New York, US, June 24, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Gas Sensor Market information by Technology, by Gas Type, by Application and Region – forecast to 2027” market was valued at USD 1123.3 Million in 2019; it is expected to reach USD 1795.9 Million by 2025 at 8.66% CAGR.
Market Scope:
Gas sensors, also known as gas detectors, are electronic devices used to detect the presence or concentration of gases in the atmosphere. Gas sensors are used in vast applications ranging from industries to monitor the concentration of the toxic gases, mines to check the concentration of gases, and oil rig locations to monitor the concentration of released gases to air quality check at offices, households & hotels to detect the gas leak or fire to avoid further emergencies, air conditioners to monitor the CO2 levels, and in breath analyzers to detect alcohol levels.
Government regulations and emission control standards for industrial sectors bolster the growth of the gas sensor market. Increasing adoption in HVAC systems and implementation and formulation of different safety and health regulations worldwide add to the global gas sensors market growth. Rising smart city projects worldwide create a substantial gas sensor market demand to monitor air quality and pollution levels.
Moreover, the increasing use of gas sensors in the medical domain to monitor and detect a number of conditions creates substantial market opportunities. Gas sensors are extensively used in lung function diagnosis, ventilator monitoring system, breathe monitoring system, patient monitoring system, and more.
Besides, increasing gas sensor applications in the defense & military industry, favorable government regulations & policies for sensor manufacturing, and growing demand in consumer electronics propel the market growth.
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Dominant Key Players on Gas Sensor market covered are:
- Sensirion AG (Switzerland)
- MSA (US)
- Membrapor AG (Switzerland)
- SenseAir AB (Sweden)
- NEW COSMOS ELECTRIC CO.
- LTD. (Japan)
- AMS AG (Austria)
- Amphenol Corporation (US)
- Bosch Sensortec GMBH (Germany)
- AlphaSense (UK)
- City Technology Ltd (UK)
- Dynament(UK)
Market USP exclusively encompassed:
Market Drivers
The global gas sensor market is growing profusely, witnessing the rising applications of gas sensors. Government initiatives to promote gas sensing technology to detect pollution levels in the environment are acting as major driving forces. Besides, with the recent trend of MEMS-based environmental hubs, gas sensors are becoming even more sought-after.
Heading with such strong growth drivers, the gas sensor market is projected to garnering huge traction in the years to come. According to Market Research Future (MRFR), the global gas sensor market valuation is projected to touch USD 1795.9 million, growing at an 8.66% CAGR during the assessment period (2019 to 2025).
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Segmentation of Market covered in the research:
The gas sensor market forecast is segmented into application, gas type, technology, and regions. The technology segment is sub-segmented into laser, infrared, catalytic, solid-state/metal oxide semiconductor, photoionization detectors, electrochemical, and others. Among these, the electrochemical segment would lead the market share over the forecast period.
The gas type segment is sub-segmented into hydrogen, methane, nitrogen oxide, hydrogen sulphide, carbon dioxide, carbon monoxide, oxygen, and others. Among these, the oxygen segment would dominate the market share over the forecast period.
The application segment is sub-segmented into environmental monitoring, healthcare consumer electronics, oil & gas, industrial safety, automotive & transportation (vehicle monitoring), aerospace & defense, medical, water & wastewater treatment, and others. Among these, the industrial safety segment would lead the market share over the forecast period.
Gas sensor's applications in healthcare are rising significantly and can soon become the dominating segment, growing at a 12.8% CAGR throughout the review period. At the same time, the vehicle controlling segment is estimated to grow at a 14.4% CAGR during the anticipated period on account of the rising integration of gas sensors for alcohol and emission level detecting in vehicles.
The technology segment is sub-segmented into fuel cell technology, semiconductor oxide sensor technology, and others. Of these, the fuel cell technology segment accounts for the largest market share. The fuel cell technology segment market valuation is projected to grow at a 14.5% CAGR during the review period.
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Regional Segmentation
It is observed that North America would continue to dominate the global gas sensor market throughout the review period, reaching a market valuation of USD 370.1 million by 2025. Factors such as the growing implementation of internet of things (IoT) technologies for smart infrastructure and government initiatives to decrease greenhouse gas emissions drive the market growth.
Additionally, heavy investments made by the US government in smart city projects led by the growing awareness about emissions substantiate the region's gas sensor market share. US CPSC regulations to adopt sensors for detecting carbon dioxide gases in different heating appliances and codes for gas leakage detection add to the gas detector market growth in North America.
The Asia Pacific region holds a substantial market share in terms of gas sensor market revenue. The regional market is driven by the increased use of gas sensors in chemical applications, oil & gas, power stations, smart cities & building automation, and automotive & transportation. Besides, the growing demand for air quality monitors, air cleaners, and air purifiers due to the rising awareness about the effects of air pollution on health foster the gas sensor market size.
Growing initiatives by the government to reduce air pollution and the strong presence of semiconductor and sensor technology developers in the region influence the gas sensor market growth. With the largest end user of gas sensors such as HVAC equipment and booming construction industry and the increasing urbanization, industrialization, and population, India and China add to the gas sensors market increase in the region.
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COVID-19 Impact on the Global Gas Sensor Market
Growing levels of pollution in several cities and changing perception of the immediate environment are positively impacting the gas sensor's market demand. Today, people care more about the air they breathe, inside and outdoors. It is believed that aerosol transmission, as monitored by exhaled CO2, is associated with the spread of COVID-19, which makes gas sensors even more relevant in the current context.
It is not like the COVID 19 disruption didn't affect the gas sensor industry. However, these effects were mild or negligible compared to what opportunities the pandemic offered to the industry in the later stage. Of course, gas sensor technology developers and manufacturers faced various problems ranging from obtaining raw materials & components required to develop gas sensors and delivering end products to attracting workers from quarantines.
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