Gas Detection Device Manufacturing
The Gas Detection Device Manufacturing industry produces detectors used to measure various gases, including oxygen, carbon dioxide, carbon monoxide and nitrogen oxide. Overall, industry revenue has grown over the five years to 2019, although a decline in energy prices at the outset of the current period dampened further growth. The health of downstream markets, including the oil and gas, mining and manufacturing sectors, and level of international demand determine industry demand. However, demand from downstream sectors has been quite volatile over the past five years. As world oil and commodity prices dropped during the current period, demand from downstream industries also declined. Despite this, industry revenue still managed to expand during the current period. Over the five years to 2024, industry revenue is forecast to continue to rise. Operators will likely benefit from increased demand from oil, gas and mining companies, largely due to rising energy and commodity prices.
Operators in this industry manufacture gas detectors, which are used to detect the presence of gas within a particular area. These detectors are often used as a part of a broader safety system.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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