China Gas Detector Equipment Market By Sensor Type (Ultrasonic Sensor, Electrochemical Gas Sensors, Infrared Sensors, And Others), By Product Type, By End-Use Application, And By Region - Forecast From 2020 To 2029
26th July 2019
- find_in_page Our Research Methodology is based on the following main points:
- Data Collections and Interpretation
- Data Validation
- Final Projections and Conclusion
The China Gas Detector Equipment Market is expected to expand at a CAGR of 7.8% and is projected to reach a value of more than US$ 0.6 Bn in 2029. The China gas detector equipment market report has been segmented on the basis of sensor type, product type, end-use application, and region/ zone.
Gas detector equipment is a toxic-detection device that measures presence of emissions and combustible gasses, check oxygen depletion, detects gas leak in a location or vicinity, and acts as a safety measure. In an industrial set up, this equipment can co-ordinate with process control system so as to automatically shut the machine down, in case of any leak. In case of any leaks, gas detector can work as an alarm, and give opportunity to leave the area.
Dynamics: China Gas Detector Equipment Market
Rising demand for oil & gas globally is resulting in increasing drilling activities, and this is one of the primary and major factors driving growth of the gas detector equipment market in China. For instance, according to the annual report released by the China Petroleum and Chemical Industry Association (CPCIA), China is the largest importer and consumer of crude oil. China’s consumption was 11.5 Mn barrels of crude oil per day, in 2016. Increasing initiatives by government to cater to ongoing demand for oil & gas through FDI, implementing policies, and innovative product developments are some of the other factors projected to propel growth of the oil & gas market, and, in turn, support growth of the China gas detector equipment market in the years to come. China National Petroleum Corporation is expected to invest over US$ 22.1 Bn in Xinjiang Autonomous Region in order to boost production of oil & gas in the region. This is expected to boost oil production to over 50 Mn tons between 2018 and 2020. Increasing awareness regarding hazards of gas leaks and rising need for safety measures to prevent accidents are other factors driving the adoption of gas detectors in China. Organizations such as the China Refrigeration and Air Conditioning Industry Association (CRAA), Occupational Safety and Health Administration (OSHA), and several other government regulations and norms pertaining precautionary measures for maintaining the health of workers and employees in manufacturing industries are some factors expected to fuel growth of the gas detector equipment market in China. Rising demand for ensuring workers’ safety across various industries including oil and gas, mining, food processing, as well as increasing need monitoring combustible gases and chemical agents in oil & gas industry is another factor propelling demand for gas detector equipment. Rising adoption of the products by various industries, due to stringent government rules and regulations concerned with environmental safety, is projected to fuel growth of the China market.
Entry of new players in the market offering competitive prices has compelled established players to offer products at reduced prices too, thereby hampering their profit margins, resulting in decline in investment in the market during the forecast period. In addition, high cost of gas detector equipment and lack of awareness among small and medium enterprises are major factors may hamper growth of the target market over the forecast period.
Segment Analysis: China Gas Detector Equipment Market
Insights by Sensor Type:
The electrochemical gas sensors segment is expected to account for major revenue share in the China gas detector equipment market. The infrared sensors segment is projected to register highest CAGR of more than 8.5% over the 10-year forecast period.
Insights by Product Type:
Among the product type segments, the fixed gas detectors segment is projected to record largest share in terms of revenue over the next 10 years. The portable gas detectors segment is projected to witness highest growth rate of over 7.9% in the China market.
Insights by End-use Application:
Based on the application segments, the industrial segment is expected to record highest share in terms of revenue in the target market, and is projected to register highest CAGR of over 8.3%. The oil & gas segment is projected to follow the industrial segment in terms of revenue share and CAGR.
Region/ Zone Analysis: China Gas Detector Equipment Market
Mainland China market is expected to record highest revenue share in the China market, and is projected to witness highest growth at the rate of over 7.7% over the next 10 years. The Hong Kong market is projected to account for second-highest revenue share over around 4% in the China market and register second-highest CAGR.
Recent Developments in the Market:
Honeywell International Inc. (Year 2018)
- Contracts/Agreements; In March, the company signed an agreement with Cardinal Midstream to deliver modular cryogenic equipment for processing natural gas at Iron Horse Gas Processing Complex in Grady County, Oklahoma, the US.
- Contracts/Agreements; In March, Honeywell partnered with International Airlines Group (IAG), to reduce carbon emissions.
- Contracts/Agreements; In August, Honeywell entered into an agreement with Hubei Sanning Chemical Industry to provide its Honeywell UOP’s Polybed Pressure Swing Adsorption technology to supply high-quality hydrogen to monoethylene glycol plant at Zhijiang in China’s Hubei Province.
- New Products/Services; In August, Honeywell introduced a new line of addressable smoke and heat detection devices for the upcoming building code changes and to improve fire detection.
- Acquisitions/Mergers/Takeovers; In September, Honeywell announced the acquisition of Ortloff Engineers, Ltd.
- Contracts/Agreements; In October, the company and Federal Electricity & Water Authority signed a MoU for development and green economy enterprises in the UAE’s Northern Emirates.
- Contracts/Agreements; In October, Honeywell entered into a collaboration with Fetch Robotics to provide autonomous mobile robots to the distribution centers.
- Contracts/Agreements; In October, Honeywell Aerospace and Duncan Aviation entered into a new Parts Reclamation Engine Surplus contract to provide assistance to buy, inspect, repair and recertify serviceable engine parts.
- Corporate Changes/Expansions; In June, the company rebranded its Transportation Systems business as Garrett - Advancing Motion.
China Gas Detector Equipment Market Segmentation:
Segmentation based on Sensor Type:
- Ultrasonic Sensor
- Electrochemical Gas Sensors
- Infrared Sensors
- Semiconductor Sensors
- Other Sensor Types
Segmentation based on Product:
- Fixed Gas Detectors
- Portable Gas Detectors
Segmentation based on End-use Application:
- Oil and Gas
- Building Automation
- Other Applications
Segmentation based on Region/ Zone:
- Mainland China
- Hong Kong
- MSA Safety Incorporated (Mine Safety Appliances Company)
- Siemens AG
- Drägerwerk AG & Co. KGaA
- Emerson Electric Co.
- California Analytical Instruments, Inc.
- Honeywell International Inc.
- ABB Ltd.
- AMETEK, Inc.
- Fortive Corporation (Industrial Scientific Corp.)
- Trolex Ltd.
- Chapter 1 China Gas Detector Equipment Market Overview
- 1.1 Introduction
- 1.2 Segmentation for Greater China Gas Detector Equipment Market, based on Sensor Type, Product Type, Application, and Country
- 1.3 Drivers for Greater China Gas Detector Equipment Market:
- 1.4 Restraints for Greater China Gas Detector Equipment Market:
- 1.5 Opportunities for Greater China Gas Detector Equipment Market:
- 1.6 Trends for Greater China Gas Detector Equipment Market:
- 1.7 Macro-economic Factors
- 1.8 Technology Road Map
- 1.9 Opportunity Map Analysis
- 1.9.1 Optimistic Scenario
- 1.9.2 Likely Scenario
- 1.9.3 Conservative Scenario
- 1.10 Opportunity Orbits
- 1.11 Regional Market Share and BPS Analysis of China Gas Detector Market
- Chapter 1 China Gas Detector Equipment Market Overview
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