FMI: HiToxic Gas Detector Market Segments and Key Trends 2016-2026
It takes only one incident to put many lives in peril, when it comes to the exposure of gases. Fatal incidents in the facilities of Salem and Connecticut, as well as numerous other casualties in US are just few instances where gas detection systems failed.
In recent years, the threat posed by toxic and combustible gases to the safety of plant personnel and nearby communities has drawn much of attention to the common masses as well as the industrialists. The Pike River mine explosion in New Zealand was one of the several catastrophic accidents, which highlighted the industrial safety more prominently in the public consciousness and spurred demand for both safety systems and safety instrumentation like toxic and combustible gas detectors. Though the economic conditions are adverse as of now, the gas production companies cannot afford to comprise on safety. Hence, market for the gas detectors remains unaffected by the economic conditions. In fact, it happens to be growing with safety regulations becoming more and more stringent. Compliance with increasingly tough safety regulations will remain a major factor driving investment in safety systems and toxic gas detectors among oil & gas, refining, petrochemical and mining customers.
Process and manufacturing industries involve the use of various toxic and combustible gases including hydrogen sulfide and nitrogen dioxide. Continual monitoring the concentration of these gases using sensors supports in averting any possible mishaps. Hyperspectral and infrared cameras are among the newer technologies gaining wider acceptance in recent times.
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The reliability, accuracy and performance of any gas detector is affected by the environmental conditions it is subjected to. Humidity, pressure levels and temperature of the location, have a direct influence on the type of detector that should be selected. Additional factors such as potential variations resulting from diurnal/nocturnal fluctuations, production process itself and seasonal changes may also affect the type of detector apt for the application.
The toxic and combustible gas detectors market comprises hundreds of companies, with small niche suppliers and those with more product lines, systems and strong service capabilities. However, going forward one sees a strong trend towards consolidation. Large suppliers are acquiring small manufacturers to increase their market share. Acquisition helps them to expand product lines and foray into new markets by acquiring new technologies. The market is also observing new entrants through acquisitions.
HiToxic Gas Detector Market: Drivers & Restraints
Increasing concerns about occupational health and safety, increase in demand from oil & gas industry and regulations in developed economies like North America and Europe are some of the key factors driving the growth of the HiToxic gas detector market.
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Routine maintenance, associated costs, insensitivity and exclusivity of gas detectors for a particular gas, high initial purchase are few probable factors responsible for negatively impacting the growth of the HiToxic gas detector market.
HiToxic Gas Detector Market: Segmentation
The global HiToxic gas detector market is broadly classified on the basis of technology, applications and geographies.
Based on technology, the global HiToxic gas detector market is segmented into:
Nanotechnology metal oxide semiconductor (NTMOS)
Catalytic
Electrochemical
Infra Red absorption
Based on application, the global HiToxic gas detector market is segmented into:
Refineries / petrochemical
Chemical plants
Utilities
Wastewater treatment
Semiconductor plants
Personal monitoring
HiToxic Gas Detector Market: Overview
Though the economic recovery has slowed down in recent years, protection of human lives and assets is critical to all organizations. With stringent regulations and increasing safety concerns, the acceptance of HiToxic gas detector is gaining popularity. The global HiToxic gas detector market is expected to expand at a promising CAGR during the forecast period (2016-2026).
HiToxic Gas Detector Market: Region-wise Outlook
The global HiToxic gas detector Market is expected to register a double-digit CAGR for the forecast period. Depending on geographic regions, global HiToxic gas detector market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. As of 2015, North America dominated the global HiToxic gas detector market in terms of market revenue followed by Europe. Asia Pacific & Japan are projected to expand at a substantial growth and will contribute to the global HiToxic gas detector market value exhibiting a robust CAGR during the forecast period, 2015?2025.
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HiToxic Gas Detector Market: Key Players
Some of the key market participants in global HiToxic gas detector market are RKI Instruments Inc, Honeywell International, Det-Tronics, Sierra Monitor Corporation, Simtronics, Emerson Electric Co, General Monitors.