Global Gas Sensors Market
Report Id: 44243 | Published Date: Jul 2024 | No. of Pages: 10 | Base Year for Estimate: Jul 2024 | Format:
Gas sensors are essential for safety monitoring in industries that deal with toxic or combustible gases. They help provide real-time data in various settings, including chemical plants and manufacturing facilities, to help prevent accidents and protect workers. This information helps to evaluate environmental conditions, allowing for timely interventions to improve air quality. They are also critical for detecting leaks in pipelines, industrial equipment and storage tanks.
The global gas sensors market was valued at USD 2.91 billion in 2023 and is projected to reach USD 3.28 billion by 2031, growing at a CAGR of 9.6% from 2023-2032. The market is driven by advancements in miniaturization, wireless capabilities and communication technologies, enabling gas sensors to detect toxic gases from a safe distance. These sensors monitor emissions in various industries and the growing need to control harmful emissions is further boosting the market growth.
Global Gas Sensors Market Dynamics:
Drivers: Environmental monitoring, growth of IoT & connected devices and advancements in sensor technology.
-Stringent environmental regulations and growing awareness of air quality issues necessitate gas sensors for monitoring pollutants in industrial emissions, air quality monitoring stations, and leak detection systems.
-The rise of IoT devices and connected sensors creates a demand for miniaturized, low-power gas sensors that can be integrated into smart homes, wearables, and industrial monitoring systems.
-Developments in sensor materials and fabrication techniques lead to gas sensors with improved sensitivity, selectivity, and faster response times, enabling more accurate and reliable gas detection.
Restraints: High costs, specificity & cross-sensitivity challenges and limited standardization.
-Advanced gas sensors with high selectivity and sensitivity can be expensive, and some sensor types have limited lifespans, requiring replacements and adding to operational costs.
-Some gas sensors may exhibit cross-sensitivity to multiple gases, leading to potential false positives or inaccurate readings. Developing highly specific sensors for targeted gas detection remains a challenge.
-A lack of complete standardization across different gas sensor technologies can create compatibility issues and hinder integration with existing systems in some cases.
Opportunities: Focus on miniaturization, focus on wireless connectivity & cloud-based monitoring and focus on self-calibration.
-Developing miniaturized and low-power gas sensors caters to the growing demand for integration into portable and battery-powered IoT devices.
-Developing gas sensors with wireless communication capabilities and cloud-based data transmission enables remote monitoring, real-time data analysis, and improved response times to gas leaks or safety hazards.
-Implementing self-calibration features and diagnostic capabilities within gas sensors can improve operational efficiency and reduce reliance on external expertise for maintenance.
Market By Global Gas Sensors Market Type Insights:
Based on type, the market is segmented into Wireless and Wired. Wire gas sensors account for a major share of the market due to their reliability, cost-effectiveness, suitability for industrial applications requiring continuous monitoring, and ease of installation in facilities with existing wiring infrastructure.
Based on technology, the market is segmented into Electrochemical, Semiconductor, Solid State/MOS, Photo-ionization Detector (PID), Catalytic and Infrared (IR). Electrochemical gas sensors dominated the market in 2023 due to their versatility, cost-effectiveness, high sensitivity, low power consumption and mature manufacturing processes.
Market By End-Use Insights:
Based on end-use, the Industrial sector is the leading segment as industrial facilities depend on gas sensors for detecting hazardous leaks and ensuring safety. Significant, growth is expected in building automation, environmental monitoring and medical applications due to their rising air quality concerns, smart home safety and advancements in medical diagnostics.
Market By Region Insights:
Based on regional coverage, the market can be segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. In 2024, the Asia-Pacific region is scheduled to rule the global gas sensors market because at this time steering industrialization and government regulations on safety. The growth of stricter air quality regulations and the overall cost-conscious market, which favours wired and electrochemical sensors used in residential IAQ applications are the major drivers leading this trend; as well as increased domestic production on account of lower costs.
Competitive Scenario:
Major market players include ABB Ltd.; AlphaSense Inc.; Nemoto & Co. Ltd.; City Technology Ltd., Dynament; Figaro Engineering Inc.; Membrapor; GfG Gas Detection UK Ltd. Robert Bosch LLC; Siemens; and FLIR Systems, Inc.
Scope of Work-Global Gas Sensors Market
Key Market Developments:
February 2023-The NDIR (non-dispersive infrared) CO2 sensor CDM7162 is compact with a thickness of only 8 mm and the module achieves long-term reliability using both single-light-source dual-wavelength system technology in combination with its signal processing technology. Application areas for the sensor are ventilation control and indoor air quality control.
April 2023-Figaro Engineering showcased its newest lineup of gas sensors at the NFPA Conference trade show in Las Vegas. This covers an electrochemical carbon monoxide sensor for unconditioned space; an ultra-low power battery operable methane sensor, TGS8410; and a highly sensitive hydrogen sensor, TGS2616
December 2023-CO2 Meter. com, an Orlando Florida company announced its launch of the CM-900 industrial gas detector for measuring either Carbon Dioxide (CO2) or Oxygen and providing personnel working near dangerous gasses greenhouse gas protection. The new CM-900 detector is enclosed in a robust, industrially suitable enclosure for rugged conditions such as harsh and wash-down environments. It also includes audible and visual alarms that warn people of unsafe conditions immediately.
Frequently Asked Questions (FAQs)
What is the size of the global gas sensors market?
Ans. As of 2023, the global gas sensors market was valued at approximately USD 2.91 billion.
What are the key drivers of the gas sensors market?
Ans. Key drivers include environmental monitoring, the growth of IoT & connected devices and advancements in sensor technology.
What are the major challenges in the gas sensors market?
Ans. Challenges include High costs, specificity & cross-sensitivity challenges and limited standardization.
What are some of the growth opportunities in the gas sensors market?
Ans. Opportunities include a focus on miniaturization, a focus on wireless connectivity & cloud-based monitoring and a focus on self-calibration.
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