Dublin, April 01, 2022 (GLOBE NEWSWIRE) -- The "Western European Gas Detection Equipment Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
The Western European gas detection equipment market generated revenue of €668.1 million in 2021
The market demand is expected to be driven by the increasing competitive intensity, adoption of wireless and connected technologies, and stringent regulatory norms.
Amongst the 3 product segments, the fixed gas detection segment accounted for 46.0% revenue share in 2021. The portable gas detection segment accounted for 49.7% of the revenue share in 2021 and is expected to have a slightly higher compound annual growth rate (CAGR) of 3.3% from 2021 to 2026, driven by the adoption of connected cloud-based solutions.
Among the end-user industries, oil & gas, chemicals & petrochemicals, and water & wastewater treatment are the 3 major ones accounting for 24.8%, 24.6%, and 12.7% revenue share, respectively, in 2021. The chemicals & petrochemicals, and food & beverage industries will witness the highest growth during the forecast period due to the high demand for detecting hazardous gases, such as ammonia, carbon dioxide, and carbon monoxide.
Germany accounted for 23.7% revenue share in the Western European gas detection equipment market in 2021. The country is expected to witness a CAGR of 3.2% from 2021 to 2026. Post-pandemic growth is likely to be driven by the high adoption of gas detection in small and mid-scale enterprises.
Adoption of Platform/Product as a Service (PaaS) and rental platforms will enable manufacturers' direct tie-ups with end customers to enhance product penetration during the forecast period. The high incidence of injuries due to multiple gas hazards in the industrial environment is expected to boost the growth of multi-gas detection equipment market.
Key Topics Covered:
Key Findings
- Scope of Analysis
- Market Segmentation
- Market Definitions
Market Overview
- Market Overview - End-user Industry
- Market Overview - Sensor Technology
Key Competitors for Gas Detection Equipment
- Company Product Matrix
Key Growth Metrics for Gas Detection Equipment
- Distribution Channels for Fixed Gas Detection
- Distribution Channels for Portable Gas Detection
- Distribution Channels for Detector Tubes
- Growth Drivers for Gas Detection Equipment
- Growth Restraints for Gas Detection Equipment
- Forecast Assumptions - Gas Detection Equipment
Technology Trends - Gas Detection Equipment
- Standards and Regulations - Certification, Installation, and Inspection
- Regulatory Compliance Overview
- Merger & Acquisition - Gas Detection Equipment
- Notable Manufacturer Transactions - Gas Detection Equipment
Competitive Factors Assessment - Gas Detection Equipment
- Revenue Forecast - Gas Detection Equipment
- Revenue Forecast Analysis - Gas Detection Equipment
- Revenue Forecast by Product - Gas Detection Equipment
- Unit Shipment Forecast by Product - Gas Detection Equipment
- Percent Revenue Forecast by Product - Gas Detection Equipment
- Percent Unit Shipment Forecast by Product - Gas Detection Equipment
- Revenue and Unit Shipment Forecast Analysis by Product - Gas Detection Equipment
- Revenue Forecast by Industry Vertical - Gas Detection Equipment
- Percent Revenue Forecast by Industry Vertical - Gas Detection Equipment
- Revenue Forecast Analysis by Industry Vertical - Gas Detection Equipment
- Revenue Forecast by Country - Gas Detection Equipment
- Percent Revenue Forecast by Country - Gas Detection Equipment
- Revenue Forecast Analysis by Country - Gas Detection Equipment
- Competitive Environment - Gas Detection Equipment
- Revenue Share - Gas Detection Equipment
- Revenue Share Analysis - Gas Detection Equipment
Growth Opportunity Universe - Gas Detection Equipment
- Growth Opportunity 1: Multi-sensors, Wireless, and Enhanced Gas Detection Technology to Drive Gas Detection Growth
- Growth Opportunity 2: Rental and Product as a Service (PaaS) Platform to Boost Long-term End-user Engagement Solution
- Growth Opportunity 3: Targeted Mergers and Acquisitions to Consolidate the Gas Detection Equipment Market
For more information about this report visit https://www.researchandmarkets.com/r/dpxhim
