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A recently published by Research Nester on “Gas Leak Detector Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the Gas Leak Detector Market in terms of market segmentation by product type, by technology, by applications and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
The gas leak detector market is segmented by product type, technology, applications and region. Based on product type, the market is segmented into portable gas detectors and fixed gas detectors. Based on technology, the market is segmented into electrochemical, infrared imaging, infrared point, ultrasonic, semiconductor and holographic.
Further, by applications, the market is segmented into residential, commercial establishment and industrial application. The gas leak detector market is anticipated to record a CAGR of around 6.5% during the forecast period i.e. 2019-2027. The market is segmented by applications, out of which, the industrial application segment is anticipated to have significant growth on account of its widely accepted applications in different industries such as gas turbines, building and construction, healthcare, food and beverages, water treatment, oil and gas refineries, chemical plants etc.
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Escalating awareness about the hazards of gas leaks and safety measures
Oil refineries, processing plants, pipelines, storage farms, LPG/LNG plants, and offshore platforms all utilize or produce a wide range of hazardous, combustible and toxic gases. The processes involved in each of them can produce non-toxic gases, which when accumulated in high concentrations depletes oxygen causing a hazardous condition to personnel who occupy the area without proper protection.
There are several hazardous gases that are the product of mining and mineral processing such as methane (CH4), carbon monoxide (CO), hydrogen sulphide (H2S) and hydrogen cyanide (H2CN) which require continuous monitoring.
The incidences of gas leaks leading to explosions has increased the need to adopt gas leak detectors across work intensive industries such as manufacturing, mining, oil & gas. Increasing awareness about the hazards of gas leaks and safety measures is expected to boost the growth of the gas leak detector market .
Ever growing oil and gas industry
Oil & gas industry observes prominent growth which helps all the related industries to grow at a continuous pace. With an increase in oil and gas extraction activities, the threat of emission of several hazardous gases, which if leaked can be dangerous for the workers working in that particular area resulting in the requirement for proper gas leak detectors which is expected to boost the market growth.
This report also provides the existing competitive scenario of some of the key players of the Gas Leak Detector Market which includes company profiling of City Technologies Ltd., Honeywell International Incorporation, Mine Safety Appliances Company, Testo AG.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Gas Leak Detector Market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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