SAN FRANCISCO, March 10, 2020 /PRNewswire/ -- The global gas sensor market size is anticipated to reach USD 4.10 billion by 2027, registering a CAGR of 8.3% from 2020 to 2027, according to a new report by Grand View Research, Inc. Factors such as increased demand for smart and wireless gas sensors and regulatory initiatives in developed markets of North America and Europe have propelled the adoption of gas sensors. The introduction of embedded electronics, coupled with sophisticated firmware and improved manufacturing techniques, has enabled developments in gas detection technologies.
Key suggestions from the report:
The demand for gas sensors has increased over the years owing to their reliability in performance, real-time monitoring, and cost effectiveness
The demand for oxygen sensors is expected to be supported by the improved precision, decreasing per unit cost of sensors, and growing applications across end-use industries
The wired segment dominates the gas sensor market owing to the cost-effectiveness and accuracy. However, the demand for wireless segment is expected to witness significant over the forecast period, owing to the less complexity and easy accessibility
The high demand for electrochemical sensor can be attributed to their use in applications such as indoor air quality detection, emission control, and landfill gas detection
The U.S. government is investing considerable amount of monetary and non-monetary resources to encourage the adoption of gas sensors across various sectors and carry out initiatives such as smart cities
Stringent safety regulations to protect workers from hazardous gases in industries are boosting the market growth
Key market players include AlphaSense, City Technology Ltd.,Dynament Ltd., Figaro Engineering, Membrapor AG, Nemoto & Co., Ltd., Robert Bosch LLC., ABB Ltd., Siemens AG, and GfG Europe Ltd
A gas sensor is a device that detects the presence of gases in a particular area and is often integrated into a safety system. These sensors consume low power and can be integrated into portable handheld devices, which is expected to create opportunities for market growth.Technological developments, such as enhancement of Microelectromechanical Systems (MEMS) sensors, and need for hydrogen detection on account of its use as a fuel are also expected to contribute to the growth.
The increased adoption of gas sensors can be attributed to the high need for safety in the industrial sector such as oil and gas, power generation, and manufacturing.For instance, theOccupational Safety and Health Administration under the U.S. Department of Labor has implemented the Health and Safety at Work Act, which requires industrial facilities to install gas sensors for monitoring the emission levels and air quality among industries. In addition, implementation of advanced wireless sensor technologies with mesh network in industries is further creating opportunities for the market growth. The infrared technology segment is anticipated to witness substantial growth as it enables the measurement of a wide variety of gases including methane, carbon dioxide, and Volatile Organic Compounds (VOC) such as acetylene, benzene, and butane. This is anticipated to further fuel the market growth.
Grand View Research has segmented the global gas sensor market based on product, type, technology, end use, and region:
Gas Sensor Product Outlook (Volume, Million Units; Revenue, USD Million, 2016 - 2027)
Carbon Dioxide Sensors
Carbon Monoxide Sensors
Methyl Mercaptan Sensor
Others (Hydrogen, Ammonia, Hydrogen Sulfide)
Gas Sensor Type Outlook (Volume, Million Units; Revenue, USD Million, 2016 - 2027)
Gas Sensor Technology Outlook (Revenue, USD Million, 2016 - 2027)
Gas Sensor End-Use Outlook (Volume, Million Units; Revenue, USD Million, 2016 - 2027)
Building Automation & Domestic Appliances
Gas Sensor Regional Outlook (Revenue, USD Million, 2016 - 2027)
Flow Meters Market– The adoption of flow meters is expected to increase as rapid urbanization triggers the need for better water and wastewater management.
Motion Sensor Market– Significant opportunities in the consumer electronics segment are likely to enhance market growth. For instance, trends in wearable devices have resulted in enormous demand for their variants.
Magnetic Sensor Market– Growing emphasis on automobile safety, coupled with steadily declining prices of sensors, has supported product demand. Integration of sophisticated technology in consumer electronics is also expected to drive the magnetic sensor market.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.