The government's increased emphasis on worker safety is contributing to the market's rise. Another factor boosting market development is the increasing usage of the internet of things (IoT)
Covid-19 Impact & Market Status
The report analyzes the impact of the COVID-19 lock-down on the revenue of industry leaders, followers, and disruptors. Because lockdown was applied differently in different regions and nations, the impact varies by location and segment. The paper has addressed the present short and long-term market effect, which will assist decision-makers in preparing an outline for short and long-term plans for organizations by region.
The Oil & Gas Segment is Likely to Rise with the Substantial Revenue in the Coming Years
In historic years the oil and gas market accounted for the most revenue. Gas detection is required in the oil and gas sector for a variety of applications such as emergency response, restricted space access, fence line monitoring, leak detection, fracking, worker exposure, and plant shutdown. Lubricating oil, wax, and fuel products such as gasoline, jet fuel, and diesel are all used in refining plants, posing a health risk to employees. Furthermore, personnel in the oil and gas business are exposed to harmful compounds emitted during the oil extraction process, such as hydrogen sulfide, ammonia, carbon monoxide, chlorides, and methane.
The Industrial Safety Segment is Likely to Rise with the Significant Share throughout the Forecast Timeframe
Previously, the industrial safety application is expected to account for the lion's share of the wireless gas detection market. Because safety is a major concern in most businesses, a wide range of safety equipment is installed. Industrial gases and chemicals are prone to spills and leaks; improper handling can endanger personnel or workers, as well as interrupt production schedules and industrial facilities.
The Hardware Segment is expected to Grow with the Largest revenue in the Predicted Timeframe
Because to the technical developments in the hardware sector, such as fast processing rates and component shrinking, the hardware segment is predicted to increase rapidly in the next years.
The Wi-Fi Segment is Projected to Grow with the Maximum Revenue throughout the Prediction Period
Owing to the rising usage of Wi-Fi in enterprises and industrial facilities, the wireless gas detection market for Wi-Fi technology is predicted to develop rapidly. With improved communication options, Wi-Fi technology enables efficient and safe industrial operations. Improved Wi-Fi connectivity capabilities with other devices boost segment expansion in the wireless gas detection market.
North America is likely to be Elevated Growth Potential Market for the Market in the near Future
North America dominated the market in terms of share earlier, accounting for the substantial part of the market. The wireless gas detection market in North America has risen dramatically in recent years, particularly in the oil and gas and chemicals sectors.
This increase can be ascribed to the growing requirement for the security and safety of people who operate in locations where they are continually exposed to harmful gases. Furthermore, the rising need to prevent industrial mishaps caused by undiscovered gas leaks, as well as increased demand from insurance companies to ensure safety, are driving enterprises to install wireless gas monitors.
Rising awareness of the importance of workplace safety will drive an increase in demand for wireless gas detection systems. The growing number of mishaps at industrial plants has provided even more profitable growth potential for the wireless gas detection industry
Wireless gas detection is a process that detects the existence of a gas in an environment. It is a component of a safety system that detects hazardous and explosive gas leaks in an enterprise. In most cases, the detector is linked to a control system that immediately shuts down the process in the event of a leak or an emergency. These systems identify real-time safety and security threats to assist minimize risk and protect workers, contractors, the general public and industrial assets. Wireless gas detection detects gas leaks with great precision, adaptability, and dependability, preventing significant industrial accidents. The wireless gas detection market is expected to increase by USD 3.2 billion at a CAGR of 5% in the coming future.
The chemical industry's increasing usage of wireless gas detectors is a significant driver driving growth in the worldwide wireless gas detector market. Furthermore, rising improvements in sensor technology with different safety features required by water treatment plants, oil and gas, and other industries are likely to drive growth in the worldwide wireless gas detection market. The extensive use of gas detectors for industrial and environmental safety is projected to drive the worldwide wireless gas detector market.
Growing environmental safety concerns among enterprises, increased acceptance of the Industrial Internet of Things Technologies trend, and creative technical advances are some of the factors driving the market growth during the projection period. On the other hand, security risks associated with wireless technology, as well as high usage costs, are some of the limitations impeding market expansion.
With developments in sensor technology and safety solutions, suppliers' focus on speeding sensor reaction time leads to market growth. Past disasters (the Chernobyl accident and the Bhopal gas tragedy) compelled international governments to establish safety rules for gas leak detection. This leads to an increase in market investment, which promotes growth. The growing worry about detecting the number of dangerous gases produced and abating them propels this business forward. However, the high cost of developing these wireless detection systems continues to limit the market's expansion.
Rising security threats and worries, on the other hand, will put a damper on the wireless gas detection market's development pace. Furthermore, the high prices connected with wireless gas detection technologies will limit the scope of expansion. Weak technology infrastructure in low and middle-income nations will also provide a hurdle to the market's growth pace.
The major players covered in the wireless gas detection market report are Emerson Electric Co., Agilent Technologies, Inc., Yokogawa India Ltd., Honeywell International Inc., Siemens, Crowcon Detection Instruments., Pem-Tech, Inc., United Electric Controls., Teledyne Technologies Incorporated., Drägerwerk AG & Co. KGaA, Sensidyne, LP, and Tek Troniks Limited. This research report conducts competitive analysis for each service providers individually.
Latest Innovations in the Global Wireless Gas Detection Market: a Snapshot
- Sierra Monitor Corporation, a leading producer of FGFD (fixed gas and flame detection) sensors and IIoT (Industrial Internet of Things) solutions, was acquired by MSA Safety Incorporated in May 2019. Sierra Monitor technology is commonly used in wastewater treatment facilities, light industry, transportation infrastructures, and HVAC applications.
- United Electric Controls revealed that its Vanguard WirelessHART gas detector is now HART Registered in March 2020. The HART communication protocol, a digital communications technology utilized in process industries, is used by over 40 million field instruments globally. The FieldComm Group owns the HART standards and is responsible for specification development, training, and device registration.
The research also aids in understanding the dynamics and structure of the market by examining market segments by type, service, component, and region, as well as projecting the worldwide market size. The study also provides a detailed analysis of key competitors in the wireless gas detection market in terms of product, pricing, financial status, product portfolio, growth strategies, and geographical presence. The research also includes PEST analysis, PORTER's analysis, and SWOT analysis to help stockholders plan their efforts and investments in the near future for a certain market sector.
Wireless Gas Detection Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 3.2 billion|
|Growth Rate||CAGR of 5% during 2021-2028|
|Segment Covered||End-Use, Application, Offerings, Technology, Region|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Emerson Electric Co., Agilent Technologies, Inc., Yokogawa India Ltd., Honeywell International Inc., Siemens, Crowcon Detection Instruments., Pem-Tech, Inc., United Electric Controls., Teledyne Technologies Incorporated., Drägerwerk AG & Co. KGaA, Sensidyne, LP, and Tek Troniks Limited|
Key Segments of the Global Wireless Gas Detection Market
End-Use Industry Overview, 2018-2028 (USD Million)
- Utilities and Power Generation
- Commercial Buildings & Public Facilities
- Oil & Gas
- Water and Wastewater Treatment Plants
- Mining and Metals
- Discrete Manufacturing Industries
- Chemicals & Petrochemicals
- Government & Military
Application Overview, 2018-2028 (USD Million)
- Environmental Safety
- National Safety & Military Security
- Industrial Safety
Offerings Overview, 2018-2028 (USD Million)
Technology Overview, 2018-2028 (USD Million)
- License-free ISM band
- Cellular technology
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa