Portable Gas Detection Equipment Market Expected to Reach US$ 1,737.3 Mn by 2023: Transparency Market Research

06 Apr, 2016, 09:30 ET from Transparency Market Research

ALBANY, New York, April 6, 2016 /PRNewswire/ --

According to a new market report published by Transparency Market Research entitled "Portable Gas Detection Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023," the global portable gas detection equipment market had generated revenues of US$ 1,145.3 Mn in 2014; this is projected to expand at a CAGR of 4.8% during the forecast period (2015 - 2023) and reach US$ 1,737.3 Mn by 2023.

The market for portable gas detection equipment is mainly driven by growing preference for flexible, portable equipment for gas leak detection, especially in confined areas with limited access. The expanding applications of this equipment across the mining, industrial, and oil & gas end-use sectors is another driving factor for the market. Moreover, the advent of wearable gas detection equipment is anticipated to offer huge growth potential to the global portable gas detection equipment market in the coming years. On the contrary, a factor hindering market growth is low awareness about portable gas equipment, which receives stiff competition from fixed gas detection equipment that is already installed in major locations.

Full Research Report on Global Portable Gas Detection Equipment Market with detailed figures and segmentation at: http://www.transparencymarketresearch.com/portable-gas-detection-equipment-market.html

By type, the portable gas detection equipment market has been segmented into wearable and non-wearable gas detection equipment. In 2014, the non-wearable gas detection equipment segment occupied a major share in the market. However, the wearable gas detection segment is anticipated to experience swift growth. These can be body worn, which not only increases their comfort but also increases their ease of work. In the non-wearable segment, sniffers account for the majority market share owing to their popularity and widespread use across both industrial and non-industrial sectors.

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By end-use, the global portable gas detection equipment market was led by the industrial sector owing to high demand for gas detection equipment in Asia Pacific, North America, and Europe. The market's size is substantial in the mining and oil & portable gas end-use sectors. In the coming years, the oil & gas segment is further expected to embrace gas detection technologies and thus it is anticipated to remain the fastest-growing end-use segment in the global portable gas detection equipment market. The impact of wearable gas detection is also expected to be significantly high in certain applications in these end-use sectors.

Browse the Press Release of this report, here: http://www.transparencymarketresearch.com/pressrelease/portable-gas-detection-equipment-market.htm

Some of the key players in the global portable gas detection equipment market are Industrial Scientific Corporation, Drägerwerk AG & Co., KGaA, Drägerwerk AG & Co. KGaA, Mine Safety Appliances, Crowcon Detection Instruments, Ltd., Trolex Ltd., Honeywell Analytics, RAE Systems Inc., Detcon, Inc., and Thermo Fisher Scientific Inc.

The portable gas detection equipment market is segmented as below:

Portable Gas Detection Equipment Market 

By End-use 

  • Oil & Portable Gas
  • Mining
  • Industrial
  • Building Automation
  • Others

By Type 

  • Wearable Gas Detectors
  • Non-wearable Gas Detectors
    • Sniffers
    • Others

By Geography 

  • North America
    • The U.S.
    • Rest of North America
  • Europe
    • EU7
    • CIS
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • South Asia
    • Australasia
    • Rest of APAC
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Rest of Latin America

Other Research Reports by Transparency Market Research: 

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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SOURCE Transparency Market Research