalytic and Others. By technology, the infrared gas detection technology market segment acquired the highest revenue share of the market in 2019. Infrared gas detectors can function in an environment which has low oxygen level and high oxygen level. These equipments are utilized to detect hydrocarbon gas with infrared gas detection technology. They have an optical filter and source of infrared light utilized to choose the appropriate wavelength. These detectors can be utilized in air cleaners and air purifiers to regulate air pollutants.
End User Outlook
Based on End User, the market is segmented into Industrial, Building Automation & Domestic Appliances, Petrochemical, Medical, Environmental, Automotive and Others. The petrochemical market segment would display the fastest growth during the forecast period. The growth of the segment is attributed to the rising usage of gas detection equipments for tracking harmful gases in processing plants, pipelines, oil refineries, and LPG/LNG plants. There can be serious consequences of gas leakage in the petrochemical industry; therefore, these industries have a high requirement for gas detection equipment. Simultaneously, the increasing exploration of shale gases is another aspect that surges the demand for these equipments in the natural gas and petroleum sector.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America would register substantial growth during the forecast period. The growth of the regional market is attributed to the presence of a big oil & gas pipeline network and oil & gas refineries in nations like the U.S. and Canada. In addition, the growth of regional market is further boosted by the rising requirements for maintaining the safety & security of workers, who are consistently exposed to harmful gases. The increasing need for avoiding any kind of gas leakage accidents is among the prime factors that spur the growth of the market.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Siemens AG, General Electric (GE) Co., Honeywell International, Inc., Thermo Fisher Scientific, Inc. are the forerunners in the Gas Detection Equipment Market. Companies such as Fortive Corporation, MSA Safety Incorporated, RKI Instruments, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fortive Corporation (Industrial Scientific), Dragerwerk AG & Co. KGaA, Siemens AG, Honeywell International, Inc., General Electric (GE) Co., Emerson Electric Co., Thermo Fisher Scientific, Inc., MSA Safety Incorporated, RKI Instruments, Inc., and Sensor Electronics Corporation.
Recent strategies deployed in Gas Detection Equipment Market
Partnerships, Collaborations, and Agreements:
Jun-2019: MSA partnered with Yokogawa Australia Pty. Ltd., supplier of automation solutions and process control instrumentation. Under this partnership, MSA strengthens Yokogawa’s position as leading providers of process safety solutions and distributes its range of fixed flame and gas detection in Australia and New Zealand.
Acquisition and Mergers:
Dec-2019: Honeywell completed the acquisition of Rebellion Photonics, a Houston-based provider of innovative, intelligent, visual gas monitoring solutions. Under this acquisition, Rebellion became a part of Honeywell’s Safety and Productivity Solutions business that offers a broad range of gas detection technologies, mobility solutions, safety gear, and software to assist workers to stay safe and productive.
Jul-2019: Industrial Scientific completed the acquisition of SAFER Systems, a global technology leader in chemical emergency management solutions. This acquisition added SAFER Systems’ capabilities in risk analysis and assessment to Industrial Scientific’s main functionality in linked sensing and predictive analytics to provide impactful solutions all over the customers and industries.
Jun-2019: Industrial Scientific signed an agreement to acquire Intelex Technologies. Under this acquisition, the companies bring together Industrial Scientific’s strength in connected sensing and predictive analytics with Intelex’s industry-leading program, workforce, and asset management capabilities that give the great EHSQ performance.
May-2019: MSA acquired Sierra Monitor Corporation, provider of electronic safety and environmental instrumentation. This acquisition enabled MSA to boost its strategy to improve worker security and accountability by using cloud technology and wireless connectivity, which is a key focus of the company’s recently established Safety ioTM subsidiary.
Product Launches and Product Expansions:
Oct-2020: Honeywell introduced a new gas detection solution, Vertex Edge. It enables workers to faster calculate the gas readings, event logs, alarms, real-time trends, and whole system status. It also consists of an easy-to-use touchscreen, which features big display icons that helps in easy navigation.
Apr-2020: MSA unveiled TG5000 Gas Monitor. It detects oxygen, combustible and harmful gases in a variety of light industrial applications. The TG5000 Monitor can manage on a complete stand-alone basis with its huge LCD, and four relay outputs, or can be linked with a 4-20 mA output to a control system.
Jul-2019: Industrial Scientific unveiled the RGX Gateway in additional geographies outside the US and Canada. This launch allows developed security contacts to get real-time alerts for panic, gas hazards, and man-down situations happening in-plant or in the field. The live map displays the location of workers and current conditions, enhancing the reaction times and arming emergency personnel with important information.
May-2019: RKI Instruments launched the GX-3R and the GX-3R Pro personal gas monitors suitable for small spaces. The GX-3R is a 4 gas monitor, at the same time the GX-3R Pro can detect five gas types separately. By utilizing an RK Link app, the GX-3R Pro can be connected with a smartphone through Bluetooth and could build to automatically send notifications including alarm status and GPS location at times when a worker goes into alarm.
Jun-2018: Honeywell unveiled a new connected gas detector, Searchzone Sonik. This detector complements fixed gas detectors to better safeguard workers and facilities against dangerous & toxic and explosive gas leaks. Searchzone Sonik consists of an ultrasonic test tool to assist select a proper location for the sensor and an easy-to-use mobile app for simplified installation, operation, and service from the security of ground level.
Scope of the Study
Market Segments covered in the Report:
• Fixed Gas Detector
• Portable Gas Detector
• Infrared (IR)
• Laser-based Detection
• Photoionization Detector (PID)
By End User
• Building Automation & Domestic Appliances
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Fortive Corporation (Industrial Scientific)
• Dragerwerk AG & Co. KGaA
• Siemens AG
• Honeywell International, Inc.
• General Electric (GE) Co.
• Emerson Electric Co.
• Thermo Fisher Scientific, Inc.
• MSA Safety Incorporated
• RKI Instruments, Inc.
• Sensor Electronics Corporation
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