Market for gas recognition devices
◉ Market for global gas recognition devices to the climax of USD 10.42 billion by 2030, which are promoted by security innovations and industrial expansion
The global market for gas recognition devices has a robust growth injury, which is expected to be expanded from USD 5.38 billion to USD $ 10.42 billion by 2030 and a CAGR of 9.9% in the forecast period. This growth is driven by increasing industrialization, strict safety regulations and technological advances in gas recognition systems.
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◉ Competitive landscape and regional demand
Important actors such as Honeywell International Inc., MSA Safety Inc., Drägerwerk AG & Co. Kgaa, Fig Ltd. and Siemens AG dominate the market and take a significant part into account together. The Asian-Pacific region leads to the demand that is due to fast industrial growth and increased security awareness.
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◉ country -specific knowledge
Growth opportunities in Vietnam
The aspiring industrial sector Vietnam, especially in manufacture and petrochemicals, increases the demand for advanced gas recognition solutions. The government's focus on professional security standards continues to promote market growth.
Trends on the Thai gas recognition market
In Thailand, an increased introduction of gas recognition equipment is recorded in its expanding oil and gas industry. The integration of IoT-capable devices improves real-time monitoring functions and agrees with the country's digital transformation initiatives.
Technological progress in Japan
Japan's focus on technological innovation has led to the development of smartgas detectors with wireless connectivity and real-time data analysis. This progress is aimed at the country's high security standards in various industries.
Consolidation trends in South Korea
The South Korean market for gas recognition devices has consolidation, with important players investing in F&E to offer integrated security solutions. The focus is on improving product reliability and compliance with international security standards.
Opportunities in the Singapore industrial sector
The strategic initiatives of Singapore to become an intelligent nation have led to increased use of advanced gas recognition systems in industries such as chemicals and semiconductors. The government's support for innovation promotes market expansion.
Growth in the United States
The US market worth $ 730.2 million in 2021 is growing due to strict OSHA regulations and the need for security for oil and gas operation. Investments in shalegasxploration increase the demand for gas recognition equipment.
Market expansion in China
China's fast industrialization and the focus on safety at work have led to a significant increase in the introduction of gas recognition systems. The market is expected to reach USD 671.9 million by 2026, which grows a CAGR of 6.8%.
Developments on the European gas recognition market
With its strict safety regulations, Europe is still an important market for gas recognition devices. Germany is expected to grow on a CAGR of approx. 3.1%, which is due to progress in industrial security technologies.
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◉ market segment analysis for gas recognition devices:
according to type
Fixed gas detector
Portable gas detector
after end consumption
Oil and gas
Chemicals and petrochemicals
Water and waste water
Metal and mining
Supply company
Other
◉ recent mergers and acquisitions
In March 2023, Exxonmobil announced an investment of 2 billion US dollars for the Beaumont refinery expansion project on the US Gulf Coast, which improves the need for advanced gas recognition systems.
In September 2023, DOD Technologies started the Chemlogic Revive CL4R four-point gas detector, which shows innovations in gas recognition solutions.
°
Fig Ltd. Hoverguard introduced, a drone-based gas leak detection system that enables fast and precise monitoring of gas emissions.
Honeywell International Inc. is still innovative with Bluetooth-enabled gas detectors, which facilitates real-time data transmission and improved security measures.
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