Dublin, May 28, 2024 (GLOBE NEWSWIRE) -- The "Global Gas Sensors Market" report has been added to ResearchAndMarkets.com's offering.
The global gas sensors market is expected to witness significant growth over the next several years, with predictions estimating the market value to climb from US$ 1.8 billion in 2023 to US$ 3.3 billion by the year 2030, advancing at a compound annual growth rate (CAGR) of 9.66%. In view of volume, the market is reported to have held 16.59 million units in 2023. This upsurge is primarily fueled by the rising demand for air quality monitoring in tandem with stringent governmental mandates to regulate emissions. Despite facing hurdles such as high initial deployment costs, these sensors are witnessing an increasing uptake across a broad range of industry sectors due to their critical role in ensuring environmental safety and compliance.
Segmentation of the Gas Sensors Market
The market is segmented into diverse categories including product, technology, type, connectivity, output type, form factor, gas type, and application. The Gas Detectors segment is anticipated to be a substantial revenue contributor, expected to generate over US$ 1.56 billion by 2030. From a technology standpoint, the Electrochemical segment dominates with a sizeable market share, while the Infrared technology segment follows closely behind. Trends indicate a marked growth in the Digital output types, and the Fixed/Mounted form factors are expected to see significant uptake. The Carbon Dioxide (CO2) sensors are projected to witness the highest CAGR during the forecast period, particularly in industrial applications which maintain a dominant market share.
Regional Landscape and Leading Contributors
Geographically, the Asia Pacific region leads the market with an estimated share of over 35% in 2023, primarily driven by the markets in China, India, and Japan. This region is followed by North America and Europe, both contributing significantly to the global market scale. The global market landscape is composed of key industry participants that hold a combined market share of nearly 47%. Companies such as AlphaSense Inc., ABB Ltd., Amphenol, Emerson Electric, and Honeywell Analytics are at the forefront of innovation in this space, underscoring the competitive nature of the market.
Market Trends and Technologies
The report highlights emerging trends and the advancement of technologies such as 2D nanomaterial applications in the manufacturing of gas sensors, indicating a move towards more efficient and sensitive detection equipment. As industries across the globe continue to prioritize environmental health and workplace safety, the gas sensors market is poised for innovative evolutions that will cater to these stringent needs.
A selection of companies mentioned in this report includes, but is not limited to:
- ABB Ltd.
- AlphaSense Inc.
- Amphenol
- Dynament Ltd.
- Emerson Electric, Co. Ltd.
- Figaro Engineering
- GASTEC Corporation
- Honeywell Analytics
- MEMBRAPOR AG
- MSA Safety Inc.
- Nemoto & Co. Ltd
- Robert Bosch GmbH
- Sensirion
- Siemens
- DENSO Corporation
For more information about this report visit https://www.researchandmarkets.com/r/fgdtlh
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