Gas Leak Detector Market Overview
Gas leak detector is a device that senses or detects the existence of gases in a particular area using technologies such as electrochemical, infrared, ultrasonic etc. These devices can alert on both minor and severe gas leakages. They are capable of detecting air toxicity and presence of combustible gas in the air. A gas leak detector system helps detecting the gas leaked and generates a signal to take proper action. They are used in the industries, residences and commercial zones to avoid mishaps from gas leakage. It is mandatory in several industries as an “employee and personal safety instrument” to install gas leak detectors. Various industries are recently focusing on the use of advanced portable gas leak detectors to maintain higher safety standards at the workplace. They are mobile and help ensure better personal safety in hazardous work environments. Several government regulations are also being laid pertaining to safety of workers and employees in manufacturing industries.
Market Size and Forecast
Oil refineries, pipelines, processing plants, LPG/LNG plants, storage farms, and offshore platforms produce a wide range of hazardous, combustible and toxic gases. The processes involved in each of the above produces non-toxic gases, which when accumulated in high concentrations depletes oxygen causing a hazardous condition to personnel who occupy the area without proper protection. Moreover, there are several hazardous gases that are the product of mining and mineral processing such as methane (CH4), carbon monoxide (CO), hydrogen sulphide (H2S), and hydrogen cyanide (H2CN) which require continuous monitoring in order to protect the well-being of the mining equipment and personnel. The incidences of gas leaks turning out to explosions has increased the need to adopt for gas leak detectors across work intensive industries such as manufacturing, mining, oil & gas. Increasing awareness related to gas leak hazards and safety measures is expected to boost the growth of gas leak detector market. Oil & gas industry enjoys continuous growth which helps all the related industries to grow at a continuous pace. With an increase in oil and gas extraction activities, the threat of emission of several hazardous gases which if leaked can be dangerous for the workers working in that area. Government across different countries are formulating and implementing various regulations for the safety of the workers and the workplace from gas leakage which is expected to boost the growth of the gas leak detectors market in the near future.
The gas leak detector market is anticipated to record a CAGR of around 6.5% during the forecast period i.e. 2019-2027. The market is segmented by technology & applications. By application, the industrial application segment is anticipated to achieve significant growth on account of its widely accepted applications in different industries such as gas turbines, building and construction, healthcare, food and beverages, water treatment, oil and gas refineries, chemical plants etc.
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Growth Drivers
Increasing awareness about the hazards of gas leaks and safety measures
Oil refineries, pipelines, processing plants, LPG/LNG plants, storage farms, and offshore platforms produce a wide range of hazardous, combustible and toxic gases. The processes involved in each of them produces non-toxic gases, which when accumulated in high concentrations depletes oxygen causing a hazardous condition to personnel who occupy the area without proper protection. Moreover, there are several hazardous gases that are the product of mining and mineral processing such as methane (CH4), carbon monoxide (CO), hydrogen sulphide (H2S), and hydrogen cyanide (H2CN) which require continuous monitoring in order to protect the well-being of mining equipment and personnel. The incidences of gas leaks leading to explosions has increased the need to adopt gas leak detectors across work intensive industries such as manufacturing, mining, oil & gas. Increasing awareness about the hazards of gas leaks and safety measures is expected to boost the growth of the gas leak detector market.
Evergreen oil and gas industry
Oil & gas industry enjoys continuous growth which helps all the related industries to grow at a continuous pace. With an increase in oil and gas extraction activities, the threat of emission of several hazardous gases such as methane (CH4), carbon monoxide (CO), hydrogen sulphide (H2S), and hydrogen cyanide (H2CN) which if leaked can be dangerous for the workers working in that area which gives birth to the need of proper gas leak detectors.
Strict government regulations for safety on industries
Government is implementing various regulations for the safety of the workers and the workplace from gas leakage and promoting the usage of gas leakage detectors in industries, residencies and commercial zones to avoid mishaps due to gas leaks which is expected to boost the growth of the gas leak detectors market.
Restraints
Intense competition and low profit margins
With new entries in the gas leak detectors market, there has been a cut-throat competition in the market which is leading to low profit margins can further hinder the growth of the gas leak detector market in future.
Lack of awareness among small and medium enterprises
The small and medium enterprises are not aware of the concept as well as the usage of gas leak detectors which is expected to hamper the growth of the gas leak detectors market.
Market Segmentation
Our in-depth analysis of the gas leak detector market includes the following segments:
By Product Type
- Portable gas detectors
- Fixed gas detectors
By Technology
- Electrochemical
- Infrared Imaging
- Infrared Point
- Ultrasonic
- Semiconductor
- Holographic
By Applications
- Residential
- Commercial Establishment
- Industrial Applications
By Region
On the basis of regional analysis, the gas leak detector market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is expected to have leading market share on the back of government’s mandatory regulations to compel the adoption of CO gas leak detector in every home. Further, awareness is being spread by National Fire Protection Association (NFPA) and Consumer Product Safety Commission (CPSC). Asia- Pacific is expected to grow at a significant rate on the back of growing need for gas leak detector in oil and gas industry and increasing infrastructure development. Europe and Middle East & Africa is expected to grow significantly.
The gas leak detector market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Top Featured Companies Dominating the Market
- City Technology Ltd.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Honeywell International Incorporation
- Mine Safety Appliances Company
- Dragerwerk AG & Company
- Testo AG
- Industrial Scientific Corporation
- ASEA Brown Boveri Ltd.
- Yokogawa Electric Corporation
- California Analytical Instruments
- Figaro Engineering Incorporation
