The wireless gas detection market has demonstrated strong growth, rising from $2.13 billion in 2023 to $2.3 billion in 2024, representing a CAGR of 8.0%. This growth is driven by industrial safety regulations and increased concerns for workplace safety. By 2028, the market is projected to reach $3.1 billion, with a CAGR of 7.7%, as demand for IoT integration in gas detection continues to rise.
Major Driver In The Wireless Gas Detection Market
The escalating demand for wireless gas detectors within the chemical industry is set to drive the growth of the wireless gas detection market. Wireless gas detection systems continuously monitor toxic and combustible gases in the atmosphere to provide early warnings, enhancing worker safety, particularly in chemical plants. The American Chemistry Council's report, Chemical Industry Situation and Outlook, highlighted in June 2022, projects significant growth in the United States' chemical output, marking the most substantial increase in over a decade in 2022. Following a 1.6% rise in 2021, chemical output is expected to surge by 2.4% in 2023. The robust demand and restocking efforts drive a notable 6.2% increase in specialty chemical production in 2022. Capital expenditures in 2022 surged by 12.3% to $34.5 billion and by 5.5% to $36.4 billion in 2023. Thus, the increasing adoption of wireless gas detectors by the chemical industry propels the growth of the wireless gas detection market, evident in the market size estimations for 2023, 2024, and 2028.
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Wireless Gas Detection Market Competitive Landscape
Siemens AG, Honeywell International Inc., 3M Company, AMETEK Inc., Sensit Technologies, AirTest Technologies Inc., MSA Safety Incorporated, Sensirion AG Industrial Scientific Corporation, Beijing SDL Technology Co Ltd., Crowcon Detection Instruments Ltd., Comstack Ltd., RKI Instruments Inc., United Electric Control Co, California Analytical Instruments Inc., Aeris Environmental Ltd., Drägerwerk AG & Co KGaA, Yokogawa India Ltd., Detector Electronics Corporation, RAE Systems Inc., Pem-Tech Inc., Tek Troniks Ltd., Ambetronics Engineers Pvt Ltd., Global Detection Systems Corp, Otis Instruments Inc., Teledyne Gas and Flame Detection, New Cosmos Electric Co Ltd., Trolex, International Gas Detectors, GfE Gesellschaft für elektronische Messgeräte GmbH
Key Wireless Gas Detection Market Trend
Product innovation is a key trend gaining popularity in the wireless gas detection market. Major companies operating in the wireless gas detection market are focused on developing innovative products to strengthen their position in the market. In September 2022, Blackline Safety Corp, a Canada-based company that provides wireless worker safety monitoring products, launched innovative connected single-gas detection. The single-gas detection is an intelligent solution that makes use of the most recent cellular Internet of Things (IoT) connectivity. It offers enhanced benefits such as longer battery life, cheaper cost of ownership and fewer false alarms. More significantly, it enables safety experts to access the reliable information they require to manage their safety policies, processes and continuing compliance more effectively and efficiently.
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Wireless Gas Detection Market Segmentation
The wireless gas detection market covered in this report is segmented –
1) By Type: Hardware, Software, Services
2) By Technology: Wi-Fi, Bluetooth, Cellular, License-Free ISM Band, Other Technologies
3) By End User: Oil And Gas, Chemical And Petrochemicals, Mining And Metals, Discrete Manufacturing Industry, Commercial Buildings And Public Facilities, Other End Users
By Geography:The regions covered in the wireless gas detection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the wireless gas detection market in 2023.
The Wireless Gas Detection Global Market Report 2024 furnishes information about the global wireless gas detection market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
