Pune, India -- (SBWIRE) -- 04/11/2019 -- The latest report has been added to the wide database of Gas Detection Equipment Market by Infinium Global Research. This report studies the Gas Detection Equipment Market by sensor type (infrared sensors, electrochemical sensors and others), end-use industry (oil & gas, water treatment, semiconductors, mining, building automation and construction and power generation/utilities) and power source (battery-powered gas detectors, hardwired gas detectors with backup batteries and others) Industry Analysis, Trends, Market Size, Forecasts up to 2024, market status and outlook of global and major regions, from manufacturers, and end industries. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. Gas Detection Equipment Market provides opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape, latest trends, and product offerings of the major companies in the Gas Detection Equipment Market. The global gas detection equipment market is projected to grow at a CAGR of 5.4% over the forecast period of 2018-2024.

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The report also deep dives into the sub-segments of Gas Detection Equipment Market by sensor type (infrared sensors, electrochemical sensors and others), end-use industry (oil & gas, water treatment, semiconductors, mining, building automation and construction and power generation/utilities) and power source (battery-powered gas detectors, hardwired gas detectors with backup batteries and others) through main geographies in the Global Market such as North America, Europe, Asia-Pacific and RoW.

Asia Pacific Region to Contribute to Growth in the Global Gas Detection Equipment Market over the Upcoming Years

The Asia Pacific dominated the global gas detection equipment market followed by North America. Miss. Pooja Baragale a research analyst at Infinium Global Research quoted that the growth in North America is mainly due to the government regulations concerning workplace safety. Pooja Baragale further stated that countries like India and China are anticipated to show a rapid increase in demand owing to the rise in a number of investment in chemical, petrochemical, power, steel and oil & gas sectors. On the other hand, tremendous infrastructure development was undertaken by the developing economies such as the Middle East, India and Brazil is expected to drive the gas detection equipment market in the near future.

The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encourage the expansion of the Gas Detection Equipment Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Gas Detection Equipment Market are Honeywell International Inc, Siemens AG, Riken Keiki Co. Ltd, SE Electronics, GE Measurement & Control Solution, Schauenburg Group, RAE Systems Inc, Industrial Scientific Corp, Troloex Ltd and ESP Safety Inc.

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Wireless Gas Detection Systems to Promote Growth in the Gas Detection Equipment Market Over 2018 to 2024

Rising safety concerns in industrial as well as commercial spaces are the major factors driving the growth of the gas detection equipment market. In addition, wireless gas detection systems have also proven themselves in oil and gas applications to provide increased safety and cost savings in exploration, refining, plant improvements, and retrofits. This, in turn, is anticipated to drive the gas detection equipment market over the forecast period. However, the high response time of the gas detectors with the change in the concentration of the gas and intensely competitive market players are the factors hampering the growth of the gas detection equipment market over the years to come.

Furthermore, an increase in demand to detect gases and safety for medical and household sector are anticipated to provide huge growth opportunities for the key players in the gas detection equipment market. On the other hand, smart gas detectors are being manufactured by focusing on the development of innovative wireless technology and rapid integration of big data and artificial intelligence. For instance, the application in remote monitoring is Network capable application Processor that is connected only to sensor smart transducer interface module that can perform a remote process such as monitor the temperature of a water bath in a chemical processing plant through the Internet. This, in turn, has opened several doors of opportunity for the growth of gas detection equipment market over the upcoming years.

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Key Trends to Feature in the Global Gas Detection Equipment Market between 2018 and 2024

The prominent players identified in the gas detection equipment market are Honeywell Analytics, Sierra Monitor Corporation, and General Monitors. In addition, Honeywell Analytics manufactures a full and comprehensive range of products has set a benchmark for the industry in terms of quality, functionality, and ease of use.

Reasons to Buy this Report:

- Comprehensive analysis of global as well as regional markets of the Gas Detection Equipment.

- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.

- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.

- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.