Gas Sensors Market rends, Specifications, Manufacturing, Analysis and Forecasts 2023
The Gas Sensors Market is expected to be valued at USD 1,297.6 million by 2023, growing at a CAGR of 6.83% between 2017 and 2023. The major factors driving the growth of this market include increasing enforcement of occupational health and safety regulations by the government, MEMS-based sensors, development of miniaturized wireless sensors, and increasing awareness of air quality control among users.
This report segments the market on the basis of gas type, technology, end-use application, and geography. The market for oxygen is expected to witness a significant growth during the forecast period. The rising demand for oxygen gas sensors used in the medical sector in devices, such as anesthesia machines, ventilators, oxygen monitors, and analyzers, is driving the oxygen gas sensors market. Also, oxygen gas sensors are used in huge numbers in automotive and transportation applications. The growth in the automotive industry is also driving the oxygen sensors market significantly.
The gas sensors market for the oil & gas industry to hold the largest share during the forecast period. The market for the oil & gas industry is expected to account for the largest market share by 2023 as a result of increasing oil & gas projects, replacement of obsolete sensors, and continuously increasing demand from oil & gas industries from emerging economies. Increasing shale gas production in the US will also drive the gas sensors market in the US.
Consumer electronics is expected to grow at the highest rate during the forecast period. The consumer electronics segment is expected to grow at the highest rate since gas sensors are expected to be integrated into smartphones, tablets, and wearable devices to detect gases such as alcohol, carbon monoxide, carbon dioxide, nitrogen dioxide, and VOCs.
APAC to hold the largest share and is expected to witness the highest growth in the gas sensors market. The major drivers for the rapid growth of the said market in APAC are the rising investments in sectors such as infrastructure, housing, and medical care, which are attributed to the growing population and urbanization in the said region. The strong economic growth and increase in manufacturing industries, such as automotive, and metals and chemicals, in APAC are expected to drive the gas sensors market in this region.
Infrared technology is expected to hold the largest market size by 2023
Infrared sensors offer a number of advantages over other technologies such as catalytic sensors. The functionality of catalytic sensors might degrade while measuring gases such as hydrocarbons and carbon dioxide. Infrared devices can be divided into three types dispersive, multiplex, and nondispersive. The nondispersive infrared (NDIR) sensor is widely used among the three, as it is simpler to design, easy to maintain, and operate; moreover, it is less expensive as compared with other infrared types. Nondispersive infrared (NDIR) is one of the most reliable methods of measuring carbon dioxide (CO2) level in exhaled human breath and thus will find a large number of applications in the medical end-use application.
Oxygen gas sensors to hold the largest market share in 2023
The rising demand for oxygen gas sensors used in the medical sector in devices, such as anesthesia machines, ventilators, oxygen monitors, and analyzers, is driving the oxygen gas sensors market. Also, oxygen gas sensors are used in huge numbers in automotive and transportation applications. The growth in the automotive industry is also driving the oxygen gas sensors market significantly.
The consumer electronics end-use application to grow at the highest rate
The consumer electronics segment is expected to grow at the highest rate as gas sensors are expected to be integrated into smartphones, tablets, and wearable devices to detect gases such as alcohols, carbon monoxide, carbon dioxide, nitrogen dioxide, and VOCs. Key companies in the gas sensors market such as ams AG (Austria) and Sensirion (Switzerland) are working and developing new products for this end-use application.
APAC region to be the highest growing region
The major drivers for the rapid growth of the gas sensors market in APAC are the rising investments in sectors such as infrastructure, housing, and medical care, which are attributed to the growing population and urbanization in the said region. The strong economic growth and increase in manufacturing industries, such as automotive, and metals and chemicals, in APAC are expected to drive the gas sensors market in the said region.
The report also profiles the most promising players in this market. The competitive landscape of the market presents an interesting picture where a large number of players have become a force to reckon with. The key players in this market are City Technology Ltd (UK), Dynament (UK), Alphasense (UK), Amphenol Corporation. (US), Bosch Sensortec (Germany), ams AG (Austria), SenseAir AB (Sweden), Figaro Engineering Inc. (Japan), Membrapor AG (Switzerland), and Sensirion AG (Switzerland), and MSA (US).
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