Market Challenges And Opportunities

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 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