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Date Submitted: 07/29/2016 03:58 AM
Global Gas Detection Equipment Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 - 2023
Global Gas Detection Equipment Market To Hit US$ 3.70 Bn by 2023
According to a new market report published by Credence Research, Inc. “Global Gas Detection Equipment Market (By End-use Application (Commercial, Industrial (Manufacturing, Oil and Gas, Mining, Utilities, Automotive, and Others), and Residential), By Type (Fixed Gas Detection Equipment, Portable Gas Detection Equipment) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 - 2023”, the global gas detection equipment market is expected to expand at a CAGR of 6.2% from 2016 to 2023, reaching US$ 3.70 Bn by 2023.
Browse the full Global Gas Detection Equipment (By End-use Application (Commercial, Industrial (Manufacturing, Oil and Gas, Mining, Utilities, Automotive, and Others), and Residential), By Type (Fixed Gas Detection Equipment, Portable Gas Detection Equipment) Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023 report at http://www.credenceresearch.com/report/gas-detection-equipment-market
Market Insights
Gas detection equipment is a subset of a safety system used across multiple industries to detect the presence or leakage of gases in a confined area. Ideally, gas detection equipment is coupled with a control system to sound an alert for shutting down running operations. Thus, it is used to alert workforce regarding a potential risk of explosion or fire break due to possible gas leakage. While the deployment of gas detection equipment was predominantly limited to industry verticals such as oil and gas, mining, and utilities (water and waste water treatment), the advancements in technology have expanded their use in commercial as well as residential applications. Need for safety at workplace remains the overriding factor driving market growth in these segments.
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