The global gas detectors market is expected to show significant growth in the following years. The growth of the gas detector market is attributed to increase in the application of detectors in buildings, automation systems, and industries like oil & gas and mining. The demand for gas detection systems is stoking up due to increasing investments by makers in the development of good and integrated gas detectors with wireless technology such as Bluetooth, Wi-Fi, Wi Max, Zigbee, HART Protocol, and computer science.
Market Scope and Structure Analysis
Gas detectors are also known as sensors, and they are electronic devices that detect and identify different types of gases. They are commonly used to detect toxic or explosive gases and measure their gas concentration. Gas detectors can be used to detect combustible, flammable & toxic gases, and oxygen depletion. Gas detector devices are widely is used in industries such as an oil rigs, oil & gas, and mining.
Covid-19 Impact Analysis
- The COVID-19 pandemic has shut down the production of various products in the gas detectors market, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of the gas detectors market significantly in the last few months, as is likely to continue during 2020 and as situation in 2020 was different from 2021.
- The COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to have a negative impact on the market’s growth throughout the year.
- The major demand for equipment and machinery was previously noticed in giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of the coronavirus, thereby halting the demand for equipment and machinery.
- Further, the potential impact of the lockdown is currently vague, and the financial recovery of companies is totally based on their cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
- Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19 infection cases start declining.
Top Impacting Factors
The significant factors impacting the expansion of the global gas detector market include increasing use of gas detectors with in the oil & gas and mining industries, emerging demand for gas detectors in consumer electronics, and favorable government regulations regarding the utilization of gas detectors. However, high initial cost of the detectors acts because the major barrier for its adoption, thereby hampering the expansion of the market. On the contrary, growing trends toward the Internet of Things (IoT) and rise in demand for sensors within the development of smart cities are anticipated to provide lucrative opportunities for the gas detector market during the forecast period.
Market Trends
- The growing demand for gas monitoring amenities to note the presence of harmful gases is additionally anticipated to witness constant gas detector equipment market growth, particularly within the industrial segment. The implementation of IoT in the oil & gas industry has resulted in superior field communication, real-time monitoring, and digital oil field infrastructure with reduced maintenance costs, lower power consumption, higher productivity, and increased asset and workforce safety & security. For example, gas wastage could be a critical issue that has to be countered.
- In the current IT-dominated world, people are moving toward automation-based solutions and services. This has led to increased targets for IoT based devices owing to their innovative and advanced applications. IoT is a technology that can provide internet or internetworking for almost any application, including smartphones, microwaves, refrigerators, defense & military, healthcare, and buildings.
Key Benefits of the Report
- The study includes an analytical portrayal of current and emerging trends to identify potential investment opportunities in the gas detectors market.
- A detailed analysis of key drivers, restraints, and opportunities in the gas detectors market is shown in this study.
- The current market is a quantitatively anal market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
- The report provides a detailed gas detectors market analysis based on competitive intensity and how the competition will take shape in the coming years.
Gas Detectors Market Report Highlights
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