Need immediate assistance? Call 1-518-730-0559 (Us-Canada Toll Free) or Contact Us

 

Enterprises in Global Portable Gas Detection Equipment Market Look to Capitalize on Lucrative Opportunities in Emerging Economies

Blog Description

Considering the implementation of stringent regulations in the recent past, both commercial and industrial organizations are – now, more than ever before – under the vigil of more standards when it comes to ensuring workplace safety. For instance, government bodies such as the Occupational Safety and Health Administration (OSHA) have laid down specific guidelines for gas detection. 

Browse Full Global Portable Gas Detection Equipment Market Report with TOC :http://www.mrrse.com/portable-gas-detection-equipment-market

When working in an industrial set up such as mines or chemical industries, there are numerous potential hazards that a worker can be exposed to. While hazards such as gas leakages are unforeseeable, they are definitely detectable and treatable. Gas detection has therefore emerged as the most potent method of determining the presence and measuring the amount of potentially hazardous gases in a given workplace environment.

Thanks to the innovation of the latest technologies, factories and other industrial facilities no longer need to install heavy equipment to ensure workplace safety. The advent of portable gas detectors has made the task of detecting and monitoring the concentration of gases in the air less complex.

An analysis by Transparency Market Research pegs the valuation of the global portable gas detection equipment market at US$1.1 bn in 2014. Rising at a positive CAGR of 4.80% between 2015 and 2023, the market is projected to reach US$1.7 bn by the end of 2023. Owing to their intrinsic benefits, the demand for portable gas detectors has considerably risen around the world.

Browse the full Press Release of Global Portable Gas Detection Equipment Market at http://www.mrrse.com/global-portable-gas-detection-equipment-market

Asia Pacific, Europe, Latin America, the Middle East and Africa, and North America are identified as the most lucrative regional markets for portable gas detection equipment. Trends prevailing in these regions are enumerated below:

  • North America and Europe Hold Significant Share in the Market – North America and Europe emerged as two of the largest contributors to the global portable gas detection equipment market in 2013. However, in the next few years, the enterprises operating in the global market are likely to find lucrative opportunities in the emerging nations of Asia Pacific.
  • Asia Pacific Emerges as Dominant Regional Market – Asia Pacific emerged as the largest market for portable gas detection equipment in 2014, accounting for nearly one-third of the overall market. The demand for portable gas detection equipment in this region predominantly rises from the mining and oil industries in economies such as Indonesia, Australia, and China. In the same year, North America represented a share of 28% in the global portable gas detection equipment market, thereby emerging as the second largest market for portable gas detectors in the world.
  • S. Emerges as Lucrative Market – The U.S. leads the portable gas detection equipment market in North America. The market gains significant impetus from the extraction of shale gas and the increasing mining activities in the U.S. Some of the most lucrative pockets for the market in the country are West Virginia, Wyoming, Montana, and Illinois.
  • Players to Explore Opportunities in the Middle East – The market for portable gas detection equipment in the Middle East and Africa is poised to exhibit growth at the fastest pace in the coming years. Much of the land in the Middle East is yet to be explored, while in Africa, increasing budgets are allotted to mining extraction and exploration activities, which makes it extremely lucrative for enterprises operating in the global portable gas detection equipment market.

It is important to note in this regard that the market for portable gas detection equipment in the Middle East is dominated by GCC countries. These countries have occupied more than half of the overall market for portable gas detection in the region.