Apr 18 2014
Research and Markets has announced the addition of the "Global Gas Detection Equipment Market 2014-2018" report to their offering.
The analysts forecast the Global Gas Detection Equipment market to grow at a CAGR of 4.41 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increased government regulations for improving safety. The Global Gas Detection Equipment market has also been witnessing the growing use of wireless gas sensors. However, the price erosion affecting the market erosion could pose a challenge to the growth of this market.
The report, the Global Gas Detection Equipment Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the APAC and EMEA regions, and the Americas; it also covers the Global Gas Detection Equipment market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Industrial processes have become riskier for workers with the advancement in technology. Many gases such as carbon monoxide, ammonia, fluorine, chlorine dioxide and others are released during the manufacturing process. Any human contact with these gases can be detrimental to health. Wireless gas detectors allow for the remote detection of these gases so that they can be monitored from a distance and controlled in case of leakage. Hence, wireless gas detectors are increasingly used in areas such as mining, industrial processes, building technology, and households to improve safety and prevent mishaps.
According to the report, one of the major drivers in this market is the increase in government safety regulations. Air pollution is affecting people's health both inside and outside manufacturing premises. Therefore, laws and policies have been formulated to control the emission of harmful gases from these plants.
Further, the report states that one of the major challenges in this market is price erosion due to intense competition among vendors. Attracted by the big opportunities in the market, many new vendors with innovative technologies are entering the market. This has led to price wars, price erosion and lower prices of gas detection equipment.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Source: http://www.researchandmarkets.com/