BAKU, Azerbaijan, July 21
By Leman Zeynalova – Trend:
Global gas detection equipment market to reach $3.4 billion by 2026, Trend reports with reference to ReportLinker.
Gas detection equipment are major front-line systems used in various industries for early detection of leakage of flammable and toxic gasses and vapors.
“Demand in the global market is set to be driven by increasing adoption of these safety devices in industrial, commercial and other industries for ensuring worker safety, minimizing risks and preventing fire breakouts. The market benefits from rising demand from end-use industries, focus on residential and workplace safety standards, and enforcement of tough environmental regulations. The oil & gas and chemicals industries are among the primary end-users of gas detectors owing to increasing emphasis on safety measures related to gas processing. Industry protocols and government laws that require gas facilities to use gas detectors are driving technical innovations such as infrared and photoionization technology. Growth is also anticipated to be influenced by penetration of the Internet of Everything and artificial neural network technologies over the next few years,” reads the report.
Amid the COVID-19 crisis, the global market for Gas Detection Equipment estimated at US$2.6 Billion in the year 2020, is projected to reach a revised size of US$3.4 Billion by 2026, growing at a CAGR of 4.3 percent over the analysis period. Electrochemical, one of the segments analyzed in the report, is projected to grow at a 4 percent CAGR to reach US$1.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Metal Oxide segment is readjusted to a revised 4.2 percent CAGR for the next 7-year period. This segment currently accounts for a 24.8 percent share of the global Gas Detection Equipment market. Electrochemical gas detectors find applications in a broad spectrum of environments that include refineries, chemical plants, gas turbines and underground gas storage facilities. The growing adoption of electrochemical sensors is attributed to their capability to detect harmful gas emission, detect landfill gases and improve indoor air quality. Metal Oxide Semiconductor (MOS) detectors are primarily used to detect a wide range of gases, commonly hydrogen sulphide and have a long life span even up to ten years.
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