South East Asia Gas Detection Device Market Analysis | Coherent Market Insights - PowerPoint PPT Presentation

View by Category
About This Presentation
Title:

South East Asia Gas Detection Device Market Analysis | Coherent Market Insights

Description:

Read here the latest updates on the "South East Asia Gas Detection Device Market " published by CMI team – PowerPoint PPT presentation

Number of Views:27

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: South East Asia Gas Detection Device Market Analysis | Coherent Market Insights


1
  • Coherent Market Insights
  • Market Research and Business Consulting Services
  • https//www.coherentmarketinsights.com/
  • COVID-19 Impact Tracker

2
SOUTH EAST ASIA GAS DETECTION MARKET ANALYSIS
  • South East Asia Gas Detection Device Market, By
    Type (Fixed and Portable), by Device (Detector,
    Transmitter and Controller), By Application
    (Mining, Steel Mill, Petro Chemical,
    Construction, Automobile, Material, Food
    Beverage Processing, Electronics, Marine, Utility
    Services, Government, Security, Medical and
    Environment Detection) and by Country (Singapore,
    Malaysia, Indonesia, Thailand, Vietnam, Myanmar,
    Brunei, Philippines and Rest of South East Asia)
    - Size, Share, Outlook, and Opportunity Analysis,
    2020 2027.

3
  • The South East Asia Gas Detection Device Market
    was valued at US 194.1 Mn in 2019 and is
    forecast to reach a value of US 408.5 Mn by 2027
    at a CAGR of 9.7 between 2020 and 2027. 

4
Market Drivers
  • Strict regulatory policies regarding workplace
    safety are expected to drive growth of the South
    East Asia gas detection device market during the
    forecast period
  • Many countries in South East Asia have enforced
    stringent regulations related to the safety of
    workers at the workplace. These regulations are
    intended to provide ample safety in working
    conditions. For instance, Malaysia, Singapore,
    and Brunei have legislated the Occupational
    Safety and Health Act of 1994, The Workplace
    Safety and Health Act 2006, and Safety and Health
    Order 2009, respectively, for occupational health
    and safety of workforce across industries.
    Furthermore, countries such as the Philippines
    have focused on National Occupational Safety and
    Health (OSH) frameworks by imposing legislation
    and labor standards. Hence, these factors are
    expected to drive growth of the market during the
    forecast period.

5
  • Rising demand for remote monitoring and reduced
    operational expenses is expected to propel the
    South East Asia gas detection device market
    growth over the forecast period
  • Gas detection devices offer constant monitoring
    of work areas and the detection of hazardous
    gases in the environment. It allows organizations
    to decrease health and safety risks by monitoring
    and detect gases beforehand. Furthermore, gas
    detection devices are expected to reduce the time
    needed for the assessment of gases by removing
    manual monitoring of the potential explosion of
    gases in the area. With rising adoption of work
    safety equipment in numerous countries are
    focused on the design and development of gas
    detection controllers to monitor remote gases,
    which further trigger audio or visual alarms to
    alert the risk. Hence, these factors are expected
    to propel the South East Asia Gas detection
    device market growth in the near future.

6
  • Singapore held dominant position in the South
    East Asia gas detection device market in 2019,
    accounting for 50.8 share in terms of value,
    followed by Malaysia, Indonesia and Thailand
    respectively.
  • Figure 1 South East Asia Gas Detection Device
    Market Share (), in terms of Value, By Region,
    2019

7
Market Restraints
  • Reduced profit margins are expected to restrain
    growth of the South East gas detection device
    market during the forecast period
  • There is intense competition in the market due
    to the presence of new entrants and competitive
    price strategies by players. The detector,
    transmitters, and controllers are products that
    are offered by manufacturers on similar lines.
    Product uniqueness is less as the functioning of
    these components is relatable. Penetration
    pricing strategy has reduced profits obtained
    from products and services. Thus, these factors
    are expected to restrain growth of the South East
    Asia gas detection devices market during the
    forecast period.
  • Technical issues and cost factors are expected to
    hinder the South East Asia Gas detection device
    market growth over the forecast period
  • There are several issues regarding the
    functioning of gas detection devices. These
    challenges include faulty readings, frequent
    failures, etc. Repairing and maintaining
    operations require skilled personnel. Thus, these
    factors are expected to hinder the market growth
    over the forecast period.

8
(No Transcript)
9
Market Opportunities
  • Increasing foreign direct investment (FDI) in
    green-field projects can present lucrative growth
    opportunities
  • Gas detection devices are experiencing high
    demand from Greenfield projects. In a Greenfield
    project, all the parts and facilities are built
    from scratchavailable or ready infrastructure is
    not used. Greenfield projects are completely new
    and independent of any previous work done. As
    stated by the Asian Development Bank (ADB), 39
    of all the infrastructure deals (from 2010 to
    2015) were Greenfield developments. Greenfield
    projects represented two-thirds of the total
    projects in South East Asia and the Pacific
    region. For instance, according to the World
    Investment Report published by United Nations
    Conference on Trade and Development (UNCTAD)
    based in Switzerland in 2015, FDI Greenfield
    projects across South East Asia have increased by
    9.6.

10
  • Development gas detectors with advanced
    technologies can provide business opportunities
  • The rapid development in technologies has
    resulted in the introduction of advanced and
    innovative products in the Gas Detection Device
    market. Technologies such as cloud computing and
    wirelessHART are integrated with gas detectors to
    enhance the detection points or area coverage.
    Moreover, it reduces the overall cost of
    installation by the elimination of fixed wiring
    costs. Many gas detector manufacturers are
    developing wireless gas detectors, in order to
    deliver effective solutions across remote and
    local gas detection applications. For instance,
    United Electric Controls based in Watertown,
    Massachusetts, the U.S. has its distributors in
    Singapore, Indonesia, and Malaysia. It offers gas
    detectors with wirelessHART technology across the
    gas detection applications, especially for oil
    gas production facilities.

11
  • Figure 2 South East Asia Gas Detection Device
    Market Value (US Mn), 2017 - 2027

12
Market Trends
  • Trends by product type
  • Adoption of gas detection transmitters by rising
    industry verticals Gas detection producers in
    South East Asia are focusing on capturing
    potential industries such as food and beverages,
    utility services, mills, and other sectors such
    as environment and transportation. These
    industries are massively focusing on adopting gas
    detection devices which include detectors,
    transmitters, and controllers to monitor and
    control the emission of hazardous gases. Apart
    from this, companies are providing detection
    sensors that are far from the transmitters and
    yet are capable of identifying hazardous gases.
    The multiple-channel feature of transmitters is
    adding to the adoption of transmitters across the
    country.
  • Trends by application
  • Growing adoption of gas detectors in marine and
    oil gas industries Increasing activities in
    the petrochemical industry, particularly in the
    offshore and oil gas sector boosting the demand
    for effective gas detectors across South East
    Asia. Moreover, the demand for enhanced and
    modified gas detectors is increasing, and driving
    oil gas companies to upgrade or replace their
    existing gas detectors. Apart from this, the
    adoption of gas detectors in the marine industry
    is growing owing to the policies and regulations
    provided by the International Maritime
    Organization (IMO). The use of gas detectors by
    shipbuilders and ship owners is increasing, in
    order to provide safety to the crew members from
    hazardous and toxic gases on board.

13
Value Chain Analysis
  • Raw material and hardware components are the
    major inputs for the gas detection device market.
    Hardware components may include but are not
    limited to integrated circuits, gas sensors,
    display, electrical, and electronic parts, along
    with connectivity components such as wires and
    docking boards. The quality of raw materials and
    hardware components plays a vital role in
    improving the efficiency and performance of
    devices. Manufacturers buy quality raw material
    from suppliers to produce durable and reliable
    components, ensuring that products meet the
    required standards. Moreover, manufacturers buy
    raw materials from single or more than one
    supplier in order to ease the supply chain
    management cycle.

14
South East Asia Gas Detection Device Market -
Impact of Coronavirus (Covid-19) Pandemic
  • Due to Covid-19 pandemic, many industries
    witnessed significant shift in their business.
    There is significant impact on gas detection
    market, as operations were shut down in most of
    the manufacturing industries in South East Asian
    countries to reduce the spread of COVID-19
    pandemic. As the operations in the petrochemical
    industries halted owing to COVID, the demand for
    gas detection devices, which are majorly used in
    petrochemical industry, decreased. During
    Covid-19, automotive industry witnessed
    significant drop in the sale of vehicles. For
    instance, according to Coherent Market Insights,
    the sale of the domestic vehicle have reduced to
    6.9 in 2020.

15
Competitive Section
  • Major companies operating in the South East Asia
    Gas detection device market are Honeywell
    Analytics, Gastron Co., Ltd., Mine Safety
    Appliances, New Cosmos Electric Co., Ltd.,
    Drägerwerk AG Co. KGaA, Riken Keiki Co., Ltd.,
    and Industrial Scientific Corporation.

16
Key Developments
  • Major companies in the market are focused on
    mergers and acquisitions, in order to gain a
    competitive edge in the market. For instance, in
    December 2019, Honeywell Analytics acquired
    Rebellion Photonics, a U.S.-based provider of
    innovative visual gas monitoring solutions.
  • Key market players are involved in product
    development, in order to expand the product
    portfolio. For instance, in January 2019, New
    Cosmos Electric Co., Ltd. developed a
    battery-powered methane detector.

17
  • Request Sample Report
  • Request Customization
  • Download PDF Brochure
  • Talk to Analyst
  • Reference https//www.coherentmarketinsights.com/
    market-insight/south-east-asia-gas-detection-marke
    t-3935

18
About Us
  • Coherent Market Insights is a global market
    intelligence and consulting organization focused
    on assisting our plethora of clients achieve
    transformational growth by helping them make
    critical business decisions.
  • What we provide
  • Customized Market Research Services
  • Industry Analysis Services
  • Business Consulting Services
  • Market Intelligence Services
  • Long term Engagement Model
  • Country Specific Analysis

19
Contact Us
  • Mr. Shah
  • Coherent Market Insights Pvt.Ltd.
  • Address 1001 4th Ave, 3200 Seattle, WA 98154,
    U.S.
  • Phone 1-206-701-6702
  • Email sales_at_coherentmarketinsights.com

20
  • Thank You!
  • Kindly follow CMI Social Media
    Profiles for the latest company updates
  • Facebook
  • Linkedin
  • Twitter
  • https//www.coherentmarketinsights.com/
About PowerShow.com