Gas Sensor Market - By Product (Oxygen (O2)/ Lambda Sensors, Carbon Dioxide (CO2) Sensors, Carbon Monoxide (CO) Sensors, NOx Sensors), By Technology (Electrochemical, Semiconductor, Solid State, PID, Catalytic, Infrared), By Connectivity (Wired, Wireless)

Gas Sensor Market - By Product (Oxygen (O2)/ Lambda Sensors, Carbon Dioxide (CO2) Sensors, Carbon Monoxide (CO) Sensors, NOx Sensors), By Technology (Electrochemical, Semiconductor, Solid State, PID, Catalytic, Infrared), By Connectivity (Wired, Wireless), By Application (Consumer Electronics, Medical, Environmental, Petrochemical, Automotive, Industrial) & Forecast, 2023 - 2032

Global Gas Sensor Market is poised to depict steady growth from 2023 to 2032, driven by the growing demand for sensor integration across multiple industries. Industries that often release gases including carbon dioxide, carbon monoxide, ammonia, and hydrocarbons into the air during operations are highly inclined towards integrating advanced gas sensors. This is mainly due to the adverse effects of these emissions on human health.

Gas sensors are components integrated into gas detectors and analyzers for the detection of combustible or hazardous gases. These components are integral to industrial plants for maintaining indoor and outdoor air quality and the detection of numerous gases such as hydrogen sulfide, carbon monoxide, carbon dioxide, sulfur dioxide, etc.

Furthermore, the incorporation of IoT and cloud computing technologies in gas sensors is contributing to market growth, as these enable real-time monitoring and control of gas emissions. IoT technologies allow gas sensors to be connected to the internet and communicate with other devices, providing valuable insights & data on gas emissions.

Ongoing efforts by market players to introduce innovative products are likely to support market growth. To cite an instance, in March 2023, Winsen, an electronics technology business, expanded its sensor category, by developing a new line of laser gas detection devices, leading the gas detection market with technological strength.

The gas sensor market is segmented according to product, technology, application, and region.

By product, the gas sensor market share from the carbon dioxide sensors segment was worth over USD 700 million in 2022. The rising CO2 emissions into the atmosphere have raised the need for gas sensors, one of the major factors expected to propel the segment growth. These sensors track the carbon dioxide levels in open systems, such as the environment, or confined systems, such as aquariums.

In terms of technology, the electrochemical segment is anticipated to grow at over 9% CAGR between 2023 and 2032. Electrochemical gas sensors have high accuracy, reliability, and selectivity to a specific gas type in the ppm (parts-per-million) range. the growing use of electrochemical gas sensors in biogas facilities, power plants, and chemical industries to detect the presence of harmful gases such as hydrogen sulfide and carbon monoxide in hazardous situations will propel the segment revenue.

The gas sensor market from the automotive application segment is anticipated to record remarkable gains through 2032 owing to the widespread product use for monitoring CO2 emissions from car exhaust systems. Moreover, stringent automotive emissions rules and regulations implemented by the government are expected to boost industry growth.

With respect to the regional landscape, Europe gas sensor market is foreseen to witness substantial growth over 2023-2032. The growing emphasis on environmental safety and emission control laws will drive the gas sensors industry growth in Europe. Furthermore, the governments across several EU economies have imposed strict guidelines for automobile and industrial manufacturers to adopt advanced solutions for monitoring indoor & outdoor air quality. This has created a significant demand for gas sensors in the region.