Global Gas Detection Equipment Market: Snapshot
The growing concerns over the safety of employees and the compliance with stringent regulatory guidelines are the key reasons driving the global demand for gas detection equipment. Mining, oil and gas, and manufacturing are the three leading sectors where employee safety from gas-related issues is of paramount importance. This is highlighted in the increasingly strict stand taken by governments in North America and Europe regarding public and worker safety laws and regulations. The effect of these regulations are especially prominent in the oil and gas sector. A large section of these regulations apply to workplaces where there can be an exposure to nitrogen dioxide, hydrogen sulfide, and other similarly toxic gases that can be hard or inefficient to detect by simple human knowledge.
The manufacturers of gas detection equipment are also in a position to earn the benefits of a growing demand for wireless gas detection equipment. This is an especially beneficial addition to any industry’s worker protection repertoire where gases such as ammonia, carbon monoxide, and chloride dioxide are concerned. These gases are highly dangerous when inhaled and employee protection can therefore be strengthened considerably through the use of remote detection and monitoring methods.
However, the intense competition within the global gas detection equipment market is causing equipment prices to drop fast and erode profit margins considerably, thereby restricting the budget allotments to research and development efforts and actually hampering innovative drives.
The global market for gas detection equipment is, as a result of all the above and more, projected at a CAGR of 5.0% from 2014 to 2022. By the end of 2016, this market’s revenue is expected to reach US$2.49 bn and US$3.37 bn by the end of 2022.
North America Safety Regulations Cause Gas Detection Equipment Demand to Soar
The demand for gas detection equipment has already been quite high in North America and is expected to help the region retain its lead in gas detection equipment revenue till 2022. By the end of 2022, the North America gas detection equipment market is expected to have accrued a revenue of US$918 mn. This region holds some of the strongest protective and health safety regulations for workers, thereby significantly promoting the use of safety equipment, including gas detection equipment.
Meanwhile, Asia Pacific is expected to dominate the growth in demand for gas detection equipment till 2022, owing to a massive spur in its industrial growth and the increasing safety regulations adopted by key nations. China with its strong industrial evolution status is expected to lead the Asia Pacific demand for gas detection equipment.
Industrial Sector Tops Gas Detector Demand, Gains More Market Value in it
The industrial sector is subject to a constantly increasing stringency of regulatory frameworks dedicated to company and worker safety. This is the key reason for the dominant demand shown by the industrial sector for gas detection equipment. This factor has been more applicable to developed economies where agencies such as OSHA and acts such as the HSWA are in effect. These are primary pieces of the demand for safety equipment in North America and Europe.
Emerging economies are currently showing a rapidly growing rate of awareness towards worker safety and health care, thereby creating a wide scope for prominent gas detection equipment manufacturers to enter these regions.
The imposition of gas detection equipment also benefits the growing need for industries to become eco-friendly and curb emissions.
The key manufacturers of gas detection equipment include Drägerwerk AG, Industrial Scientific Corporation, Siemens AG, Honeywell Analytics, and Trolex Ltd.
- Fixed Gas Detection Equipment
- Portable Gas Detection Equipment
- Toxic Gas Detection
- Combustible Gas Detection
- Oil & Gas
- Building Automation
- Others (R&D labs, Educational, and Pharmaceuticals, etc.)
- North America
- Middle East and Africa (MEA)
- Latin America