Global gas detection equipment market is expected to grow with a CAGR of 4.7% from 2019 to 2027 and expected to reach the market size of US$ 5.56 bn in 2027.
Mining, oil and gas, and constructions are some of the industries where a gas leakage can wreak havoc at the manufacturing facility. It leads into damage of workplace and can suffocate the workers to death. To reduce this risk, businesses are incorporating various safety measures that can come in handy during such emergency. However, the best protection for the workers is to have an early warning and real-time alerting solution. .
Asia Pacific Is the Largest Market
In terms of region, Asia Pacific accounted for the major share in the global gas detection equipment market. Growing industrialization in India and China is a key factor of this market growth. Furthermore, growing safety regulations, and stringent policies by the government to ensure the safety of the workers is also boosting the prominence of Asia Pacific in the global gas detection equipment market from 2019 to 2027.
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Increasing Product Adoption Rate Will Drive Gas Detection Equipment Demand
Companies are changing their safety norms to ensure the safety of their employees. This pursuit of safety is stimulating major adoption of several safety equipment. This factor is driving the adoption rate of gas detection equipment at global level. However, the demand for gas detection equipment has significantly spiked in recent years, especially in industries, where workers have to work in confined and hazardous spaces. This adoption is the major factor that is anticipated to boost the growth of global gas detection equipment market from 2019 to 2027.
Strict Government Regulation Will Boosts the Growth
Major factor driving the market growth is stringent regulations formulated by the governments of countries like the U.S. China, India, and the U.K. Furthermore, the growth of the market is also attributed to growing developments in mining, and oil & gas industries which require advanced gas detection equipment for the safety of the workers.