The global gas sensor market size is expected to reach USD 4.8 billion by 2027, registering a CAGR of 8.3% over the forecst period 2020 to 2027.
A gas sensor is a device that detects the presence of gases in a particular area and is often integrated into a safety system. These sensors consume low power and can be integrated into portable handheld devices, which is expected to create opportunities for market growth.Technological developments, such as enhancement of Microelectromechanical Systems (MEMS) sensors, and need for hydrogen detection on account of its use as a fuel are also expected to contribute to the growth.
Gas sensors are used for measuring the concentration of various gases in their vicinity, such as oxygen, carbon dioxide, and nitrogen oxide. These sensors are equipped with a high sensitive sensing element that is powered through connecting leads connected to the circuits. These sensors find extensive application in process and manufacturing industries for detecting various toxic, including hydrogen sulfide and nitrogen dioxide.
Factors, such as increasing demand for sensor devices, high-end features, and technological advancements are accelerating the demand. Governmental standards and regulations concerning emission control in the industrial segment are projected to accelerate the growth. In the medical industry, the product is widely used in the patient monitoring system, breathe monitoring system, ventilator monitoring systems, and lung function diagnosis, among others. Increasing awareness about environment safety is driving the adoption of products used in the air monitoring systems to detect pollution levels and volatile organic compounds.
The ability of wireless sensing devices to detect explosive or toxic gases from a safe distance is expected to boost their demand over the forecast period. These sensors also offer advantages such as easy installation at lower cost compared to wired sensors and have the ability to create a network of sensors. Gas sensors are expected to witness a high demand in Heating, Ventilation, and Air Conditioning (HVAC) control systems as they facilitate intelligent ventilation control. A variety of sensors are used to detect flammable gases and have different flammable conditions, hence a specific type of sensor is required to accurately measure each type of gas.
New sensor technologies, such as miniaturized Photo Ionization Detectors (PIDs) for measurement, Non-dispersive Infrared (NDIR) sensors for CO2 or combustible gas, and additional types of substance-specific electrochemical sensors, are available for incorporation into multi-sensor portable instruments. The desire for continuous and real-time monitoring is driving the market in miniaturization, networking/communication, power management, and reliability. Currently, indoor and outdoor air quality concerns are driving the application in commercial building automation as well as in environmental monitoring. Most sensors used in industrial applications are expensive and the package size is too large. Thus, the need for less expensive and compact size products is expected to drive the market.
Manufacturers tend to focus on proven sensor technologies and on improving current monitoring systems with more accuracy. Trends toward miniaturized systems, printed sensor manufacturing, and flexible electronics for consumer markets is anticipated to boost the growth. However, the increasing adoption of wireless sensors with Internet of Things (IoT) may hamper the wired gas sensor market growth in the forthcoming years.
The increased adoption of gas sensors can be attributed to the high need for safety in the industrial sector such as oil and gas, power generation, and manufacturing.For instance, theOccupational Safety and Health Administration under the U.S. Department of Labor has implemented the Health and Safety at Work Act, which requires industrial facilities to install gas sensors for monitoring the emission levels and air quality among industries. In addition, implementation of advanced wireless sensor technologies with mesh network in industries is further creating opportunities for the market growth. The infrared technology segment is anticipated to witness substantial growth as it enables the measurement of a wide variety of gases including methane, carbon dioxide, and Volatile Organic Compounds (VOC) such as acetylene, benzene, and butane. This is anticipated to further fuel the market growth.
Prominent players dominating the market includeAlphaSense Inc.; City Technology Ltd.;Dynament; Figaro Engineering Inc.; Membrapor; Nemoto & Co., Ltd.; Robert Bosch LLC; ABB; Siemens; GfG Gas Detection UK Ltd.; andFLIR Systems, Inc. Major strategies adopted by the key players include expansion capabilities, partnerships and agreements, collaborations, new product developments, mergers and acquisitions, and research and development investments. Sensor manufacturers are focusing on investing in R&D activities with an aim to boost technological advancements.Key players have employed innovative concepts and ideas, improved manufacturing techniques, and enhanced their products and profitability to gain a competitive edge.
The Gas Sensor market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Gas Sensor market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Gas Sensor market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Gas Sensor market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Gas Sensor market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Gas Sensor capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Gas Sensor by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Gas Sensor market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Gas Sensor market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Gas Sensor market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Gas Sensor industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Gas Sensor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Gas Sensor market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Gas Sensor market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Gas Sensor market. These factors have benefited the growth of the global market for Gas Sensor. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Gas Sensor. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
Carbon Dioxide Sensor
Carbon Monoxide Sensor
Methyl Mercaptan Sensor
Others (Hydrogen, Ammonia, Hydrogen Sulfide)
Photo-Ionization Detector (PID)
Building Automation & Domestic Appliances
Middle East & Africa
In this study, the years considered to estimate the market size of Gas Sensor are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are: