GAS SENSOR MARKET ANALYSIS

The global gas sensor market size was valued at US$ 2.8 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 10.2% from 2023 to 2030. The global gas sensor market is expected to grow rapidly during the forecast period owing to growing safety concerns and air pollution. Various government regulations have been implemented worldwide to reduce the pollution level, which is resulting in surge in demand for gases sensors across different industries in bid to monitor air quality. The development of wireless capabilities and miniaturization of the sensor along with improved communication capabilities is fostering the growth of the market.

Global Gas Sensor Market: Regional Insights

The global gas sensor market is regionally divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

Among regions, North America is expected to show promising growth in the global gas sensor market over the forecast period. This can be attributed to rise in disposable income of the population in the region leading to growing sales of equipped gas sensors. Moreover, the region is witnessing development in the energy and power industry toward adoption of advanced technology. This in turn is supporting the market growth across the region. Furthermore, rising development of miniaturization and wireless capabilities with advanced communication capabilities is also driving growth of the market in the region.

Europe is projected to exhibit significant growth in the global gas sensor market during the forecast period, owing to growing technological developments across several industries, rise in purchasing power of the population in the region, and increasing sales of high-end sensors and other devices. The use of smart sensors in oil and gas industry of the region is high, which further create several opportunities for the market in the region.

Figure 1. Global Gas Sensor Market Share (%), By Region, 2022

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Global Gas Sensor Market Drivers:

Advent of gas sensors in HVAC system to boost the market growth

HVAC systems offer pure and fresh indoor air, as they make the environment pollutants free by using appropriate ventilation and pressurization. These systems are being used in oil and gas industry along with refineries, petroleum, and other applications. These industries require processes carrying toxic or combustible materials. Thus, use of gas sensors is increasing in HVAC systems for detecting and analyzing the level of toxicity present in the environment. Such HVAC systems are being used across several industries involving a presence of toxic elements and combustible gases. Thus, this factor is expected to aid in growth of the global gas sensor market over the forecast period.

Rise in need for air quality monitoring in smart cities to propel the market growth

Growing air pollution has become a major environmental issue all over the world. As per the World Health Organization (WHO), nearly 80% of the urban areas are recoding air pollution levels beyond acceptable values. Thus, the need for controlling air pollution levels is increasing globally. The use of gas sensors is on the rise in smart cities for monitoring levels of pollution specifically for smart infrastructures. The applications of air quality monitoring are increasing in areas such as public venues, markets, parks, and other major venues in the cities. Thus, this factor is further anticipated to augment growth of the global gas sensor market during the forecast period.

Global Gas Sensor Market Opportunities:

Increasing adoption of Internet of Things (IoT) is bringing multiple opportunities in the global gas sensor market. The adoption of automation-based services and solutions is increasing as the world has become IT-dominant. As a result, the adoption of IoT-based devices has increased, owing to their advanced and innovative applications. IoT provides internetworking or internet for all types of applications such as microwave, smartphones, defense & military, refrigerators, buildings, and healthcare. IoT technology incorporates many sensors such as proximity sensors, touch sensors, temperature, and gas sensors. Thus, with increasing adoption IoT, the market is likely to see growth opportunities in the near future.

Growing demand for electrochemical technology to generate business opportunities in the global gas sensor market during the forecast period. Due to the higher specificity toward target gas and safe operating requiring less power, the demand for electrochemical technology is growing. Moreover, this technology can quickly oxidize the toxic gas. It can determine and measure the concentration of harmful gas. Thus, the demand for electrochemical techniques is high in mining industry. This in turn is creating growth opportunities in the global gas sensor market.

Global Gas Sensor Market Trends:

Increasing demand in industrial applications is a major trend in the market

Various gases are used as raw materials across different industries. Controlling and monitoring these gases has become crucial, as they pose major risk of damaging human lives and property in case of a leak. The need for constant monitoring and controlling the gases emitted has led to the demand for gas sensors in industrial applications. This trend is expected to continue in the global gas sensor market over the forecast period.

Integration of infrared technology in gas sensors is a new trend in the market

Integrating infrared technology in gas sensors has been found to be beneficial in extending the life of the product and improving the efficiency to identify hydrocarbon gas detection. The rise in need for gas sensors integrated in infrared technology is thus increasing rapidly across various industries. This trend is thus expected to support growth of the global gas sensor market over the forecast period.

Global Gas Sensor Market Restraints:

High cost of devices to limit the market growth

The automation in electronic devices is supported by addition of sensors. However, the use of sensors incurs additional cost due to which the use of such devices is avoided in cost-effective end uses. Incorporating sensors further facilitates additional features and increases automation of the devices. Moreover, the use of such sensors in laptops, smart phones, and cameras leads to heating issues, when these devices are used for a long time. Thus, these factors are in turn likely to hinder growth of the global gas sensor market over the forecast future.

Technical complications such as high consumption of energy to hinder the market growth

High consumption of energy is a major factor among several others that is likely to impact adoption of gas sensor market during the forecast period. These sensors are difficult in fabrication and have high sensitivity to environmental conditions. Gas sensors need timely and proper maintenance as well as replacement for avoiding issues related to sensitivity and accuracy. Thus such technical complications are anticipated to hinder growth of the global gas sensor market during the forecast period. However, with increasing technological development addressing such complications, the market is likely to show growth in the coming future.

Figure 2. Global Gas Sensor Market Share (%), By Gas Type, 2022

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Global Gas Sensor Market Segmentation:

The global gas sensor market report is segmented into Gas Type, Technology, and End User.

Based on Gas Type, the market is segmented into Carbon Monoxide, Methane, Hydrogen, Ammonia, Oxygen, and Others. Out of which, Carbon Monoxide is expected to dominate the global market over the forecast period and this is attributed to the increasing development of gas sensors or detectors for reducing the exposure to carbon monoxide gas all over the world. Gas sensors can detect the presence of this gas at concentration from 10 to 10,000ppm.  With increasing concerns regarding harmful effects of this gas on environment is leading to development of novel gas sensors or detectors. As a result, the segment is likely to gain substantial growth in the market.

Methane segment is also expected to witness significant growth in the near future and this is owing to the increasing demand for gas sensors capable of detecting methane gas. The use of gas sensors that can detect methane gas is widespread across several industries owing to their advantages. These sensors offer high efficiency and various operations in the changing environment. Thus, with growing demand for methane detecting gas sensors, the segment is likely to show strong growth in the coming future.

Based on Technology, the market is segmented into Infrared Gas Sensor, Photo Ionization Sensor, Electrochemical Gas Sensor, Thermal Conductivity Gas Sensors, Catalytic Gas Sensors, and Others. Out of which, Infrared Gas Sensor is expected to dominate the global market over the forecast period and this is attributed to the growing advancements in sensors promoting use of infrared technology for gas detection. With increasing incorporation of IoT in infrared gas detection has led to rise in penetration of the product in industrial applications. Thus, the segment is likely to show substantial growth in the coming future.

Photo Ionization Sensor segment is also expected to witness significant growth in the near future and this is owing to the rise in adoption of photo ionization sensors for sensing volatile organic compounds and other gases. This method is one of the efficient and affordable method of detecting several vapor analytes and gases. Thus, adoption of these sensors is increasing across several industries, which in turn is driving growth of this segment.

Based on End User, the market is segmented into Defense & Military, Healthcare, Consumer Electronics, Defense & Military, Automotive & Transportation, Industrial, and Others. Out of which, Defense & Military is expected to dominate the global market over the forecast period and this is attributed to the increasing technological advancements in the sector leading to rise in adoption of autonomous technology. The demand for gas sensors is thus increasing in defense and military sector. Thus, the segment is anticipated to show strong growth in the near future.

Healthcare segment is also expected to witness significant growth in the near future and this is owing to the growing need for gas sensors in healthcare industry across various applications. The adoption of autonomous technology has been increasing in the industry. The use of gas sensors across various medical equipment is driving the demand for global gas sensor market in the healthcare industry.

Global Gas Sensor Market: Key Developments

In June 2022, Industrial Scientific revealed that its Radius BZ1 Area Monitor has become suitable for chlorine dioxide (ClO2), hydrogen chloride (HCl), and infrared (IR) sensors within the SafeCore module. The Radius BZ1 with this novel offerings can now be utilized for detecting hazardous gases in perimeter monitoring, fence line, hot work, and other applications of area monitoring.

In August 2020, Sensirion AG launched SGP40 VOC, a sensor for predicting air quality indoors and for monitoring it. The new product is an automated system that constantly monitors the air quality.

In December 2021, AMETEK, Inc. completed acquisition of Alphasense, a gas and particulate sensor provider. The company provides particulate and gas sensors for use in various applications including health and safety, environmental, and air quality applications.

In April 2022, Sensirion introduced its SEN50 and SEN55 solutions of environmental sensing to measure relevant environmental parameters. The SEN50 environmental node belongs to the SEN5x series and is a straightforward platform of sensor solution for precise measurement of particulate matter.

Global Gas Sensor Market: Key Companies Insights

The global gas sensor market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players in the global gas sensor market are Honeywell, Sensirion, Gastec Corporation, Nemoto Sensor-Engineering, Figaro Engineering Inc., Figaro Engineering Inc., Alphasense, MSA, Membrapor, Amphenol, and Dynament

*Definition: A Gas Sensor is an instrument that measures the concentration of gases in an environment. Whether it's for health and safety, industrial production, or just to provide comfort for homeowners, a gas detector is an important device for many applications.