Portable Gas Detection Equipment Market Trends

Growth Drivers

• Growing air pollution across the globe: According to the United Nations International Children’s Emergency Fund, air pollution was the second leading risk factor for death among children under 5 in 2021. Various countries are using gas detection systems to measure and display the presence of gases in the air. Gas detection equipment is extremely useful in monitoring air quality and is installed in vehicles, factories, and mines.

• Rising incidences of gas leakage: According to the U.S. PIRG Education Fund a gas pipeline incident occurs in the U.S. almost every 40 hours. It has been estimated there are more than half a million leaks in local gas distribution systems in the country. Additionally, the International Energy Agency (IEA) estimates that more than 260 billion cubic meters of gas was wasted globally in 2021 due to venting, flaring, and leaking. Governments are using practices to curb these incidents. Hence, the demand for the installation of gas detection equipment is estimated to spike.

Challenges

• High cost of portable gas detection equipment and sensors: Portable gas detection equipment is quite expensive to install and the middle-class population is projected to find it difficult to install this equipment in their households. Additionally, most people are not aware of the equipment leading to less purchase of the device.

• Reduced investment due to low-profit margins: It has been estimated that there are low-profit margins are obtained by the portable gas detection equipment market players. This leads to lesser investments from the market players. Also, there are stringent regulations related to the distribution of the equipment.