Global Portable Gas Detection Equipment Market
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- Published date: July 23, 2020
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Global Portable Gas Detection Equipment Market was valued US$ XX Mn in 2018 and is expected to reach US$ XX Mn by 2026, at a CAGR of around XX % during a forecast period.
Rising preference for wireless detectors is one of the key driving factors of the portable gas detection equipment market. Wireless gas detectors are beneficial to measure gas concentrations in hard to reach the environment, capable of detecting toxic gases and most significantly is easily installed at comparatively low prices. They can detect a host of gases such as oxygen, carbon dioxide, and sulfur dioxide. These factors make wireless gas detectors suitable for remote sensing of flammable and poisonous gases in hazardous environments. The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis In addition, the increasing popularity of natural gas detectors in commercial and residential settings is fueling demand for portable gas detection equipment. With rising prices of petroleum natural gas is progressively being used as an automobile fuel.
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The increasing number of natural gas filling stations is fueling demand for gas detectors to prevent gas leakage that can lead to serious accidents. This is because natural gas is non-toxic but highly combustible. Particularly, developing economies in Asia Pacific are showing significant demand for gas detectors because of the increasing popularity of natural gas to curb environmental pollution. In the Middle East and Africa, a thriving mining and oil exploration industry is stoking demand for wireless gas detectors for workforce safety. However, providing headwinds to portable gas detection equipment market is high response time of gas detectors with a change in gas concentration.By end use segments, the oil & gas segment is anticipated to account for major revenue share and is projected to register fastest growth rate in global portable gas detection equipment market followed by mining segment. Geographically, the North America portable gas detection equipment market is projected to account for major share in terms of revenue in the market, on account of increasing demand for this equipment in oil & gas industry and improved infrastructural developments in countries in this region. Increasing production of shale gas coupled with technological advancements in extraction is a factor anticipated to boost the growth of the market in the US. The portable gas detection equipment market in Asia Pacific is expected to register the fastest growth in terms of revenue in the next 8 years. The Middle East & Africa is anticipated to account for moderate revenue share in global portable gas detection equipment market on account of increasing measures required for a safer workplace. The global portable gas detection research report provides the detailed well-organized perspective of the knowledge related to portable gas detection market. Many key market contenders ought to face difficult things to carry the many market share within the global portable gas detection market, which includes industries, production plants, firms, and vendors. Therefore, at the leading position, the key player must reach before others in terms of production, sales, quality, higher services, and revenue generation. The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global portable gas detection equipment market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global portable gas detection equipment market.
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