Gas Detector Market - Forecast(2021 - 2026)

 

Gas Detector Market Overview

The gas detector market is forecast to reach $2.96 billion by 2025, growing at a CAGR of 4% during 2019-2025. Growth of the gas detector market can be attributed to increasing application of gas detectors in building automation systems and industries such as mining, oil and gas, and others. Increasing investments by manufacturers for development of smart gas detectors and integration of gas detectors with wireless technology including Bluetooth, Wi-Fi, Wi-MAX, ZigBee, HART Protocol; and artificial intelligence is stoking demand for gas detection systems.


Gas Detector Market Report Coverage

The report: “Gas Detector Market – Forecast (2019-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Gas Detector Market. 
By Sensor Type: Ultrasonic Sensor, Electrochemical Gas Sensor, Infrared Sensor, Semiconductor Sensor, Others
By Product: Fixed Gas Detector, Portable Gas Detector
By Application: Oil and Gas, Industrial, Mining, Building Automation, Commercial, Residential, Others
By Geography: North America, South America, Europe, Asia-Pacific (APAC),Rest of World (RoW).


Key Takeaways

  • The gas detector market is a moderately fragmented market with top five players accounting for a market share of 30-40% in 2018. 
  • The gas detectors market registered a major share in mining applications in 2018, owing to stringent safety regulations in this industry. 
  • The North American market holds major share owing to increase in usage of gas detectors in the oil and gas, mining and building automation applications.
  • Adoption of wireless gas detectors and integration of AI technology for development of smart gas detectors is set to drive the market.


Gas Detector Market Segment Analysis - By Application 

The application of gas detectors in the mining industry is projected to grow at a CAGR of 3.83% during 2019-2025. In the mining industry, gas detectors play a key role in safeguarding against accidents caused by toxic gases, vapors and other hazardous substances in underground mines. In recent years, companies are manufacturing gas detectors integrated with Internet of Things (IoT) and artificial intelligence (AI) technologies which aid predictive maintenance, analysis of real-time data and in sending warnings to miners situated at different locations within the mines during gas leakages. Companies such as Canada-based Motion Metrics, Norway-based TOMRA, and Brazil-based VALE have adopted this technology in manufacturing equipment for gas detection. According to the U.S. Environmental Protection Agency (EPA), almost 75% of methane emissions are due to coal mining activities. Rising adoption of gas detectors in mining for enabling early detection of leakage of gases such as methane and others is set to drive the gas detectors market.


Gas Detector Market Segment Analysis - By Geography 

The North American region is leading the gas detector market in terms of revenue share, and held a 28% share in 2018. In North America, the utilization of gas detectors has been increasing in mines, especially in coal mines, in order to reduce methane emissions. In 2016, the U.S. faced nearly a four-month-long gas leakage which discharged nearly 100,000 metric tons of methane from a ruptured well of Aliso Canyon storage facility in southern California. Incidents like these have led to an increase in adoption of gas detectors in industries such as mining, oil and gas and others. This is set to fuel demand for gas detectors in the North America region. 

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Location: United States

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