Growing establishment of chemical facilities is primarily driving the global market for gas leak detectors. High adoption rate across expanding gas storage facilities is making these detectors an integral part of gas storage facilities. Furthermore, stringent safety regulations are propelling the application of gas leak detectors in gas safety and distribution infrastructures of industrial, healthcare, and construction sectors.
Surge in upstream investments in the oil & gas sector is creating new growth opportunities for the manufacturers. Moving ahead, players are investing in technological advancements, driven by growing penetration of Information Technology (IT) in the oil & gas sector. As cost-efficiency and overall efficacy are top priorities among several ns users, adoption of such advanced gas leak detectors are poised to increase in the coming years.
The oil & gas sector will largely influence the gas leak detectors market, wherein new gas field explorations are translating into increased demand for these detectors. Analyzers coupled with multi-gas detectors are gaining preference over the conventional types, given their compact design and improved gas detection aspect. On a similar front, gas leak detectors are gaining traction in the industrial sector in order to reduce hazards associated with inflammable gases. Further, sales via aftermarkets will remain prominent in the gas leak detectors market
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Gas leak detections become challenging in open and ventilated facilities, calling for more effective gas leak detectors. Issues such as lack of adequate information associated with gas leak detectors are significantly hampering their adoption. Though the safety guideline mandates the effective use of gas leak detectors, small-scale industrial sectors overlook these regulations and refrain from spending in gas leak detectors. Frequent sensor replacements further add to the installation cost, making gas leak detectors a costly device. These factors are collectively dampening the sale of gas leak detectors.
Buoyed by the rapid growth in mining, healthcare, and industrial sectors, Asia Pacific (APAC) will remain the hub of growth opportunities for the market vendors. Additionally, incorporation of advanced safety systems across major end-use industries is also contributing to the regional market growth. This study further reveals that China continues to primarily represent the gas leak detectors market in APAC.
Players in gas leak detector market are strengthening their aftermarket sales with strategic alliances and forward integration. Companies are leveraging advanced IT solutions to enhance the efficiency of their products and, in turn, broaden their product portfolio. In a bid to stay ahead of their peers, market competitors including, Scott Safety and RAE, are innovating their existing product portfolio.
Leading manufacturers are acquiring small- and medium-sized market players to keep up with the increasing market competition. For instance, Honeywell International Inc. has acquired RAE Systems to enhance its product portfolio. Market players are exploring potential growth opportunities in emerging economies to expand their regional footprint. They are generously investing in rapidly growing industries, especially oil & gas sector, to attain a competitive edge in the market. Established players profiled in the global gas leak detector market include
Design modifications and technological intervention will remain critical in shaping the gas leak detectors market. Remote monitoring technique is opening the doors to plethora of use cases that will further push the market. In addition, rising safety concerns across the industrial as well as residential sectors are accenting the need for cost-effective and efficient gas leak detectors.
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The global gas leak detector market can be segmented on the following basis:
By Product Type