The North America Gas Detection Equipment market is anticipated to grow at a CAGR of 8.26% during the forecast period, says MarkNtel Advisors in their recent research report. The emerging awareness about the safety of industrial workers, stringent regulations in place for regulating industrial infrastructure & workers’ safety in a hazardous environment, the need for improving air quality, and extensive R&D in the gas detection technology, among others, have heightened the demand for gas detection equipment in the region. Furthermore, due to the robust industrial activities in the region, especially in the US, there has been an alarming volume of pollutants & harmful gas discharged from these facilities. This has resulted in a significant reduction in air quality in & around the industrial perimeter.
The US Environmental Protection Agency (EPA) stated that the US oil & gas industry is the largest industrial source of methane emissions, which discharges more methane gas compared to the total emissions of all the greenhouse gases from 164 countries combined. Notably, the rising gas leak incidents in the region have mandated the deployment of gas detection equipment to prevent fatal accidents. For instance, in 2021, a methane gas leakage was reported in the Gulf of Mexico due to a ruptured underwater pipeline, resulting in a five-hour sea surface fire.
Similarly, in October 2018, Canature Processing Ltd, a pet food manufacturer in Canada, reported a toxic liquid ammonia gas leakage ranging between 485 to 1,500 pounds into a freeze-drying production chamber. This incident led to the evacuation of nearly 150 residents. Moreover, these events have widened the need to deploy gas detection equipment to avoid the harmful release of gases in industrial settings. Hence, this is expected to proliferate the demand for gas detection equipment during the forecast years.
Portable Gas Detection to Witness Considerable Growth in North America Gas Detection Equipment Market
Based on type, the market is divided into Fixed & Portable gas detection equipment. Of them, the Fixed gas detectors held a significant share in the historical years, owing to the growing need to detect gas leakage in complex industrial environments, such as those of the petrochemical, chemical manufacturing & formulation, oil & gas, and pharmaceutical industries, which have promulgated the demand for fixed gas detectors. However, the rapid adoption of portable gas detectors is expected to increase in the coming years due to their affordability as well as wireless connectivity via Bluetooth, 5G, and other means, allowing the owner to detect gas in different areas of the facility.
In addition, the increasing R&D, i.e., gas detection technology by various manufacturers, has led to the evolution of portable gas detectors in aspects of sizes, functionality, connectivity, and compatibility. Further, the miniaturization of gas detectors has stimulated the demand for small size, hand-held gas detectors in the region.
Oil & Gas to Witness Highest Demand During the Forecast Period
Based on the end-user, the market bifurcates into Oil & Gas chemicals, Healthcare, Building/HVAC, Consumer Goods, Automotive, and Others. Among them, the Oil & Gas would witness a sizeable demand for gas detection equipment due to the high prevalence of hazardous gas emissions during the production & processing operations with exposure to gases such as benzene, methane, etc.
Therefore, the North American associations & regulatory authorities, such as the American Conference of Governmental Industrial Hygienists (ACGIH), the National Institute for Occupational Safety and Health (NIOSH) as well as numerous Leak detection & repair (LDAR) programs in the region have put up several guidelines & health safety measures to safeguard the workforce in the premises with better & cleaner air.
Consequently, this has created a firm need for the deployment of gas detectors for constant monitoring of the facility & would present revenue generation opportunities for gas detection equipment during the forecast period, reveals MarkNtel Advisors in their research report, "North America Gas Detection Equipment Market Analysis 2022-2027F.”
Leading Companies in the Market
According to MarkNtel Advisors, the leading players in the North America Gas Detection Equipment Market are Baker Hughes Company, Parker Wellbore, Schlumberger Middle East, Superior Energy Services Inc., Seadrill Ltd., Weatherford International PLC, Nabors Industries Ltd., Certified Oilfield Rentals LLC (COR Middle East), Great Valve General Contracting, Rawabi Oil & Gas (ROG), etc.
Key Questions Answered in the Study.