Fort Collins, Colorado, Oct. 05, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research published a report titled, "Gas Detection Equipment Market Size, Growth, Share, Statistics Report, By Product (Fixed & Portable), By Technology (Semiconductor, Catalytic), By Industry (Oil & Gas, Mining, Water Treatment, Automotive), By Region, and Segment Forecasts, 2023-2032."
According to DataHorizzon Research, the gas detection equipment market size was valued at USD 8.7 Billion in 2022 and is expected to reach USD 24 Billion by 2032 at a CAGR of 10.8%.
Gas detection equipment analyzes the gases in the surrounding environment. These detectors come in various shapes and sizes for search operations set with standard operating parameters. In addition, they are set to alarm for the conditions in which the gases emit beyond the permissible limits.
Although gases cannot be seen with the naked eye, gas detection equipment can help detect flammable gases, making the workplace safer for employees within the factory. The automobile industry also uses gas detection systems to identify harmful carbon emissions. The introduction of IR cameras can detect gases like methane, ethane, propane, and butane. It also helps in detecting gas leaks in moving automobiles.
Gas detectors are predominant in the chemical and mining industries because exposure to certain chemicals in the air can lead to nausea and critical health conditions. To prevent explosions, the gas is transported in secure containers. Detecting flammable and toxic gases like methane and H2S is crucial in mining industries, as they restrict oxygen intake, harming workers' health, decreasing productivity, and causing permanent disability.
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Report Snapshot
| Report Title | Gas Detection Equipment Market |
| Market Size in 2022 | USD 8.7 Billion |
| Market Size by 2032 | USD 24 Billion |
| CAGR from 2023 to 2032 | 10.8% |
| Largest Market | North America |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, Market Estimations, Competitor Analysis, Trends, and Growth Factors |
| By Product | Fixed & Portable |
| By Technology | Semiconductor & Catalytic |
| By Industry | Oil & Gas, Mining, Water Treatment, Food & Beverages, Automotive etc. |
| Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
| Countries Covered | U.S., Canada, U.K., Germany, France, China, Japan, India, Brazil, Mexico, UAE, Saudi Arabia, and South Africa, among others |
| Major Market Players | ABB, Airtest Technology, Honeywell International, Siemens, Lynerd, Thermo Fischer Scientific |
Segmentation Overview:
The global gas detection equipment market has been segmented into product, technology, industry, and region. Based on technology, semiconductor gas detectors registered significant growth in 2022 owing to novel advancements. Regarding industry, the oil and gas sectors account for a high share owing to the growing demand for natural gases and oils worldwide.
North America is a leading region for gas detection equipment and is projected to remain dominant in the forthcoming years. The U.S. is the largest market owing to stringent government regulations in the energy sector and the growing concerns for workplace safety in industrial sectors. Europe is a fast-growing market expected to achieve more stability in the forthcoming years. Moreover, government policies have been dominant in the first place. However, strategic collaborations between the key players have been instrumental in shaping the market growth.
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Gas Detection Equipment Market Report Highlights:
- The global gas detection equipment market growth is anticipated at a CAGR of 10.8% by 2032.
- The gas detection equipment market is significantly driven by public safety agencies such as the Occupational Safety and Health Administration (OSHA) and the Health and Safety Executive, which have established strict regulations for gas detection equipment that further streamline the safety protocol in the industrial and manufacturing sectors.
- Based on product, portable devices held a high market share mainly for their convenience and accessibility.
- Based on technology, catalytic detectors are fast growing due to their calibration features and ease of operations.
- Some prominent players in the gas detection equipment market report include ABB, Airtest Technology, Honeywell International, Siemens, Lynerd, and Thermo Fischer Scientific.
Industry Trends and Insights:
- In 2023, Green Instruments, a Danish company, collaborated with other companies in the domain to develop advanced monitoring systems to assess the gas emissions from sea vessels.
- In 2023, Honeywell International bagged a USD 95 million Army annual maintenance contract.
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Gas Detection Equipment Market Report Segmentation:
- By Product: Fixed, portable
- By Technology: Semiconductor, catalytic
- By Industry: Oil & gas, mining, water treatment, food & beverages, automotive
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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