South East Asia
Gas Detection Device Market: Snapshot
The intake of gas detection devices across a number of industries has
significantly increased in countries across the South East Asia
region in the past few years. The higher emphasis of companies on
health and safety aspects of human resources working in areas that
are highly vulnerable to hazardous reactions during manufacturing and
industrial processes is fueling the rate of installation of a variety
of safety measures. Of the variety of measures undertaken in this
regards, installation of gas detection devices has emerged as one of
the most essential safety measure in industries such as mining,
petrochemical, marine, security, and government.
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The demand for gas detection devices has also increased in South East
Asian countries owing to the rising number and stringency of safety
regulations and acts. Governments in countries such as Singapore and
Malaysia have imposed stringent regulations with regards to
occupational health and safety across industries. The increased need
for facility downtime in South East Asian countries has also
significantly boosted the demand for smoke detection devices in the
past few years.
Transparency Market Research estimates that the demand will continue
to be strong in the next few years as well. The market for gas
detection devices in South East Asia is expected to exhibit a
promising 9.2% CAGR from 2017 to 2025, rising from a valuation of
US$155.6 mn in 2016 to US$337.6 mn by 2025.
Demand for Gas Detection Devices in Petrochemicals Industry to
Remain Strong
In terms of the key areas of application, the report segments the
South East Asia gas detection device market into mining, steel mill,
petrochemical, construction, automobile, material, food and beverage
making and processing, electronics, marine, utility services,
government, security, medical, and environment detection.
Applications across the materials segment have been examined for
materials such as fiber, glass, rubber, and pulp.
Of these, the petrochemical segment contributed the dominant share in
the revenue of the global market in 2017. The segment is expected to
account for a significant 20.5% of the overall market in the said
year. The petrochemical segment was followed by marine, utility
services and mining segment. In 2017, the marine, utility, and mining
segment collectively contributed nearly 39% of overall gas detection
device market in South East Asia. In addition, the automobile and
materials segments are expected to exhibit a healthy CAGR during the
forecast period.
Singapore to
Remain at Forefront of Growth
Of the key country-level markets for gas detection devices in South
East Asia examined in the report, Singapore dominated, accounting for
over 51% of the overall market in 2016. The strong growth of the
Singapore market is primarily attributed to the thriving
petrochemical and marine industries in the country. Large companies
have established different manufacturing businesses in the country to
exploit the vast growth opportunities offered when its economy was
emerging. In the largely mature and developed economy in the present
times, boasting well-established industrial and manufacturing
segments, Singapore will continue to remain one of the key regional
markets for gas detection devices over the forecast period.
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The market in Malaysia is anticipated to exhibit a significant CAGR
of 9.8% over the forecast period. In Malaysia, the detector segment
is expected to contribute to the largest market share in 2017 and it
is anticipated to expand at a healthy CAGR over the forecast period.
Strong presence of oil refinery and crude oil industry is one of the
primary reasons for the growth of gas detection devices market in
Malaysia. Indonesia also shows positive growth opportunities over the
forecast period. Rising investments and projects developed across oil
and gas industry is expected to be one of the primary reasons for the
growth of gas detection device market in Indonesia.
Some of the key players engaged in gas detection device market in
South East Asia are Honeywell International, Inc., MSA Safety
Incorporated, Drägerwerk AG & Co. KGaA, Industrial Scientific
Corporation, Riken Keiki Co., Ltd., New Cosmos Electric Co., Ltd.,
and Gastron Co., Ltd.
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