Gas Sensor Market to be Worth $5.49 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, May 10, 2023 /PRNewswire/ -- The global gas sensor market size is expected to reach USD 5.49 billion by 2030, registering a CAGR of 9.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market growth can be attributed to the increasing number of health and safety regulations by the governments of different countries. Furthermore, the need to constantly control and monitor gas emissions by various industrial processes creates more demand for gas sensors globally.

Key Industry Insights & Findings from the report:

• The oxygen/lambda sensor segment is expected to witness significant growth over the forecast period. The increasing adoption of oxygen gas sensors in applications such as medical equipment, wearable devices, food and beverage production, and environmental monitoring, among others is expected to drive the growth of the segment.

• The wireless segment is anticipated to emerge as the fastest-growing segment over the forecast period. The demand for wireless gas sensors is rising owing to the benefits, such as ease of installation and flexibility, real-time monitoring, improved safety, and reduced installation cost as wireless gas sensors require minimal wiring, which saves time and money. In addition, these sensors provide continuous gas monitoring, allowing for prompt identification and response to hazardous situations.

• The electrochemical technology segment accounted for the largest market share in 2022. The demand for electrochemical gas sensors is rising owing to the ability of these sensors to detect harmful gas emissions and help in improving air quality. These sensors are widely used in industries such as oil and gas, petrochemicals, and manufacturing to detect toxic and flammable gases.

• The environmental end-use segment is anticipated to emerge as the fastest-growing segment over the forecast period. The increasing number of smart city projects being rolled out worldwide is driving the demand for IoT-enabled gas sensors for monitoring environmental gas.
• The Asia Pacific region accounted for the largest market share in 2022. Rapid urbanization in emerging economies, such as China and India, is expected to create growth opportunities for the Asia Pacific regional market.

Read full market research report, "Gas Sensor Market Size, Share & Trends Analysis Report By Product (Oxygen /Lambda Sensors, Carbon Dioxide Sensors), By Type (Wired, Wireless), By Technology, By End-use, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Gas Sensor Market Growth & Trends

According to the researchers at Northeastern and Penn State University, wearable gas sensors for human health and environmental monitoring are expected to be commercially available in the coming years. These sensors use a self-heating mechanism that enhances sensitivity and allows for the quick reuse and recovery of the platform.

Miniaturization, smart sensors, multi-gas sensing, IoT integration, and the development of new sensing technologies are key trends shaping the growth and development of the gas sensor industry. IoT-based wireless gas sensors are used in smart cities to predict fire conditions, detect air pollution levels, and track gas combustion. Through IoT gas sensors, air quality data can be collected, processed, analyzed, and exchanged in real-time potentially leading to heathier smart cities. Moreover, gas sensors can potentially help in assessing the levels of various gases such as carbon dioxide, carbon monoxide, and other gases in the air and contribute favorably to curbing air pollution.

The outbreak of the COVID-19 pandemic is anticipated to create new opportunities for the market players. The demand for carbon dioxide gas sensors is expected to increase significantly in particular. Carbon dioxide gas sensors are being used widely in European countries for monitoring the indoor environment in schools to control the spread of coronavirus. Guidelines published by the Federation of European Heating, Ventilation, and Air Conditioning Associations also recommend installing carbon dioxide monitoring systems in schools.

Gas Sensor Market Segmentation

Grand View Research has segmented the global gas sensor market based on product, type, technology, end-use, and region

Gas Sensor Market - Product Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)

• Oxygen (O2)/Lambda Sensors
• Carbon Dioxide (CO2) Sensors
• Carbon Monoxide (CO) Sensors
• Nitrogen Oxide (NOx) Sensors
• Methyl Mercaptan Sensor
• Others (Hydrogen, Ammonia, Hydrogen Sulfide)

Gas Sensor Market - Type Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)

• Wireless
• Wired

Gas Sensor Market - Technology Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)

• Electrochemical
• Semiconductor
• Solid State/MOS
• Photo-ionization Detector (PID)
• Catalytic
• Infrared (IR)
• Others

Gas Sensor Market - End-use Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)

• Medical
• Building Automation & Domestic Appliances
• Environmental
• Petrochemical
• Automotive
• Industrial
• Agriculture
• Others

Gas Sensor Market - Regional Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• U.K.
• Germany
• France
• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• South America
• Brazil
• Middle East & Africa
• Kingdom of Saudi Arabia
• UAE
• South Africa

List of Key Players in the Gas Sensor Market

• ABB Ltd.
• AlphaSense Inc.
• City Technology Ltd.
• Dynament
• Figaro Engineering Inc.
• Membrapor
• Nemoto & Co. Ltd.
• Robert Bosch LLC
• Siemens
• GfG Gas Detection UK Ltd.
• FLIR Systems, Inc.

Check out more market research studies published by Grand View Research:

• Pressure Sensor Market - The global pressure sensor market is expected to reach USD 26.44 billion by 2030, registering a compound annual growth rate (CAGR) of 4.4% from 2022 to 2030, according to a new report by Grand View Research, Inc. The market growth can be attributed to the increasing demand for pressure sensors in the automotive sector, such as the measurement of oil pressure in power steering, intake manifold pressure, and fuel pressure measurements in tanks. Moreover, the growing application of pressure sensors in various end-use industries such as aviation and consumer electronic applications bodes well for the growth of the market during the forecast period.
• Light Sensor Market - The global light sensor market size is anticipated to reach USD 6.39 billion by 2027, according to a new study conducted by Grand View Research, Inc. It is expected to expand at a CAGR of 10.9% from 2020 to 2027. Market growth can be attributed to the growing implementation of light sensor functions in the automotive industry and consumer electronics, such as smartphones, televisions, and laptops. Advancements in smart lighting and its applications in smart homes and outdoor lighting are also expected to increase the utility of light detectors. In addition, the increased usage of connected devices and the Internet of Things (IoT) technology in the development of smart cities is expected to propel the growth of the market.
• Virtual Sensors Market - The global virtual sensors market size is expected to reach USD 1.4 billion by 2025, expanding at a CAGR of 27.2%, according to a new report by Grand View Research, Inc. Growing use of virtual sensors in the human activity recognition and in the healthcare domain is driving the market. Implementation of cloud platforms integrated with IoT applications is driving the market growth.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

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.

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