Global Study on Gas Leak Detector Market, 2020

Global Study on Gas Leak Detector Market, 2020

Persistence Market Research

Need to Increase Personnel Safety at
Industrial Units Drives Gas Leak Detector
Market : Persistence Market Research

Persistence Market Research


Global Study on Gas Leak Detector Market, 2020
According to a latest market study released by Persistence Market Research (PMR), the
global gas leak detector market is expected to rise at a 5.30% CAGR between 2014 and
2020. The report, titled “Global Market Study on Gas Leak Detector: Asia Pacific to
Witness Highest Growth by 2020”, states that the market will reach a valuation of
US$3,143.7 mn by 2020 increasing from US$2,312.2 mn in 2014.

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The report states that the global market for gas leak detectors is developing due to several
reasons. This includes stringent governmental norms pertaining to the safety standards of
domestic and industrial equipment that operate on gas, increasing commercial and
residential building development, and increasing investment in chemical and oil and gas
industries. However, intense competition due to low-profit margins and deferred investments
in oil and gas are posing a challenge for the growth of the global gas leak detector market.

Lately, some newer technologies have been used for gas leak detection purposes. This
includes artificial neural network technology and utilization of internet of things (IoT), adds
the report.

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Gas leak detectors are devices that can detect the presence of gases in surrounding air with
the help of technologies such as electrochemical, ultrasonic, and infrared. These devices are
installed to detect toxic and flammable gases for safety purposes.

The report categorizes the global gas leak detector market on the basis of applications,
technology, product type, and geography.

Gas leak detectors are mainly of two types -...