The wireless gas detection market is projected to grow at a CAGR of 14.50% to reach US$3,019.736 million by 2024, from US$1,340.440 million in 2018. The number of factory related accidents has been growing steadily over the years while simultaneously, the regulations regarding the worker’s safety are becoming more stringent. As such, the installation of wireless gas detectors in the manufacturing facility is increasing in order to reduce the factory related accidents. Furthermore, the growing investment in increasing the automation level within a facility is further supplementing the growth of the market. In August 2018, Macurco Gas Detection, a division of Aerionics, Inc, launched its innovative portable gas detection line ‘AimSafety’ in order to enhance worker’s safety from the threat of workplace toxic gases.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the wireless gas detection value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the wireless gas detection market.
Major industry players profiled as part of the report are Honeywell International, Inc., Drägerwerk AG & Co. KGaA, MSA, and Johnson Control among others.
The wireless gas detection market has been analyzed through following segments:
By Technology Type
By Industry Vertical
Oil & Gas
Energy & Power
Middle East and Africa