Growing Demand for Smoke Detectors in Commercial and Industrial Spaces to Mitigate Fire Hazards is Leading to growth of Global Gas Equipment Market in the forecast period of 2019 to 2026

Global gas equipment market is projected to register a substantial CAGR of 5.1% in the forecast period 2019 to 2026. The new market report contains data for the historic year 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.

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Drivers: Global Gas Equipment Market 

  • Growing demand for smoke detectors in commercial and industrial spaces to mitigate fire hazards
  • Increasing demand of gas storage tanks in oil & gas industry

Restraint

  • Stringent safety and environmental regulations for gas equipment

Opportunity

  • Green building concept to boost gas equipment demand

Challenge

  • Gas leak occurrence due to faulty gas equipment

Market Trends:

Global gas equipment market is segmented into four notable segments which are by equipment type, process, gas and end-user.

  • On the basis of equipment type, the market is segmented into gas delivery systems, gas regulators, flow devices, purifiers & filters, gas generating systems, gas detection systems, cryogenic products and accessories. The gas delivery systems segment is projected to hold the largest share of the global gas equipment market.
  • On the basis of process, the market is segmented into gas generation, gas storage, gas detection and gas transportation.
  • On the basis of gas, the market is segmented into nitrogen, hydrogen, helium, oxygen, carbon dioxide and others.
  • On the basis of end-user, the market is segmented into metal fabrication, chemicals, healthcare, oil and gas, food and beverage and others.

Major Players: Global Gas Equipment Market 

Some of the major players operating in this market are Rexarc International, Inc., Hannay Reels Inc., Filtration Group Corporation, Donaldson Company, Inc., Colfax Corporation, PARKER HANNIFIN CORP, John Wood Group PLC, Air Liquide, Messer Group GmbH, GCE Group, Camfil, Linde, Johnson Thermal Systems, GDS Inc., Aerzen, Freudenberg Filtration Technologies SE & Co. KG, ENOTEC, Universal Industrial Gases, Inc., LP-Gas Equipment Inc., Bry-Air, Inc., American Air Filter Company, Inc., Air Products and Chemicals, Inc., Matheson Tri-Gas, Inc., Itron Inc. and Iwatani Corporation.