Global Gas Detection Equipment Market to Reach US$1.5 Billion by 2017, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Gas Detection Equipment market. The global market for Gas Detection Equipment is projected to reach US$1.5 billion by the year 2017, primarily driven by growing focus on workplace safety against the backdrop of mounting concerns over personnel and plant safety. The need to comply with stringent environmental and safety legislations will also boost adoption of gas detection equipment in the coming years. Technology innovations and robust demand from developing markets, especially Asia-Pacific, also augur well for the market.

Gas Detection Equipment: A Global Strategic Business Report

Follow us on LinkedIn - Industrial accidents such as the explosions reported at Texas City refinery of BP and Britain’s Buncefield oil storage unit in mid-2000s have exposed the vulnerability of personnel working in hostile work environments. Employees, especially those working in enclosed workplaces such as boiler rooms, warehouses, garages, repair shops or breweries are at high risk of poisoning due to toxic gases. Exposure to such toxic gases often causes breathing problems, throat and eye infections, dizziness, convulsions, nausea, brain damage and in some serious cases, even death. Often overlooked, these regular hazards can be effectively managed by deploying efficient gas detection devices. Therefore, the need for personnel and plant safety offers a typical business case for adoption of gas detection equipment.

Additionally, the acceptable levels of toxic gas concentrations or occupational exposure of personnel to toxic gas as defined by the industry guidelines governed by organizations such as American Society of Heating Refrigeration and Air Conditioning Engineers (ASHRAE) and Occupational Safety and Health Administration (OSHA) also compel industries to install toxic gas monitoring systems, which can alert employees when toxic gas levels exceed permissible limits. Growing awareness among employees and plant owners on occupational hazards is also encouraging increased adoption of gas detection equipment in various end-use industries.

The recession impact, in retrospect, has been less severe on the global gas detection equipment market for the simple reason that periods of recession and economic slowdown are no excuses for reduced focus on activities such as, safety monitoring and quality testing. Simply put, workplace safety cannot be compromised upon even during difficult economic conditions. Therefore despite the fall in home value, GDP growth, consumer/business confidence index and consumer/business spending during the 2007-2009 period, the market continued at grow, albeit at a slower rate. The need to continuously ensure compliance with regulatory riders, health and safety, and environmental protection norms, coupled with engineering-intensive systems deployments helped the market to remain relatively resilient to the recessionary pressures.

The reduced momentum of growth recorded during the recession period was, nevertheless, largely because of the postponement and cancellation of infrastructure facilities in industries, such as, energy, oil and gas, and chemicals. Softening of the growth rate was also partially due to work force reduction and increased automation, both of which gained preeminence during the recession period as cost cutting measures. However, the underlying economics of gas detection goes beyond temporary weakness in the market’s climate, as investments in such equipment are closely tied to safety of personnel, plant and community in general. For instance, the demand for toxic gas detection equipment in chemical industry, which typically function in highly hostile work environments has and will continue to remain unchanged irrespective of economic conditions. Companies too cannot afford to cut corners on operational safety measures for long, given the disproportionately higher costs associated with employee/worker injuries, loss in productivity/performance, and penalties paid for violation and non-conformance of OHS laws. These costs tend to far outweigh any gains stemming from cutting investments on gas detection equipment as a measure to save money. Technology innovations such as infrared and photoionization technology will push up demand for portable gas detection equipment in the short to medium term period, while continued market penetration into niche sectors such as aerospace, and emergency response will also open up additional avenues for growth.

As stated by the new market research report on Gas Detection Equipment, the US continues to remain the largest regional market. The US market is primarily driven by growing replacement demand and well-established occupational safety regulations in the nation. Asia-Pacific represents the fastest growing regional market displaying a CAGR of about 3.8% over the analysis period. Increased investments on new plants in steel, power, chemical/petrochemical and oil & gas sectors and rapid adoption of international safety standards and practices make Asia-Pacific a market laden with tremendous potential. Handheld/portable gas detection equipment market continues to be the largest and the fastest growing segment. Growth in adoption of handheld/portable gas detection equipment can be primarily attributed to the range of usage benefits that it has to offer, including its compact size, simple usage pattern and the ability to provide uninterrupted monitoring services.

Major players in the marketplace include Airtest Technologies Inc., Bacharach Inc., Dräger AG & Co, GE Measurement & Control Solutions, Honeywell International Inc., Honeywell Analytics, BW Technologies Ltd, Industrial Scientific Corporation, Mine Safety Appliances Company, RAE Systems Inc., Siemens AG, Sensidyne, LP, Sierra Monitor Corporation, Thermo Fisher Scientific Inc., Tyco International, and Scott Health & Safety.

The research report titled "Gas Detection Equipment: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections (US$ Million) for product segments Fixed Gas Detection Equipment, Handheld/Portable Gas Detection Equipment and Detector Tubes across geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia Pacific (China and Rest of Asia-Pacific), Middle East, and Latin America (Brazil and Rest of Latin America). Key End-use segments analyzed include Oil & Gas Extraction, Power, and Chemical, among others.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Gas_Detection_Equipment_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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