Product ID: UCMIG20D2153
Report ID:
UCMIG20D2153 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The market for gas leak detectors on a global scale was valued at USD 4.73 billion in 2022, with projections indicating a growth to USD 7.61 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 6.2% between 2023 and 2030. Gas leak detectors are devices employed to analyze and supervise the existence of dangerous gases like toxic or inflammable gases in a given area. Governments' heightened initiatives to enforce stringent emission regulations for operators of industrial facilities have motivated the installation of these detectors, promoting continuous monitoring of day-to-day operations within these facilities.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Electrical Components & Equipment by segment aggregation, the contribution of the Electrical Components & Equipment in Capital Goods and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG20D2153