Gas Utility Monitoring System Market: Introduction
- Gas utility monitoring system helps manage and monitor gas utilities. These equipment are essential as they consume electricity at a rapid pace. The utility management system focuses on reducing consumption and increasing reliability on electric equipment. A gas monitoring system is used to monitor an area for the presence of harmful gases. It can be a portable monitoring systems or fixed monitoring systems. Portable gas monitors are frequently connected to alarm systems, and they are used to protect or alert users from both toxic gas and combustible gas.
Key Drivers of Global Gas Utility Monitoring System Market
- According to the Environmental Protection Agency, almost 1.3 million underground storage tanks are unregulated in the U.S. The American Petroleum Institute estimates storage tanks to be about 700,000. Tanks can leak, spill, or overflow irrespective of whether they have saltwater, condensate liquids, or oil. When this occurs, tank owners need to have an environmental and social responsibility to correct the damage, and they could incur regulatory fines. Both below-and-above-ground tanks can be monitored remotely to prevent these expense issues. Level sensors linked to equipment can indicate when the tank contents have reached a high level and require emptying. These sensors can also be useful to detect probable leaks and corrosion when unexplained low levels are pinpointed. This is majorly boosting the gas utility monitoring system market across the globe.
- Increasing population across the globe along with rising residential construction is a major factor boosting the gas utility monitoring system market globally. Monitoring systems consist of individual point gas monitors spread throughout medium to large industrial facilities. These are designed to monitor large areas night and day, designed and certified to be explosion-proof. Monitors provide highly accurate and timely readings. Additionally, these systems can also function accurately in adverse weather conditions or harsh work environments where humidity, dust, and extreme temperatures may be present.
Factor Restraining Global Gas Utility Monitoring System Market
- High capital required for initial investment can hinder small- and medium-scale businesses from investing in the equipment and consequently, hamper the gas utility monitoring system market
Market in Asia Pacific to Expand Rapidly
- In terms of geography, the global gas utility monitoring system market can be divided into five regions North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the gas utility monitoring system market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the gas utility monitoring system market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America gas utility monitoring system market is segmented into Brazil, and Rest of South America.
- North America accounted for a prominent share of the global gas utility monitoring system market due to the presence of a large commercial sector and expansion of oil & gas infrastructure in the region. Increasing industrial infrastructure and expansion of the commercial sector are propelling the demand for new gas pipelines, which has increased increasing integration of gas utility monitoring systems and consequently fueled the gas utility monitoring system market in North America.
- The gas utility monitoring system market in Asia Pacific is projected to expand at a rapid pace during the forecast period due to expansion of construction of residential and commercial sector. Moreover, increasing population in countries such as China and India, along with the construction of new pipelines, are estimated to propel the demand for pipeline monitoring system. This, in turn, is likely to propel the gas utility monitoring system market in the region.
Key Players Operating in Global Gas Utility Monitoring System Market
Companies operating in the gas utility monitoring system market are focusing on becoming more proficient and the development of products with advanced technologies, which is estimated to enhance their competitive advantage and consolidate their market share globally. Companies are emphasizing on the innovations and the development of cost effective and efficient gas utility monitoring systems that boost the global sale of gas utility monitoring system products. High competition among competitors is the major challenge, hence they are strategizing towards partnerships, agreements, acquisitions to expand their presence in the market.
A few of the key players operating in the global gas utility monitoring system market are:
- Aclara Technologies
- Honeywell International Inc.
- Global Detection Systems Corp
- High Tide Technologies, LLC.
- Ellab Monitoring Solutions Ltd.
- LUMEL S.A.
Global Gas Utility Monitoring System Market: Research Scope
Global Gas Utility Monitoring System Market, by Equipment Type
- Fixed-area monitoring systems
- Open-path area monitoring systems
- Portable gas monitors
- Disposable gas monitors
Global Gas Utility Monitoring System Market, by End-use
Global Gas Utility Monitoring System Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report on the global gas utility monitoring system market is a compilation of firsthand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
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