A study published this week by Transparency Market Research (TMR) has projected the international gas detection market to be valued at US$3.3mn by 2022 due to ‘rising popularity of natural gas detectors’, according to TMR
Detectors in commercial and manufacturing industries are used to monitoring safe percentage amounts of gases, protecting the safety of employees and workers, while also ensuring the quality of goods.
TMR researchers noted that the industry’s equipment market is ‘highly competitive’ but players will benefit from higher demand.
Honeywell has released a new system that claims to offer 64 channels of gas detection. However, it has chosen to market this new gas detection system, Touchpoint Pro, to what it sees as ‘small and midsized operations’, differing wildly from its competitors who cater for large scale factories and processing plants.
Offering ‘flexible architecture’, Honeywell stated that the system can be built to customer requirements, allowing for a centralised or distributed system. It seems the market will grow up, as the forecast predicts but it will also grow out. It is clear gas detection systems will become more widespread, but TMR research cannot predict exactly how much market expansion gas detection systems will receive by 2022, with small and midsized operations being encouraged to install.
TMR has warned that while the concern for occupational safety will fuel the market, its research warns that in the future, “the global gas detection equipment market will be suppressed by the price erosion”.
As gas detection becomes readily available to more industries and is catered towards smaller manufacturing plants, it faces a wave of market growth yet a danger of price erosion to cater for this smaller and more financially constrained market.
Honeywell said that its gas detection products were ‘suited to cater to a range of industries such as oil; gas, pharmaceutical, and building automation.’
