Global Wireless Gas Detection Market: Overview
The need for continuous and real-time monitoring of gas emission in mines, tunnels, and industrial plants and facilities has propelled the demand for wireless gas detection. The growing demand for wireless framework of the gas detectors is attributed to the ease of deployments in various hazardous conditions such as those faced by military and security personnel. The advent of flexible and scalable wireless gas detection system offers a through multi-point monitoring of toxic gases across a facility or plant. This is bolstering the demand for wireless gas detection system. The stricter implementation of regulations pertaining to workers’ safety in several manufacturing industries, coupled with the need for mitigating risks, has boosted the deployment of wireless gas detection systems in several developing and developed nations. The development of intuitive and user-friendly solutions in wireless gas detection is contributing to its growth in various regions.
The global wireless gas detection market is forecast to rise at a CAGR of 9.4% during the period 2017–2022. Expanding at this pace, the market estimated with worth US$1,130.8 Mn in 2017 is anticipated to reach US$1,771.4 Mn by the end of the forecast period.
Others Product Type Market Segment to Grow at Leading Revenue Annually
On the basis of product type, the wireless gas detection market is segmented into oxygen, carbon dioxide, carbon monoxide, nitrogen oxide, and others. Among these, the other segment hold the major revenue in the market currently. The segment is anticipated to rise from a valuation of US$ 371.2 Mn in 2017 to US$ 493.1 Mn by 2022 end. This will represent an incremental decline in share from 32.8% in 2017 to 30.1% by the end of the forecast period. The segment is expected to expand at a CAGR of 5.8% from 2017 to 2022. This represents an estimated growth of US$ 24.4 Mn annually during the forecast timeline.
North America Expected to be Leading Contributor of Global Revenue
Regionally, North America leads the market vis-à-vis revenue. The regional market is projected to rise from US$ 302.6 Mn in 2017 to reach a valuation of US$ 470.6 Mn by 2022 end. This accounts for a CAGR of 9.2% from 2017 to 2022. The growth is primarily driven by the wide demand for wireless gas detection system for real-time monitoring of gases in various end-use industries. Substantial advancements in communication technologies used in wireless systems such as Wi-Fi and Bluetooth also augurs well for the regional market.
Meanwhile, Europe is predicted to be a prominent market for wireless gas detection as it will create an absolute opportunity of US$128.4 Mn during the forecast period.
Asia Pacific expect Japan (APEJ) Market to Rise at Substantial Pace
The APEJ market is predicted to expand at a significant growth rate during the forecast period. Rising at a CAGR of 10.3% during 2017–2022, this regional market is expected to be worth US$ 358.2 Mn by the end of the forecast period.
On the other hand, the Middle East and Africa (MEA) market for wireless gas detection is likely to lose some share in the coming years. The regional market is anticipated to lose 35 BPS in the share from 2017 to 2022. The MEA is estimated to rise at a CAGR of for 8.7% during the forecast timeline.
Prominent players operating in the wireless gas detection market are Honeywell International, Inc., Drägerwerk AG & Co. KGaA, Agilent Technologies, Inc., R.C. Systems Co. Inc., Sensidyne, LP, Airtest Technologies Inc., United Electric Controls, Crowcon Detection Instruments Ltd., Pem-Tech Inc., and Otis Instruments Inc. Several companies are focusing on offering user-friendly, intuitive, and scalable solutions for multi-point gas detection in application areas such as oil and gas, chemical and petrochemicals, government and military, mining and metals.
Global Wireless Gas Detection Market: Snapshot
The research on the global wireless gas detection market provides an incisive analysis of key factors and current trends shaping the dynamics. The report offers a comprehensive overview of supply chain structure, pricing and cost analysis, raw material sourcing strategies, profile of distributors and vendors. It further offers shares of various segments based on product, application, technology and end user and analyzes the size of various regional markets. The study evaluates various trends broadly influencing the evolution of prominent segments in various regions. The insights offered in the study help market participants reliably assess the competitive dynamics in the coming years and help them in impactful strategy formulation. Recent developments and emerging opportunities in various regional markets help in identifying lucrative avenue over the forecast period (2017 -2022).
The global wireless gas detection market is projected to grow from US$1,130.8 Mn in 2017 to reach US$1,771.4 Mn by 2022 end. The market is projected to expand at a CAGR of 9.4% from 2017 to 2022.
Global Wireless Gas Detection Market: Dynamics
The report offers in-depth insights into key driving and restraining factors, notable trends and prominent opportunities, recent technological advancements, and competitive landscape. The study tales a closer look at emerging demand in end-use industries and the measures taken by developers and distributors to boost their offerings. The rising preference of wireless gas detection system for constant monitoring of gas emission across industrial facilities and plants is the key factor driving the evolution of the market. The rising demand for real-time detection of toxic and flammable gases across various end-use industries such as oil and gas, chemical and petrochemicals, government and military, and mining and metals is a key factor boosting the market.
The growing popularity of wireless platform-based gas detection system compared to fix and hybrid ones is attributed to several factors. Wireless gas detection systems are characterized by their ease of deployment and flexibility. This is a key factor expected to bolster its uptake in the coming years. In addition, the installation is cost-effective and enables end users scalability in operations. The mounting security concerns related to wireless communication and the lack of proper connectivity in various regions are the key factors likely to hinder the demand for wireless gas detection system to an extent. Nevertheless, the growing adoption of Industrial Internet of Things (IIoT) technologies in various manufacturing industries in developing and developed regions is likely to catalyze the wireless gas detection market over the forecast period.
Global Wireless Gas Market: Segmentation
The report offers a detailed segmentation of the wireless gas market and elaborately assesses the factors influencing the growth trajectory of each segment. The research analyzes share and size of prominent segments along the historical period (2012–2017) and offers their year-over-year growth for a granular overview of the market. Revenue held by various segments and factors boosting the prominent segments are analyzed in the study.
The report segments the global wireless gas detection market on the basis of product type, end user, application, technology, and region. The various segments based on product type are oxygen, carbon dioxide, carbon monoxide, nitrogen oxide, and others. Of these, the other segment holds the major revenue share in 2017, estimated to be valued at US$ 371.2 Mn and is projected to expand annually by US$ 24.4 Mn during the course of the forecast period.
Based on application, the report segments the market into oil and gas, chemical and petrochemicals, government and military, mining and metals, and others. Based on technology, the various technologies covered are Wi-Fi, cellular, Bluetooth, and license-free ISM band.
The major regional markets are North America, Latin America, Middle East and Africa, Europe, APEJ, and Japan. Of these, North America currently holds the major share of the market vis-à-vis revenue and is projected to maintain its dominance. The regional market is projected to reach a valuation of US$ 470.6 Mn in 2022, expanding at a CAGR of 9.2% during 2017 to 2022.
Companies profiled in the report are:
The report offers an extensive profiling of various distributors and manufacturers and analyzes the strategies adopted by them to consolidate their positions. Leading players operating in the market include Honeywell International, Inc., Drägerwerk AG & Co. KGaA, Agilent Technologies, Inc., R.C. Systems Co. Inc., Sensidyne, LP, Airtest Technologies Inc., United Electric Controls, Crowcon Detection Instruments Ltd., Pem-Tech Inc., and Otis Instruments Inc.