Portable Gas Detection Equipment Market Trends

Growth Drivers

• Growing Air Pollution across the Globe – air pollution is so prevalent at a global scale that nearly 11% of the deaths are caused by air pollution worldwide while the annual rate of death occurring owing to air pollution is estimated to be around 7 million. It is also estimated that in every 10 people, 9 of them breathe contaminated air.
  
  Portable gas detection equipment is used to detect the level of gas in the air and can be installed in factories, vehicles, households, mines, and others. It notifies people before the gases in the air breach the normal level and can deliver significant harm to people. Hence, as air pollution is rising, the utilization of portable gas detection equipment also increases so people can check the polluted areas and stop visiting there.
• Rising Geriatric Population – Elderly population is more prone to get respiratory diseases such as asthma than children and adults owing to weak cardiovascular systems. The percentage of geriatrics is estimated to be doubled from 2015 to 2050, reaching 22% from 12%. Hence, the devices are quite useful for those above 65. 
• Increasing Production and Consumption of Natural Gas – as of 2021, nearly 35,000,000 million cubic feet of natural gas was produced in the United States while the consumption was projected to be around 30,000,000 million cubic feet. This surge in production requires large labor to work in mines and factories where it is mandatory to install gas detection equipment.
• Growing Incidences of Gas Leaks – for instance, it was estimated that owing to gas leaks or explosions in gas pipelines in the United States, almost 15 people lose their lives every year. Additionally, the local fire department in the USA receives approximately 100,000 cases of LP gas leaks every year. Hence, the demand for the installation of gas detection equipment is estimated to spike during the forecast period.

Challenges

• High Cost of Portable Gas Detection Equipment and Sensors
  
  Portable gas detection equipment is quite expensive to install and medium class population is projected to find it difficult to install this equipment in their households. Additionally, most people are not aware of portable gas detection equipment, hence, this factor is estimated to limit the market growth over the forecast period.
• Reduced Investments Owing to Low-Profit Margins
• Strict Regulations associated with the Distribution of this Equipment