HOME Research Insight Honeywell International Inc. (US) and Drägerwerk AG & Co. KGaA (Germany) are the Top Two Players in the Wireless Gas Detection Market

Honeywell International Inc. (US) and Drägerwerk AG & Co. KGaA (Germany) are the Top Two Players in the Wireless Gas Detection Market

The growth of the wireless gas detection market is driven by various factors such as the increasing demand for safety of workers and mitigation of risks in hazardous environments; low costs of wireless gas detection systems; and increase in environmental concerns.

The wireless gas detection market was valued at USD 1.07 Billion in 2016 and is expected to reach USD 3.01 Billion by 2023, at a CAGR of 16.03% during the forecast period. The market is driven by the North American region but major growth is projected for the Asia-Pacific region during the forecast period due to high growth opportunities for a wide range of applications such as industrial safety, environmental safety, and national security and military applications.

Some of the major companies operating in the global wireless gas detection market are Honeywell International, Inc. (US), Drägerwerk AG & Co. KGaA (Germany), Tyco Gas and Flame Detection (US), United Electric Controls (US), and PemTech Inc. (US).

Top two players in the wireless gas detection market:

Honeywell International Inc. (US):

Honeywell was one of the leaders in the wireless gas detection market, in 2016. The company has entered into several partnerships for the development of new technologies and product innovations. For instance, in October 2016, the company launched the AreaRAE Pro which is a wireless, transportable, GPS-enabled, multi-threat monitor. This product is developed by Honeywell RAE Systems which is a subsidiary company. AreaRAE Pro comprises seven sensors and an embedded GPS location identification, which gives critical information about a unit that is deployed, enabling responders to react to an incident with increased situational awareness. The company has strongly positioned itself with the help of new product launches.

Drägerwerk AG & Co. KGaA (Germany):

Drägerwerk AG & Co. KGaA focuses on new product developments and partnerships as a key strategy for the growth of their business and to strengthen the customer base. For instance, in 2015, the company acquired GasSecure AS (Norway) to manage research and development operations for wireless technology and innovative gas detection technologies. The company established its development and production facilities across various countries including Germany, the U.K., Sweden, the Netherlands, China, Czech Republic, South Africa, Brazil, and the US.

The stakeholders involved in the value chain of this market include Original Equipment Manufacturers (OEMs), gas detector manufacturers, software providers, service providers, government associations, and organizations related to wireless gas detection.

Related Reports:

Wireless Gas Detection Market by Technology (Wi-Fi, Bluetooth, Cellular, License-Free Ism Band), Type (Hardware (Detectors/ Sensors, Gateways, Monitors and Controllers), Software, Services), and Geography - Global Forecast to 2023

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