Global Gas Detection Equipment Market Forecasted to Surge at a Significant CAGR of 5.7% during Forecast 2017-2024

Published on : May 31, 2018

Albany, New York, May 31, 2018: The use of gas detectors is a vital safety practice in many industries to protect employees from the presence of hazardous substances. Due to this, the market for gas detection equipment is gaining huge momentum. In order to provide a detailed overview of the market, the analyst has presented a study titled “Gas Detection Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2024”, which has been broadcasted to the wide repository of Market Research Hub (MRH). The study provides useful information and evaluations linked to the current and future market status prospects, along with a prime focus on major regions and key players operating in this market.

Initially, the report begins with a detailed overview of the gas detection equipment along with its market landscape. In the subsequent section, the estimated market size of gas detection equipment for 2017 and forecast for the next nine years. The global market size has been provided in terms of revenue and volume. For a clear understanding of the market, the geographical segmentation is also included in the report which analyzes the scope of the market in different regions including North America, Europe, Asia Pacific, Middle East & Africa and South America.

Key Highlights from the Study

It has been well-identified that gas detection equipment can identify the presence of harmful gases in the environment and raise an alarm to prevent accidents. According to the study findings, the global market for gas detection equipment was worth US$2.6 bn in 2017. Over the period from 2017 to 2024, the market is projected to rise at a CAGR of 5.7% and reach a value of US$3.8 bn by the end of the forecast period.

Geographically, the research finds that severe government regulations for workplace safety in several countries are propelling the market growth of gas detection equipment. North America holds authority in the gas detection equipment market. Besides, increasing uptake in gas exploration projects in the Asia Pacific region offering significant growth opportunities to the market.

An in-depth analysis of the global gas detection equipment market on the basis of product type, technology, end-use, sensor technology has been also offered to the readers. Market estimates for the overall gas detection equipment market provided in this study are based on revenue contribution of each segment over the 2017-2023 forecast period.

At last, the report also features important business strategies adopted by the key players for the development of the gas detection equipment across the globe. At present, key companies functioning in the gas detection equipment market are GE Measurement & Control Solution, Riken Keiki Co. Ltd., Drägerwerk AG & Co., ESP Safety Inc., Troloex Ltd., Siemens AG, Industrial Scientific Corp. MSA Safety Inc., Sensidyne, RAE Systems Inc., Schauenburg Group, Honeywell International Inc., and SE Electronics.

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