The global Gas Sensor market size is expected to be worth around US$ 4.60 billion by 2030, according to a new report by Vision Research Reports.
The global Gas Sensor market size was valued at US$ 2.33 billion in 2020 and is anticipated to grow at a CAGR of 8.10% during forecast period 2021 to 2030.
The growth can be attributed to the growing demand for gas sensors to monitor gas emissions from industrial facilities. The increasing demand for wearable gas sensors for human health and environmental monitoring also bodes well for the growth of the market over the forecast period.
Various government bodies worldwide are imposing limits on vehicular emissions to curb atmospheric pollution and enhance fuel efficiency. For instance, the U.S. Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration revised the Corporate Average Fuel Economy targets and the greenhouse gas emission standards for passenger cars in April 2020. The need to abide by the newer emission standards is expected to trigger the demand for gas sensors over the forecast period.
Deteriorating air quality, particularly in urban areas, is a major problem in most parts of the world. Several people worldwide are suffering from various health disorders due to harmful gases emitted from vehicles and industrial facilities. At this juncture, gas sensors can potentially help in assessing the levels of carbon monoxide, and other gases in the air and contribute favorably to curbing air pollution.
The gas sensor segment dominated the market in 2020 and accounted for a share of more than 31.0% of the global revenue. Carbon dioxide sensors are mainly used for monitoring indoor air quality in schools, office buildings, homes, and hospitals. Given that excessive exposure to carbon dioxide can induce health conditions, such as headache, and restlessness, among others, the demand for carbon dioxide sensors is rising significantly. Carbon dioxide sensors are also used for real-time monitoring of freshness, quality, and safety of agricultural products.
The carbon monoxide sensor segment is anticipated to register significant growth over the forecast period. Fatalities stemming from carbon monoxide poisoning are driving the need for carbon monoxide sensors. According to the statistics provided by PubMed.gov, carbon monoxide poisoning resulted in 4.6 deaths per million in 2020. Developed countries, such as the U.S., are also confronting incidents related to carbon monoxide poisoning. According to the statistics provided by BMC Public Health, the U.S. witnessed 50,000 cases of carbon monoxide poisoning in 2019.
The wired segment dominated the gas sensor market in 2020 accounted for a share of more than 55% of the global revenue. The growth can be attributed to the benefits, such as compact size, low cost, low maintenance, and higher accuracy. In many situations, wired sensors are among the most reliable systems as they directly link the sensor to the device receiving the input, making them suitable for use in mines, oil rigs, and nuclear power plants. Furthermore, since infrared gas sensors have short battery life and use thermal sources, such as tungsten filament to work, they usually require hard-wired installation. Additionally, the increasing adoption of wired gas sensors in residential applications is a significant factor responsible for the segment growth.
The benefits offered by wireless gas sensors, such as enhanced safety, cost-effectiveness, and ease of portability, are expected to drive the growth of the segment. Wireless sensors can be used for various applications, such as emergency response, and leak detection, among others, for industrial safety. Wireless gas sensors can also be integrated with GPS and alarms to trigger alerts for workers in advance.
The electrochemical segment dominated the market in 2020 and accounted for a share of more than 21.0% of the global revenue. The demand for electrochemical sensors is rising as these sensors have intrinsically safer operations, consume lesser power, and offer better specificity to the target gas. Regulations drafted by the U.S. Occupational Safety and Health Administration on the exposure of toxic gas fumes are particularly triggering the need for gas sensors. The ability of electrochemical sensors to detect harmful gases, and landfill gases, among other gases also bodes well for the growth of the segment.
The infrared segment is anticipated to register the fastest CAGR over the forecast period. An infrared detector consists of a source of infrared light; an optical, infrared receiver; and an optical filter to select the wavelength. These gas sensors are used for detecting combustible hydrocarbon gases using infrared light. The growth of the segment can also be attributed to the rising levels of pollution across the globe.
The industrial segment dominated the market in 2020 and accounted for a share of more than 20.0% of the global revenue. Industrial gas sensors are used for monitoring and detecting hazardous vapors and gases, and triggering visual and audible alarms. The Clean Air Act monitored by Environment Protection Agency creates the demand for gas sensors among the industries. The Clean Air Act requires states to establish a network of air monitoring stations using criteria set by EPA. Stringent rules and regulations drafted by various governments across the world to ensure cleaner ambient air are expected to drive the growth of the segment over the forecast period.
The segment is anticipated to register the fastest CAGR over the forecast period. The LPG and LNG industry verticals have been aggressively deploying gas sensors as these industry verticals require monitoring at every step of storage, production, and transportation of gas. While natural gas production has been growing worldwide, the emphasis on safety and security at the processing facilities has also been equally strengthening. The continued growth in natural gas products is expected to drive the growth of the segment.
The Asia Pacific dominated the market in 2020 and accounted for a share of over 31.0% of the global revenue. Increasing awareness about the impact of air pollutants on human health across the countries in Asia Pacific, such as India and China, are driving the demand for gas sensors for air quality monitoring. Continued urbanization in the region is also contributing to the rising demand for gas sensors. According to the statistics provided by the United Nations Department of Economic and Social Affairs, the world population is expected to add 2.5 billion people to urban areas by 2050, with close to 90% of this increase is expected to come from Asia and African countries. Thus, the increasing urban population leads to air pollution and thereby drives the need for gas sensors in coming years.
City Technology Ltd.
Figaro Engineering Inc.
Nemoto & Co. Ltd.
Robert Bosch LLC
GfG Gas Detection UK Ltd.
FLIR Systems, Inc.
Oxygen (O2)/Lambda Sensors
Carbon Dioxide (CO2) Sensors
Carbon Monoxide (CO) Sensors
Nitrogen Oxide (NOx) Sensors
Methyl Mercaptan Sensors
Others (Hydrogen, Ammonia, Hydrogen Sulfide)
Photo-Ionization Detector (PID)
Building Automation & Domestic Appliances
Middle East & Africa
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 2020 and the forecast between 2021 and 2030. 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 2017 to 2030. 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.
The 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).
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:
Wires And Cables Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Optical Character Recognition Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Engineering Services Outsourcing Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Augmented Reality Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Automotive Finance Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...