Pune, India, March 02, 2023 (GLOBE NEWSWIRE) --
The global portable gas detection equipment market size to rise exponentially with increasing applications in marine and mining industries, says Fortune Business Insights in its recently published report tiltled "Portable Gas Detection Equipment Market Size, Share, Trends and Regional Forecast 2023 to 2030". Also rising awareness and prevention of toxic gases that may have an adverse effect on workers’ health are driving the global portable gas detection equipment market.
According to the report, the global market for portable gas detection is gaining impetus on account of increasing government regulations regarding the safety and security of workers, working in the field and in energy extraction ores.
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Industrial Developments:
Honeywell International Inc. has launched gas detector equipment ‘The Honeywell BW Ultra’. The device is capable of monitoring up to five different gases simultaneously, including volatile organic compounds (VOCs). The detector is also enabled with Honeywell’s TouchConnect IoT technology, which made configuration, adjustment, and collision testing fast and simple that allows us to collect and track valuable data.
Report Highlights:
| Report Attribute | Details |
| Base Year | 2022 |
| Historical Year | 2019-2021 |
| Forecast Year | 2023-2030 |
| Segments Covered | By Product, By Technology, By End-user, By Geography, and By Sensors Types |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2023 to 2030 |
| Geographies Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and Rest of World |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
COVID-19 Impact:
The COVID-19 pandemic has had a substantial effect on the market for portable gas detection equipment. Nevertheless, supply chain interruptions and production difficulties have offset the rise in demand for safety equipment across a number of industries. Due to the pandemic, people are now more aware of the importance of gas detection devices as well as job safety. The availability and cost of these products have been impacted by production bottlenecks and shortages, too, with some manufacturers finding it difficult to meet customer demand. The pandemic has also prompted the development of new safety standards, which has raised demand for portable gas detection equipment even more. One such piece of equipment is remote monitoring, which protects workers while limiting physical touch.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/portable-gas-detection-equipment-market-100368
Market Drivers & Restraints:
Human Life Protection Guarantee Assured with Portable Gas Equipment Boosts Their Sales
The spread of Industrial Internet of Things (I-IOT) technology and other advanced technological innovations have eased the work of machinery for use in other industries such as mining, and construction. The use of cloud-based computing services for mining and construction purpose is in itself an achievement. This adds to the growth of the portable gas detection devices market as it involves less risk of human accident or loss and can be handled with the help of sensors and other such machines. This is considered a major factor propelling the global portable gas detection equipment market growth and may continue doing so in the forecast period.
Segmentation of Report:
In addition, the increasing use of photoionization, ultrasonic, and holographic sensors in gas detectors supported by innovations in technology such as nanotechnology are presumed to help the market grow remarkably in the coming years.
However, with change in gas concentration, gas detectors take high response time and this is further intensifying the level of competition among players, often leading to rivalry. This is anticipated to affect the market negatively in the years to come.
Nevertheless, initiatives taken to replace the old gas detection machines with the updated and new ones is helping to improve the oil and gas industry in a bigger picture. This is done to prevent mishaps and large-scale disasters from happening, thus guaranteeing protection of life. Such initiatives are likely to bode well for the global portable gas detection equipment market in the years to come.
Regional Insights:
The Middle East and Africa to Grow Remarkably with Installation of Portable Gas Detectors in Unexplored Areas
Fortune Business Insights foresees the market to be dominated by Asia Pacific. This is owing to the increasing number of greenfield projects by the Chinese government in the entire region in the forecast duration. As per the report, China is the leading nation of the portable gas detection equipment market and is expected to continue its domination in the regional market.
On the other side, the market in the Middle East and Africa is anticipated to witness increasing implementation of portable gas detection machines in the coming years since the recent discovery of many valuable energy and mineral ores in the region. The high adoption of gas detectors in mining and marine applications in Middle East and Africa is prognosticated to bring lucrative growth opportunities for the market in the future.
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Some of the Leading Companies Profiled in the Market:
- International and Thermo Fisher Scientific Inc.,
- BW Technologies Ltd,
- Honeywell International Inc,
- Bacharach Inc,
- RAE Systems Inc,
- Sierra Monitor Corporation,
- GE Measurement & Control Solutions,
- Airtest Technologies Inc,
- Industrial Scientific Corporation,
- Dräger AG & Co,
- Siemens AG,
- Mine Safety Appliances Company,
- others.
Table of Content:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Key Industry Developments - Merger, Acquisitions, and Partnerships
4.2 Distribution Analysis
4.3 Porter’s Five Forces Analysis
4.4 PEST Analysis
4.5 Technological Developments
4.6 Impact of COVID-19
Continued…
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