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24/03/2021

Gas detection market could be worth $8.38b by 2028

San Francisco, Ca (USA)

The global gas detection equipment market size is expected to reach USD 8.38 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 9.7% from 2021 to 2028. The research attributes the growth to the increasing awareness among governments regarding the harmful effects of greenhouse gases, coupled with their increased efforts toward protecting the environment.

Major industries such as petroleum, oil, and gas, among others are needed to comply with safety and environmental regulations which are also major factors driving the market growth in this sector.

According to the analysts, many companies are focused on introducing drone-based gas detection equipment, which is expected to create new opportunities for market growth in the coming years. For instance, in February 2019, Flir Systems, Inc. announced the launch of Flir Muve C360, a multi-gas detector built for unmanned aerial systems. Flir Muve C360 aims to transform the way emergency teams approach environmental, chemical, and industrial incidents.

IR camera-based gas detectors are gaining traction owing to their capability of detecting combustible gases that are not visible to the human eyes. Uncooled IR cameras are widely in demand by various industries, which has resulted in increased efforts by companies worldwide to address this demand. As a for instance, the report cites an instance in February 2019, when, again Flir Systems, Inc. announced the launch of Flir GF77 Gas Find IR, an uncooled thermal camera for detecting methane.

The Covid-19 pandemic is anticipated to favourably impact market growth in the near future. Hospitals have been using gas detection equipment for monitoring oxygen tanks during the pandemic. Also the report states that during the Covid-19 situation, the U.K. government laid down guidelines highlighting the hazards caused by the increased oxygen level due to the high density of ventilators. This initiative is also expected to contribute to market growth.

In terms of product, the fixed gas detector segment is expected to retain its dominance over the forecast period. The ability of fixed gas detectors to ensure workforce safety is driving the segment growth.

As for technology, it is the infrared gas detection technology segment that dominated the market in 2020 and is expected by the analysts to witness growth over the forecast period. Infrared gas detectors are maintenance-free, which is one of the major factors driving the market growth

In terms of end-use, the industrial segment dominated the market in 2020. The increasing demand for detectors in the mining industry is driving the segment growth

Finally, geographically, the increasing adoption of gas detection equipment in emerging economies such as India and China is expected to create growth opportunities for the market players in the Asia Pacific region over the forecast period.


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