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3. Major market players adopting new product launches as key strategies to achieve growth

The key players in the global GASD market adopted the strategy of both expansions and certifications to increase their market share between 2011 and 2015. The increasing demand for GASD devices in oil & gas and chemicals, building & construction, healthcare, food & beverage, and increasing consumption of GASD in developed as well as developing markets such as U.S., U.K., Germany, France, the Netherlands, China, India, Malaysia, and Japan have encouraged companies to adopt this strategy. The players in the market have also actively participated in acquisitions to increase their market penetration.

 New product launches was the most preferred growth strategy adopted by market players between 2011 and 2015 accounting for a share of 69.0%, respectively, of all development strategies. The second-most preferred growth strategy adopted by manufacturers was mergers & acquisitions that accounted for 14.0% of the total development strategies as witnessed in the recent years in the GASD market. Expansions & agreements, the third-most preferred strategy adopted by the players in this market, accounted for 9.0% of all the strategies.

The major manufacturers such as Honeywell International, Inc. (U.S.), ABB Ltd. (Switzerland), General Electric Co. (U.S.), Emerson Electric Co. (U.S.), and Drägerwerk AG & Co. KGaA (Germany) are profiled in this report. These companies have adopted various organic and inorganic growth strategies such as expansions, new product launches & product developments, mergers & acquisitions, joint ventures & contracts, and agreements.

Honeywell International, Inc. (U.S.), ABB Ltd. (Switzerland), General Electric Co. (U.S.), Emerson Electric Co. (U.S.), Figaro Engineering Inc. (Japan), Ametek Inc. (U.S.), and Drägerwerk AG & Co. KGaA (Germany) are the most active players in the GASD market. These companies participated in maximum number of development strategies in the  GASD market, accounting for over 80.0% of the total market activities between 2011 and 2015.

Honeywell International, Inc. (U.S.) is the largest contributor to the overall developments recorded and is the leading company in the GASD market. The company follows organic growth strategies with new product development, capacity expansions, and agreements as the major growth strategies to enhance its presence in Europe, the U.S., China, among  other emerging economies. For instance, the establishment of its state-of-the-art technology center in Singapore, which explores the real world installation and use of GASD devices in the industrial environment. The diverse product portfolio of the company and technologically advanced R&D centers have also led to its innovation-driven growth, thereby accounting for a large share in the GASD market.

Figaro Engineering Inc. (Japan) is another major player that has established a strong foothold in the GASD market especially in the Asia-Pacific region. The company has a broad and diversified GASD and technology product portfolio, which ensures consistent growth in the  GASD market. The company is focused mainly on organic growth strategies. For instance, Figaro launched its new, highly accurate, and low power NDIR CO2 module, CDM7160. This analyzer can be used in environments where the CO2 concentration is normally high, for instance, in hospitals. These strategies have helped the company to enhance its technical expertise and expand its regional as well as global reach in the GASD market.

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