New Regulation Could Drive Growth In $4.1 Billion Gas Leak Detection Market

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Air conditioners Kota Bharu Malaysia. (Photo by: Andrew Woodley/Education Images/Universal Images … [+] Group via Getty Images)

Education Images/Universal Images Group via Getty Images

Global warming and the pandemic are creating an ever-greater demand for cool and clean indoor air. The Heating, Ventilation, and Air Conditioning (HVAC) industry makes machines that can satisfy that demand — but it won’t happen without innovation.
For example, HVAC makers are introducing new refrigerant gasses aimed at slowing down the progress of global warming. But an undesirable side-effect of these new gasses is that they are generally more flammable, which makes leaks more dangerous.
To protect people from this danger, a new regulation is going into effect which is spurring innovation. In January 2023, new standards for detecting refrigerant leaks from air conditioners and refrigerators will go into effect.

The market for refrigerant leak detection systems — a subset of the $4.1 billion (2027 revenue forecast) gas sensor industry — is expected to reach $400 million featuring competition among public companies and startups.

The winners for this growing pie will make leak detectors that satisfy customer demands for reliability, quality, speed, and safety.
Publicly-traded HVAC makers (about which I wrote in September) — such as Carrier, Trane, and Johnson Controls — …

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