Wireless Gas Detection Market Estimated to Grow at a CAGR of 9.4 % during Forecast Period 2017- 2022

Published: Sat Apr 13 2019

A new report titled "Wireless Gas Detection Market Estimated to Grow at a CAGR of 9.4 % during Forecast Period 2017- 2022" has been included in the enormous research repository of Market Research Reports Search Engine (MRRSE) that compiles various facets of the Wireless Gas Detection market at a global level portraying a holistic analysis of the marketplace along with intelligence on key participants. The report covers an unbiased analysis on various market aspects, emphasizing major trends giving direction to the market, key opportunities paving new growth avenues, key drivers pushing the market’s growth and challenges and restraints hindering the market for Wireless Gas Detection across the globe.

The research on the global wireless gas detection market provides an incisive analysis of key factors and current trends shaping the dynamics. The report offers a comprehensive overview of supply chain structure, pricing and cost analysis, raw material sourcing strategies, profile of distributors and vendors. It further offers shares of various segments based on product, application, technology and end user and analyzes the size of various regional markets. The study evaluates various trends broadly influencing the evolution of prominent segments in various regions. The insights offered in the study help market participants reliably assess the competitive dynamics in the coming years and help them in impactful strategy formulation. Recent developments and emerging opportunities in various regional markets help in identifying lucrative avenue over the forecast period (2017 -2022).

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The global wireless gas detection market is projected to grow from US$1,130.8 Mn in 2017 to reach US$1,771.4 Mn by 2022 end. The market is projected to expand at a CAGR of 9.4% from 2017 to 2022.

The report offers in-depth insights into key driving and restraining factors, notable trends and prominent opportunities, recent technological advancements, and competitive landscape. The study tales a closer look at emerging demand in end-use industries and the measures taken by developers and distributors to boost their offerings. The rising preference of wireless gas detection system for constant monitoring of gas emission across industrial facilities and plants is the key factor driving the evolution of the market. The rising demand for real-time detection of toxic and flammable gases across various end-use industries such as oil and gas, chemical and petrochemicals, government and military, and mining and metals is a key factor boosting the market.

The growing popularity of wireless platform-based gas detection system compared to fix and hybrid ones is attributed to several factors.  Wireless gas detection systems are characterized by their ease of deployment and flexibility. This is a key factor expected to bolster its uptake in the coming years. In addition, the installation is cost-effective and enables end users scalability in operations. The mounting security concerns related to wireless communication and the lack of proper connectivity in various regions are the key factors likely to hinder the demand for wireless gas detection system to an extent. Nevertheless, the growing adoption of Industrial Internet of Things (IIoT) technologies in various manufacturing industries in developing and developed regions is likely to catalyze the wireless gas detection market over the forecast period.

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The report offers a detailed segmentation of the wireless gas market and elaborately assesses the factors influencing the growth trajectory of each segment. The research analyzes share and size of prominent segments along the historical period (2012–2017) and offers their year-over-year growth for a granular overview of the market. Revenue held by various segments and factors boosting the prominent segments are analyzed in the study.

The report segments the global wireless gas detection market on the basis of product type, end user, application, technology, and region. The various segments based on product type are oxygen, carbon dioxide, carbon monoxide, nitrogen oxide, and others. Of these, the other segment holds the major revenue share in 2017, estimated to be valued at US$ 371.2 Mn and is projected to expand annually by US$ 24.4 Mn during the course of the forecast period.

Based on application, the report segments the market into oil and gas, chemical and petrochemicals, government and military, mining and metals, and others. Based on technology, the various technologies covered are Wi-Fi, cellular, Bluetooth, and license-free ISM band.

The major regional markets are North America, Latin America, Middle East and Africa, Europe, APEJ, and Japan. Of these, North America currently holds the major share of the market vis-à-vis revenue and is projected to maintain its dominance. The regional market is projected to reach a valuation of US$ 470.6 Mn in 2022, expanding at a CAGR of 9.2% during 2017 to 2022.

The report offers an extensive profiling of various distributors and manufacturers and analyzes the strategies adopted by them to consolidate their positions. Leading players operating in the market include 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.

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