According to a latest market study released by Persistence Market Research (PMR), the global gas leak detector market is expected to rise at a 5.30% CAGR between 2014 and 2020. The report, titled “Global Market Study on Gas Leak Detector: Asia Pacific to Witness Highest Growth by 2020”, states that the market will reach a valuation of US$3,143.7 mn by 2020 increasing from US$2,312.2 mn in 2014.
The report states that the global market for gas leak detectors is developing due to several reasons. This includes stringent governmental norms pertaining to the safety standards of domestic and industrial equipment that operate on gas, increasing commercial and residential building development, and increasing investment in chemical and oil and gas industries. However, intense competition due to low-profit margins and deferred investments in oil and gas are posing a challenge for the growth of the global gas leak detector market.
Request For Report Sample – https://www.persistencemarketresearch.com/samples/4606
Lately, some newer technologies have been used for gas leak detection purposes. This includes artificial neural network technology and utilization of internet of things (IoT), adds the report.
Gas leak detectors are devices that can detect the presence of gases in surrounding air with the help of technologies such as electrochemical, ultrasonic, and infrared. These devices are installed to detect toxic and flammable gases for safety purposes.
The report categorizes the global gas leak detector market on the basis of applications, technology, product type, and geography.
Request For Report Customization – https://www.persistencemarketresearch.com/request-customization/4606
Gas leak detectors are mainly of two types – portable and fixed. While the former are handheld and mainly used for personal safety, the latter is permanently placed in manufacturing units for personnel as well as plant safety. The portable gas leak detectors segment dominated the market in 2014 and is expected to retain its position throughout the forecast period. The other type of gas leak detector, i.e., the fixed type will be find increasing use in industrial units with the market for fixed gas leak detectors pegged to rise at a CAGR of 3.80% from 2015 to 2020.
Portable gas leak detectors are also classified as a ‘personal safety instrument’ as they are meant to detect toxic and flammable gases hazardous for humans. To prevent mishaps that can have severe monetary implications and to ensure added safety for personnel, government regulations and industry associations propagate the use of gas leak detectors in high-density human concentration zones.
For in-depth competitive analysis, buy now – https://www.persistencemarketresearch.com/checkout/4606
Explore PMR’s Extensive Coverage on Industrial Automation Domain –
Bandsaw Machine Market – Bandsaw machine market Segmented By Mitre, Circular, Ring, Straight Bandsaw Machines Cutting Type with Manual, Semi-Automatic, Fully-Automatic, CNC Bandsaw Machines Operation in Horizontal, Vertical Bandsaw Machines Orientation
Gardening Tools Market – Gardening Tools Market Segmented By Gardening Equipment, Garden and Lawn Tools with Shears and Pruning Tools, Striking Tools, Digging Tools Product
Checkweigher Machine Market – Checkweigher Market Segmented By 50 ppm to 150 ppm Checkweigher Machines Throughput Rate with 1kg to 6kg Above Capacity
About us: Persistence Market Research
Persistence Market Research
Address – 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – [email protected]