Gas Detection System Market Size Business Growth Statistics ...| MENAFN.COM

Monday, 30 January 2023 12:02 GMT

Gas Detection System Market Size Business Growth Statistics And Key Players Insights 2023-2033

(MENAFN- America News Hour)

Market Overview
The gas detection system market is expected to register a CAGR of 8.64% during the forecast period The oil and gas sector is one of the major industries which is expected to invest significantly in the adoption of detectors and sensors, as the industry is expected to increase its investments in digital technologies.
– The rising concerns about personnel and plant safety are the key market drivers for the adoption of gas detection systems. In addition, safety awareness is on the rise among various end users, owing to the increased number of fatal accidents and gas explosions and leakages.
– Globally, from the last few years, the adoption of gas detection equipment has increased throughout owing to stringent government regulations and security standards and environmental safety regulations implemented across different applications.
– The technical issues pertaining to the new technologies are expected to restrain the market growth of the gas detection systems.

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Scope of the Report
The gas detection system includes products of safety technology and is used preferably to protect workers and to ensure plant safety. Gas detection systems are dedicated to detect dangerous gas concentrations, to trigger alarms and to activate countermeasures, before it can come to a hazardous situation for employees, assets, and environment.
Key Market Trends
Oil and Gas Sector to Have a Major Market Share

– The processes involved in oil and gas application produces non-toxic gases, which when accumulated in high concentrations, depletes the oxygen causing a hazardous condition to personnel end users who occupy the area, without having proper protection.
– Depletion of oxygen is hazardous to individuals entering any unoccupied areas, whereas even small concentrations of harmful toxic gases can lead to serious health implications (even death) for any personnel entering an unoccupied area where they are present.
– The old technologies like handheld/personal detectors monitors do not have the ability to detect the concentrations of combustible gases in unoccupied areas that are hazardous to personnel, equipment, and the facilities themselves. Oil refineries, pipelines, LPG/LNG plants, storage farms, and offshore platforms all utilize a wide range of hazardous combustible and toxic gases.
– The recent low crude oil prices have significantly increased the demand for the expansion of existing refineries and inception of new projects. Moreover, a series of successful licensing rounds and promising finds have sent a wave of optimism across the industry. The oil and gas industry has invested heavily in the research and development in order to have a grip on the latest emerging technologies.
Europe is Expected to Have a Significant Market Share
– Considerable activity in the downstream oil and gas sector and high industrial activity in the region are two of the most prominent drivers for the gas detection systems market in Europe.
– According to the latest oil and gas workforce report published by Oil and Gas UK, there are just 3032 active drillers in the country. The shallow talent pool has made it complicated for oil and gas companies to hire new employees with the same technical skills of experienced labor. Hence, the demand for automated gas detection systems, especially fixed systems, is comparatively higher in the region.
– There has been a considerable exploration activity in countries, such as the United Kingdom that has led to crucial discoveries, such as Glendronach (by Total). It is estimated that Glendronach is the fifth largest conventional natural gas reserve discovery on the UK continental shelf in the millennium.
– The region, especially Germany, is also investing in technologies to handle its methane leaking cases. The European Space Agency is also working on Greenhouse Gas–Detecting Satellites. It also launched a satellite called TROPOMI in collaboration with other companies.

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Competitive Landscape
Over the past few years, the gas detection system market has witnessed an increase in the number of mergers and acquisitions (M&As), as well as in product innovation in order to gain a competitive advantage. This trend is likely to continue in the future, thereby consolidating market participants.
– October 2018 – NevadaNano announced the release of a new MPS Flammable Gas Sensor, which is the first gas sensor of its type that is able to accurately quantify, detect, and classify a broad array of explosive or flammable gases, using a single calibration.
– March 2018 – Drägerwerk AG & Co. KGaA launched a new series of personal single-gas monitors Pac 6000, 6500, 8000 and 8500. The monitors detect not only the standard gases carbon monoxide (CO), hydrogen sulfide (H2S), sulfur dioxide (SO2) and oxygen (O2) (Pac 6000 and 6500), but also special gases such as ozone, phosgene and nitrogen dioxide (Pac 8000 and 8500).

1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increased Demand for Oil and Gas in Developing Economies
4.3.2 Highly Featured Products Available in the Market
4.3.3 Increasing Safety Regulations in Industries
4.4 Market Restraints
4.4.1 Technical Issues and Environmental Conditions
4.5 Industry Attractiveness – Porter's Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry

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