Market Research Report
Western European Gas Detection Equipment Market, Forecast to 2023
|Published by||Frost & Sullivan||Product code||774787|
|Published||Content info||178 Pages
Delivery time: 1-2 business days
|Western European Gas Detection Equipment Market, Forecast to 2023|
|Published: January 8, 2019||Content info: 178 Pages||
Enforcement of Stringent Regulations and Cost-competitive Technologies will Drive the Growth in the Market
The demand for gas detection equipment in the Western European market is augmented due to the stringent regulations enforced by regulatory bodies. The compliance level across end users has increased over the years and it is expected to improve in the future. Inorganic growth through acquisitions in the market remains active and the consolidation trend is expected to continue during the forecast period. Wireless detectors are now considered as an attractive option that can replace traditional fixed-gas detectors. These detectors enable to monitor workers remotely on a real-time basis. However, their infrastructure cost remains a major bottleneck for end users to adopt them at their facilities.
The total revenue generated by the gas detection equipment market in 2018 was €665.0 million. The market is expected to grow at a CAGR of 3.1% from 2018 to 2023.
The market is segmented into fixed gas detection equipment, portables gas detection equipment and detector tubes.
By product segments, fixed detectors contributed €306.0 million and the revenue share in percentage was 46.0% in 2018, while, portable detectors contributed €328.0 million and their market share was 49.3%. Detector tubes accounted for the rest of the €31 million or 4.7% of the total revenue generated by the gas detection equipment market.
Within the fixed gas detection equipment segment, a gradual shift in preference from catalytic to infrared sensors will be observed during the forecast period. This is due to the underperformance of catalytic sensors in oxygen-deficient areas.
The demand for portable gas detectors is expected to increase during the forecast period. This is owing to their key benefits such as compact size, light weight, and mobility. Improved sensor quality and better battery performance are key features that end users are looking for to reduce their total cost of ownership.
In terms of end-user industries, oil and gas, chemicals and petrochemicals and water and wastewater treatment are the three main industries that generate the highest revenue for gas detection equipment in the region.
Germany, the UK and the Republic of Ireland, and France are as the key revenue generating markets within the Western European region, contributing 63% of the total revenue generated by the market. Other potential countries within the region where demand is expected to get stronger are Scandinavian countries, Italy, and Benelux.
Draeger, Honeywell, and MSA are the key participants in the market. These three manufacturers contributed 55.7% of the total market revenue generated in the region. All manufacturers experience intense pressure on margins due to surging competition from global and local manufactures.