Analysis of the North American Gas Detection Market
The gas detection market in North America generated revenue of $ million in 2014. It is a highly mature market, and its revenue is expected to grow at a compound annual growth rate (CAGR) of % from 2014 to 2019.
The market has been witnessing a significant price erosion in the past decade. This is mainly attributed to increasing competition, development of cost-competitive products, and the incorporation of new technologies.
The market is highly consolidated. In the past decade, it has witnessed an increase in mergers and acquisitions, the most recent being the acquisition of Industrial Safety Technologies by Scott Safety in December 2014.
The shale gas revolution had resulted in a significant increase in the number of oil and gas wells in the shale play regions of North America. This has directly increased the demand for gas detectors—particularly fixed detectors.
The market is mainly driven by growth of new, cost-competitive technologies and strong enforcement of regulations and standards.
The latest market trend is the shift towards service-oriented business models. Manufacturers also are offering features such as wireless communication and remote monitoring to give them a competitive edge.
About this report
This research service provides a detailed analysis of the gas detector market in North America, which for the purpose of this research consists of the United States and Canada. The scope of the study covers fixed gas detectors, portable gas detectors, and detector tubes. The study provides detailed insight about product revenue and forecasts, as well as market and technology trends. Key market drivers and restraints are described, with their impact determined throughout the forecast period. Key competitive factors are identified, as are the revenue shares of the top market participants. The study period is from 2011 to 2019; the base year is 2014.
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