The latest market research report by Technavio on the global wireless gas detection marketpredicts a CAGR of close to 6% during the period 2017-2021.
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Technavio has published a new market research report on the global wireless gas detection market from 2017-2021. (Graphic: Business Wire)
The report segments the global wireless gas detection market by end-user (oil and gas industry, chemical and petrochemical industry, power generation industry, and metals and mining industry), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global wireless gas detection market, according to Technavio industrial automation researchers:
- Rise in shale gas production: a major market driver
- In 2016, the oil and gas industry dominated the market by occupying almost 30% share
- The Americas dominated the global wireless gas detection market with 37% share in 2016
- Drägerwerk, Honeywell, Johnson Controls, MSA, and United Electric Controls are the leading players in the market
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Rise in shale gas production: a major market driver
In countries such as US, Russia, Iran, Qatar, Canada, China, Norway, and Saudi Arabia the increased shale gas production is driving the adoption of wireless gas detection products and solutions. Gas emission problems have significantly reduced due to the deployment of wireless gas detection solutions in real-time monitoring across industries, thus safeguarding plant and industrial assets. Demand for safety tools like wireless gas detection products in shale gas production is also increasing due to the need to ensure strict compliance with government mandates and workplace safety.
Key users of wireless gas detection products in shale gas production plants consists of countries such as the US, China, Nigeria, and Iran. For example, the onshore shale oil and gas operations are progressing at a rapid rate in the US, which will drive the growth of the wireless gas detection market in the country.
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The Americas: largest wireless gas detection market
In the Americas, North America is likely to find increased use for wireless gas detection products and solutions in industries, such as the oil and gas, chemical and petrochemical, power generation, and water and wastewater industries. Intensifying the distribution networks in developing countries such as Mexico, Brazil, Chile, and Argentina, is expected to be the focus point of OEMs and manufacturers of wireless gas detectors from the US, which will drive the growth of the market in the Americas. The North American market for wireless gas detection products is seeing increased competition with the entry of players from China and other Asian countries, which will curtail the growth of the leading manufacturers.
According to Raghav Bharadwaj Shivaswamy, a lead analyst at Technavio for research on automation, "The adoption of wireless gas detection is rising due to the increasing productivity of shale reserves in the US and Canada. In South America, the growth in remote gas monitoring applications across countries such as Brazil, Argentina, and Venezuela, is driving the wireless gas detection market. The growth in the manufacturing sector in Latin America will further boost the sales of latest wireless gas detection products and solutions and this will strengthen the revenue for the market in the Americas."
Competitive vendor landscape
In terms of product features, prices, and monitoring services offered, the competition between vendors in the global wireless gas detection market is highly fragmented. The sale of wireless gas detectors takes place through direct and indirect sales via suppliers, regional players, and certified distributors. Expanding markets geographically and increase in production capacities through mergers and acquisitions are the main growth strategies being adopted by established vendors. The high brand value and expertise in remote and real-time monitoring techniques encourage end-user industries to rely on established vendors of wireless gas detection solutions.
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