Gas Sensor Market

Gas Sensor Market Outlook - 2027

The global gas sensor market size was valued at $823.1 million in 2019, and is projected to reach $1,336.2 million by 2027, growing at a CAGR of 6.4% from 2020 to 2027.

A gas sensor is a device that detects the presence or concentration of gases in the atmosphere or environment. Based on the concentration of gases in the environment, the gas sensor displays a change in resistance of the material used in the sensor, which in turn is used to measure output voltage. Based on this change in voltage value, the type and concentration of gas is detected. Gas sensors can detect volatile compounds such as gases and air quality. These sensors detect and measure the concentration of gas and can change the concentration of an analyte gas into an electronic or electrical signal. These sensors are used in various industries ranging from medicine, defense & military, energy, and aerospace.

The need to constantly monitor and control gas emissions by various industrial processes, creates a requirement for gas sensors. The various uses of gas sensors vary across a wide range from industrial to domestic end uses. For instance, monitoring air pollution, chemical processes, and exhaust from combustion engines are the various applications for gas sensor installation. In recent years, several types of gases have been used in different industries as raw materials. It becomes important to control and monitor these gases, as there is a huge risk of damage to property and human lives. Certain gases are corrosive, explosive, or can be toxic for human beings. The mentioned factors assist in the market expansion of gas sensors by creating its demand under various industry verticals such as automotive, industrial among others globally.

According to researchers at Penn State and Northeastern University, wearable gas sensors for environmental and human health monitoring are expected to be commercially available in the near future. These sensors are expected to be highly sensitive in nature due to their self-heating mechanism. The researchers are using highly porous single line of nanomaterial for the sensors that detect gas and biomolecules and are also expected to detect different chemicals.

Top Impacting Factors

The significant factors impacting the growth of the global gas sensor market include increasing use of gas sensors in the defense & military industry, emerging demand for gas sensors in consumer electronics, and favorable government regulations regarding the use of gas sensors. However, high initial cost of the sensors acts as the major barrier for its adoption, thereby hampering the growth of the market. On the contrary, growing trends toward internet of things (IoT) and rising demand for sensors in the development of smart cities are anticipated to provide lucrative opportunities for the gas sensor market during the forecast period. 

Some major factors impacting the gas sensor market growth are given below:

Emergence for gas sensors in HVAC system

HVAC system provides fresh and pure indoor air by removing pollutants from the environment through proper ventilation and pressurization. These systems are finding their applications in the oil & gas industry, petroleum, refineries, among others. Such industries involve processes that carry combustible or toxic materials. Therefore, to detect and analyze the level of toxic substances present in the environment, gas sensors are increasingly being used in HVAC systems in all major industries that include presence of combustible gases and toxic elements. 

Gas detection in the HVAC system is one of the crucial elements. It reduces the risk of releasing toxic and combustible gases through early detection and initiating a timely corrective action. Usage of gas sensors in HVAC system monitors toxic and combustible gases and alert the personnel before it reaches a dangerous level. For instance, gas sensors are being increasingly used in HVAC systems due to rise in compliances with government regulations, and increase in concerns toward occupation health & safety, which drive the market growth of gas sensors globally.

Growing trends toward internet of things (IoT)

In the current IT-dominant world, people are moving toward automation-based solution and services. This has led to increased focus on IoT-based devices due to their innovative and advanced applications. IoT is a technology for providing internet or internetworking for almost all applications such as smartphones, microwaves, refrigerators, defense &military, healthcare, and buildings. IoT uses electronic software, sensors, and actuators for connecting all these things to a common network. IoT incorporates several sensors such as touch sensor, proximity sensor, gas sensor, and temperature sensor. 

High initial cost of the device

The addition of sensors does help to increase automation in electronic devices; however, it incurs an extra cost and thereafter is avoided in cost-effective end uses. The incorporation of sensors facilitates extra features and makes the devices more automated, although, it incurs some additional cost and thereafter it is avoided in cost-effective application. In devices that are continuously used for a long time, such as smart phones, laptops, and cameras, sensors create heating issues and reduce their overall life as these devices have components, which are temperature sensitive. The devices which use battery as their power source, sensors reduce their battery life as they rely on device battery for their operation. 

Competition Analysis

The key gas sensor market leaders profiled in the report include Honeywell Analytics, Sensirion, GASTEC Corporation, Nemoto Gas Sensors, Figaro Engineering Inc, MSA, Alphasense, Membrapor, Amphenol, and Dynament. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their market penetration.

Key Benefits For Stakeholders

• This study comprises analytical depiction of the global gas sensor market share along with the current trends and future estimations to depict the imminent investment pockets.

• The overall gas sensor market analysis is determined to understand the profitable trends to gain a stronger foothold.

• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.

• The current gas sensor market forecast is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.

• Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the market 

 Gas Sensor Market Report Highlights