According to the research literature titled ‘Global Gas detection Equipment Market Size study, by Sensor Type (Infrared Sensors, Electrochemical Sensors, Metal Oxide Semiconductor Sensors), End Use (Oil & Gas, Water Treatment, Semiconductors, Mining, Building Automation and Construction, Power Generation/Utilities) Power Source(Battery-Powered Gas Detectors, Hardwired Gas Detectors with Backup Batteries, Hardwired Gas Detectors without Backup Batteries) and Regional Forecasts 2020-2027’, available with Market Study Report, global gas detection equipment market was valued USD 3.63 billion in 2019 and is projected to register 5.7% CAGR throughout 2020-2027, subsequently reaching USD 5.66 billion by the forecast period end.

Inflowing investments in safety of domestic and commercial establishments, along with rising customer inclination for natural gases for heating & energy applications are catalyzing global gas detection equipment market growth, cites the study.
 

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For the uninitiated, gas detection equipment is a device that is used as a part of a safety system to measure and indicate the concentration of various gases in the environment. As certain gases can be harmful to cellular life like humans and animals, these devices are essential, particularly for mitigating gas leakage.
 

Notably, the National Transportation Safety Board of the United States claims that majority of gas incidents involve a leakage, with local fire departments addressing about 340 natural gas/ LP-gas leaks without ignition each day. Hence, the rising prevalence of gas leaks will continue to stimulate the demand for gas detection solutions in the upcoming years.
 

From a geographical perspective, global gas detection equipment industry progression can largely be credited to North America, Asia Pacific, Latin America, and Europe. Among these, Europe currently captures significant industry owing to booming population, presence of an advanced technological infrastructure, and affordability & promptness of urgent care services.
 

Meanwhile, Asia Pacific industry is slated to showcase robust growth trends in the ensuing years, attributable to increasing cases of gas leaks, improving technological infrastructure, and rising government support.
 

ESP Safety Inc., RAE Systems Inc., Trolex Ltd., GE Measurement & Control Solutions, Schauenburg Group, GE Measurement & Control Solution, Riken Keiki Co. Ltd., SE Electronics International Inc., Honeywell International Inc., Industrial Scientific Corp., and Siemens AG are the top competitors in worldwide gas detection equipment market space.