Gas Detection Equipment: A Global Strategic Business Report
San Jose, California (PRWEB) May 24, 2013
Demand for gas detection equipment depends on the dynamics of major end-use industries such as oil and gas, power, and chemicals. Over the years, demand has been driven by increased focus on personnel protection needs triggered by growing complexities in work procedures and production processes. Growing emphasis on the importance of monitoring the environment in a given location, both from an environmental and personnel safety standpoint, further magnifies the trend. Growth is additionally supported by the rise in production, transportation and trade of dangerous chemicals, growing number of chemical accidents, encouraging gains in developing markets, emergence of newer application areas and sustained growth in handheld/portable gas detection equipment. Emerging application areas poised to open up newer avenues for growth include space applications, wastewater treatment, aerospace, emergency response, and other confined spaces in industrial settings like underground utility vaults, pipelines, wells and sewers, automobile parking places, among others.
Although influenced by broad macro-economic variables, demand for gas detection equipment is relatively less volatile in relation to economic ups and downs, since companies shed unflinching focus on activities such as safety monitoring and quality testing. Workplace safety is not often compromised upon even during tight financial conditions, especially against a backdrop of tightening workplace safety and health laws drafted to reduce personal injuries and illnesses from occurring in the workplace. Companies are increasingly earmarking adequate budgets for operational safety, given the disproportionately higher costs associated with employee/worker injuries, loss in productivity/performance, and penalties paid for violation and non-conformance to laws.
Rising price sensitivity in key end-use markets as a fall out of the tough economic conditions in deficit ridden economies in the developed world is resulting in manufacturers increasingly focusing on developing cost-competitive products that offer superior price to performance features. Intensifying competition is also resulting in pricing pressures forcing manufacturers to focus on product customization, and channelize resources on marketing to ensure greater product availability and visibility. Innovative product strategies include focus on the manufacture of cost-effective, low-maintenance, multi-purpose equipment with enhanced functionalities such as easy installation, operation and calibration. On the marketing front, strategies such as bundling of maintenance contracts with equipment sales are popular among manufacturers to retain consumers who have turned cost sensitive as a result of tight budgets.
Wireless gas detectors are forecast to witness strong growth in the coming years. These systems are growing in popularity in mobile applications in heavy industrial environments. The growing use of wireless gas sensors in permanent installations in addition to temporary installations is forecast to drive gains in this market. Off-shore oil and gas exploration is emerging into a major application area for wireless gas detection systems. Wireless infrared gas detectors are especially poised to benefit given their numerous advantages, such as low cost, unrivalled flexibility and safety, conduit-free installation, elimination of expensive wiring and cabling requirements, reduced maintenance, remote monitoring capabilities via radio communication and elimination of the need to repeatedly re-install and relocate detectors. Given the growing end-user preference for wireless systems, the emerging need to replace legacy gas detection equipment in various industries is expected to provide opportunities for new generation wireless gas detectors.
As stated by the new market research report on Gas Detection Equipment, the US represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a projected CAGR of 8.5% over the analysis period. Growth in the region is led by rapid expansion of manufacturing bases, strong industrialization and increase in adoption of international safety standards and practices.
Major players in the market include Airtest Technologies Inc., Bacharach Inc., Dräger AG & Co., GE Measurement & Control Solutions, Honeywell International Inc., 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 Safety, among others.
The research report titled “Gas Detection Equipment: Global Strategic Business Report”, announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for all major geographic markets including the United States, 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). Product markets analyzed in the report include Fixed Gas Detection Equipment, Handheld/Portable Gas Detection Equipment, and Detector Tubes.
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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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