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The wireless gas detection market size has the potential to grow by USD 524.65 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by end-user (oil and gas industry, chemical and petroleum industry, power generation industry, metals and mining industry, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including Crowcon Detection Instruments Ltd., Dragerwerk AG & Co. KGaA, Emerson Electric Co., Honeywell International Inc., Johnson Controls International Plc, MSA Safety Inc., Pem-Tech Inc., Sensidyne LP, Siemens AG, and United Electric Controls Co.
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The wireless gas detection market is fragmented. The established vendors are currently working toward expanding their markets geographically and increase production capacities through mergers and acquisitions. Industries such as oil and gas, chemical and petrochemical, power generation, metals and mining, water and wastewater, food and beverages, and pharmaceuticals prefer established vendors of wireless gas detection solutions. Crowcon Detection Instruments Ltd., Dragerwerk AG & Co. KGaA, and Emerson Electric Co. are some of the major market participants. Although the increase in the switchover from wired to wireless gas detection will offer immense growth opportunities, the information security and IT risks will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this wireless gas detection market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this wireless gas detection market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
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APAC will offer several growth opportunities to market vendors during the forecast period. The development in IoT and remote monitoring and the adoption of the latest and miniaturized wireless gas detection products will significantly drive wireless gas detection market growth in this region over the forecast period.
35% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for wireless gas detection in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Wireless gas detection products and solutions are widely used in the oil and gas industry for monitoring the leakage of gases to avoid pipeline explosions or other accidents. These detectors help in the integration of alarm functions that can communicate with control systems, aiding in the protection of workers from gas leaks and toxic content. The installation of new pipelines and related investments in the LNG storage terminal will drive the growth of the wireless gas detection market in the oil and gas industry segment.
However, market growth in the oil and gas industry segment will be slower than the growth of the market in the power generation industry segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the wireless gas detection market size.
The rising shift in preference from wired to wireless gas detection will be one of the major factors that will have a positive impact on the growth of the wireless gas detection market during the forecast period. There is a rising trend of replacement of fixed wired gas detection products with wireless gas detection products and software solutions that offer real-time data in end-user industries such as oil and gas, chemical and petrochemical, and power generation. Moreover, the availability of fixed monitoring solutions for remote applications boosts the installation of wireless gas detection in developed and developing countries. This is mainly due to the portability offered by wireless gas detection products that enable end-users to effortlessly recognize various production areas and keep track of high-risk areas to eliminate safety threats. With technological advancements and the introduction of new functionalities increasing the efficiency and safety of wireless gas detectors, there will be a significant increase in the end-user preference towards wireless gas detection products, fueling the market growth. Our market research analysts predict that this market will grow at a CAGR of almost 5% during the forecasat period.
The increased battery life of wireless gas detectors is one of the key trends that can contribute to the growth of the market in the forthcoming years. Advancements in wireless gas detectors such as improved battery life will reduce maintenance costs for end-users, fueling market growth. Moreover, the integration of enhanced pushbutton calibration and flexible mounting functions with mobility functions will also propel the adoption of wireless gas detectors. With the availability of seamless, plug-and-play interoperability, end-users can also save time and eliminate the costs related to long wiring and installation.
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by End-user
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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