A gas detector monitors and detects the presence and concentration of toxic and combustible gases in its immediate vicinity with the help of a control system and a sensor. Gas detectors are being increasingly used across a broad range of applications including oil and gas exploration, mining, and building automation.
Growing Demand for Wireless Portable Gas Detectors to Propel Global Portable Gas Detection Equipment Market
Growing concerns regarding occupational health hazards associated with mining and oil exploration activities have boosted the growth of the global portable gas detection equipment market. The rising demand for wireless portable gas detectors is expected to further augment the growth of the market during the period between 2015 and 2023. These wireless portable gas detectors are able to detect gas leaks and explosives from a safe distance and hence, are highly preferred. The global portable gas detection equipment market is anticipated to expand at a CAGR of 4.8% during the period from 2015 to 2023. The overall market was worth US$1.14 bn in 2014 and is projected to stand at a valuation of US$1.7 bn by 2023.
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However, high price of wireless portable gas detectors might play hamper the growth of the market in the coming years. The growing demand for portable gas detectors for medical practices and building automation holds immense potential for the growth of the market. The global portable gas detection equipment market is witnessing a growing demand for natural gas detectors across the residential and commercial sectors.
Oil and Portable Gas Segment to Emerge as Fastest Growing End-Use Segment
On the basis of end use, the global portable gas detection equipment market has been categorized into mining, industrial, oil and portable gas, building automation, and others. The industrial sector dominated the overall market in 2014. The portability of a gas detector across the oil and portable gas industry is highly important. During the period between 2015 and 2023, the oil and portable gas segment is anticipated to be one of the fastest growing segments. The market is projected to witness significant demand from the wastewater treatment, building automation, and education sectors as well.
Key Regions in Global Portable Gas Detection Equipment Market
The global portable gas detection equipment market has been segmented into five key regions: Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. The growing demand for portable gas detection equipment for building automation and industrial applications will drive the market across Asia Pacific. In the Middle East and Africa, large mining and oil exploration activities and the growing awareness about workforce safety are anticipated to fuel the demand for portable gas detection equipment. Furthermore, the Middle East and Africa is projected to witness the fastest growth in the market.
Key Players in Global Portable Gas Detection Equipment Market
Some of the key players in the global portable gas detection equipment market are Industrial Scientific Corporation, Drägerwerk AG & Co. KGaA, Thermo Fisher Scientific Inc., Mine Safety Appliances, Trolex Ltd., Crowcon Detection Instruments Ltd., Honeywell Analytics, RAE Systems Inc., and Detcon Inc.