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Gas Detection Equipment Market To Hit US$ 3.70 Bn by 2023

The purpose of the report is to illustrate the state of the market of Gas Detection Equipment, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.

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Market Insights

Gas detection equipment is a subset of a safety system used across multiple industries to detect the presence or leakage of gases in a confined area. Ideally, gas detection equipment is coupled with a control system to sound an alert for shutting down running operations. Thus, it is used to alert workforce regarding a potential risk of explosion or fire break due to possible gas leakage. While the deployment of gas detection equipment was predominantly limited to industry verticals such as oil and gas, mining, and utilities (water and waste water treatment), the advancements in technology have expanded their use in commercial as well as residential applications. Need for safety at workplace remains the overriding factor driving market growth in these segments.

Competitive Insights:

The global market for gas detection equipment is highly consolidated. The leading three gas detection manufacturers account for over 50% of the global market revenue.  Dragerwerk AG & Co. KGaA, Honeywell Analytics, and Mine Safety Appliances (MSA) Company are identified as the leading gas detection equipment manufacturers worldwide. Some of the promising and emerging players identified in the global gas detection equipment market include Industrial Scientific Corporation, RAE Systems Inc, GE Measurement & Control Solutions, Sensidyne, LP, Trolex Ltd., Siemens AG, BW Technologies Ltd, ENMET Corporation, Airtest Technologies Inc., Bacharach Inc, and Scott Safety among others. In order to sustain in this relatively matured market, players are increasingly focusing on expanding product portfolio and global presence through strategic partnerships and acquisitions.

Why was the report written?

This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Gas Detection Equipment buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.

What is the current market landscape and what is changing?

Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.

The report on the market of Gas Detection Equipment contains:

Analysis and forecast of Gas Detection Equipment market dynamics;

Analysis of domestic production, market shares of the main market players;

Analysis of exports and imports;

Analysis of factors, leading the development of the Gas Detection Equipment market;

Assessment and forecast of Gas Detection Equipment market development;

Financial and business profiles of the leading companies in the Gas Detection Equipment industry.

Scope

– Up to date working Gas Detection Equipment data by major regions in the world, the forecast of planned capacity additions by 2026

– The annual breakdown of capital expenditure spending on proposed Gas Detection Equipment for the period 2018 to 2026

– Planned Gas Detection Equipment additions and capital expenditure spending by key countries and companies across the world

– Planned capital expenditure spending on new Gas Detection Equipment projects by region, key countries, and companies

– Details of major planned Gas Detection Equipment projects in the world up to 2026

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