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APAC Gas Leak Detectors Market Analysis | Coherent Market Insights

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APAC Gas Leak Detectors Market Analysis | Coherent Market Insights

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. APAC GAS LEAK DETECTORS MARKET ANALYSIS • APAC Gas Leak Detectors Market, By Technology (Electrochemical, Infrared, Semiconductor, Catalytic and Others), By Application (Industrial (Oil and gas, Chemical, Petrochemicals), Commercial (hospitals, hotels & restaurants, others), Residential and Others), By Product Type (Fixed and Portable), and by Country (China, India, Japan, ANZ, South Korea, Rest of APAC) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027 • The global gas leak detector market was valued for US$ 1,242.7 Mn in 2019 is expected to exhibit a CAGR of 5.9 % during the forecast period.

  3. Market Drivers • Growing application in oil & gas industry to ensure safety of workers is expected to drive growth of the APAC Gas Leak Detectors Marketduring the forecast period Gas leak detectors are one of the many must-have devices in oil & gas industry that are necessary for protection of personnel and property hazards such as deadly, toxic, and combustible gases. Furthermore, gas detectors offer high reliability and high responsive methods to monitor toxicity, oxygen levels, and flammability. Development of gas infrastructure pipelines, warehouses, and gas stations is expected to increase, owing to growing demand for gas in the region. According to Coherent Market Insights’ analysis, natural gas liquefaction capacity in the region is expected to exhibit growth of around 66% between 2014 and 2020. Moreover, expansion of capabilities and establishments of new facilities is expected to boost the demand for gas leak detectors and thereby drive growth of the APAC gas leak detectors market in the near future.

  4. Strict regulatory policies and safety norms regarding gas leaks in numerous industries are expected to propel the APAC gas leak detectors market growth over the forecast period Stringent regulatory policies, laws, and safety norms are being implemented in various industries including chemical, pharmaceuticals, energy, petrochemicals, etc. Gas leak detectors are used in these aforementioned industries to detect toxic and flammable gas leaks from process containers and chambers. For instance, hazardous CO2 gas is produced during the brewing process, which needs to be safely disposed of. There are number of strict regulatory policies, safety norms, operational safety rules, and management procedures for environmental accountability that are being enforced to ensure safety operational environment for personnel and property. For instance, according to the Australia/New Zealand standard AS/NZS60079.29.2:2008, it is mandatory to install a gas detector as per work regulations, to detect flammable gases and oxygen. Thus, these factors are expected to support the market growth over the forecast period.

  5. The market in China dominated the APAC gas leak detectors market 30.9 % in 2019 followed by Japan and South Korea, respectively

  6. Market Restraints • Low profit margins due to strong competition in the region are expected to hinder growth of the APAC gas leak detectors market during the forecast period : The APAC gas leak detectors market is highly fragmented and competitive with presence of small regional players and very few large international enterprises. Such intense competition between SMEs and large organizations has resulted in low profit margins from products. This, in turn, is expected to hinder the APAC gas leak detectors market growth over the forecast period. • Lack of highly skilled workers is expected to restrain growth of the APAC gas leak detectors market growth over the forecast period : Training associated with specific application of gas leak detectors is essential, typically for personnel using portable gas leak detectors apart from guidelines from the manufacturer’s side such as quick-start guides and electronic simulators. Gas leak detectors are designed to alarm people in the form of light, sound, or vibrate when some gas is detected, but in case of critical situations, it is very important to understand technical limitations and environmental influences to avoid misinterpretations, major accidents, or personnel panic. Relative operational complexities and costs associated with advanced technology based systems hampers their wide-scale adoption especially among relatively smaller scale end users. Hence, these factors are expected to hinder the market growth during the forecast period.

  7. Market Opportunities • Increasing development of infrastructure in Asia Pacific is expected to present lucrative growth opportunity In commercial and residential applications, gas leak detectors are primarily used for detection of propane gas leak from appliances, gas pipe fittings, and propane tank. Increasing development of commercial infrastructure combined with various large-scale projects such as malls, company headquarters, airports, and hospitals in the region are expected to offer lucrative growth opportunities in the near future. These opportunities are majorly available in emerging economies such as India and China due to increasing demand for safety and security features in residential projects.

  8. Rising use of industrial gases is expected to provide major growth opportunities in the near future Growing consumption of industrial gases such as helium, nitrogen, and argon across different manufacturing industries is expected to provide significant growth opportunities for major vendors to capitalize on the market. Moreover, the use of gases in refrigeration and HVAC processes in automotive application is expected to provide excellent growth for market players over the forecast period.

  9. Market Trends • Integration of advanced technology in gas leak detectors Many manufacturers are focused on development of gas detectors incorporated with advanced features and novel technologies such as artificial neutral network (ANN) and Internet of Things (IoT), in order to make gas detectors highly efficient. For instance, Honeywell partnered with Houston-based Accudata Systems to develop ConneXt Pro, the first-of-its-kind wireless gas detection system based in the IoT technology. Moreover, General Monitor – a U.S.-based manufacturer of gas leak detectors – developed Observer-i, an ultra-sonic multiple gas leak detector, based on ANN technology platform, which can distinguish between real gas leaks and false alarms. • Advent of portable gas detectors is another major trend in the market Various manufacturers in the industry are involved in incorporation advanced technologies including data logging, recording, streamline compliance, wireless connectivity, etc. into gas leak detectors. Furthermore, advanced portable gas detectors are focused on increasing applications as personal protective devices in different industries and also for mobile testing of widespread manufacturing plants. This is owing to the capability of these detectors to detect multiple gases and store data for analysis.

  10. Segment information: • In APAC gas leak detectors market, by technology segment, electrochemical sub-segment dominated the APAC market in 2019, accounting for 73.6% share in terms of value.

  11. Value Chain Analysis

  12. Competitive Section • Key players operating in the APAC gas leak detectors market are Honeywell International, Inc., MSA, New Cosmos Electric Co. Ltd, Emerson Electric Co., Industrial Scientific, Thermo Fisher Scientific Inc., Tyco International plc, Drägerwerk AG & Co. KgaA, United Technologies Corporation, and General Electric.

  13. Key Developments • Key companies in the market are focused on mergers and acquisitions, in order to gain competitive edge in the market. For instance, in December 2019, Honeywell International Inc. acquired Rebellion Photonics, a U.S.-based provider of intelligent, visual gas monitoring solutions. • Major market players are involved in collaborations and partnerships, in order to enhance their market presence. For instance, in June 2018, New Cosmos Electric Co. Ltd, a supplier of gas detection equipment, collaborated with Itron Inc. to improve gas safety for utilities with methane detectors

  14. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Reference : https://www.coherentmarketinsights.com/market-insight/apac-gas-leak-detectors-market-3516

  15. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  16. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

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