New York, United States , Aug. 08, 2024 (GLOBE NEWSWIRE) -- The Global Gas Sensor Market Size is to Grow from USD 2.2 Billion in 2023 to USD 5.4 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 9.39% during the projected period.
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A gas sensor is a device used to detect the presence and concentration of gases in the atmosphere. It works by converting the physical or chemical properties of gases into readable signals that can be tracked and analyzed. These sensors are used in a variety of applications, including industrial safety, environmental monitoring, and home safety systems, to detect harmful gases such as carbon monoxide, methane, and other toxic or flammable gases. Gas sensors contribute to safety and environmental compliance by providing early warnings of gas leaks or hazardous conditions, allowing for timely intervention and avoiding potential accidents or health risks. Gas sensors are in high demand across a wide range of industries, including chemical, oil and gas, mining, and power, for detecting and monitoring harmful gases such as sulfur dioxide and chlorine. Excessive emissions of these gases can harm human health. Furthermore, these industries frequently emit explosive gases such as methane, propane, and butane, which pose a significant fire risk. To protect the environment, several regulatory bodies in countries such as the United States, United Kingdom, Germany, China, and France have enacted regulations to limit harmful gas emissions. As a result, gas sensors in refineries and other critical industries are becoming increasingly important for detecting and monitoring hazardous substances. However, one of the most significant challenges in the gas sensor market is the time-consuming and labor-intensive process of developing novel and inventive gas sensors. This leads to increased manufacturing and development costs.
Browse key industry insights spread across 220 pages with 115 Market data tables and figures & charts from the report on the "Global Gas Sensor Market Size, Share, and COVID-19 Impact Analysis, By Product (Oxygen (O2)/Lambda Sensors, Carbon Dioxide (CO2) Sensors, Carbon Monoxide (CO) Sensors, Nitrogen Oxide (NOx) Sensors, Methyl Mercaptan Sensor, Others), By Type (Wireless, Wired), By Technology (Electrochemical, Semiconductor, Solid State/MOS, Photo-ionization Detector (PID), Catalytic, Infrared (IR), Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The carbon dioxide (CO2) sensors segment dominates the market with the highest market share of the global gas sensor market during the projected period.
Based on the product, the global gas sensor market is divided into oxygen (O2)/lambda sensors, carbon dioxide (CO2) sensors, carbon monoxide (CO) sensors, nitrogen oxide (NOx) sensors, methyl mercaptan sensor, and others. Among these, the carbon dioxide (CO2) sensors segment dominates the market with the highest market share of the global gas sensor market during the projected period. Carbon dioxide sensors are commonly used to monitor indoor air quality in a variety of settings, including homes, office buildings, automotive environments, healthcare facilities, and other applications. These sensors play an important role in keeping air quality safe and comfortable, which has a direct impact on health and productivity. Recognizing the growing demand for more efficient and accurate monitoring, many companies are investing in the development of MEMS (Micro-Electro-Mechanical Systems) carbon dioxide sensors. These advanced sensors have improved sensitivity, miniaturization, and energy efficiency, making them suitable for a variety of applications. As a result, the market is seeing an influx of innovative CO2 sensor technologies tailored to the specific needs of various industries, improving overall indoor air quality management.
The wired segment is anticipated to grow at the fastest pace in the global gas sensor market during the projected period.
Based on the type, the global gas sensor market is categorized into wireless and wired. Among these, the wired segment is anticipated to grow at the fastest pace in the global gas sensor market during the projected period. Wired gas sensors are valued for their low maintenance requirements, small size, cost-effectiveness, and high accuracy. These sensors are extremely reliable because they provide a direct connection between the sensor and the receiving device, making them ideal for use in hazardous environments such as mines, oil rigs, and nuclear power plants. Additionally, there is a growing trend of incorporating wired gas sensors in residential applications, driven by their dependability and effectiveness in ensuring safety. This growing adoption in homes, combined with their established use in industrial settings, is significantly driving the growth of the wired gas sensor market. These sensors' dependability and efficiency make them the preferred choice for monitoring and detecting gas levels in a variety of environments, ensuring safety and regulatory compliance.
The electrochemical segment is anticipated to grow at the fastest pace in the global gas sensor market during the projected period.
Based on the technology, the global gas technology market is categorized into electrochemical, semiconductor, solid-state/MOS, photo-ionization detector (PID), catalytic, infrared (IR), and others. Among these, the electrochemical segment is anticipated to grow at the fastest pace in the global gas sensor market during the projected period. Electrochemical sensors are becoming increasingly popular because they use less power, operate more safely, and detect target gases with greater specificity. These sensors operate by oxidizing the target gas at the electrode, allowing them to precisely measure the resulting current. This efficient detection method makes electrochemical sensors especially useful for detecting toxic gas concentrations.
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Asia Pacific is expected to hold the largest share of the global gas sensor market over the forecast period.
Asia Pacific is expected to hold the largest share of the global gas sensor market over the forecast period. Demand for gas sensors for air quality monitoring is increasing in Asia Pacific countries such as India and China as people become more aware of the effects of air pollutants on their health. Continued urbanization in the region is also increasing demand for gas sensors. Further, governments in the Asia Pacific region are heavily investing in smart city projects, resulting in a sizable market for smart sensors. Such factors boost regional market growth.
Europe is predicted to grow at the fastest pace in the global gas sensor market during the projected period. Stringent regulations governing gas emissions, along with the resulting need for emissions monitoring, are expected to drive regional market growth. European safety regulations require all vehicle manufacturers to include gas sensor technologies in their offerings. As pollution regulations tighten, the automotive industry's use of gas sensors to reduce pollution is expected to increase in the coming years. Furthermore, several regional market players are developing advanced gas sensors, which will eventually drive the market's expansion.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global gas sensor market are ABB Ltd., AlphaSense Inc., City Technology Ltd., Dynament, Figaro Engineering Inc., Membrapor, Nemoto & Co. Ltd., Robert Bosch LLC, Siemens, Sensorix, GfG Gas Detection UK Ltd., FLIR Systems, Inc., CO2 Meter.com, MEMBRAPOR, Amphenol Corporation, Gastec Corporation, Honeywell International Inc., Sensirion AG, and Others Key Players.
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Recent Developments
- In September 2022, Sensorix announced the launch of its 'Satellix' gas sensor format, which includes electrochemical sensors and pellistors for LEL monitoring. The product was designed to detect gases used in semiconductor processes.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global gas sensor market based on the below-mentioned segments:
Global Gas Sensor Market, By Product
- Oxygen (O2)/Lambda Sensors
- Carbon Dioxide (CO2) Sensors
- Carbon Monoxide (CO) Sensors
- Nitrogen Oxide (NOx) Sensors
- Methyl Mercaptan Sensor
- Others
Global Gas Sensor Technology Market, By Type
- Wireless
- Wired
Global Gas Sensor Market, By Technology
- Electrochemical
- Semiconductor
- Solid State/MOS
- Photo-ionization Detector (PID)
- Catalytic
- Infrared (IR)
- Others
Global Battery Technology Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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