Gas Sensor Market Analysis Report (2019 - 2024)

Gas sensors play an essential role in many applications and have been extensively developed during the past few decades. They help detect the presence of various toxic and combustible gases such as Oxygen, Carbon Monoxide and Nitrogen oxides in the environment. There are multiple uses of these gas sensors, and they play a vital role in various sectors, including environmental applications, medical and domestic applications for monitoring toxic and flammable gases. The most common use for the gas sensor is tracking the toxic gases present in the atmosphere.

Global Gas Sensors Market is expected to reach 3.05 billion USD by 2024, which is a significant increase from 2.12 billion USD in 2019 and is expected to progress at a CAGR of 7.5% during the forecast period.

Recent Trends:

Tin oxide SnO2-based gas sensors have been extensively used for detecting typical fault characteristic gases extracted from power transformer oil, namely, H2, CO, CO2, CH4, C2H2, C2H4, and C2H6, due to the exceptional advantages of high sensitivity, fast response and long-term stability. The analysis shows that the detection performances of SnO2-based gas sensors can be easily enhanced by increasing the surface area of the sensing materials.

Recently, 2D materials have also demonstrated significant potential for the identification of disease?related biomarkers based on semiconductor gas sensors.

Market Drivers and Restraints:

Gas sensors help in monitoring the concentration of hazardous gases such as Hydrogen Sulfide and Nitrogen Dioxide, which is essential in identifying and avoiding gas leaks. Moreover, the increasing application of wireless sensing devices to recognise toxic gases from a safe distance is likely to augment the need for these sensors over the foreseen years. Recent trends in the industry like miniaturized systems, printed sensor manufacturing and flexible electronics for consumer markets heighten the gas sensor business.

One of the major restraints in this industry is that the maintenance and production costs are very high. Also, the highly competitive scenario of this market makes it difficult for new players to enter and combat the revenue share.

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Report Segmented as:

By Gas Type

• Carbon Dioxide
• Carbon Monoxide
• Oxygen
• Nitrogen Oxides

By Applications

• Industrial
• Building Automation
• Domestic Appliances

By Technology

• Infrared
• Semiconductor

Geographical Segmentation:

Europe held the largest portion of the global market in 2018 due to increased IT investments and improvements in sensor technologies in the area. The Asia-Pacific is also one of the fastest-growing regions for the gas sensors market and is projected to lead the market from the front during the forecasted period

Key market players

1. Honeywell
2. Digital Control Systems
3. Johnson Controls
4. Alpha Sense
5. Figaro Engineering
6. Nemoto & Co.
7. Siemens AG

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Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level.

Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

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