Gas Detection Equipment Market Is Expected To Grow At 5.3% By 2032

gas-detection-equipment-market-forecast-2022-2032

The global gas detection equipment market is estimated at USD 1.5 Billion in 2022 and is forecast to reach USD 2.6 Billion by 2032, growing with a CAGR of 5.3% from 2022 to 2032. Fact.MR- a market research and competitive intelligence provider, foresee a thriving growth in gas detection equipment demand. The global gas detection equipment market is expected to grow at 5.3% CAGR during 2022-2032 and surpass the value of USD 2.6 Bn by the end of 2032. The global detection equipment market is expected to be valued at USD 14 Billion, however the gas detection equipment holds a market share of 11% in it.

With the growth in emphasis on ensuring workers’ safety across various end-use industries around the world has provided an impetus to adoption of several protective systems such as gas detection equipment. Several industrial standards, along with governmental norms and regulations implemented to ensure safety and health of laborers in manufacturing industries has necessitated requirement for gas detection equipment.

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Manufacturers around the world are developing smart gas detection equipment by directing their focus toward implementation of innovative wireless technology, and robust integration of artificial intelligence (AI) and big data. Rapid adoption of smart gas detection equipment, which enable remote notifications, are likely to be a major factor contributing to expansion of the global gas detection equipment market in the near future.

Recent Industry News

The gas detection equipment market has seen noteworthy developments and innovations in recent years. In 2022, a key announcement was made by a prominent gas detection equipment manufacturer regarding the launch of a multi-gas portable detector with enhanced sensor technology. This device offers the capability to simultaneously detect multiple gases, providing a comprehensive solution for industries dealing with various gas hazards.

Another important development is the integration of gas detection systems into industrial automation and control networks. This connectivity enables immediate responses to gas leaks and the automated shutdown of critical processes, minimizing the potential for catastrophic accidents. It reflects a growing trend of merging safety systems with industrial operations for improved safety and productivity.

Key Segments Covered

By Type :-

  • Fixed
  • Portable

By End User :-

  • Oil & Gas
  • Mining
  • Government & Military
  • Manufacturing
  • Others

By Region :-

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa (MEA)

Regional Analysis of Lab Automation Market

The demand for gas detection equipment in U.S based industries is gaining huge traction on the back of illness caused by harmful gases such as carbon monoxide (CO) and sulfur dioxide (SO2). The U.S government have implemented mandatory regulations regarding the adoption of gas detection equipment so as to ensure health and safety of employees and workers in various manufacturing industries. U.S based gas detection equipment market will continue to dominate the North America region, in terms of value and volume.

Robust investments in R&D activities, which have driven innovation, have extensively fueled the growth of manufacturing and oil & gas industries. This has further shaped the demand for protective products such as gas detection equipment in these industries for a wide range of applications. The manufacturing and oil & gas industries will prevail as the largest end-users of gas detection equipment. However, U.S is expected to grow at a CAGR of 5.8% over the forecast period.

Emerging Trends

Several emerging trends are shaping the future of the gas detection equipment market. One of the prominent trends is the development of wearable gas detectors. These devices, often in the form of wearable badges or smart clothing, provide continuous monitoring of a worker’s immediate environment, ensuring their safety in real-time. Wearable gas detectors are particularly valuable in hazardous environments or when working in confined spaces.

Additionally, the integration of artificial intelligence (AI) and machine learning in gas detection systems is on the rise. AI algorithms can analyze data from gas detectors, identify patterns, and predict potential hazards, enhancing the proactive nature of safety measures. This trend aligns with the broader movement towards predictive maintenance and safety in industrial settings.

Key Segments Covered

  • By Type :-
    • Fixed
    • Portable
  • By End User :-
    • Oil & Gas
    • Mining
    • Government & Military
    • Manufacturing
    • Others
  • By Region :-
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa (MEA)

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