Global Study on Gas Leak Detector Market, 2020
Persistence Market Research
Need to Increase Personnel Safety at Industrial Units Drives Gas Leak Detector Market : Persistence Market Research
Persistence Market Research
1
Global Study on Gas Leak Detector Market, 2020 According to a latest market study released by Persistence Market Research (PMR), the global gas leak detector market is expected to rise at a 5.30% CAGR between 2014 and 2020. The report, titled “Global Market Study on Gas Leak Detector: Asia Pacific to Witness Highest Growth by 2020�, states that the market will reach a valuation of US$3,143.7 mn by 2020 increasing from US$2,312.2 mn in 2014.
Request Customize Full TOC: http://www.persistencemarketresearch.com/toc/4606
The report states that the global market for gas leak detectors is developing due to several reasons. This includes stringent governmental norms pertaining to the safety standards of domestic and industrial equipment that operate on gas, increasing commercial and residential building development, and increasing investment in chemical and oil and gas industries. However, intense competition due to low-profit margins and deferred investments in oil and gas are posing a challenge for the growth of the global gas leak detector market.
Lately, some newer technologies have been used for gas leak detection purposes. This includes artificial neural network technology and utilization of internet of things (IoT), adds the report.
Request Sample Report: http://www.persistencemarketresearch.com/samples/4606
Gas leak detectors are devices that can detect the presence of gases in surrounding air with the help of technologies such as electrochemical, ultrasonic, and infrared. These devices are installed to detect toxic and flammable gases for safety purposes.
The report categorizes the global gas leak detector market on the basis of applications, technology, product type, and geography.
Gas leak detectors are mainly of two types - portable and fixed. While the former are handheld and mainly used for personal safety, the latter is permanently placed in manufacturing units for personnel as well as plant safety. The portable gas leak detectors segment dominated the market in 2014 and is expected to retain its position throughout the
Persistence Market Research
2
Global Study on Gas Leak Detector Market, 2020 forecast period. The other type of gas leak detector, i.e., the fixed type will be find increasing use in industrial units with the market for fixed gas leak detectors pegged to rise at a CAGR of 3.80% from 2015 to 2020.
View Detail Report: http://www.persistencemarketresearch.com/market-research/gas-leakdetector-market.asp
Portable gas leak detectors are also classified as a ‘personal safety instrument’ as they are meant to detect toxic and flammable gases hazardous for humans. To prevent mishaps that can have severe monetary implications and to ensure added safety for personnel, government regulations and industry associations propagate the use of gas leak detectors in high-density human concentration zones.
The global market for gas leak detectors has been divided into seven regional segments, namely North America, Asia-Pacific (excluding Japan), Eastern Europe, Middle East and Africa, Latin America, Japan, and Western Europe. In 2014, North America, Eastern Europe, Latin America, and Western Europe collectively accounted for 50% of the global gas leak detector market. The region of Asia Pacific excluding Japan contributed 35% to the overall market to stand as the largest regional segment in that year. The Middle East and Africa segment will exhibit a CAGR of 6.27% through the forecast period.
Directly Buy Full Report: http://www.persistencemarketresearch.com/checkout/4606
Market History: Gas leak detectors are equipment that indicate the presence of gases in ambient air using technologies such as electrochemical, infrared and ultrasonic. These devices are used to detect toxic and combustible gases in order to maintain safety. Gas leak detectors are generally available in two different types; portable i.e. handheld and fixed i.e. permanently sited. In many industries portable gas leak detectors are also classified as “personal safety instrument” as they ensure detection of toxic and flammable gases which can cause hazards in plants. Also, government laws, and industry associations advocate the use gas leak detectors in manufacturing plant to ensure the safety of workers and workplace.
Persistence Market Research
3
Global Study on Gas Leak Detector Market, 2020
The global gas leak detectors market accounted for US$ 2,312.2 Mn in 2014 and it is projected to reach US$ 3,143.7 Mn by the end of 2020 while exhibiting a CAGR of 5.3% over the forecast period.
Drivers & Trends Key driving factors identified in the global gas leak detectors market are stringent government safety norms, growing investment in oil & gas and chemical Industries and increasing commercial and residential infrastructure development. However, lower profit margin due to intense competition, deferred investments in oil and gas might pose a challenge towards the growth of the global gas leak detector market. Some of the major trends identified in the global gas leak detector market are the use of internet of everything (IoT) and artificial neural network technology and gas leak detectors.
Market Segmentation The global gas leak detector market is segmented on the basis of region, product type, technology type and application type. The product type is classified into two sub-segment which are, fixed type gas leak detectors and portable type gas leak detectors. On the basis of technology, the market is segmented into electrochemical, infrared imaging, ultrasonic, semiconductor and others. The application segment includes industrial, commercial establishments and others. The industrial application segment is further sub-segmented into oil & gas, chemical and power generation and others. Also, the commercial sub-segments includes shopping malls, hotel & restaurants and other commercial establishments. The regional analysis of gas leak detector market includes Western Europe, Asia Pacific, Eastern Europe, North America, Middle East & Africa and Japan.
Global Gas Leak Detector Market Analysis, By Product Type Portable type gas leak detectors accounted for 58.2% of the global gas leak detector market value in 2014, which is projected to remain dominant throughout the forecast period. The fixed type gas leak detector market is projected to exhibit CAGR of approximately 3.8% for the year 2015 to 2020.
Global Gas Leak Detector Market Analysis, By Application Type
Persistence Market Research
4
Global Study on Gas Leak Detector Market, 2020 As of 2014, the Industrial application segment of the gas leak detector is the largest segment of the global gas leak detector market. Out of the sub-segment oil & gas is the major segment, holding the largest market share as compared with other remaining subsegment. On the other hand, the market value accounted in year 2014 by the commercial establishment application segment is approximately 2.5X of the value registered by the residential segment. Others application segment is expected to grow with a CAGR of 7.1% from 2015 to 2020.
Global Gas Leak Detector Market Analysis, By Technology Type The electrochemical based gas leak detector is the predominant segment with total share of 38.3%, whilst the ultrasonic, semiconductor and infrared based gas leak detector cumulatively accounted for 46.6% % in the global gas leak detector market value in 2014. When compared with other remaining technology segment the infrared based gas leak detectors is projected to grow at higher CAGR of 6.30% over the forecast period.
Global Gas Leak Detector Market Analysis, By Region North America, Latin America, Eastern Europe and Western Europe together contributed 50% of the global gas leak detector market value in year 2014. Whilst Asia Pacific excluding Japan contributed total 35%, making it the largest geographical segment in the global gas leak detector market. The Middle East and Africa gas leak detector market is projected to grow at promising CAGR of 6.27% and expected to account 12.7% in the global gas leak detector market by the end of 2020.
Persistence Market Research
5
Global Study on Gas Leak Detector Market, 2020
About Us: Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
Contact Us: Addie Thomes 305 Broadway 7th Floor, New York City, NY 10007, United States, USA - Canada Toll Free: 800-961-0353 Email: sales@persistencemarketresearch.com Web: http://www.persistencemarketresearch.com
Persistence Market Research
6