Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

A gas leak detector is specialty equipment that can detect the presence of gases in an area as part of a system. This type of equipment is used to detect a gas leak or other emissions that may interfere with a control system leading to shut down. Such equipment used advanced technologies such as ultrasonic, electrochemical, and infrared. Gas leak detectors are used in various sectors including oil & gas, chemicals, power generation, shopping malls, restaurants, and hotels, residential, etc. Furthermore, gas leak detectors can either be fixed or portable.

The global gas leak detectors market is estimated to account for US$ 4,695.7 Mn in terms of value by the end of 2027.

Market Dynamics- Drivers

  1. Rising investment in oil & gas and chemical industry is expected to drive growth of the global gas leak detectors market during the forecast period

Natural gas and crude oil gas are primary raw materials for the production of energy. The development of gas infrastructures such as pipelines, gas stations, and warehouses is expected to increase the demand for gas worldwide. As a result of this, the demand for gas leak detectors is expected to increase significantly. Hence, these factors are expected to drive growth of the global gas leak detectors market during the forecast period.

  1. Strict regulatory norms associated with safety are expected to propel the global gas leak detectors market growth over the forecast period

Many countries across the globe have implemented strict regulatory norms regarding safety in various industries such as chemical, food, and pharmaceuticals. Gas leak detectors are used in the aforementioned industries to detect flammable and toxic gas leaks from containers and chambers. Increasing capacity expansion of existing plants and establishment of new facilities is projected to propel demand for gas leak detectors, especially for flammable and toxic gas detection applications. Thus, these factors are expected to propel the global gas leak detectors market growth over the forecast period.

Statistics:

APAC held dominant position in the global gas leak detector market in 2019, accounting for 41.4% share in terms of value, followed by North America, Europe, and RoW respectively.

Figure 1: Global Gas Leak Detectors Market Share (%), in terms of Value, By Region, 2019

Gas Leak Detector  | Coherent Market Insights

Market Dynamics- Restraint

  1. Low profit due to the intense competition is expected to restrain growth of the global gas leak detectors market during the forecast period

There is intense competition among market players. The global gas leak detectors market is highly fragmented due to the presence of domestic and international market players. This high intensity of competition among the existing global and local players results in lower profit margins from products. Hence, these factors are expected to restrain growth of the global gas leak detectors market during the forecast period.

  1. Lack of technological advancements in offshore leak detection systems is expected to hinder the global gas leak detectors market growth over the forecast period

Although gas leak detectors are vastly used in the oil & gas industry, lack of technological advancements still remains a major challenge. For offshore leak detection systems, highly efficient and effective gas leak detectors are required. Thus, these factors are expected to hamper the global gas leak detectors market growth over the forecast period.

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Gas Leak Detectors Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 2,980.3 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 5.8% 2027 Value Projection: US$ 4,695.7 Mn
Geographies covered :
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, Rest of Middle East
  • Africa: South Africa, North Africa, Central Africa
Segments covered:
  • By Applications:
    • Industrial: Oil & Gas, Chemicals, Power Generation.
    • Commercial Establishment: Shopping Malls, Hotels & Restaurants, Other Commercial.
    • Residential, Others.
  • By Product Type: Fixed, Portable.
  • By Technology: Electrochemical, Infrared, Semiconductor, Ultrasonic, Others.
Companies covered:

MSA Safety Inc., Tyco International plc, Emerson Electric Company, Honeywell International Inc., Drägerwerk AG & Co. KgaA, PSI AG, Bridger Photonics Inc., Siemens AG, IntelliView Technologies, Inc., Pure Technologies Ltd., and Schneider Electric SE.

Growth Drivers:
  • Rising investment in oil & gas and chemical industry
  • Strict regulatory norms associated with safety
Restraints & Challenges:
  • Low profit due to the intense competition
  • Lack of technological advancements in offshore leak detection systems

Market Opportunity

  1. Advent of Internet of Things (IoT) and artificial neural network technology can present lucrative growth opportunities

Companies are focused on enhancing their product portfolios through the adoption of new technologies such as Internet of Things (IoT) and Artificial Neural Network (ANN) to make gas leak detectors smarter and more efficient.

  1. Growing product innovation can provide major business opportunities

Key participants in the gas leak detector market are focused on R&D activities in order to introduce advanced and cost-effective products such as wireless gas detectors. For instance, Crowcon’s new gas detector is designed for the oil & gas and petrochemical industries. This device can detect multiple gases and can be linked wirelessly to transfer real-time information to the control unit.

Figure 2: Global Gas Leak Detectors Market Value (US$ Mn), 2017 - 2027

Gas Leak Detector  | Coherent Market Insights

The global gas leak detector market was valued at US$ 2,980.3 Mn in 2019 and is forecast to reach a value of US$ 4,695.7 Mn by 2027 at a CAGR of 5.8% between 2020 and 2027.

Market Trends

  1. Increasing use of portable gas detectors

Manufacturers are focused on developing advanced gas leak detectors and upgrading existing products, especially for industries such as chemicals, mining, and food. Advanced portable gas detectors are used for personal protection in numerous sectors as well as for mobile testing. This is owing to the capability of these detectors to identify multiple gases ability of these detectors to detect multiple gases and store data for analysis.

  1. Merger and acquisition activities among market players is another major trend

Key players in the market are focused on mergers and acquisitions, in order to enhance the market presence. For instance, in June 2013, Honeywell acquired RAE Systems, Inc., a global manufacturer of portable and fixed gas detection systems and software. Furthermore, in March 2015, Scott Safety acquired Industrial Safety Technologies (IST). The objective of this acquisition was to enhance the company’s presence in key regions such as the Middle East, Gulf Coast (U.S.) and Europe.

Global Gas Leak Detector Market - Impact of Coronavirus (Covid-19) Pandemic

Due to Covid-19 pandemic, many industries witnessed significant shift in their business. Natural gas and crude oil gas are primary raw materials for the production of energy. Due to lockdown imposed by countries, the demand and price of the crude oil has fallen. For instance, in March 2020, in US the price of the crude oil has decreased from US $61.06 to US$23.36. Additionally, every country has banned international and domestic travel, due to this there is huge drop in the consumption of Aviation Turbine Fuel (ATF) across the globe. All these activities had huge impact on gas leak detectors market and there is drop in the demand of gas detectors.

Competitive Section

Key players operating in the global gas leak detectors market are MSA Safety Inc., Tyco International plc, Emerson Electric Company, Honeywell International Inc., Drägerwerk AG & Co. KgaA, PSI AG, Bridger Photonics Inc., Siemens AG, IntelliView Technologies, Inc., Pure Technologies Ltd., and Schneider Electric SE.

Key Developments

  1. Major market players are focused on product launches, in order to expand the product portfolio. For instance, in June 2018, Honeywell International Inc. introduced a new connected gas connector that can detect leaks ultrasonically.
  2. Key companies in the market are focused on product launches, in order to enhance the market presence. For instance, in November 2019, United Electric Controls, a manufacturer alarm, and emergency shutdown technology introduced wireless gas detection solutions for the power industry.

Gas leak detector are equipment which are used to measure presence of gases by using various technologies such as electrochemical, ultrasonic an infrared. These detectors are used to identify combustible and harmful gases in order to provide safety to workers. The installations of these gas leak detector is mandatory  in many industries and has increased focus of various industries on advanced gas detector to maintain high safety standards. Gas leak detectors are used in oil & gas, chemicals, power generation, shopping malls, hotels, restaurants, residential establishments, etc. The global gas leak detectors market study focuses on regions namely North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.

Market Dynamics

Gas leak detectors offer constant monitoring of work areas and the detection of hazardous gases in the environment. It allows organizations to decrease health and safety risks by monitoring and detecting gases beforehand. Rising demand for remote monitoring and reduced operational expenses is expected to propel the Global gas leak detectors market growth over the forecast period. Furthermore, gas leak detectors are expected to reduce the time needed for the assessment of gases by removing manual monitoring of the potential explosion of gases in the area. With rising adoption of work safety equipment companies are focused on the design and development of gas detection controllers to monitor remote gases, which further trigger audio or visual alarms to alert the risk. These factors are expected to propel the global gas leak detectors market growth in the near future.

Growing demand for reduced facility downtime during turnaround operations is expected to propel the global gas detection device market growth during the forecast period. The demand for gas detection devices from numerous industries is increasing rapidly. This is due to reduced operational costs and low gas detection costs provided by these devices. Moreover, businesses are focused on the maximization of efficiency of processes through fast detection of hazardous gases. For instance, Mine Safety Appliances Company, LLC based in Cranberry Township, Pennsylvania, U.S., has designed a gas detection device called the Galaxy GX2 system, which offers gas detection with fast response time to enhance workplace safety in various environments with reduced maintenance costs. Hence, these factors are expected to propel the global gas leak detectors market growth in the near future.

Market Taxonomy

This report segments the global gas leak detectors market on the basis of application, product type, technology and region. On the basis of application, the global gas leak detectors market is segmented into Industrial (Oil & Gas, Chemicals and Power Generation), Commercial Establishment (Shopping Malls, Hotels & Restaurant and Other), Commercial, Residential and Others. On the basis of product type, the global gas leak detectors market is segmented into Fixed and Portable. On the basis of technology, the global gas leak detectors market is segmented into Electrochemical, Infrared, Semiconductor, Ultrasonic and Others. On the basis of region, the global gas leak detectors market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East, Africa.

Key features of the study:

  • This report provides an in-depth analysis of the global gas leak detectors market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year.
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global gas leak  detectors market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the global gas leak detectors market are MSA Safety Inc., Tyco International plc, Emerson Electric Company, Honeywell International Inc., Drägerwerk AG & Co. KgaA, PSI AG, Bridger Photonics Inc., Siemens AG, Pure Technologies Ltd., and Schneider Electric SE.
  • The market players are focusing on strategic collaborations to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global gas leak  detectors market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global gas leak detectors market.

Detailed Segmentation:

  • Global Gas Leak  Detectors Market, By Application:
    • Industrial
      • Oil & Gas
      • Chemicals
      • Power Generation
    • Commercial Establishment
      • Shopping Malls
      • Hotels & Restaurants
      • Other Commercial
    • Residential
    • Others
  • Global Gas Leak  Detectors Market, By Product Type:
    • Fixed
    • Portable
  • Global Gas Leak  Detectors Market, By Technology:
    • Electrochemical                     
    • Infrared
    • Semiconductor                       
    • Ultrasonic
    • Others
  • Global Gas Leak  Detectors Market, By Region:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East
    • Africa
  • Company Profiles
    • MSA Safety Inc. *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Tyco International plc
    •  Emerson Electric Company
    • Honeywell International Inc.
    • Drägerwerk AG & Co. KgaA
    •  PSI AG
    •  Bridger Photonics Inc.
    •  Siemens AG
    •  Pure Technologies Ltd.
    • Schneider Electric SE

 *Browse all the market data tables and figures on “Global Gas Leak Detectors Market- Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Application
      • Market Snippet, By Product Type
      • Market Snippet, By Technology
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New System Launch/Approval
  4. Impact of COVID-19 Pandemic on Gas Leak Detectors Market
    • Short Term and Long Term Impact, By Region
      • North America
      • Europe
      • Asia Pacific
      • Latin America
      • Middle East and Africa
    • Short Term and Long Term Impact, By Application
      • Industrial
      • Commercial Establishment
      • Residential
      • Others
  5. Global Gas Leak Detectors Market, By Application, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Industrial
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
        • Oil & Gas
        • Chemicals
        • Power Generation
    • Commercial Establishment
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
        • Shopping Malls      
        • Hotels & Restaurants
        • Other Commercial
    • Residential
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  6. Global Gas Leak Detectors Market, By Product Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Fixed
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Portable
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  7. Global Gas Leak Detectors Market, By Technology, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Electrochemical
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Infrared
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Semiconductor
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Ultrasonic
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  8. Global  Gas Leak Detectors Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Regional Trends
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  9. Competitive Landscape
    • Company Profiles
      • MSA Safety Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Tyco International plc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Emerson Electric Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Honeywell International Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Drägerwerk AG & Co. KgaA
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • PSI AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Bridger Photonics Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Siemens AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Pure Technologies Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Schneider Electric SE.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  10. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

*Browse XX market data tables and XX figures on “Global Gas Leak Detectors Market-forecast to 2027”.

Frequently Asked Questions

The global gas leak detector market size was valued at US$ 2,980.3 million in 2019 and is estimated to exhibit a CAGR of 6.7% between 2020 and 2027.
Oil & gas segment held the major market share in 2019 owing to maintaining high safety standards in oil industries.
Major factor driving the growth of global gas leak detector market during the forecast period are strict regulatory norms associated with safety.
Major factors hampering the growth of the gas leak detector market during the forecast period constitutes lack of technological advancements in offshore leak detection systems
APAC gas leak detector market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are MSA Safety Inc., Tyco International plc, Emerson Electric Company, Honeywell International Inc., Drägerwerk AG & Co. KgaA, PSI AG, Bridger Photonics Inc., Siemens AG, IntelliView Technologies, Inc., Pure Technologies Ltd., and Schneider Electric SE.
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