.png)
Market Definition
The gas detection system detects the presence of gases in the area & acts as an early warning system to ensure the area’s safety. It is used to monitor & measure single or mixed gas concentration in industrial units, oil & gas refineries, automobiles, and many more. The major factors driving the market for gas detection system includes a growing awareness of occupational dangers in the workforce. Moreover, owing to rising government regulations regarding workforce safety & security as well as environmental safety standards have positively influenced the market for gas detection equipment.
Market Insights
The North America Gas Detection Equipment market is projected to grow at a CAGR of around 8.26% during the forecast period, i.e., 2022-27. The North America Gas Detection Equipment market has witnessed notable growth during the historical period. The factors that have driven the growth of the Gas Detection Equipment market are the rising concerns about the workforce & industrial plant safety as well as stricter government regulations regarding security standards & environmental safety. Notably, the rising gas leak incidents in the region have mandated the deployment of gas detection equipment to prevent any fatal accidents.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 8.26% |
| Countries Covered | USA, Canada, Mexico |
| Key Companies Profiled | MSA Safety Incorporated, Honeywell International Inc., Teledyne Technologies Inc., General Electric Co., Emerson Electric Co., Thermo Fisher Scientific, Inc., RKI Instruments, Inc., Sensor Electronics Corporation, ENMET Corporation |
| Unit Denominations | USD Million/Billion |
For instance:
Additionally, the manufacturers have also been engaged in continuous R&D to synergize with the Region's Industry 4.0 advancements & bring innovation to the Gas Detection Equipment market. The shifting emphasis toward the implementation of innovative wireless technology, and robust integration of artificial intelligence (AI) & big data technologies, have surged the demand for gas detection equipment in the region.
Furthermore, the countries such as the US & Canada are considered to be leading countries in the adoption & integration of gas detection equipment in their various industrial settings. These countries are spending heavily on the development of their industrial units and thus providing lucrative opportunities for the gas detection equipment during the forecast period.
Key Trends in the Market
The manufacturers in North America are introducing innovative concepts to enhance the sensitivity & efficiency of sensors for detecting harmful gases to ensure real-time data monitoring & alerts. Further, to receive real-time alerts about the concentration of harmful gases in the atmosphere, the facility owners are rapidly adopting smart gas detection equipment to integrate into their manufacturing units. Consequently, the growing use of smart gas detection equipment should enable remote notification features, which is likely to have a major impact on the growth of the North American Gas Detection Equipment market in the near future.
Impact of Covid-19 on the North America Gas Detection Equipment Market
With the advent of COVID-19, the industrial facilities in various sectors, including chemicals, healthcare, consumer goods, automotive, etc., halted their operations across the region during the first half of 2020. This resulted in a notable decline in the sales of gas detection equipment as there was a contraction in the investments allocated towards the establishment of new facilities & the owners of the facilities postponed their plans for renovation & up-gradation, including installation of safety equipment, the existing facilities. However, in the latter half of 2020, when mobility restrictions were eased, the gas detection equipment witnessed a surge in demand.
On the contrary, after the shockwaves of the COVID-19 pandemic globally, the demand for crude oil & natural gas increased in the US as a result of high demand from many oil & gas importing countries, such as China, India, Germany, Italy, the Netherlands, South Korea, etc. Subsequently, the production of crude oil & hydrocarbon gas-liquid saw an acceleration in the US, thus elevating the demand for gas detection equipment in the US as companies invested in expanding their production facilities to cater to the growing demand around the globe. This is expected to cement the market growth of gas detection equipment in the upcoming year.
