GAS SENSOR MARKET ANALYSIS

Gas Sensor MarketSize and Trends

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 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.

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

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