Chicago, Aug. 18, 2022 (GLOBE NEWSWIRE) -- The report "Gas Sensors Market by Gas Type(Oxygen, Carbon Monoxide, Carbon Dioxide, Nitrogen Oxide, Volatile Organic Compounds, Hydrocarbons), Technology, Output Type, Product Type, Application, and Geography - Global Forecast to 2026", The global gas sensor market is expected to grow from USD 1.1 billion in 2021 to USD 1.5 billion by 2026; it is expected to grow at a CAGR of 7.0% during 2021–2026. Key factors fueling this markets growth include high demand for gas sensors in critical industries, formulation and implementation of various health and safety regulations globally, increasing integration of gas sensors in HVAC systems and air quality monitors.
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Browse in-depth TOC on “Gas Sensor Market”
150 - Tables
59 - Figures
272 – Pages
Honeywell Analytics (UK) is a combination of different gas detection companies acquired by Honeywell International, Inc. (Honeywell) since 2005. The company offers sensors for the detection of gases such as oxygen, carbon monoxide, ammonia, hydrogen sulfide, nitrogen dioxide, hydrocarbons, methane, hydrogen, chlorine, and dioxides. The company offers industrial fire and gas systems, portable gas detection systems, flame and centralized gas monitoring systems, and systems used in commercial building environments.
- Expected Market - $1.5 Billion by 2026
- At a CAGR – 7.0%
- Market size available for years -> 2018-2026
- Base Year – 2020
- Forecast Period – 2021-2026
- Segments Covered - Gas Type, Technology, Connectivity, Product, Output Type, Application, and Region
- Geographic regions covered - North America, APAC, Europe, and RoW
Amphenol (US) is among the leading providers of advanced sensing technologies and innovative embedded measurement solutions. In October 2016, Amphenol acquired SGX Sensortech, which is an important player in the gas sensor business. SGX Sensortech offers gas sensors for sensing gases, such as carbon mono oxide, carbon dioxide, oxygen, hydrocarbon, and methane, which are used in various industries such as automotive, mining, and building automation. Amphenol offers gas sensors for CO2 under its product portfolio.
The key players operating in the gas sensor market include
- Honeywell Analytics (UK),
- MSA Safety Inc. (US),
- Amphenol (US),
- Figaro Engineering (Japan),
- Alphasense Ltd.(UK),
- Sensirion AG (Switzerland),
- Dynament Ltd. (UK),
- ams AG (Austria),
- MEMBRAPOR AG (Switzerland)
The penetration of gas sensors is not significantly high in the consumer electronics segment, but manufacturers of gas sensors can leverage the potential of these applications by offering application-specific gas sensors. Consumer electronics mainly consists of smartphones, tablets, and wearable devices. Due to the increasing number of integrated gas sensors in smartphones and wearable devices for the continuous monitoring of environmental or atmospheric air quality, the demand for gas sensors is likely to propel in this vertical.
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While the widespread application of gas sensors in automobiles, HVAC systems, air quality monitoring systems, and consumer devices leads to increased shipments of these sensors, the sales growth is significantly restrained by price erosion. While the reduction in ASP is beneficial for consumers, it results in shrinking profit margins for suppliers. Thus, intense pricing pressure results in a fall in average selling price (ASP), which hampers revenue growth in the highly competitive gas market.
The automotive & transportation application is expected to continue to account for the largest size of the market. The air quality in the vehicle cabin is majorly affected due to the entry of pollutant gases through the ventilation systems, lack of fresh air inflow resulting in low oxygen (02) concentrations, pollutants entering through window openings, and toxic gases entering via redirected exhaust fumes. Stringent environmental and safety regulations compel all automobile and transport OEMs to incorporate gas sensor solutions in their offerings.
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