The Gas Detection Equipment by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Gas Detection Equipment, The gas
detection equipment market size has grown strongly in recent years. It will
grow from $4.39 billion in 2023 to $4.8 billion in 2024 at a compound annual
growth rate (CAGR) of 9.3%. The growth in the historic period can be
attributed to strong economic growth in emerging markets, rapid
industrialization, and expansion of oil and gas pipelines.
The gas detection equipment market size is expected to see strong growth in the
next few years. It will grow to $6.67 billion in 2028 at a compound annual
growth rate (CAGR) of 8.6%. The growth
in the forecast period can be attributed to growing petrochemical industry,
increasing awareness to reduce greenhouse gas emissions, and supportive
government initiatives. Major trends in the forecast period include
introduction of cloud-based solutions, convergence of iot (internet of things)
and ai (artificial intelligence) in gas detection, partnerships and
collaborations, drone-based gas monitoring, and adoption of laser technology.
Increased demand for natural gas and petroleum is expected to boost the growth
of the gas detection equipment market going forward. Natural gas is a mixture
of hydrocarbon-rich gases, whereas petroleum is a liquid mixture that may be
utilized to make oil, diesel fuel, and a range of other products. As the
world's population continues to grow, the demand for energy sources such as
natural gas and petroleum is also expected to increase. This has led to an
increase in exploration and production activities, which in turn has led to an
increase in the use of gas detection equipment to ensure worker safety. Gas
detection systems are used in the oil and gas industry to detect risks to
workers at work and in the industrial environment. For instance, in April 2023,
according to the report published by the US Energy Information Administration,
a US-based federal statistical system for gathering, processing, and
disseminating energy data, in 2021, oil consumption increased by 5.3 million
barrels per day (b/d). Global liquid fuel consumption climbed by 1.4 million
barrels per day in 2023 and is anticipated to increase by 1.8 million barrels
per day in 2024. Therefore, increased demand for natural gas and petroleum is
driving the growth of the gas detection equipment market.
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The gas detection equipment market covered in this report is segmented –
1) By Product Type: Fixed Gas Detector, Portable Gas Detector
2) By Technology: Semiconductor, Infrared (IR), Laser-Based Detection,
Catalytic, Photoionization Detector (PID), Other Technologies
3) By End-Use: Oil And Gas, Chemicals And Petrochemicals, Water And Wastewater,
Metal And Mining, Utilities, Other End-Uses
Product innovations have emerged as the key trend gaining popularity in the gas
detection equipment market. Major companies operating in the gas detection
equipment market are developing innovative products to strengthen their
position in the market. For instance, in September 2022, Dräger, a German-based
manufacturer of gas detection and analysis systems, launched the Draeger X-am
2800, a mobile gas detector to automatically shares real-time information on
the chemicals that emergency responders are exposed to. The X-am 2800 is
equipped with a newly built CatEX sensor that has been independently dropped
tested at a height of >2m to ensure a strong and resilient construction,
which is crucial in emergency rescue scenarios. With built-in Bluetooth
connectivity, one can send live gas measurements and alarms to Dräger's Gas
Detection Connect cloud service in real time. This gives users secure access to
crucial data at any time and from any location via an internet browser.
The gas detection equipment market report table of contents includes:
1. Executive Summary
2. Gas
Detection Equipment Market Characteristics
3. Gas
Detection Equipment Market Trends And Strategies
4. Gas
Detection Equipment Market - Macro Economic Scenario
5. Global
Gas Detection Equipment Market Size and Growth
.
32. Global Gas Detection Equipment Market Competitive Benchmarking
33. Global
Gas Detection Equipment Market Competitive Dashboard
34. Key
Mergers And Acquisitions In The Gas Detection Equipment Market
35. Gas
Detection Equipment Market Future Outlook and Potential Analysis
36.
Appendix
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