Advancements in technologies have led to rapid detection and measurement or monitoring of chemical agents. The key objective is to any prevent any incidents arising due to presence of hazardous material (Hazmat), and has become a key approach in managing the risks of chemical warfare. The chemical detection equipment market has benefitted from the rise in demand for range of technologies in industrial and civilian use.
Industrial facilities have been using the equipment in the detection chemical agents (CA), toxic industrial chemicals (TIC), and toxic industrial materials (TIM). A triggering point was the vast collateral damage that Bhopal gas tragedy caused. Numerous infrastructural facilities need constant monitoring of chemicals that may lead to accidents, whether of terrorist or non-terrorist origin. Thus the chemical detection equipment market has evolved on the back of the deployment of equipment in range of commercial application. Airports, nuclear power plants, chemical producing facilities, and water distribution facilities are some of the crucial infrastructure that need protection from damage from chemical agents.
The drive for chemical detection equipment market has come from the worldwide need for systems for preventing chemical warfare. Over the decades, there has been rise in terrorist activities. This is a key trend boosting the uptake of chemical monitoring systems, such as in defense sector. Governments’ efforts to adopt a proactive approach in the monitoring of chemical plants and industries to prevent chemical accidents have fueled the prospect in the chemical detection equipment market.
The need for ensuring public safety in critical infrastructure facilities has also boosted the demand. In recent years, chemical detection equipment’s use has gathered considerable steam in nuclear power plant and chemical production facilities. Several industrial facilities are also witnessing rise in use of these equipment since these need to comply with safety regulations. The facilities are engaged in the production of hazardous materials. Governments are constantly updating the regulations to meet the latest safety norms, which has bolstered the growth avenues for players in the chemical detection equipment market.
The chemical detection equipment market is thronged by manufacturers and industry stakeholders who lean on offering simple-to-use, effective to meet the stated use, and cost-effective technologies to end-use industries. Numerous players have invested in research and development of portable chemical detection equipment. Spending on equipping the devices with infrared technology & Raman spectroscopy has proven to impart them competitive gains. Numerous players have consolidated their distribution chains in order to garner a high share in the chemical detection equipment market. Companies with prominent market presence are leaning on research and development to improve civilian medical response in the case of incidents due to Hazmat.
Some of the key players in the chemical detection equipment market are Bioquell Plc, Environics Oy, Federal Resources, General Dynamics Corporation, Bruker Corporation, Chemring Group Plc, Thermo Fisher Scientific Inc., and Smiths Group Plc.
On the regional front, the global chemical detection equipment market has been seeing revenue streams in North America. The regional market has seen new revenue streams on the back of substantial technological developments in chemical detection technologies. The U.S. for instance has seen rise in research and development funding on advancing the detection and monitoring technologies. The regional market has also seen new avenues from the framing of strict regulations pertaining to public safety in industrial facilities.
Some of the other regions contributing revenue potential to the global chemical detection equipment market are the Middle East and Africa, Asia Pacific, Europe, and Latin America.
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