APAC Gas Leak Detectors Market Industry Analysis And Market Forecast 2020-2026
Posted: Jun 05, 2020
A gas detector is an equipment that detects the presence of gases in an area. Generally, it is used as part a of safety system to detect gas leak or other emissions. These gas detectors are, generally, linked to control systems so that appropriate actions can be taken to ensure safety. There are different types of gas leak detectors available in the market including electrochemical, photoionization, infrared point, ultrasonic, semiconductor, etc. Gas leak detectors are used in various industrial and commercial enterprises. The major use of gas leak detectors is in oil & gas industries, chemical and power industries, while in commercial segment, it finds applications in restaurants, hotels, and hospitals. Furthermore, gas leak detectors find applications in municipal water, wastewater treatment, automotive manufacturing, mining, and iron & steel industries.
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The global gas leak detector market was valued for US$ 1,242.7 Mn in 2019 is expected to exhibit a CAGR of 5.9 % during the forecast period.
Market Dynamics- Drivers
Growing application in oil & gas industry to ensure safety of workers is expected to drive growth of the APAC gas leak detectors market during the forecast period
Gas leak detectors are one of the many must-have devices in oil & gas industry that are necessary for protection of personnel and property hazards such as deadly, toxic, and combustible gases. Furthermore, gas detectors offer high reliability and high responsive methods to monitor toxicity, oxygen levels, and flammability. Development of gas infrastructure pipelines, warehouses, and gas stations is expected to increase, owing to growing demand for gas in the region. According to Coherent Market Insights’ analysis, natural gas liquefaction capacity in the region is expected to exhibit growth of around 66% between 2014 and 2020. Moreover, expansion of capabilities and establishments of new facilities is expected to boost the demand for gas leak detectors and thereby drive growth of the APAC gas leak detectors market in the near future.
Strict regulatory policies and safety norms regarding gas leaks in numerous industries are expected to propel the APAC gas leak detectors market growth over the forecast period
Stringent regulatory policies, laws, and safety norms are being implemented in various industries including chemical, pharmaceuticals, energy, petrochemicals, etc. Gas leak detectors are used in these aforementioned industries to detect toxic and flammable gas leaks from process containers and chambers. For instance, hazardous CO2 gas is produced during the brewing process, which needs to be safely disposed of. There are number of strict regulatory policies, safety norms, operational safety rules, and management procedures for environmental accountability that are being enforced to ensure safety operational environment for personnel and property. For instance, according to the Australia/New Zealand standard AS/NZS60079.29.2:2008, it is mandatory to install a gas detector as per work regulations, to detect flammable gases and oxygen. Thus, these factors are expected to support the market growth over the forecast period.
Increasing development of infrastructure in Asia Pacific is expected to present lucrative growth opportunity
In commercial and residential applications, gas leak detectors are primarily used for detection of propane gas leak from appliances, gas pipe fittings, and propane tank. Increasing development of commercial infrastructure combined with various large-scale projects such as malls, company headquarters, airports, and hospitals in the region are expected to offer lucrative growth opportunities in the near future. These opportunities are majorly available in emerging economies such as India and China due to increasing demand for safety and security features in residential projects.
Rising use of industrial gases is expected to provide major growth opportunities in the near future
Growing consumption of industrial gases such as helium, nitrogen, and argon across different manufacturing industries is expected to provide significant growth opportunities for major vendors to capitalize on the market. Moreover, the use of gases in refrigeration and HVAC processes in automotive application is expected to provide excellent growth for market players over the forecast period.
This report segments the APAC gas leak detectors market on the basis of by technology, by application, by product type and region. On the basis of technology, APAC gas leak detectors market is segmented into electrochemical, infrared, semiconductor, catalytic and others. On the basis of application, APAC gas leak detectors market is segmented industrial (oil and gas, chemical, petrochemicals), commercial (hospitals, hotels & restaurants, others), residential and others. On the basis of product type, APAC gas leak detectors market is segmented into fixed and portable detectors. On the basis of country, APAC gas leak detectors market is segmented into China, India, Japan, ANZ, South Korea and Rest of APAC.
Key features of the study:
- This report provides an in-depth analysis of the APAC gas leak detectors market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
- It profiles leading players in the APAC gas leak detectors market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
- These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
- Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
- The APAC gas leak detectors market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global boat steering system market.
APAC Gas Leak Detectors Market, By Technology:
APAC Gas Leak Detectors Market, By Application:
- Oil and gas
- hotels & restaurants
APAC Gas Leak Detectors Market, By Product Type:
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Key players operating in the APAC gas leak detectors market are Honeywell International, Inc., MSA, New Cosmos Electric Co. Ltd, Emerson Electric Co., Industrial Scientific, Thermo Fisher Scientific Inc., Tyco International plc, Drägerwerk AG & Co. KgaA, United Technologies Corporation, and General Electric.
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