Over the projected period, the electrochemical category is anticipated to propel the growth of the APAC gas leak detectors market. In gas monitoring, protection, and remediation, electrochemical is frequently utilised. Gas Leak Detectors are highly sensitive, cumulative, stable, and resistant to concentrated gases. These benefits led to the development of gas leak detectors, which are now used to monitor and find dangerous and oxygen-containing gases. As a result, the APAC gas leak detectors market is anticipated to increase as a result of the need for gas leak detectors. The two markets that generated the most revenue in 2021 were China and Japan, and it is anticipated that they will continue to keep this position during the projected period. The expanding oil and petrol sector in these areas, along with increased pollution, are credited with driving market expansion. For instance, the oil and gas industry heavily utilises gas leak detectors in oilfields, pipelines, etc., which is anticipated to fuel demand for these devices over the projection period.
Coherent Market Insights estimates that the market for APAC Gas Leak Detectors was valued at US$ 1378.5 Mn in 2021 and is projected to reach US$ 2189.6 Mn by 2030, expanding at a CAGR of 6.2% between 2022 and 2030.
Prominent Companies in the APAC Gas Leak Detectors Industry:
1. Honeywell International, Inc.
The company was established in 1906 and is headquartered in North Carolina, United States. The company offers goods and services in the following areas: energy-efficient products and solutions, speciality chemicals, advanced materials, process technology. The first village, Fulgaon, that was redeveloped as part of the company's project, "Anand Gaon," was successfully finished in March 2023. The new premium range for the Indian market, Blenze Pro Wiring Devices, from Honeywell is introduced in March 2023.
2. Emerson Electric Co.
The business was established in 1890 and is based in Missouri, United States. The business produces goods and offers engineering services for the commercial, industrial, and consumer industries. To strengthen its position in the hydropower controls systems industry, Emerson bought American Governor Company on April 1, 2020.
3. Industrial Scientific
The business was established in 1985, with its headquarters in Pennsylvania, United States. Gas detection goods and services are offered by Industrial Scientific Company. Together with a gas detection rental programme, instrument repairs, and gas education services, the company also sells accessories for gas monitoring. Industrial Scientific released the Ventis Pro5's most advanced PID sensing technology in September 2022.
4. Thermo Fisher Scientific Inc.
The business was started in 1956 and has its headquarters in Massachusetts, United States. The business sells scientific equipment, reagents, and consumables, as well as software services. The company and Nordic Capital reached an agreement in October 2022 for the business to acquire The Binding Site Group, a British diagnostics company, for US$2.6 billion in cash. The transaction was finished in January 2023. Thermo Fisher Scientific stated in January 2021 that it had purchased Henogen SA, a maker of viral vectors in Belgium.
5. Tyco International plc,
The company was established in 1960 and has its headquarters in Cork, Ireland. The business provides systems to detect entry, control access, and respond to dangers like movement, fire, smoke, flooding, environmental conditions, industrial operations, and other threats. It also sells these systems and designs them. Tyco International provides its goods and services globally.
6. Drägerwerk AG & Co. KgaA,
The business was established in 1889 and has its headquarters in Lübeck, Germany. The business manufactures non-invasive patient monitoring technology, gas detection and analysis devices, and breathing and protective gear. Equipment for safety, aircraft, and medicine is produced by Draegerwerk AG & Company KGAA.
7. United Technologies Corporation,
The business was established in 1934 and has its headquarters in Connecticut, United States. It conducted research, created prototypes, and produced goods in a variety of industries, including aerospace systems, aviation engines. The separations of Otis Worldwide and Carrier Global were announced by United Technologies Corporation in March 2020.
*Definition: An instrument known as a gas detector can identify the presence of gases in a space. It is typically employed as a safety system component to find gas leaks or other pollution.
