BANGALORE, India, Feb. 26, 2021 /PRNewswire/ -- The Gas Sensor Market is Segmented Type (Carbon Monoxide, Methane, Hydrogen, Ammonia, Oxygen, and Others), Technology (Infrared Gas Sensor, Photoionization Sensor, Electrochemical Gas Sensor, Thermal Conductivity Gas Sensor, Metal Oxide-Based Gas Sensor, Catalytic Gas Sensor, and Others)and End Use (Defense & Military, Healthcare, Consumer Electronics, Automotive & Transportation, Industrial, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2027. This report is published on Valuates Reports in the Industrial Materials & Equipment Category.
The global gas sensor market size was valued at USD 823.1 Million in 2019 and is projected to reach USD 1,336.2 Million by 2027, growing at a CAGR of 6.4% from 2020 to 2027.
Major factors driving the growth of gas sensor market size are the formulation and implementation of various health and safety regulations across the globe, increased adoption of gas sensors in HVAC systems and air quality monitors, rise in demand for gas sensors from critical industries, increased air pollution levels, and the need to monitor air quality in smart cities.
The emergence of gas sensors in the HVAC systems is expected to drive the growth of the gas sensor market size. By eliminating contaminants from the atmosphere by proper ventilation and pressurization, the HVAC system provides fresh and pure indoor air. Gas sensors are increasingly used in HVAC systems in all major industries to identify and analyze the levels of harmful substances found in the environment, including the presence of combustible gases and toxic elements.
Growing trends toward the internet of things (IoT) are expected to fuel the gas sensor market size. As we are heading toward automation-based technologies and services in the new IT-dominant environment, there is an increase in emphasis on IoT-based devices. The IoT uses electronic software, sensors, and actuators to link all these items to a common network. Multiple sensors such as contact sensor, proximity sensor, gas sensor, and temperature sensor are used in various IoT solutions and products.
The rising number of smart city projects in developing countries will drive gas sensor market size during the forecast period. Rising levels of environmental pollution and increasingly worsening indoor air quality is driving the demand for gas sensors. Gas sensors can be used in smart cities for environmental control applications.
Furthermore, it is expected that strict laws and regulations requiring gas detectors' deployment would drive the growth of gas sensor market size during the forecast period.
Based on type, the oxygen gas segment is projected to hold the largest gas sensor market share.
Oxygen detectors are commonly used for automobiles, smart cities & building automation, food & beverages, and other industrial applications. Another major area where oxygen sensors are used is medical equipment. Incubators and other hypoxic life science devices, anesthesia monitors, respirators, and oxygen concentrators use these oxygen sensors.
The industrial segment dominated the gas sensor market share during the forecast period.
This is due to the government's strict regulations to ensure the occupational health and safety of workers.
Based on region, the North America region is expected to exhibit the highest CAGR of 14.9% during 2020-2027.
On the other hand, the Asia Pacific region is expected to hold the largest gas sensor market share.
Demand for gas sensors for air quality monitoring is motivated by increased awareness of the effect of air pollution on human health across Asia-Pacific countries. Furthermore, continued urbanization is also leading to the demand for gas sensors in the Asia-Pacific region.
Europe is expected to witness steady growth over the forecast period.
This regional market's growth is expected to be driven by strict requirements relating to gas emissions and the resulting need to control emissions.
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SIMILAR REPORTS :
- IoT Sensors market was valued at USD 6,926.3 Million in 2019 and it is expected to reach USD 22,020 Million by the end of 2026, growing at a CAGR of 18.0% during the forecast period 2021-2026. Rising demand for IoT integration in industries that involve sensor-based measurements for purposes of analysis and decision support is expected to increase the IoT sensor market size during the forecast period.
- Wireless Gas Detection market size is projected to reach USD 2464.1 Million by 2026, from USD 1462.1 Million in 2020, at a CAGR of 9.1% during 2021-2026.
- Industrial Sensors market size is projected to reach USD 20010 Million by 2026, from USD 14940 Million in 2020, at a CAGR of 5.0% during 2021-2026.
- Electrochemical Gas Sensors market size was USD 171.2 Million in 2019, and it is expected to reach USD 211 Million by the end of 2026, with a CAGR of 3.0% during 2021-2026.
- Air Quality Sensor market market size is projected to reach USD 845 Million by 2027, from USD 352.5 Million in 2020, at a CAGR of 13.3% during 2021-2027.
- Environmental Sensor market size is projected to reach USD 1798.7 Million by 2026, from USD 1296.2 Million in 2020, at a CAGR of 5.6% during 2021-2026.
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