Global Portable Gas Detection Equipment Market: Overview
The global market for portable gas detection equipment is expanding on the back of stringent regulations for workplace safety especially in industrial and manufacturing sectors. With product innovation and technological advances newer wireless gas detectors have been developed that can detect poisonous gases and are useful to measure gas concentrations in hard to reach environments. Wireless gas detectors can detect a host of industrial gases such as carbon dioxide and ammonia that are hazardous to health.
With increasing petroleum prices and environmental emission concerns the use of natural gas as an automobile fuel is on the rise. As such, the increasing number of natural gas filling stations is stoking demand for natural gas detector to prevent accidents.
On the flip side, high response time of gas detectors with change in gas concentration and intense competitive rivalry among market players is negatively impacting revenue of the portable gas detection equipment market.
Owing to a number of favorable factors, the global market for portable gas detection equipment market is likely to progress at 4.8% CAGR for the forecast period between 2017 and 2023.
Oil & Portable Gas End-use Segment to Continue to Remain Lucrative
The portable gas detection equipment market is segmented in terms of basis of end use, type, and geography, In terms of end-use, mining, oil & portable gas, building automation, industrial, and others are the segments into which this market is divided. Out of these, oil & portable gas is anticipated to display the leading growth rate over the 2017-2023 forecast period. The Middle East and Africa is anticipated to emerge as an attractive market for portable gas detection equipment. This is due to increasing measures to improve workplace safety in the booming oil and gas industry in the region.
Furthermore, increasing initiatives to replace old and obsolete portable gas detection equipment in the oil and gas industry vertical is also favoring the growth of this market. This is to prevent reoccurrence of large-scale disasters where several people lost their lives due to the inability of old gas detectors to detect gases.
Government regulations to bolster workplace safety and need to install advanced devices is boosting the demand for portable gas detection equipment in the mining sector. Mining operations are subject to fire hazards and explosions that can cause injury to personnel. As per the Bureau of Labor Statistics in the U.S., mining is the second-most dangerous occupation in the country.
Building automation is predicted to emerge as a key end-use segment for portable gas detection equipment. Facility ventilation and air conditioning systems in modern buildings are increasingly being equipped with gas detector to prevent transmission of toxic gases from source areas into non-hazardous areas.
In terms of product type, wearable and non-wearable are the segments into which the portable gas detection equipment market is divided. Of the two, wearable gas detectors hold prominence and is likely to display leading growth in this market in the upcoming years.
Statutes of Workplace Safety Make North America Dominant
On the basis of geography, North America contributed the leading revenue of US$369.9 mn in 2017 among other key regions in the global portable gas detection equipment market. The growth of this region is mainly because of stringent government regulations regarding workplace safety. Europe, Asia Pacific, Latin America, and the Middle East and Africa are other key regions for portable gas detection equipment.
Key names in the global portable gas detection equipment market include RAE Systems Inc., Mine Safety Appliances, Detcon Inc., Trolex Ltd., Crowcon Detection Instruments Ltd., Industrial Scientific Corporation, Honeywell Analytics, and Drägerwerk AG & Co. KGaA.
Global Portable Gas Detection Equipment Market: Overview
The research study on the global portable gas detection equipment market provides strategic analysis of the said market from 2017 to 2023. The report provides growth analysis of various market segments depending upon product type, end-use along with thorough cross sectional analysis across key regional markets of portable gas detection equipment. In order to serve as a strategic decision-making tool, the report comprises business profiling of leading vendors in the portable gas detection equipment industry, recent developments, market positioning, and competitive strategies adopted by them. The value chain analysis provided in the report divulges information on OEMs, manufacturers, and value added resellers. Market competition, market dynamics, and most lucrative segments are other aspects that have been discussed at length in this report. Furthermore the report examines the current and future growth potential of the worldwide portable gas detection equipment market.
Global Portable Gas Detection Equipment Market: Key Insights
The report provides the breakdown and review of various factors influencing the growth of portable gas detection equipment market. These factors look into existing trends and their impact on the market growth. In addition, the report contains a section dedicated to key trends and future outlook of the portable gas detection equipment market. Overall, the report provides a meticulous analysis of the global portable gas detection equipment market and provides growth projections from 2017 to 2023, looking into various factors affecting the market.
Portable Gas Detection Equipment Market: Research Methodology
The report is prepared as a result of an extensive primary and secondary research phase. The primary research phase comprise majority of research efforts along with an extensive secondary research. Analysts reviewed key players’ annual reports, press releases, product literature, and relevant documents for competitive analysis and market know-how. Secondary research also comprised review of industry trade journals, technical writing, internet sources, and statistical data from government websites and university research papers. Secondary sources for the study includes but is not limited to company website sources such as annual reports and SEC filings, stock analyst websites such as seeking alpha and Wikiinvest, and government organizations and public portals.
Primary research comprised e-mail communication, telephonic interviews along with face-to-face interviews to comprehend growth behavior of key segments across geographies. Primary interviews with industry experts is conducted on a regular basis to validate the authenticity of data collected and scrutinized. A typical research interview helps to provide first-hand information on market size, competitive landscape, growth trends, market trends, future outlook, etc. It helps to validate and corroborate secondary research findings, and helps to further enhance analytical and logical understanding of the analysis team.
Industry experts reached out in the making of the report includes but were not limited to CEOs, marketing/product managers, VPs, market intelligence managers, and national sales managers. Purchase managers, distributors and resellers, technical personnel, and key opinion leaders specializing in different areas were also reached out to obtain valuable insights on growth trends in the portable gas detection equipment market.