Description
The global gas sensors, detectors, and analyzers market is estimated to have revenue of $4.7 billion in 2025, and the market is expected to grow at a CAGR of 3.8% between 2018 and 2025. A growing awareness of gas-related dangers in the workplace are driving the adoption of gas sensors, analyzers, and detectors, especially in the oil and gas, chemicals and petrochemicals, and metals and mining industries. Technology innovation is key to staying ahead in the highly competitive market.
The total gas sensors, detectors, and analyzers market is a highly competitive market consisting of products such as sensors, wired gas detectors, wireless gas detectors, fixed gas detectors, portable gas detectors, and gas analyzers. The market is vast and mature, and no company is the clear leader across all of these product segments.
However, many companies operate in more than one or all of these product segments and have established themselves as holistic gas sensing, detection, and analyzing solution providers.
End users are continuously looking for complete gas detection solutions rather than just devices. End users find greater value in innovative solutions that not only fulfill their gas sensing and detection needs, but also provide them with complete visibility and critical business information.
Because the market is mature and leading market players offer similar product and solution offerings, innovation is a key competitive factor. Additionally, market leaders are focusing on inorganic growth to expand their product portfolio and customer base.
Of the more than 200 companies in this market, 30 have demonstrated innovation and growth strategies that have resulted in superior performance. These companies are broadly classified into three categories:
• All companies scoring very high on both growth and innovation are well-known industry leaders that have a history of being at the forefront of innovation and appear on the top-right section of the radar.
• Companies scoring high on innovation but delivering lower growth appear on the bottom-right section of the radar. This list of companies includes leaders as well as new entrants.
• The third group of companies includes those implementing some level of innovation. This results in slower growth compared to the other two groups.
The report discusses the performance of the leading 30 companies in the gas sensors, detectors, and analyzers market space. These companies are analyzed and rated based on the Growth Index and Innovation Index. According to the ratings, the Frost Radar report acknowledges companies that have exhibited high growth and innovation. The comprehensive company profile and analysis of the leading 30 companies is provided in the report along with the Radar chart.
The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.
Author: Nandini Bhattacharya
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