Gas Leak Detector Market to expand at a healthy CAGR of more than 5%

Global sales of gas leak detector systems are expected to grow 4.8% in 2021, with sales of over 6,690 thousand units. Persistence Market Research analysis projects the global gas leak detectors market to expand at a healthy CAGR of more than 5% over the forecast period of 2021-2031.

A critical factor driving the sales of gas leak detectors market size is increasing focus on risk management and prevention on the back of rapid industrialization. Other demand drivers include accurate detection and monitoring technologies in industrial settings and commercial spaces across various countries. While measures are laid to ensure personnel and property safety, gas leak detectors are regarded as viable candidates toward risk prevention.

Fixed gas leak detectors are poised for lucrative growth over the forecast period. They have been developed over the years to include ultrasonic detectors, and use at large hydrogen plants, continuous hydrogen production, and other industrial facilities.

The U.S. is positioned as the top nation in the global market, with the highest market value share. Demand in the U.S. will increase at over 4% CAGR over the next ten years. In 2021, the market in Japan grew by 3.9% year-on-year, bucking initial skepticism about how the market would perform during a global pandemic.