Wireless Gas Detection Market With COVID-19 Impact by Technology, Offering, Application, and Geography - Global Forecast to 2025 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Wireless Gas Detection Market with COVID-19 Impact by Technology (Wi-Fi, Bluetooth, Cellular, License-Free Ism Band), Offering (Hardware (Detectors/ Sensors, Gateways, Monitors and Controllers), Software, Services), Application, and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The wireless gas detection market was valued at USD 1,644 million in 2019 and is projected to reach USD 1,937 million by 2025; it is expected to grow at a CAGR of 4.8% during the forecast period.

The cost-effectiveness increased safety, and portability of wireless gas detection devices and the time- and money-saving easy installation of wireless gas detection systems are the key factors driving the growth of the wireless gas detection market.

Oil & gas to hold the largest size of wireless gas detection market during the forecast period

The market for oil & gas accounted for the largest size in 2019. In the oil & gas industry, gas detection is required for various applications such as confined space entry, emergency response, fence line monitoring, fracking, leak detection, plant shutdown, and worker exposure. Refining facilities involve the use of lubricating oil, wax, and fuel products such as jet fuel gasoline and diesel, all of which pose a health hazard for workers. Moreover, workers in the oil & gas industry are exposed to hazardous substances such as carbon monoxide, hydrogen sulfide, ammonia, methane, and chlorides, which are released during the process of oil extraction.

Industrial safety application to hold the largest share of wireless gas detection market in 2020

The market for the industrial safety application is estimated to account for the largest share of the overall wireless gas detection market in 2019. As safety is a top priority in most industries, a wide range of safety equipment are installed in these industries. Industrial chemicals and gases are prone to leaks and spills; their mismanagement can harm employees or workers, as well as manufacturing facilities, and disrupt production schedules. Wireless gas detection systems embedded with man-down alarms and GPS signals alert operators before an incident occurs and alert workers in advance. The various applications of wireless gas detection solutions in industrial safety include emergency response, fence line monitoring, leak detection, plant shutdown, and incident response.

North America to dominate wireless gas detection market, in terms of size, in 2019

In terms of value, North America led the wireless gas detection market in 2019, accounting for the largest share of the overall wireless gas detection market, by region. In recent years, the wireless gas detection market has witnessed significant growth in oil & gas and chemicals industries in North America. This growth is attributed to the increasing need for the security and safety of workers working in environments where they are constantly exposed to toxic gases. Moreover, the growing need to prevent industrial accidents caused by undetected gas leakage, and the increasing pressure from insurance companies for ensuring safety are encouraging industries to install wireless gas monitors.

Market Dynamics

Drivers

• Cost-Effectiveness, Increased Safety, and Portability of Wireless Gas Detection Devices
• Real-Time Detection, Dependability, and Feasibility of Wireless Detection Systems to Monitor Industrial Plants from Remote Locations
• Time- and Money-Saving Easy Installation of Wireless Gas Detection Systems
• Increased Adoption of Industrial Internet of Things Technology in Manufacturing
• Increased need for Wireless Detection Systems Due to Growing Focus on Environment Safety

Restraints

• Data Security and Privacy Issues Related to Wireless Communication Devices

Opportunities

• Growing Use of Wireless Gas Monitoring Systems in Oil and Gas Drilling and Exploration Activities

Challenges

• Difficulty in Execution and Planning of Oil and Gas Projects Due to Outbreak of Covid-19, Which, in Turn, Would Decrease Demand for Wireless Gas Detectors
• Issues Such As Complexity and Difficulty in Following Constantly Changing Standards Faced by Wireless Gas Detection System Designers
  

Companies Profiled

• Honeywell International Inc.
  
• Drgerwerk Ag & Co. Kgaa
  
• Yokogawa Electric Corporation
  
• Siemens
  
• Msa Safety Incorporated
  
• Agilent Technologies Inc.
  
• United Electric Control
  
• Sensidyne, Lp
  
• Teledyne Gas & Flame Detection
  
• Pem-Tech, Inc.
  
• Airtest Technologies Inc.
  
• Crowcon Detection Instruments Ltd.
  
• Otis Instruments, Inc.
  
• Tek Troniks Ltd
  
• Emerson Electric
  
• Ambetronics Engineers Pvt. Ltd.
  
• GDS Corp
  
• Bacharach
  
• Onebee
  
• Gastronics

For more information about this report visit https://www.researchandmarkets.com/r/8xx7gj