Skip to main content

Wireless Gas Detection Market Size to Rise at a Moderate CAGR of 2022

The need for continuous and real-time monitoring of gas emission in mines, tunnels, and industrial plants and facilities has propelled the demand for wireless gas detection. The growing demand for wireless framework of the gas detectors is attributed to the ease of deployments in various hazardous conditions such as those faced by military and security personnel. The advent of flexible and scalable wireless gas detection system offers a through multi-point monitoring of toxic gases across a facility or plant. This is bolstering the demand for wireless gas detection system. The stricter implementation of regulations pertaining to workers’ safety in several manufacturing industries, coupled with the need for mitigating risks, has boosted the deployment of wireless gas detection systems in several developing and developed nations. The development of intuitive and user-friendly solutions in wireless gas detection is contributing to its growth in various regions.
The global wireless gas detection market is forecast to rise at a CAGR of 9.4% during the period 2017–2022. Expanding at this pace, the market estimated with worth US$1,130.8 Mn in 2017 is anticipated to reach US$1,771.4 Mn by the end of the forecast period.
Others Product Type Market Segment to Grow at Leading Revenue Annually
On the basis of product type, the wireless gas detection market is segmented into oxygen, carbon dioxide, carbon monoxide, nitrogen oxide, and others. Among these, the other segment hold the major revenue in the market currently. The segment is anticipated to rise from a valuation of US$ 371.2 Mn in 2017 to US$ 493.1 Mn by 2022 end. This will represent an incremental decline in share from 32.8% in 2017 to 30.1% by the end of the forecast period. The segment is expected to expand at a CAGR of 5.8% from 2017 to 2022. This represents an estimated growth of US$ 24.4 Mn annually during the forecast timeline.
North America Expected to be Leading Contributor of Global Revenue
Regionally, North America leads the market vis-à-vis revenue. The regional market is projected to rise from US$ 302.6 Mn in 2017 to reach a valuation of US$ 470.6 Mn by 2022 end. This accounts for a CAGR of 9.2% from 2017 to 2022. The growth is primarily driven by the wide demand for wireless gas detection system for real-time monitoring of gases in various end-use industries. Substantial advancements in communication technologies used in wireless systems such as Wi-Fi and Bluetooth also augurs well for the regional market.
Meanwhile, Europe is predicted to be a prominent market for wireless gas detection as it will create an absolute opportunity of US$128.4 Mn during the forecast period.
Asia Pacific expect Japan (APEJ) Market to Rise at Substantial Pace
The APEJ market is predicted to expand at a significant growth rate during the forecast period. Rising at a CAGR of 10.3% during 2017–2022, this regional market is expected to be worth US$ 358.2 Mn by the end of the forecast period.
On the other hand, the Middle East and Africa (MEA) market for wireless gas detection is likely to lose some share in the coming years. The regional market is anticipated to lose 35 BPS in the share from 2017 to 2022. The MEA is estimated to rise at a CAGR of for 8.7% during the forecast timeline.
Competitive Analysis
Prominent players operating in the wireless gas detection market are Honeywell International, Inc., Drägerwerk AG & Co. KGaA, Agilent Technologies, Inc., R.C. Systems Co. Inc., Sensidyne, LP, Airtest Technologies Inc., United Electric Controls, Crowcon Detection Instruments Ltd., Pem-Tech Inc., and Otis Instruments Inc. Several companies are focusing on offering user-friendly, intuitive, and scalable solutions for multi-point gas detection in application areas such as oil and gas, chemical and petrochemicals, government and military, mining and metals.

Comments

Post a Comment

Popular posts from this blog

Wi-Fi Chipset Market Poised for an Explosive Growth in the Near Future

Wi-Fi is a technology based on the IEEE 802.11 standard which connects two or more devices using wireless communication within a limited area such as office building, school, home, or computer laboratory. Usage of Wi-Fi has increased significantly in residential and commercial places since the last several years due to the ease of its installation and operation. Currently, a number of devices including video-game consoles, digital cameras, digital audio players, digital printers, smart TVs, tablets, phones, and personal computers are available with built-in Wi-Fi technology. These devices can connect to the internet with the help of wireless access point or wireless LAN (Local Area Network) and can provide control and monitoring of a system from a remote location. Wi-Fi chipsets usually operate in 2.4 gigahertz UHF (Ultra High Frequency) band and 5.8 gigahertz SHF (Super high frequency) band. Wi-Fi Alliance, comprising more than 375 organizations worldwide, establishes and enforces W...
Post a Comment
Read more

Keyless Entry System Market: Industry Outlook, Growth Prospects and Key Opportunities

Keyless entry system is technology that provides physical access to an individual inside any premises or automotive without the use of a mechanical key for performing the locking and unlocking operation. Keyless entry system provides an enhanced convenience and security to the users. In case of a keyless entry system, the users get secure and authorized access to an automotive or premise with the use of various external devices or gesture such as a keyless fob or a smart card, or by the use of their own voice, fingerprints or facial recognition among others. Owing to rapidly increasing adoption of smart technologies across various application sectors, keyless entry systems is increasingly installed among users especially in the transportation sector, government sector, banking financial services and insurance (BFSI) sectors and hospitality industry among others. The global Keyless Entry System market is anticipated to experience a robust growth during the forecast period from 2017 to...
Post a Comment
Read more

Automotive Leaf Spring Suspension Market - Business Strategies and Recent Development

Key priorities of automotive manufacturers include increasing operational performance, improving drivability, and ensuring the safe transport of cargo and passengers. Increasing acceptance of hybrid and electric vehicles and integration of smart and connected technologies have prompted manufacturers to focus on improving the power and drivetrain systems such as clutch, transmission, propeller shaft, axle, and leaf springs. Leaf springs are located between the wheels and the body of the vehicle. When the wheel passes over a bump, it rises and deflects the spring; thereby, storing the energy in the spring. On releasing, due to the elasticity of the spring, it rebounds thereby expanding the stored energy. Increase in demand for automobiles globally, is driving the leaf spring market. The leaf springs are primarily used in light, medium, and heavy-duty commercial vehicles such as pick-up trucks and vans. Some passenger car manufacturers rely on use of leaf spring technology for bet...
Post a Comment
Read more