Gas Sensors Market

Market Synopsis:

The Global Gas Sensors Market was valued at USD 949.09 Million in 2022 and is expected to reach a value of USD 1558.99 Million by 2030. In the projection timelines, the Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 6.40%.

A Gas Sensor is a tool that determines the quantity or presence of gases in the surroundings or atmosphere. It further shows a change in resistance of the material used in the sensor based on the concentration of gases in the environment, which is then utilized to measure the output voltage. The type and concentration of gas are identified based on this variation in voltage value. Gas Sensors can identify volatile substances like gases and the state of the air. These sensors can convert the concentration of an analyte gas into an electronic or electrical signal by detecting and measuring the gas concentration. These sensors are employed in various sectors, including aerospace, energy, defense, and medicine.

The growing demand for Gas Sensors in consumer electronics, the rising use of Gas Sensors in the defense and military sectors, and favorable government laws surrounding the use of Gas Sensors are the key factors influencing the growth of the worldwide gas sensor market. In addition, it is projected that the Internet of Things (IoT) and increased demand for sensors in the construction of smart cities would offer lucrative prospects for the Gas Sensors Market over the forecast period.

On the other hand, the sensors' high initial cost is the main obstacle to their acceptance, which restrains the Gas Sensors Market's expansion.

Market Segmentation:

The Gas Sensors Market is segmented based on Gas Type, Technology, Output Type, Connectivity, Product, Application, and Region. Based on the Gas Type, the market is further segmented into Oxygen (O2), Carbon Monoxide (CO), Carbon Dioxide (CO2), Ammonia (NH3), Chlorine (Cl), Hydrogen Sulfide (H2S), Nitrogen Oxide (Nox), Volatile Organic Compounds, Methane (CH4), Hydrocarbons, and Hydrogen. Furthermore, based on the Technology, the market is further bifurcated into Electrochemical, Photoionization Detection (PID), Solid-State/ Metal-Oxide Semiconductors, Catalytic, Infrared, Laser, Zirconia, Holographic, and Other Technologies (Paramagnetic, Flame Ionization Detection (FID), Chemiluminescence, Carbon Nanotubes, Polymers, and Ultraviolet). In addition, based on Output Type, the market is further divided into Analog and Digital. Likewise, based on Connectivity, the market is further segmented into Wired and Wireless. Furthermore, based on the Product, the market is further divided into Gas Analyzers & Monitors, Gas Detectors, Air Quality Monitors, Air Purifiers/ Air Cleaners, Heating Ventilation & Air Conditioning (HVAC), Medical Equipment, and Consumer Devices. In addition, based on the Application, the market is further bifurcated into Automotive & Transportation, Smart Cities & Building Automation, Oil & Gas, Water & Wastewater Treatment, Food & Beverage, Power Stations, Medical, Metal & Chemical, Mining, and Consumer Electronics Industry.

Based on Gas Type:

Carbon Dioxide (CO2) category dominated the market in 2021

The Gas Sensors Market was dominated by carbon dioxide (CO2) in 2021, and it is expected that this trait is continued in the forecast time. Carbon Dioxide (CO2) sensors are primarily used to monitor indoor air quality in homes, offices, cars, hospitals, and other settings. Therefore, many businesses are concentrating on creating Micro-Electromechanical Systems (MEMS) based Carbon Dioxide sensors for various applications. Likewise, during the forecast years, it is predicted that the Carbon Monoxide (CO) sensor segment will grow significantly. The need for Carbon Monoxide sensors is being driven by deaths caused by Carbon Monoxide poisoning. Furthermore, the market for Carbon Monoxide sensors is expanding due to government laws ensuring worker safety, further leading to market growth in the segment.

Based on Connectivity:

Wired dominated the market in 2021

The Wired segment dominated the Gas Sensors Market in 2021 and is projected to continue its dominance in the projection timelines. The benefits of Wired Gas Sensors are their higher accuracy, reduced cost, small size, and ease of maintenance. In addition, due to its direct connection to the unit receiving the input and suitability for usage in mines, oil rigs, and nuclear power plants, wired sensors are frequently among the most reliable systems. Furthermore, the growing use of Wired Gas Sensors in residential applications is another important driver of the market's expansion in the projected period.

Based on Regional Analysis:

Asia Pacific is projected to grow at a significant rate during the forecast period

The Asia Pacific is accounted to grow remarkably during the forecast timelines. During the projected period, the gas sensor market in the Asia Pacific is anticipated to develop at the highest CAGR. The region's gas sensor market is expanding due to rising pollution levels in Asia Pacific nations. Air purifiers, air cleaners, and air quality monitors are becoming more and more popular as people become more conscious of how air pollution affects human health. As a result, the market for Gas Sensors in the Asia Pacific is expanding.

Recent Developments:

• In August 2020, for applications such as automated air quality control systems (air purifiers, kitchen hoods, demand-controlled ventilation systems, etc.) and air quality monitoring, Sensirion AG (Switzerland) introduced the new SGP40 VOC sensor.
• In May 2019, for USD 33 million, MSA Safety Inc. (US) purchased Sierra Monitor Corporation (US), a top supplier of industrial Internet of Things (IIoT) solutions and fixed gas and flame detection (FGFD) sensors.

Competitive Landscape:

The key players in the Global Gas Sensors Market include- Honeywell Analytics (UK), MSA Safety Inc. (US), Amphenol (US), Figaro Engineering (Japan), Alphasense Ltd. (UK), Sensirion AG (Switzerland), Dynament Ltd. (UK), AMS AG (Austria), Membrapor AG (Switzerland), Senseair AB (Sweden) and others.

Segmentation of the Global Gas Sensors Market: