Overview and Scope
Gas sensors detect the concentration and presence of a wide range of hazardous gases and vapors, such as volatile organic compounds (VOCs), humidity, and odors. It is crucial for the effective detection and monitoring of dangerous inert gases in a variety of sectors.
Sizing and Forecast
The gas sensors market size has grown rapidly in recent years. It will grow from $2.16 billion in 2023 to $2.38 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to environmental concerns and regulations, growing industrialization, consumer electronics integration, healthcare applications, automotive emission control, rise in oil & gas exploration..
The gas sensors market size is expected to see strong growth in the next few years. It will grow to $3.47 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to stringent environmental regulations, rising industrial automation, continued expansion in oil & gas industry, healthcare sector growth, automotive industry demand.. Major trends in the forecast period include rapid urbanization, iot integration, smart manufacturing, healthcare applications, automotive safety regulations, miniaturization and portability..
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The gas sensors market covered in this report is segmented –
1) By Gas Type: Carbon Monoxide, Methane, Hydrogen, Ammonia, Oxygen, Other Gas Types
2) By Technology: Infrared Gas Sensor, Photo Ionization Sensors, Electrochemical Gas Sensors, Thermal Conductivity Gas Sensors, Metal Oxide-Based Gas Sensor, Catalytic Gas Sensor, Other Technologies
3) By End Use: Defense And Military, Healthcare, Consumer Electronics, Automotive And Transportation, Industrial, Other End Users
Asia-Pacific was the largest region in the gas sensor market in 2023. The regions covered in the gas sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing air pollution is expected to propel the growth of the gas sensor market going forward. Air pollution refers to the presence of harmful substances in the air that can have negative impacts on human health and the environment. These substances include particulate matter, ozone, nitrogen oxides, sulfur dioxide, and other chemicals and particles that are released into the air. Gas sensors are devices that are used to detect the presence and concentration of certain gases in the air. They can also be used to detect gas leaks and help prevent dangerous situations. For instance, in November 2022, according to the report published by World Economic Forum, a Switzerland-based independent international organization, in 2021, the global atmospheric CO2 concentration climbed by 2.5 parts per million (ppm), and it is anticipated that it will rise by another 2.5 ppm in 2022, bringing the average annual worldwide atmospheric concentration to 417.2 ppm. This amounts to a roughly 51% increase in atmospheric CO2 above pre-industrial levels. Therefore, the increasing air pollution is driving the growth of the gas sensor market.
Key Industry Players
Major companies operating in the gas sensor market are focused on the integration of new technologies, such as Micro-Electro-Mechanical Systems (MEMS) technology, to strengthen their position in the market. A micro-electromechanical system (MEMS) is a small device with electronic and mechanical components that move through microscopic sensors, actuators, and transducers. For instance, in March 2022, Figaro Engineering Inc., a Japan-based semiconductor gas detection sensor manufacturing company, introduced the methane gas sensor TGS8410, a metal oxide semiconductor (MOS) type gas sensor combined with the newest Micro-Electro-Mechanical Systems (MEMS) technology to produce the lowest power consumption methane gas sensor available. A methane gas detector can run on a single lithium battery (2.8 volts/2400 milliampere-hour (mAh)) for up to five years because the average power consumption is less than 0.1 mW (milliwatt).
The gas sensors market report table of contents includes:
1. Executive Summary
2. Gas Sensors Characteristics
3. Gas Sensors Trends And Strategies
4. Gas Sensors – Macro Economic Scenario
5. Global Gas Sensors Size and Growth
…..
32. Global Gas Sensors Competitive Benchmarking
33. Global Gas Sensors Competitive Dashboard
34. Key Mergers And Acquisitions In The Gas Sensors
35. Gas Sensors Future Outlook and Potential Analysis
36. Appendix
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