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Gas Sensor Market worth $2.1 Billion USD by 2027, at CAGR of 8.9%

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Gas Sensor Market worth $2.1 Billion USD by 2027, at CAGR of 8.9%

September 12
17:46 2022
Gas Sensor Market worth $2.1 Billion USD by 2027, at CAGR of 8.9%
Gas Sensors Market
The Gas Sensors Market is expected to reach USD 2.1 Billion by 2027 from USD 1.4 Billion in 2022 to grow at a CAGR of 8.9% during the forecast period.

The report “Gas Sensor Market by Gas Type (Oxygen, Carbon Monoxide, Carbon Dioxide, Nitrogen Oxide, Volatile Organic Compounds, Hydrocarbons), Technology, Output Type, Product Type, Application and Region – Global Forecast to 2027” The gas sensor market is projected to grow from USD 1.4 Billion in 2022 to USD 2.1 Billion by 2027; it is expected to grow at a CAGR of 8.9% during the forecast period. The growth of the market is attributed to the growing air pollution levels and need for air quality monitoring in smart cities and growing adoption of gas sensors in consumer electronics. During the forecast period, increasing integration of gas sensors in HVAC systems and air quality monitors is expected to create growth opportunities for the market.

• Informational PDF Brochure :- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=245141093

Browse 178 market data Tables and 65 Figures spread through 285 Pages and in-depth TOC on “Gas Sensor Market by Application and Region – Global Forecast to 2027” View detailed Table of Content herehttps://www.marketsandmarkets.com/Market-Reports/gas-sensor-market-245141093.html

Gas Sensor Market

Gas Detector product type to account for larger share of gas sensor market in 2022

Gas detector accounted for a larger share of the gas sensor market in 2021, and it is expected to remain dominant throughout the forecast period. The major application areas of these gas detectors are in the automotive, metal & chemical, oil & gas, food & beverage, mining, medical, and power station industries. Further, the surging adoption of gas detection products and growing product & development strategies from major market players are driving the market growth. For instance, in 2021, Honeywell launched two new Bluetooth-connected gas detectors that can deliver continuous monitoring for dangerous gases even in fog, rain, snow, and other inclement weather conditions, helping facilities keep their oil and gas, petrochemical, chemical, and other workers and industrial sites safe.

Smart cities & building automation application to lead gas sensor market in 2022

Industrial automation to hold high opportunities for gas sensor market compared to other applications in 2022 and 2027. In smart cities, gas sensors can be used for various environmental monitoring applications for monitoring air quality, which includes weather stations and monitoring of the environment at public places. Major gases that are monitored include CO, CO2, SO2, NO, NO2, and VOCs. Earlier, gas detectors were used to detect a single gas; however, modern units detect several toxic or combustible gases or even a combination of both. The HVAC system is used for building applications to monitor and regulate environmental conditions in all types of buildings. Ventilation units are used to control the concentrations of gaseous compositions of indoor air, which is based on measurements carried out using gas sensors. The most common gas sensors used in HVAC systems are CO2, NOx, CO, O2, and VOC. The rising environmental pollution levels and increasingly degrading indoor air quality have created a significant demand for gas sensors for HVAC applications.

Market in Asia Pacific to hold significant opportunities for the market during forecast period

Asia Pacific is the leading market for gas sensors in the automotive, infrastructure, consumer electronics, and pharmaceutical industries, with the major demand from China, India, and Japan. The countries of Asia Pacific are witnessing increased demand for gas sensors, and this demand is expected to grow at a significant rate during the forecast period as well. Moreover, the rise in the number of smart city projects in countries such as India and China is also leading to increased demand for gas sensors from these countries. Gas sensors are used in several industries such as automotive, oil & gas, chemical, consumer electronics, etc. in the region. Among all these, the adoption of gas sensors is projected to be the highest in the consumer electronics industry. According to GSMA (Groupe Speciale Mobile Association) Intelligence, Asia Pacific has the largest number of smartphone users in the world, and advancements in gas sensing technology are expected to lead to the integration of gas sensors with smartphones, smart bands, and tablets. This, in turn, is expected to fuel the growth of the gas sensors market in the region.

Major vendors in the gas sensor market include Honeywell Analytics (UK), Amphenol (US), Figaro Engineering (Japan), Alphasense Ltd. (UK), Sensirion AG (Switzerland), Dynament Ltd. (UK), ams AG (Austria), MEMBRAPOR AG (Switzerland), and Senseair AB (Sweden), among others.

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