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Gas Leak Detector Market

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The research report on Gas Leak Detector Market Report, by Product Type, by Technology Type by Application and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Trends and Forecast till 2026.
Gas Leak Detector Market - Size, Share,
Trends and Forecast till 2026
A gas leak detector is a device that is used for detecting the presence of gasses in the
surrounding, which further acts as a safety system. This system is equipped with an
alarm to alert the operators in the area where the leakage is occurring, which in turn
helps the operators to alert all the workers to leave that area immediately. This type of
device is important, as there are many gases that can be harmful to organic life.
Market Drivers:
Stringent government rules and regulations towards increasing safety in the oil and gas
industries is one of the major factors driving growth of the global gas leak detectors
market. For instance, Pipeline Safety Improvement Act of 2002 was passed with the aim
to improve the integrity and safety of pipelines in the natural gas transmission industry.
The act mandates significant changes and new requirements in the procedures used by
the natural gas industries, thereby ensuring safety and integrity of its pipelines.
Furthermore, increasing integration of advanced technologies in the gas leak detector
such as Internet of Things (IoT), sensors, and artificial intelligence (AI) by key players in
the market will further increase adoption of gas leak detector in oil and gas, and
chemical industries. The benefits of advanced gas leak detector systems are longer
lifecycles, enhanced reliability, easy maintenance, and cost-effectiveness among
others, which will in turn help in driving growth of the gas leak detector market over the
forecast period. For instance, in June 2018, Honeywell International, Inc. launched
Searchzone Sonik. It is new connected gas detector that uses ultrasonic waves to
detect leak. This system includes the piezoelectric sensor, which is unaffected by bad
weather conditions and background noise, to provide instantaneous and reliable leak
detection of high-pressure gas leaks. This gas detector is easy to install, commission,
and maintains through an app when paired with an intrinsically safe Android smart
phone with Bluetooth connectivity. Hence, all these factors will help in fuelling growth of
the gas leak detector in the near future.
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The factor hindering growth of the market is high cost of gas leak detector and lack of
awareness among small and medium enterprises, negatively affecting demand for the
gas leak detector in such enterprises. For instance, according to the Coherent Market
Insights, the price of SENSIT HXG-2d combustible gas leak detector was US$ 419 per
piece and SENSIT GoldG2 EX/TOX 2-Gas Combustible gas leak detector was US$
1,372 per piece.
North America is expected to exhibit largest market share in the global gas leak
detector market over the forecast period
North America accounted for the largest market share in 2017 in the global gas leak
detector market over the forecast period (2018-2026), owing to rising consumption of
crude oil and natural gas, which will inadvertently increase the number of oil and gas
manufacturing companies. For instance, according to the Enerdata (global energy
statistical yearbook) analysis, in the U.S., the consumption of crude oil in 2016 was 549
mt (million tons) and it increased to 580 mt (million tons) in 2017. Similarly, in 20l5, the
consumption of natural gas was 767 bcm (billion cubic metres) and it increased to 773
bcm (billion cubic metres) in 2016. Therefore, rising number of oil and gas
manufacturing companies will lead to increasing demand for gas leak detector system
for increasing the safety of employees working in those companies. Furthermore,
increasing number of gas pipeline projects is another factor fueling growth of the gas
leak detector market in this region. For instance, in the press release of July 2017,
TansCanada Corporation announced its plans to spend US$ 160 million to increase
capacity of the natural gas pipeline. The project will add compression and associated
facilities to transport an additional 80 million cubic feet of natural gas per day. Thus,
rising number of projects will increase the demand for gas leak detectors, as it helps in
monitoring the condition of pipeline and in preventing leakage of gas from the pipeline.
Key Players
Major players operating in the global gas leak detector market include City Technology
Ltd., Honeywell International Inc., Mine Safety Appliances Co., Dragerwerk AG &
Corporation., Testo AG, ABB Ltd, Industrial Scientific Corporation, Figaro Engineering
Inc., Yokogawa Electric Corporation, and Hitech Instruments Ltd.
For More Information :
https://www.coherentmarketinsights.com/market-insight/gas-leak-detector-market-2096
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering
action-ready syndicated research reports, custom market analysis, consulting services,
and competitive analysis through various recommendations related to emerging market
trends, technologies, and potential absolute dollar opportunity.
Contact Us:
Mr. Shah
Coherent Market Insights
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#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: [email protected]
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