Gas Sensors Market

Global Gas Sensors Market Size (2024-2029):

The Global Gas Sensors Market Was worth USD 2.45 billion in 2023 and is anticipated to reach a valuation of USD 3.78 billion by 2029 from USD 2.63 billion in 2024. It is predicted to register a CAGR of 7.5% during the forecast period 2024-2029.

The gas sensor is a device that is used to sense gases nearby in terms of a safety system, so that, its equipment is utilized to identify gas emissions and shut down a framework system automatically. The necessity to control and continuous monitoring of the gases used in the various industries and formation & implementation of different health and safety regulations across the globe are the factors that are driving the rapid growth of the gas sensor market.

MARKET DRIVERS

The gas sensor is a device that is used for some crucial life-saving components like using them in hospitals and in aircraft to monitor oxygen deficiency of the patients and passengers during critical situations, which is one the reason for the rising demand of gas sensors.

Due to the increase in the industrial gas-induced accidents globally, managements of the industries are adopting the gas sensors for minimizing the risk. The manufacturing procedures that are extensive in terms of violent gas usage need gas sensors to sense and control gas usage, thereby boosting the global gas sensor business.

The rise in the demand for semiconductors is also one of the reasons for the expansion of the growth of the gas sensor market. The gas sensor is one of the mother components of semiconductor; therefore, their market will be proportional to the growth of semiconductors' demand.

MARKET CHALLENGES

However, gas sensors consume a considerable amount of time for the developments, which is one of the main challenges that is letting down the growth of the gas sensor market to some extent.

MARKET OPPORTUNITIES

Gas sensors used in industries are mostly advanced portable and wireless sensing devices that are free of hazards for humans. Developing new technology in these categories can be an excellent opportunity for new players in the market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Gas Sensors Market Analysis By Gas Type

• Carbon Dioxide (CO2)
• Carbon Monoxide (CO)
• Oxygen (O2)
• Nitrogen Oxides (NOx)

In the gas type segmentation, oxygen is projected to grow in a significant way in the forecast period due to its applications in various fields like automotive, food & beverage, smart cities & building automation. Also, some of the crucial fields that are likely to save lives such as health, defense and aircraft are boosting the gas sensor market in the oxygen gas type segment. 

Global Gas Sensors Market Analysis By Application

• Industrial
• Building Automation
• Domestic Appliances

From the segmentation of application, smart cities & building automation is going to be one of the decisive sectors for the global gas sensor market. Due to the increase in pollution level because of urbanization and the poor indoor air quality, gas sensors will be having a high demand in the future.

Global Gas Sensors Market Analysis By Technology

• Infrared
• Semiconductor

REGIONAL ANALYSIS

• North America Gas Sensors Market includes U.S, Canada
• Europe Gas Sensors Market includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe
• Asia Pacific Gas Sensors Market includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC
• Latin America Gas Sensors Market includes Brazil, Mexico, Argentina, Chile & Rest of LATAM
• Middle East & Africa Gas Sensors Market includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA

In 2018, Europe ruled the international market because of the increased IT investments and technological advancements in sensors technology in the region. Demand for devices that can be incorporated into smartphones has allowed these technological advancements. The industry is expected to grow further, given the increasing need to ensure safety at work. In addition, laws in developed economies, such as Europe, enforce the use of these sensing instruments in potentially hazardous conditions, which will lead to market growth.

KEY MARKET PLAYERS

Companies playing a prominent role in the global gas sensors market include Alpha Sense, Dynament Ltd., Membrapor AG, Ltd., ABB Ltd., and GfG Europe Ltd. City Technology Ltd., Figaro Engineering, Nemoto & Co., Robert Bosch LLC., Siemens AG., and Others.

RECENT HAPPENINGS IN THE MARKET

• Underwriters Research labs announced its two new smoke alarm and sensors standards in February 2018. The seventh edition of this norm is slated to take effect in May 2020. It focuses on reducing false alarms, often understood as nuisance alarms, and on identifying specific smoke characteristics. New smoke sensors may, therefore, be able to distinguish between toxic smoke from cooking. Essentially, the smoke from non-lethal sources and actual life-threatening smoke.