New Gas Detection Equipment Market Research Highlights Recovery Path for Businesses from COVID-19 based on Products - Fixed and Portable Products | Technavio
The new Gas Detection Equipment Market Research from Technavio indicates Neutral and Inferior in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Gas Detection Equipment Market 2020-2024 (Graphic: Business Wire)
"One of the primary growth drivers for this market is the growing production volume of shale gas," says a senior analyst for Industrials at Technavio. Owing to the continuous advances in the extraction technologies, the production of shale gas has increased considerably in the US. Similarly, emerging economies, including China, have been contributing to the overall shale gas production significantly in recent years. Also, China has started one of the most significant shale gas projects in the country, named Fuling shale gas project. The rising shale gas production from economies, including the US, Russia, Qatar, Canada, Saudi Arabia, Norway, and others, has further fueled the adoption of gas detection products and solutions. The gas detection equipment is allowing all the stakeholders of several end-user industries to minimize casualties while increasing the safety measures. Consequently, the rapid adoption of shale gas will drive the gas detection equipment market. As the markets recover Technavio expects the gas detection equipment market size to grow by USD 1.06 billion during the period 2020-2024.
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Gas Detection Equipment Segment Highlights for 2020
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