Gas Detection Device Manufacturing
Industry revenue has grown substantially during the past five years, although a recent downturn in energy prices has dampened the industry's fortunes. The health of downstream markets, including the oil and gas, mining and manufacturing sectors, and level of international demand largely determine demand for industry products. Operators in these markets use gas detection devices to monitor and prevent gas leaks. While demand from manufacturing has increased in line with the economic recovery, demand from oil, gas and mining sectors have been quite volatile. The next five years are expected to be largely positive for industry manufacturers. Downstream demand from oil, gas and mining companies will grow as energy and commodity prices rise. The industry will also benefit from new regulations regarding emissions from oil and natural gas wells. More stringent regulations will ultimately result in new and improved products from gas detection manufacturers to help downstream clients meet rising regulatory requirements.
This industry manufactures 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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