APAC GAS LEAK DETECTORS MARKET ANALYSIS

Gas detector is an equipment that detects the presence of gases in an area. Generally, it is used as part a of safety system to detect gas leak or other emissions. These gas detectors are, generally, linked to control systems so that appropriate actions can be taken to ensure safety. There are different types of gas leak detectors available in the market including electrochemical, photoionization, infrared point, ultrasonic, semiconductor, etc. Gas leak detectors are used in various industrial and commercial enterprises. The major use of gas leak detectors is in oil & gas industries, chemical and power industries, while in commercial segment, it finds applications in restaurants, hotels, and hospitals. Furthermore, gas leak detectors find applications in municipal water, wastewater treatment, automotive manufacturing, mining, and iron & steel industries.

The APAC gas leak detectors was valued for US$ 2189.6 Mn in 2030 is expected to exhibit a CAGR of 6.2 % during the forecast period.

Recent Developments:

• In October 6, 2021 - Honeywell International, Inc. Technology company introduced two new Bluetooth connected gas detectors (Searchline Excel Edge and Searchline Excel Plus) that provide constant monitoring of dangerous gases even in rain, fog, snow and other harsh weather conditions.
• In May 4, 2021 - Industrial Scientific, a gas detection and safety-as-a-service company has introduced Tango TX2, a new two gas monitor that allow users to detect two gases with one small reliable monitor.

Restraint:

• Low profit margins due to strong competition in the region are expected to hinder growth of the APAC gas leak detectors market during the forecast period
• Lack of highly skilled workers is expected to restrain growth of the APAC gas leak detectors market growth over the forecast period

APAC Gas Leak Detectors Market-Impact of Coronavirus (Covid-19) Pandemic:

The COVID-19 pandemic has adversely affected the APAC Gas Leak Detectors Market.  Gas leak detectors is widely used in Oilfield services and Mining as they have the capability to detect a wide range of errors and problems that can cause malfunctions in the system by various gasses. Due to the pandemic, oilfield services faced financial crises due to which many new projects were suspended which directly impacted the sales of the Gas leak detectors used in Oilfield services and Mining. Hence, the APAC gas leak detectors market witnessed slow growth during the pandemic.

China held a dominant position in the APAC gas leak detectors market in 2021

Statistics:

China country dominated the APAC gas leak detectors market in 2021, accounting for a 31% share in terms of value, followed by India, Japan, Australia and New Zealand, South Korea, Rest of APAC, respectively

Figure 1: APAC Gas Leak Detectors Market Share (%), By Country, 2021

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China and Japan were two leading markets in terms of revenue in 2021, and are expected to hold their dominant position over the forecast period. The market growth in these regions is attributed to the growing oil & gas industry coupled with rising pollution. For instance, Gas Leak Detectors are majorly used in oilfield and pipeline etc. in the oil & gas industry, which is expected to drive demand for Gas Leak Detectors over the forecast period. Moreover, increasing demand for Electrochemical in the Gas Leak Detectors is expected to facilitate growth of the Gas Leak Detectors market in China.

The Japan country is expected to gain traction during the forecast period. The countries in the Asia Pacific regions are constantly investing in the oil and gas sector. New plants are initiated to meet the energy requirement of countries such as India, South Korea, Australia and New Zealand, and others. The construction of new plants will increase the demand for Gas Leak Detectors in the oil and gas sector are they are used to detect leakages, confined space monitoring, and others. Hence, the APAC Gas Leak Detectors Market is expected to gain traction in the Japan country in the forecast period.

Electrochemical segment is expected to drive the APAC gas leak detectors market growth during the forecast period.

Electrochemical is widely used in gas monitoring, protection, and remediation. Gas Leak Detectors is stable, cumulative, has high sensitivity, and is immune to concentrated gases. Due to all these advantages, gas leak detectors is developed to monitor and also used for detecting oxygen and toxic gases. Hence, the demand for gas leak detectors is expected to drive the growth of the APAC gas leak detectors market.

Figure 2: The APAC Gas Leak Detectors Market (US$ Mn) Analysis and Forecast, 2022 - 2030

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The the APAC Gas Leak Detectors Market was valued at US$ 1378.5 Mn in 2021 and is expected to reach US$ 2189.6 Mn by 2030, growing at a CAGR of 6.2% between 2022 and 2030.

Major players operating in the APAC gas leak detectors include Honeywell International, Inc., MSA, New Cosmos Electric Co. Ltd, Emerson Electric Co., Industrial Scientific, Thermo Fisher Scientific Inc., Tyco International plc, Drägerwerk AG & Co. KgaA, United Technologies Corporation, and General Electric.