Pune, Sept. 25, 2024 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that, “The Industrial Gas Sensors Market size was valued at USD 1123.5 million in 2023 and is expected to grow to USD 1997.1 million by 2032 and grow at a CAGR of 6.6% over the forecast period of 2024-2032.”
Driving Forces behind Growth in the Industrial Gas Sensors Market
The Industrial Gas Sensors Market is experiencing significant expansion due to the rising demand for enhanced safety measures and environmental monitoring in industries like manufacturing, oil and gas, mining, and chemical processing. These sensors are vital for detecting hazardous gases, ensuring workplace safety, and complying with environmental regulations. The market growth is further fueled by the adoption of Industrial Internet of Things (IIoT) solutions and government regulations mandating stricter emissions controls, with electrochemical sensors being the most widely used technology.
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Key Players:
- City Technology Ltd. (e.g., 4-Series gas sensors for toxic and flammable gases)
- DENSO Europe B.V. (e.g., Air Quality Sensors for automotive and industrial applications)
- Bosch Sensortec GmbH (e.g., BME688 gas sensor for indoor air quality monitoring)
- Alphasense (e.g., SO2, CO, and NO2 sensors for environmental monitoring)
- Figaro Engineering Inc. (e.g., TGS Series gas sensors for detecting various gases)
- NGK Spark Plug (e.g., NGK Gas Sensors for automotive applications)
- Nemoto Sensor Engineering Co. Ltd. (e.g., NEMOTO-3 series for industrial gas detection)
- JJS Technical Services (e.g., Gas Analysis Solutions for industrial environments)
- Aeroqual Ltd. (e.g., Aeroqual Series 200/500 for air quality monitoring)
- Techcomp Group (e.g., Gas Chromatography Solutions for gas analysis)
- Honeywell Analytics (e.g., GasAlert Micro 5 for portable gas detection)
- Emerson Electric Co. (e.g., Rosemount 3000 Series for industrial gas sensing)
- Siemens AG (e.g., SITRANS gas analyzers for various applications)
- Thermo Fisher Scientific (e.g., Portable Gas Detection Instruments)
- Teledyne Gas and Flame Detection (e.g., OLCT100-XP-MS for flammable gas detection)
- Msa Safety Incorporated (e.g., ALTAIR 4X Multigas Detector)
- RKI Instruments Inc. (e.g., GX-6000 for VOC and combustible gas detection)
- Industrial Scientific Corporation (e.g., Ventis Pro5 Multigas Detector)
- Ametek (e.g., HMT370 for measuring moisture in gases)
- Sensirion AG (e.g., SGP30 gas sensor for air quality monitoring)
- Others
Industrial Gas Sensors Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 1123.5 Million |
| Market Size by 2032 | USD 1997.1 Million |
| CAGR | CAGR of 6.6% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Oxygen, Carbon Dioxide, NOx, Others) • By Technology (Electrochemical, Semiconductor, Infrared, Others) • By End User (Healthcare, Building Automation & Domestic Appliances, Automotive, Petrochemical, Industrial, Others) |
| Key Drivers | • Transforming the Detection of Combustible Gases with MEMS Technology • The Key Importance of Gas Sensors in Clean Energy during the Energy Transition Journey. |
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Emissions Monitoring Driving Expansion in the Industrial Gas Sensors Market
The rise in greenhouse gas emissions, mainly from burning fossil fuels, emphasizes the pressing requirement for monitoring technologies. In 2022, there was a slight increase in U.S. emissions due to economic recovery, with a rise in CO₂ emissions from natural gas. The industrial sector continues to play a significant role, increasing the need for real-time monitoring solutions. Industrial gas detectors, particularly when combined with IIoT, play a crucial role in monitoring emissions, guaranteeing adherence to regulations, and helping industries minimize their environmental impact.
Leading Trends in the Industrial Gas Sensors Market: Oxygen Sensors and Petrochemical Dominance
Oxygen sensors dominate the Industrial Gas Sensors Market, capturing 40% of the revenue in 2023 due to their vital role in industries like healthcare and petrochemical. Ongoing advancements, including MEMS and optical technologies, enhance their accuracy and response times. As safety and regulatory compliance become priorities, the demand for reliable oxygen monitoring solutions will drive continued growth in this market segment.
In 2023, the Petrochemical segment led the Industrial Gas Sensors Market, accounting for 32% of total revenue, driven by the need for precise gas concentration monitoring in sectors such as automotive and healthcare. Companies like Siemens and Honeywell are investing in advanced gas monitoring solutions, integrating IoT for real-time data and predictive maintenance. Additionally, manufacturers like Dräger and MSA Safety are developing portable gas detection devices for emergency response, enhancing user experience and data logging, which will further boost market growth as industries prioritize safety and compliance.
Regional Dynamics Shaping the Industrial Gas Sensor Market: North America's Dominance and Asia-Pacific's Rapid Growth
In 2023, North America dominated the Industrial Gas Sensor Market, holding 37% of the share due to its strong industrial base and stringent safety regulations. The region's focus on workplace safety drives demand for advanced gas sensing technologies in sectors like manufacturing and healthcare. Companies such as Honeywell and Siemens are launching innovative gas detection solutions, while Dräger offers portable devices for hazardous environments. The integration of IoT and AI technologies is enhancing predictive maintenance and operational efficiency, further supporting market growth and safety standards.
In 2023, the Asia-Pacific region emerged as the fastest-growing market for Industrial Gas Sensors, fueled by rapid industrialization and stringent environmental regulations. Countries like China and India are driving this growth, with companies introducing innovative gas detection solutions for hazardous environments. Advancements in IoT and MEMS technologies enhance accuracy and connectivity, supporting compliance with emissions regulations and fostering sustainable practices across various sectors.
Recent Development
- On January 16, 2024, Teledyne Gas and Flame Detection announced the launch of a new infrared (IR) sensor for its OLCT 100 XPIR fixed gas detector, enhancing stable and reliable methane detection measurements for industrial, utility, and laboratory markets, addressing the critical safety and environmental challenges posed by methane.
- On January 13, 2023, RKI Instruments announced an extensive line of gas detection alarm systems for semiconductor manufacturing plants, featuring over 600 gas sensors developed in partnership with RIKEN KEIKI, including the GD-70D, which supports the detection of various gases and complies with TLV-TWA 5ppm COS.
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Key Takeaways
- The report offers detailed analysis and information on present market trends, growth factors, and obstacles, allowing businesses to make well-informed strategic choices.
- Businesses can identify profitable markets for expansion and adjust their marketing strategies by focusing on regional dynamics, notably North America and Asia-Pacific.
- Analyzing the potential growth of the market can help investors find areas with high growth, leading to improved investment choices in the industrial gas sensor industry.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Key Vendors and Feature Analysis, 2023
5.2 Performance Benchmarks, 2023
5.3 Integration Capabilities, by Software
5.4 Usage Statistics, 2023
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and supply chain strategies
6.4.3 Expansion plans and new product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Industrial Gas Sensor Market Segmentation, by Product
7.1 Chapter Overview
7.2 Oxygen
7.3 Carbon Dioxide
7.4 NOx
7.5 Others
8. Industrial Gas Sensor Market Segmentation, by Technology
8.1 Chapter Overview
8.2 Electrochemical
8.3 Semiconductor
8.4 Infrared
8.5 Others
9. Industrial Gas Sensor Market Segmentation, by End User
9.1 Chapter Overview
9.2 Healthcare
9.3 Building Automation & Domestic Appliances
9.4 Automotive
9.5 Petrochemical
9.6 Industrial
9.7 Others
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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