This report provides exclusive insights into the COVID-19 impact on the Gas Detection Equipment Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Gas Detection Equipment Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Gas Detection Equipment Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on gas
detection equipment market provides in-depth analysis of segments and
sub-segments in global as well as regional gas detection equipment market. The
study also highlights the impact of drivers, restraints and macro indicators on
the global and regional gas detection equipment market over the short term as
well as long term. The report is a comprehensive presentation of trends,
forecast and dollar values of global gas detection equipment market. According
to the report the global gas detection equipment market is projected to grow at a
CAGR of 5.4% over the forecast period of 2018-2024.
A gas detector is a device that
detects the presence of gas in the specific area as a part of the safety system.
Gas detection equipment is mainly used to detect a gas leak with a control system
so the process of gas detection can be automatically shut down. These detectors
use wireless technology such as Bluetooth, Wi-Fi, Wi-MAX, and ZigBee to connect
to a smartphone, tablet, or desktops. The basic principle of this equipment is
to identify the presence of harmful gases in the environment and raise an alarm
to prevent accidents. In addition, gas detectors are mostly battery operated
devices and are found in commercial spaces for safety purpose. Applications can
be found in refineries, industrial plants, automobiles, wastewater treatment
facilities, and household activities.
Rising safety concerns in
industrial as well as commercial spaces are the major factors driving the
growth of the gas detection equipment market. In addition, wireless gas
detection systems have also proven themselves in oil and gas applications to
provide increased safety and cost savings in exploration, refining, plant
improvements, and retrofits. This, in turn, is anticipated to drive the gas
detection equipment market over the forecast period. However, the high response
time of the gas detectors with the change in the concentration of the gas and
intense competitive market players are the factors hampering the growth of the
gas detection equipment market over the years to come.
Furthermore, the increase in demand
to detect gases and safety for medical and household sector are anticipated to
provide huge growth opportunities for the key players in the gas detection
equipment market. On the other hand, smart gas detectors are being manufactured
by focusing on the development of innovative wireless technology and rapid
integration of big data and artificial intelligence. For instance, the
application in remote monitoring is Network capable application Processor that
is connected only to sensor smart transducer interface module that can perform the remote process such as to monitor the temperature of a water bath in a chemical
processing plant through the Internet .This, in turn, has opened several doors of
opportunity for the growth of gas detection equipment market over the upcoming
Among the geographies, Asia-Pacific dominated the global gas detection equipment market followed by North
America. The growth in North America is mainly due to government
regulations concerning workplace safety. Moreover, countries like India and
china are anticipated to show a rapid increase in demand owing to the rise in the number of investment in chemical, petrochemical, power, steel and oil & gas
sectors. On the other hand, tremendous infrastructure development is undertaken by developing economies such as the Middle East, India, and Brazil is expected to
drive the gas detection equipment market in the near future.
The prominent players identified
in the gas detection equipment market are Honeywell Analystics, Sierra Monitor
Corporation and General Monitors. In addition, Honeywell Analytics manufactures
a full and comprehensive range of products has set a benchmark for the industry
in terms of quality, functionality, and ease of use.
The report on global gas detection equipment market covers
segments such as sensor type, end use industry, and a power source. On the basis of sensor type, the global gas the detection equipment market is categorized into infrared sensors,
electrochemical sensors, and metal oxide semiconductor (MOS) sensors. On the
basis of end use industry, the global gas detection equipment market is
categorized into oil & gas, water treatment, semiconductors, mining,
building automation and construction and power generation/utilities. On the
basis of power source the global gas detection equipment market is categorized into
battery-powered gas detectors, hardwired gas detectors with backup batteries
and hardwired gas detectors without backup batteries.
The countries covered in the North America region include the
U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India,
South Korea, Malaysia, and among others. Moreover, Germany, U.K., France,
Spain, and Rest of Europe are included in the European region. The U.S. drives
the growth in the North America region as it is the largest market in the
region. The Asia-Pacific region offers a substantial potential for the market
growth owing to rapid growth in markets such as India and China. The APAC
region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global gas
detection equipment market such as Honeywell International Inc, Siemens AG,
Riken Keiki Co. Ltd, SE Electronics, GE Measurement & Control Solution,
Schauenburg Group, RAE Systems Inc, Industrial Scientific Corp, Troloex Ltd and
ESP Safety Inc.
The report provides deep insights on demand forecasts, market
trends, and micro and macro indicators. In addition, this report provides
insights on the factors that are driving and restraining the global gas
detection equipment market. Moreover, IGR-Growth Matrix analysis given in the
report brings an insight on the investment areas that existing or new market
players can consider. The report provides insights into the market using
analytical tools such as Porter's five forces analysis and DRO analysis of gas
detection equipment market. Moreover, the study highlights current market
trends and provides forecast from 2018-2024. We also have highlighted future
trends in the gas detection equipment market that will impact the demand during
the forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players. This
report will help manufacturers, suppliers, and distributors of the gas detection
equipment market to understand the present and future trends in this market and
formulate their strategies accordingly.