Global Portable Gas Detector Market

Portable Gas Detector Market Analysis

The Global Portable Gas Detector Market is expected to register a CAGR of 5.4% during the forecast period.

• Safety measures for industrial gas processing is one of the critical factors driving the portable gas detectors market in industries like oil & gas and chemicals. Many oil & gas and chemical companies need to ensure that the emissions of various harmful gases meet the regulatory standards.
• Technological advances in gas detection and sensing are also creating new opportunities for the market. For instance, microelectromechanical systems (MEMS) and screen-printing techniques aid the development of miniaturized gas sensors and enable the integration of such gas sensors into many consumer devices, such as mobile phones and wearable devices.
• In addition, governments worldwide are increasingly setting targets to reduce the emission of greenhouse gases and are adopting stringent regulations to tackle emission rates. For instance, the EU has set itself a net-zero greenhouse gas emissions goal by 2050. Such developments are expected to further increase the adoption rates of gas detectors.
• Rising pricing pressure due to intense market competition is reducing the devices' average selling price, which acts as a major restraining factor for the market.
• The oil & gas industry, in which gas detectors are widely used, suffered a significant setback due to the supply chain disruptions caused by the COVID-19 outbreak, which negatively impacted the demand for these devices.

Portable Gas Detector Market Trends

Asia-Pacific Market to Grow Significantly

• China is one of the significant markets for gas detector equipment in the Asia Pacific. In recent years, dеmаnd fоr gаѕ dеtесtіоn еquірmеnts іn China is іnсrеаѕіng іn оrdеr tо mаіntаіn аіr quаlіtу, іdеntіfу dаngеrоuѕ gаѕеѕ, раrtісulаrlу іn соmmеrсіаl buіldіngѕ аnd аvоіd сrіtісаl ѕіtuаtіоnѕ оr іnсіdеntѕ.
• For instance, as a part of a new initiative to improve data quality and oversight, China is pushing many key industrial sectors and regions to take actions to measure greenhouse gas emissions. Under the pilot program, some of China's largest coal-fired power providers, steel mills, and oil and gas producers must develop comprehensive new greenhouse gas monitoring plans by the end of 2022. Such developments will accelerate the demand for gas detectors in the region.
• With increasing environmental awareness, many stringent regulatory policies, laws, and safety norms are being implemented in various industries, including chemical, pharmaceuticals, energy, petrochemicals, etc., across the Asia Pacific region to ensure a safe operational environment for personnel and property. For instance, according to the Australia/New Zealand standard AS/NZS60079.29.2:2008, it is mandatory to install a gas detector per work regulations, to detect flammable gases and oxygen. Such factors are supporting the market growth.
• Singapore has emerged as a primary hubs for the petrochemical industry due to the investments made by the major global players in this industry. The region has also been promoting initiatives for the reduction of carbon emissions.
• South Korea is continuously exposed to the threat of radioactive gas exposure due to the nuclear tests conducted by North Korea. North Korea has an active nuclear weapons program and has tested nuclear explosive devices. This is a primary factor contributing to the sales of gas detectors in South Korea, with many companies rolling out detectors to cater to such demands.

Oil & Gas Industry to Acquire Major Market Share

• Gas leak detectors are one of the integral devices in the oil and gas industry that are necessary to protect personnel and property hazards such as deadly, toxic, and combustible gases. Development of gas infrastructure pipelines, warehouses, and gas stations is expected to increase, owing to the growing demand for gas in the Asia-Pacific.
• Further, due to many government initiatives encouraging these devices, the Oil & Gas industry is expected to be one of the region's largest adopters of gas detectors. With the growing energy demand, the region is facing more significant challenges in securing the supply of energy resources to meet the domestic requirements of each economy.
• The APEC Oil and Gas Security Initiative (OGSI) aids economies in addressing the issue of energy supply security and dealing with the threats of possible supply shortages and emergencies. It has three significant pillars -- Oil and Gas Security Exercise (OGSE), Oil and Gas Security Network (OGSN), and Oil and Gas Security Studies (OGSS). Thus gas detectors are of paramount importance in these areas.
• India encourages national gas companies to implement innovations and new developments by establishing many policy objectives. One is Hydrocarbons Vision 2025, focusing on developing the hydrocarbon sector as a globally competitive industry by upgrading technology and building capacity.
• Further, as a part of its effort to reduce energy dependence on foreign sources, Japan aims to develop its first new offshore natural gas field in over three decades. Such developments will create new opportunities for the market in the region.

Portable Gas Detector Industry Overview

The global gas detectors market is moderately competitive due to many major players worldwide. With a prominent share in the market, these players are concentrating on expanding their customer base across foreign countries. These companies leverage strategic collaborative actions to improve their market percentage and enhance their profitability.

• May 2021 - Industrial Scientific launched the Tango TX2, a new two-gas monitor that increases site safety by allowing users to detect two gases with one small, reliable monitor. The Tango TX2 helps organizations reduce project shutdowns from false alarms, increase worker trust in gas monitors, and minimize time spent monitoring charging and maintenance.
• October 2021 - Honeywell introduced two new Bluetooth-connected gas detectors that can continuously monitor dangerous gases even in fog, rain, snow, and other inclement weather, which helps facilities keep their oil and gas, petrochemical, chemical, and other workers and industrial sites safe.

Portable Gas Detector Market Leaders

Portable Gas Detector Market News

• May 2022 - CO2Meter, a worldwide designer and manufacturer of high-quality gas detection, monitoring, and analytical solutions, announced the acquisition of GasLab.com, a provider of oxygen gas sensing and monitor technology, to further expand its capabilities in gas detection.
• April 2021 - ABB revealed its latest gas-detection system, HoverGuard, which is based on an unmanned aerial vehicle (UAV) and detects, quantifies, and maps leaks up to 300 ft from natural gas distribution and transmission pipelines, gathering lines, storage facilities, and other potential sources.