Rapid adoption rate and growing preference for gas leak detectors will create lucrative market opportunities for manufacturers operating in the APEC region during the next eight years. Further, convenience of mobility coupled with ease of handling offered in latest gas leak detectors is expected to fuel their demand across various industrial domains” – PMR
Persistence Market Research (PMR) in its latest outlook titled “Gas Leak Detectors Market: APAC Industry Analysis and Forecast, 2016-2024,” projects that the gas leak detectors market in APAC is set to witness a pronounced growth, expanding at a CAGR of 5.9% in terms of value over the forecast period (2016-2024). The market is expected to be governed by trends such as development, adoption and use of advanced technologies such as Internet of Things (IoT) and artificial neural network technology, becoming more prevalent over the forecast period.
For detailed insights on enhancing your product footprint, request for a Sample Report here https://www.persistencemarketresearch.com/samples/13756
PMR’s report delivers key insights on APAC gas leak detectors market, which is foreseen to reach US$ 1,647 Million by the end of 2024. The market growth will be primarily driven by the expansion of key end user industries such as oil & gas, chemicals and petrochemicals. In addition, increasing natural gas exploration activities and setting up of numerous oil refineries in the region is projected to drive the market during the assessment period. Gas leak detectors are being rapidly installed in residential and commercial vicinities, which is further anticipated to influence the growth of APAC gas leak detectors market in the near future. Also, healthy penetration of emergency systems in ASEAN countries and India is translating into higher demand for gas leak detectors.
Demand for Portable Gas Leak Detectors Expected to Gain Maximum Traction over 2024
Based on product type, portable gas leak detectors is expected to register the highest growth in terms of value, witnessing a 6.2% CAGR over the forecast period. The segment is set to gain around 130 basis points by the end of 2024.
On the basis of technology type, the electrochemical segment is projected to command for a significant value share of the market by closing end of the assessment period.
Due to a sturdy expansion of chemicals and petrochemical sectors, gas leak detectors will find broader application in such industries. Hence, the industrial application segment will grow steadily throughout the projected period.
Request For Methodology of this Report here https://www.persistencemarketresearch.com/methodology/13756
APAC Gas Leak Detectors Market: Country Wise Projection
In 2015, China accounted for the predominant share of the market in terms of value attributed to the strong presence of major end use industries in the country. The market in Chine is expected to maintain its leading position throughout the forecast period. Meanwhile, markets in India and in ASEAN countries is anticipated to register stout growth. Japan will continue to be the second largest market for gas leak detectors in APAC region and is likely to witness a relatively slower growth over the same period.
- Honeywell International, Inc.
- Emerson Electric Co.
- Thermo Fisher Scientific Inc.
- Drägerwerk AG & Co. KGaA
- General Electric
- United Technologies Corporation
- Tyco International plc.
- Industrial Scientific
- New Cosmos Electric Co. Ltd.
For in-depth competitive analysis, Check Pre-Book here https://www.persistencemarketresearch.com/checkout/13756
Our unmatched research methodologies set us apart from our competitors. Here’s why:
- PMR’s set of research methodologies adhere to the latest industry standards and are based on sound surveys.
- We are committed to preserving the objectivity of our research.
- Our analysts customize the research methodology according to the market in question in order to take into account the unique dynamics that shape the industry.
- Our proprietary research methodologies are designed to accurately predict the trajectory of a particular market based on past and present data.
- PMR’s typical operational model comprises elements such as distribution model, forecast of market trends, contracting and expanding technology applications, pricing and transaction model, market segmentation, and vendor business and revenue model.
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. PMR’s collaborative environment is committed to building industry-specific solutions by transforming data from multiple streams into a strategic asset.
305 Broadway, 7th Floor
New York City, NY 10007
E-mail id- email@example.com