According to Future Market Insights, the global gas detection equipment market is expected to grow from USD 3,613.7 Million in 2023 to USD 6,801.6 Million by 2034, with overall sales exhibiting a CAGR of 6% CAGR from 2024 to 2034.
Rapid growth of industries like oil & gas and mining across the world along with growing focus towards enhancing worker safety is a key factor driving demand for gas detection equipment.
Similarly, global demand for gas detection equipment is anticipated to increase as a result of new, cutting-edge technologies that can provide useful information at the workplace, enhance employee safety, and reduce risk. Due to expanding facilities in the oil and gas industry and increased global mining activity, the market will expand more quickly over the forecast period.
Furthermore, introduction of workplace safety standards supported by need for preventing gas leaking to protect both people and environment will generate high demand for gas detection equipment during the forthcoming decade.
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As a value-added proposition, relevant manufacturers in the market provide their clients with a variety of after-sales service packages and field support services. They are also focusing on the production & development of advanced & end-user-specific custom products to achieve maximum sales. The market’s income will be supported and fueled by a variety of activities, such as repair help, maintenance services, replacement services, technical services, and equipment downtime monitoring.
Key Takeaways from Gas Detection Equipment Market Study
- Based on product type, the fixed gas detector segment currently holds around 52.1% of the volume share of the global market.
- By end-use industry, oil & gas industry is set to hold around 30.6% of the market share on a value basis by the end of the forecast period.
- In terms of sensor technology, electrochemical sensor technology segment is expected to grow at a CAGR of 5% during the forecast period.
- South Asia & Pacific gas detection equipment market is expected to grow at a CAGR of 7.5% over the assessment period.
- North America holds around 25.4% share of the global gas detection equipment
- Germany held approximately 18.6% share of the Europe gas detection equipment market in 2021
Who is Winning?
The gas detection equipment market is moderately consolidated, with around 25–30% market share held by top players across the globe. To achieve more sales, top companies are creating contracts with end users and developing custom products according to the needs of the customer. Along with that, manufacturers have focused on enhancing their sales network to achieve a strong global presence.
Some of the key players in this industry include but are not limited to MSA Safety Incorporated; RKI Instruments, Inc.; Drägerwerk AG & Co. KGaA; Honeywell International Inc.; Halma plc; Danfoss A/S; Emerson Electric Co.; Teledyne Technologies Inc.; Testo SE & Co KGaA; Inficon Holding AG; Sensidyne, LP; ESP Safety Inc.; Opgal; Fortive Corporation and Sensor Electronics.
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Key Segments Covered in Gas Detection Equipment Industry Analysis
By Product Type:
- Fixed Gas Detector
- Portable Gas Detector
By Type of Gas Detection Technology:
- Single Gas
- Multi-Gas
By Type of Gas:
- Combustible
- Toxic
- Oxygen
- Dedicated
By End-Use Industry:
- Oil and Gas
- Mining
- Industrial
- Building Automation
- Others
By Sensor Technology:
- Electrochemical
- Infrared
- Metal Oxide
- Catalytic
- Zirconia
- Others
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