December 03, 2020

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New Gas Detection Equipment Market Research Highlights Recovery Path for Businesses from COVID-19 based on Products – Fixed and Portable Products | Technavio

LONDON--(BUSINESS WIRE)--#GasDetectionEquipmentMarket--The new Gas Detection Equipment Market Research from Technavio indicates Neutral and Inferior in the short term as the business impact of COVID-19 spreads. "One of the primary growth drivers for this market is the growing production volume of shale gas,” says a senior analyst for Industrials at Technavio. Owing to the continuous advances in the extraction technologies, the production of shale gas has increased considerably in the US. Similarly, emerging economies, including China, have been contributing to the overall shale gas production significantly in recent years. Also, China has started one of the most significant shale gas projects in the country, named Fuling shale gas project. The rising shale gas production from economies, including the US, Russia, Qatar, Canada, Saudi Arabia, Norway, and others, has further fueled the adoption of gas detection products and solutions. The gas detection equipment is allowing all the stakeholders of several end-user industries to minimize casualties while increasing the safety measures. Consequently, the rapid adoption of shale gas will drive the gas detection equipment market. As the markets recover Technavio expects the gas detection equipment market size to grow by USD 1.06 billion during the period 2020-2024. Get detailed Insights on COVID-19 pandemic Crisis and Recovery analysis of the gas detection equipment market. Download free report sample Gas Detection Equipment Segment Highlights for 2020 The gas detection equipment market is expected to post a year-over-year growth rate of 4.34%. Fixed gas detection equipment dominated the market in 2019. It is mostly adopted in large facilities and is configured using relays and customizable alarm point settings, primarily to ensure that the detectors instantly respond to atmospheric hazards. The demand for fixed detectors is expected to grow, especially from two user end-user segments, which are industrial and commercial sectors due to an increasing number of industries including chemical, petrochemical, textile, food, and biotechnology. These industries require continuous monitoring of gas emissions in areas, including production units, laboratories, and other places. Therefore, the gas detection equipment market share growth by the fixed segment will be significant during the forecast period. Regional Analysis 35% of the growth will originate from the APAC region. APAC was the largest gas detection equipment market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the growing sales of automobiles, thereby increasing the demand for diesel and petrol, will significantly drive gas detection equipment market growth in this region over the forecast period. China and India are the key markets for gas detection equipment in APAC. Market growth in this region will be faster than the growth of the market in other regions. Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business. Notes: The gas detection equipment market size is expected to accelerate at a CAGR of over 5% during the forecast period. The gas detection equipment market is segmented by product (fixed and portable), application (industrial, commercial, and residential), and geography (APAC, North America, Europe, MEA, and South America). The market is fragmented due to the presence of many established vendors holding significant market share. The research report offers information on several market vendors, including 3M Co., Dragerwerk AG & Co. KGaA, Emerson Electric Co., General Electric Co., Honeywell International Inc., MSA Safety Inc., RAE Systems Inc., Robert Bosch GmbH, Siemens AG, and United Technologies Corp. Register for a free trial today to access 17,000+ market research reports using Technavio's SUBSCRIPTION platform About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Coverage Regions Covered Worldwide Topics Covered COVID-19, Gas Detection Equipment, Gas Detection, Gas Detection Equipment, Fixed Gas Detection Equipment, and Portable Gas Detection Equipment and portable Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected]: www.technavio.com/

LONDON–(BUSINESS WIRE)–#GasDetectionEquipmentMarket–The new Gas Detection Equipment Market Research from Technavio indicates Neutral and Inferior in the short term as the business impact of COVID-19 spreads.


"One of the primary growth drivers for this market is the growing production volume of shale gas,” says a senior analyst for Industrials at Technavio. Owing to the continuous advances in the extraction technologies, the production of shale gas has increased considerably in the US. Similarly, emerging economies, including China, have been contributing to the overall shale gas production significantly in recent years. Also, China has started one of the most significant shale gas projects in the country, named Fuling shale gas project. The rising shale gas production from economies, including the US, Russia, Qatar, Canada, Saudi Arabia, Norway, and others, has further fueled the adoption of gas detection products and solutions. The gas detection equipment is allowing all the stakeholders of several end-user industries to minimize casualties while increasing the safety measures. Consequently, the rapid adoption of shale gas will drive the gas detection equipment market. As the markets recover Technavio expects the gas detection equipment market size to grow by USD 1.06 billion during the period 2020-2024.

Get detailed Insights on COVID-19 pandemic Crisis and Recovery analysis of the gas detection equipment market. Download free report sample

Gas Detection Equipment Segment Highlights for 2020

  • The gas detection equipment market is expected to post a year-over-year growth rate of 4.34%.
  • Fixed gas detection equipment dominated the market in 2019. It is mostly adopted in large facilities and is configured using relays and customizable alarm point settings, primarily to ensure that the detectors instantly respond to atmospheric hazards.
  • The demand for fixed detectors is expected to grow, especially from two user end-user segments, which are industrial and commercial sectors due to an increasing number of industries including chemical, petrochemical, textile, food, and biotechnology.
  • These industries require continuous monitoring of gas emissions in areas, including production units, laboratories, and other places.
  • Therefore, the gas detection equipment market share growth by the fixed segment will be significant during the forecast period.

Regional Analysis

  • 35% of the growth will originate from the APAC region.
  • APAC was the largest gas detection equipment market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period.
  • Factors such as the growing sales of automobiles, thereby increasing the demand for diesel and petrol, will significantly drive gas detection equipment market growth in this region over the forecast period.
  • China and India are the key markets for gas detection equipment in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.

Notes:

  • The gas detection equipment market size is expected to accelerate at a CAGR of over 5% during the forecast period.
  • The gas detection equipment market is segmented by product (fixed and portable), application (industrial, commercial, and residential), and geography (APAC, North America, Europe, MEA, and South America).
  • The market is fragmented due to the presence of many established vendors holding significant market share.
  • The research report offers information on several market vendors, including 3M Co., Dragerwerk AG & Co. KGaA, Emerson Electric Co., General Electric Co., Honeywell International Inc., MSA Safety Inc., RAE Systems Inc., Robert Bosch GmbH, Siemens AG, and United Technologies Corp.

Register for a free trial today to access 17,000+ market research reports using Technavio's SUBSCRIPTION platform

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Coverage

Regions Covered

Worldwide

Topics Covered

COVID-19, Gas Detection Equipment, Gas Detection, Gas Detection Equipment, Fixed Gas Detection Equipment, and Portable Gas Detection Equipment and portable

Contacts

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: [email protected]
Website: www.technavio.com/

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