COVID-19 Impact analysis

• Gas sensors structure a significant piece of the oil and gas industry. These sensors are utilized to recognize harmful/burnable gases in the exploration, enhanced oil recovery (EOR), well boring, well completion, pigging, deep oil drilling, and refining. recently, oil costs have changed to an extraordinary failure, which has brought about numerous exploration and productions (E&P) and refining organizations to cut capital use and furthermore reduce the production. Due to the COVID pandemic, various organizations have delayed or dropped their request for gas sensors, thus resulting in a decrease in the demand for gas sensor.
• Since the oil and gas industry has witnessed a slowdown due to COVID-19, being the major application of gas sensors in this industry is expected to hamper the portable gas detector market.
• During the pandemic, the medical industry, metal & chemical industry, mining industry, consumer electronics industry, and others were temporarily on halt, which has resulted in less consumption of gas sensors in these industries, which in turn has an adverse impact on the portable gas detector market.

Top Impacting Factors

Critical industries including oil & gas, chemical, mining, and power use gas sensors to detect and monitor the presence of combustible and toxic gases. Gases such as carbon monoxide, carbon dioxide, ammonia, hydrogen sulfide, and hydrocarbons are released into the atmosphere by these industries. Emissions of these gases in the air can have an adverse effect on human health. Moreover, some explosive gases such as methane, propane, and butane might be released by these industries, which can lead to fire accidents. Regulatory bodies are implementing various regulations to safeguard the ecosystem from these gases. This acts as the driving factor for the market by increasing the demand for gas sensors. The high cost and maintenance of gas sensors are some of the restraining factors restricting market growth. Opportunity lies in the emerging demand for gas sensors from the consumer electronic sectors due to the increased number of gas sensors in smartphones and other devices for keeping a track of environmental or atmospheric air quality, the demand for gas sensors is likely to increase in this sector.

Market Trends

• In August 2020, Sensirion AG developed the new SGP40 VOC sensor for indoor air quality applications, for example, robotized air quality control frameworks (air purifiers, kitchen hoods, request controlled ventilation frameworks, and others) and air quality observing. 
• In May 2019, MSA Safety Inc. acquired the Sierra Monitor Corporation, the main supplier of fixed gas and fire recognition (FGFD) instruments and Industrial Internet of Things (I-IoT) arrangements.
• In January 2019, Amphenol acquired SSI Controls Technologies—the sensor producing division of SSI Technologies, Inc. SSI Control Technologies is a leading designer and producer of sensors and detecting solutions for the automotive business sectors. This acquisition will increase the Amphenol’s product portfolio in the sensor business.