Gas Sensors - Global Market Outlook (2021 - 2028)

Gas Sensors - Global Market Outlook (2021 - 2028)

According to Stratistics MRC, the Global Gas Sensors Market is accounted for $1.04 billion in 2021 and is expected to reach $1.73 billion by 2028 growing at a CAGR of 7.5% during the forecast period. Gas sensors are electronic devices that detect and identify different types of gasses are commonly used to detect toxic or explosive gasses and also to measure gas concentration levels. Gas sensors can detect a wide range of gases, namely toxic gases, flammable, and combustible gases in the atmosphere or environment and air quality. Based on the concentration of gases in the atmosphere, the gas sensor displays a change in resistance of the material that is used in the sensor, which is also used to measure output voltage and due to the changes in voltage value, the type and concentration of gas is detected. These sensors are used in various industries ranging from medicine, energy, defense & military and aerospace.

Market Dynamics:

Driver:

Rising adoption of gas sensors in consumer electronics

Consumer electronics mainly consists of wearable devices, smartphones, and tablets. The rising penetration of gas sensors is not significantly high in the consumer electronics segment, but manufacturers of gas sensors can leverage the potential of these applications by offering application-specific gas sensors. Due to the increasing number of integrated gas sensors in smartphones and wearable devices for the continuous monitoring of environmental or atmospheric air quality, the demand for gas sensors is likely to propel in this application.

Restraint:

High initial cost of the device

The incorporation of sensors facilitates extra features and makes the devices more automated, although, it incurs some additional cost and thereafter it is avoided in cost-effective application. The addition of sensors does help to increase automation in electronic devices; however, it incurs an extra cost and thereafter is avoided in cost-effective end uses. In devices that are continuously used for a long time, such as laptops, smart phones, and cameras, sensors create heating issues and reduce their overall life as these devices have components, which are temperature sensitive. The devices which use battery as their power source, sensors reduce their battery life as they rely on device battery for their operation.

Opportunity:

Increasing trends of internet of things (IoT)

The people are moving toward automation-based solution and services in the current IT-dominant world. This has led to increased focus on IoT-based devices due to their innovative and advanced applications. IoT is a technology for providing internet or internetworking for almost all applications such as microwaves, refrigerators, smartphones, defense &military, healthcare, and buildings. IoT uses electronic software, sensors, and actuators for connecting all these things to a common network. IoT incorporates several sensors such as touch sensor, proximity sensor, temperature sensor, gas sensor.

Threat:

Disruptions due to covid-19

The gas sensors form an important part of the oil and gas vertical. These sensors are used to detect harmful/combustible gases in enhanced oil recovery (EOR), exploration, good drilling, well completion, pigging, fracking, and refining. Recently, oil prices have plummeted to a new low, which has resulted in many exploration & production (E&P) and refining companies to cut capital expenditure and also curtail production. Owing to the aforementioned situation, many companies have delayed or cancelled their order for gas sensors, thus resulting in a decline in demand for gas sensors.

The heating, ventilation, and air conditioning (HVAC) segment is expected to be the largest during the forecast period

The heating, ventilation, and air conditioning (HVAC) segment is estimated to have a lucrative growth. Gas detection in the HVAC system is one of the crucial elements. It reduces the risk of releasing toxic and combustible gases through early detection and initiating a timely corrective action. HVAC system provides pure indoor air by removing pollutants from the environment through proper pressurization and ventilation. These systems are finding their applications in the petroleum, refineries, oil & gas industry, among others. Such industries involve processes that carry combustible or toxic materials. In order to detect and analyze the level of toxic substances present in the environment, gas sensors are increasingly being used in HVAC systems in all major industries that include presence of combustible gases and toxic elements. Usage of gas sensors in HVAC system monitors toxic and combustible gases and alert the personnel before it reaches a dangerous level. For instance, gas sensors are being increasingly used in HVAC systems due to rise in compliances with government regulations, and increase in concerns toward occupation health & safety, which drive the market growth of gas sensors.

The automotive and transportation segment is expected to have the highest CAGR during the forecast period

The automotive and transportation segment is anticipated to witness the fastest CAGR growth during the forecast period. Stringent environmental and safety regulations compel all automobile and transport OEMs to incorporate gas sensor solutions in their offerings. The air quality in the vehicle cabin is majorly affected due to the entry of pollutant gases through the ventilation systems, lack of fresh air inflow resulting in low oxygen (02) concentrations, pollutants entering through window openings, and toxic gases entering via redirected exhaust fumes.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period. Growing awareness among the masses regarding the impact of air pollution on human health is leading to a rise in the demand for air purifiers, air cleaners, and air quality monitors. Continued urbanization in the region is also contributing to the rising demand for gas sensors. The increasing urban population leads to air pollution and thereby drives the need for gas sensors in coming years. Increasing pollution levels in countries of APAC is fuelling the growth of the gas sensor market in the region. This, in turn, is driving the growth of the gas sensor market in the Asia Pacific region.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period. Stringent norms related to the emissions of gases and the subsequent need for emissions monitoring is expected to drive the growth of the regional market. For instance, in October 2020, the European Union announced that it is considering binding standards for natural gas to limit the emission of methane. Methane happens to be the second-largest gas after carbon dioxide contributing to global warming. Additionally, the IIoT is also advancing in the region. Customers are becoming more interested in IoT gas detectors, and players in the industry are working on establishing a product range tailored to IoT solutions. The necessity for wireless detectors owing to the requirement of continuous and real-time monitoring and detection of emissions is predicted to drive up demand for gas detectors in recent years and the coming years in the region.

Key players in the market

Some of the key players profiled in the Gas Sensors Market include Amphenol Corporation, Bosch Sensortec GMBH, City Technology Ltd, Dynament, Figaro Engineering Inc, Gastec Corporation, Honeywell Analytics, Membrapor, Nemoto Sensor-Engineering Co., Ltd. (Nemoto & Co., Ltd.), Robert Bosch LLC, SenseAir AB, Sensirion AG, and Siemens.

Key Developments:

In October 2021, Honeywell announced the availability of two new Bluetooth®*-connected gas detectors that can provide continuous monitoring for harmful gases even in the fog, snow, rain, and other adverse weather, ensuring the safety of chemical, petrochemical, oil, and gas, and other industrial employees and sites.

In August 2020, Sensirion AG launched the new SGP40 VOC sensor for indoor air quality applications such as automated air quality control systems (kitchen hoods, air purifiers, demand-controlled ventilation systems, etc.) and air quality monitoring.

In January 2019, Firago Engineering Inc. revealed its new digital TGS8101 IAQ sensor, an ultra-compact sensor for gas, relative humidity, and temperature. The gas sensor consists of a metal oxide compound on a micro hot plate, assembled for high operating temperatures, which make it possible to detect VOCs and alcohol gas.

Products Covered:
Air Purifiers/Air Cleaners
Air Quality Monitors
Consumer Devices
Gas Analyzers & Monitors
Gas Detectors
Heating, Ventilation, and Air Conditioning (HVAC)
Medical Equipment

Output Types Covered:
Digital
Analog

Technologies Covered:
Carbon Nanotubes
Catalytic
Chemiluminescence
Electrochemical
Flame Ionization Detection (FID)
Holographic
Infrared (IR)
Laser
Metal Oxide-Based Gas Sensor
Optical
Paramagnetic
Photo-Ionization Detector (PID)
Polymers
Semiconductor
Solid State/Metal Oxide Semiconductor (MOS)
Surface Acoustic Wave Gas Sensors
Thermal Conductivity Gas Sensor
Ultraviolet
Zirconia

Connectivities Covered:
Wired
Wireless

Gas Types Covered:
Ammonia (NH3)
Hydrogen (H2)
Hydrogen Sulfide (H2S)
Carbon Dioxide (CO2) Sensors
Carbon Monoxide (CO) Sensors
Chlorine (Cl)
Hydrocarbons
Methane (CH4)
Methyl Mercaptan Sensors
Nitrogen Oxide (NOx) Sensors
Oxygen (O2)/Lambda Sensors
Volatile Organic Compounds (VOCs)

Applications Covered:
Aerospace & Defense
Consumer Electronics
Electrical Appliance Products
Industrial Safety
Military
Mining Industry
Oil & Gas
Petrochemical
Power Stations
Water & Wastewater Treatment
Research & Development Labs
Educational Institutions

End Users Covered:
Automotive and Transportation
Food & Beverage Industry
Healthcare
Medical
Metal & Chemical Industry
Smart Cities

Regions Covered:
North America
US
Canada
Mexico
Europe
Germany
UK
Italy
France
Spain
Rest of Europe
Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
South America
Argentina
Brazil
Chile
Rest of South America
Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances