Gas Detection Equipment Market Trends, Revenue Estimates And Forecasts Up To 2028

Posted on 2022-06-20 by researchinsights in Industrial // 0 Comments

San Francisco, California , USA, June 20, 2022 — /EPR Network/ —

Gas Detection Equipment Industry Overview

The global gas detection equipment market size was valued at USD 4.06 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 9.7% from 2021 to 2028.

The increasing need for gas detection equipment in the oil and gas sector for applications such as emergency response, fracking, and leak detection is driving the market growth. Moreover, the need for protecting workers from hazardous gases is creating a demand for gas detection equipment across various industries. Government regulations such as the American Society of Heating Refrigeration & Air Conditioning Engineers and Occupational Safety & Health Administration have mandated the installation of gas detection equipment for safety and security purposes, which is also contributing to the market growth.

Government bodies worldwide are making efforts to reduce the oil and gas methane emissions, in turn creating a demand for gas detection equipment. Infrared gas detection sensors are widely used for methane detection as these detectors are vital for monitoring efficiency and safety in a range of applications. Gas detection equipment plays a vital role in reducing the damages caused by methane leaks during transportation, natural gas extraction, and power generation. In January 2020, the Canadian government committed to reducing oil and gas methane emissions by 40% to 45% below 2012 levels by 2025. Reducing methane emissions is considered to be one of the cost-effective methods for cutting global emissions.

Gather more insights about the market drivers, restrains and growth of the Global Gas Detection Equipment Market

Nowadays, gas sensors are made available with HART Communications Protocols, creating new opportunities for the market. HART is an instrumentation communications protocol that provides consistent and uniform communication without disturbing 4-20mA analog signals. It offers various advantages to corporate teams for bringing the right data to large corporate networks and individual plants. The gas detectors available with HART 7 protocol can send sensor status through HART into a plant’s maintenance system.

Bluetooth-based gas detection equipment has gained importance recently. This wireless technology enables users to share the air quality measurements with their colleagues on a real-time basis. Various companies are making efforts to introduce Bluetooth-based gas detection equipment. For instance, in January 2017, Honeywell International Inc. announced the launch of a Bluetooth-enabled fixed gas detector for light industrial applications, enabling the users to maintain and set up the device using the smartphone app easily.

The COVID-19 pandemic has positively influenced the demand for gas detection equipment. COVID-19 affected patients that are hospitalized require additional oxygen, which has propelled hospitals to efficiently manage the use of oxygen. Gas detection equipment plays a vital role in hospitals as it notifies them about oxygen leaks and assists in protecting the patients and resources.

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