According to a recently collated Fact.MR report, sales of gas detection equipment will increase at a CAGR of 4.6%, in terms of volume, between the period 2017 and 2026. Innovation in technology, which leads to product premiumization, is expected to pave opportunities for the market. Vendors across the globe are introducing innovative technologies, such as portable gas detection equipment, which facilitate utilization and calibration. Revenues from worldwide projections of hazardous gas detection equipment are likely to exceed US$ 1,900 Mn by 2026-end.
Advancements in technology, such as the internet of things (IoT) and artificial intelligence (AI), have influenced the development of smart gas detection equipment. There is high demand for smart gas detection equipment on the back of their additional features beneficial for customers, along with the requirement for relatively lower maintenance. Smart gas detectors offer the convenience of being operated through applications in tablets or smartphones, which includes an alert notification feature that enables taking necessary action on time. In addition, companies manufacturing gas detection equipment are introducing innovative concepts, with the focus on enhancing the sensitivity and efficiency of sensors in the detection of harmful gases. High sensitivity CO and smoke detectors give appropriate early warning, thereby enabling prompt investigation, control, and action prior to thoughtful damage. Leading players in the global gas detection equipment market are also concentrating on integration of sensors that are capable of detecting multiple gases.