Study of Gas Detection Equipment Market Reveals Rapid Upsurge and Revenue Estimated to Reach a Value of US$ 5,537.56 Mn by 2026

Published on : Jul 19, 2018

Albany, New York, July 19, 2018: Recently, a freshly compiled study titled “Gas Detection Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026” has been publicized to the online repository of Market Research Hub (MRH), which provides a detailed analysis, underlining the market dynamics that are estimated to determine the growth of the market in the coming few years. The main motive of the study is to provide an in-depth analysis of the current market along with industry growth prospects from 2012 to 2017, and forecast to 2026.

It has been well-identified that adoption of gas detection equipment has increased across the world due to government regulations and environmental safety and security standards implemented in industrial well as commercial spaces. Gas detectors work by demonstrating a high level of gases through a series of audible or visible indicators like alarms. In order to provide a comprehensive view of the market, the study offers market key segments and for each segment, market size, market value in USD and market value share has been offered, across different geographies.

Market Key Highlights

Analysts of the report observed that demand for gas detection equipment is increasing in order to sustain good air quality, detect harmful gases, especially in commercial buildings, and avoid critical incidents or situations. This is expected to drive the gas detection equipment market in the coming years. In terms of revenue, the research estimates that the global gas detection equipment market will reach a value of US$ 5,537.56 Mn by 2026, expanding at a CAGR of 4.7% from 2018 to 2026.

In order to explain the intensity of competition in the market, the report has been segmented geographically into major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Besides, the study has been broadly analyzed on the basis of product type, gas type, technology, and industry vertical. For each segment, the research has presented current as well as future trends. Based on geography, the research stated that the gas detection equipment market in the Asia Pacific is expected to develop at a greater CAGR compared to other regions owing increase in the number of Greenfield projects in the region during the forecast period.

The key product type involved in the study include fixed gas detection system and portable gas detection system. On the basis of gas type, the market is fragmented into oxygen, flammable, and toxic gas. Based on technology, the global gas detection equipment market is segmented into single gas detection equipment and multi-gas detection equipment. Applications covered in the report include emergency services, water treatment, chemicals & specialty chemicals, mining, food & beverages, power, building automation & construction, and others.

Additionally, the vendor landscape section is also provided which throws light on the chief players dominant in this market. They include Thermo Fisher Scientific Inc., Riken Keiki Co., Ltd, ESP Safety Inc., Industrial Scientific Corporation, Siemens AG, Emerson Electric Co., Drägerwerk AG & Co. KGaA, RAE Systems Inc., MSA Safety Incorporated, Tyco International, Honeywell International Inc., General Electric Co., Sensor Electronics, Trolex Ltd, Airtest Technologies and others.

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