Global Oil & Gas Industry Segment Expected to Expand at a CAGR of 5.5% between 2019 and 2027: Industry Probe


According to a new market report published by Industry Probe (www.industryprobe.com) titled Gas Detection Equipment Market (Product– Fixed Gas System and Portable Gas System; Gas Type –Combustible, Oxygen, and Toxic; Technology – Single Gas Detection and Multi-gas Detection; End-use Industry – Oil & Gas, Chemicals & Specialty Chemicals, Mining, Water Treatment, Building Automation & Construction, Food & Beverages, Power Generation/Utilities, and Others; Distribution Channel – Online and Offline)) – Global Industry Dynamics 2018-19, Trends and Forecast, 2020–2027)),’ the global gas detection equipment market is expected to reach US$ 5,671.33 Mn by 2027 and expand at a CAGR of 4.9% from 2019 to 2027.
The report has segmented the gas detection equipment market into product, gas type, distribution channel and geography. Based on end-use industry, oil & gas is expected to hold a dominant share in the global gas detection equipment market and maintain its market share during the forecast period. Fixed and portable gas detectors are used in oil refineries, crude oil pipelines, and processing plants to detect the concentration of a wide range of hazardous combustible and toxic gases across the oil & gas Industry. In the oil & gas industry, gas detectors are installed in downstream, midstream, and upstream processes in order to protect plants and personnel from the risks of hazardous and toxic gases.
Rising concerns about employee safety along with implementation of stringent laws for mandatory use of protective equipment by regional regulatory bodies is expected to drive the demand for gas detection equipment in the oil & gas industry. Furthermore, huge investments in different industrial sectors for mega projects such as oil & gas, mining, and construction across the globe is expected to boost the demand for gas detection equipment in the coming years. Rapid growth in oil & gas pipelines industry is expected to increase the demand for gas detection across the oil & gas industry during the forecast period. Presence of numerous onshore oil and gas terminals is expected to drive demand for gas detection equipment during the forecast period.
The global oil & gas demand is driven by the growth in the Eastern region especially China, India, and Southeast Asia. Strict laws and regulations are projected to increase the demand for gas detection equipment during the forecast period. In North America, the rapid expansion of shale gas, shale oil, and oil sand projects along with increase in the strength of employees owing to the high pay levels is expected to boost gas detection equipment in the oil & gas segment. Some of the major players covered under the scope include Riken Keiki Co., Ltd, Industrial Scientific Corporation, Drägerwerk AG & Co. KGaA, MSA SAFETY INCORPORATED, Honeywell International Inc, RAE Systems Inc., Emerson Electric Co, Sensor Electronics Corporation, Trolex Limited, and SENSIT Technologies.
About Us
Industry Probe is a global market intelligence and advisory firm with an unwavering purpose to help businesses achieve strategic objectives through a varied range of offerings. Based on a unique amalgamation of our big data technology and human intelligence, our services are dedicated to serve the businesses operating in the consumer goods and industrial machinery sectors. Our offerings comprises syndicated research, strategic consulting & advisory services, competitive intelligence, and full time engagement to bring true & actionable insights into our clients’ business environment. Combining research & technology adoption, playing the perfect mix of the best data, and centered on consumer goods & industrial machinery sectors, Industry Probe believes in targeting one industry at a time.
Contact
1441 Broadway, 6th Floor – # 6131
New York, NY 10018
Contact: +1-917-985-8551
Email: sales@industryprobe.com
Website: https://www.industryprobe.com/





Comments

Post a Comment

Popular posts from this blog

Global Olive Market – Industry Analysis and Forecast (2020-2028) – by Key Vendors, Market Outlook

Image
Black olives are a great source of vitamin E, which has an excellent capability to neutralize free radicals in body fat. Particularly when working with the steady monounsaturated fats found in olives, vitamin E can make cellular processes more reliable. the processes such as mitochondrial energy creation are not well protected, the free radicals produced can cause oxidation, damaging a cell's mitochondria, and preventing the cell from producing enough energy to supply its needs. If the DNA of a cell is damaged, it may well mutate and become cancerous. As per the study, a diet supplemented with olive oil leads to a lower risk of colon cancer, almost as low a risk as a diet rich in fish oil. These are the factors driving the global olive market . Black olives are very high in iron. The strength of red blood cells to carry oxygen throughout the body is due to the presence of iron in the blood. The lack of iron causes tissues to inadequate oxygen, which makes the body cold and weak. Ir
Read more

Tanning Products Market– Industry Insights, Revenue Generation, Growth and Forecast By 2028

Image
Tanning is a process to darken to tan the skin colour, which is a result of exposure to ultraviolet (UV) radiation from sunlight or artificial sources like tanning products. Consumers are actively utilizing self-tanning products to get a natural tan through indoor home sessions. While outdoor tanning processes are time-consuming, harmful, and discomforting, professional tanning services are expensive. Because of this backdrop, the demand for self-tanning products continues to gain traction. Increasing awareness about skin cancer and lifestyle changes are anticipated to boost the global market for tanning products shortly. Due to harmful UV rays from sunbathing, and its risk for causing skin cancer and skin issues, tanning products are improved to avoid such risk which is a factor for the growth in sales. Moreover, tanning products unlike sun tanning provide even and instant tanning. These products also come in several shades, which is significantly contributing to the growth of the gl
Read more

Sports Supplement Market Trends, Size, Share, Status, Analysis And Forecast To 2028

Image
Sports supplement is comprised of a nutritional diet with regards to improving people's athletic performance. Sports supplements are regarded as dietary supplements that are taken by mouth to support the diet. Progress of participation in sports with other fitness activities and increased health care spending is expected to boost the global market for sports supplements . Sports supplements are essentially consumed by athletes, and the evolution in lifestyle has led to enhanced adoption of sports supplements by lifestyle consumers. Thus, this growing demand is significantly managing the growth of the sports supplements market. Market players are focusing on the adoption of organic and natural ingredients in the product development and expanding the distribution channel, which is expected to increase the demand across the globe. This rise in consumer demand for organic or natural products and the desire of producers to replace synthetic, non-organic ingredients with natural variants
Read more