The global Gas Sensor Market size is anticipated to reach USD 4.10 billion by 2027, registering a CAGR of 8.3% from 2020 to 2027, according to a new report by Grand View Research, Inc. Factors such as increased demand for smart and wireless gas sensors and regulatory initiatives in developed markets of North America and Europe have propelled the adoption of gas sensors. The introduction of embedded electronics, coupled with sophisticated firmware and improved manufacturing techniques, has enabled developments in gas detection technologies.
A gas sensor is a device that detects the presence of gases in a particular area and is often integrated into a safety system. These sensors consume low power and can be integrated into portable handheld devices, which is expected to create opportunities for market growth.Technological developments, such as enhancement of Microelectromechanical Systems (MEMS) sensors, and need for hydrogen detection on account of its use as a fuel are also expected to contribute to the growth.
The increased adoption of gas sensors can be attributed to the high need for safety in the industrial sector such as oil and gas, power generation, and manufacturing.For instance, theOccupational Safety and Health Administration under the U.S. Department of Labor has implemented the Health and Safety at Work Act, which requires industrial facilities to install gas sensors for monitoring the emission levels and air quality among industries. In addition, implementation of advanced wireless sensor technologies with mesh network in industries is further creating opportunities for the market growth. The infrared technology segment is anticipated to witness substantial growth as it enables the measurement of a wide variety of gases including methane, carbon dioxide, and Volatile Organic Compounds (VOC) such as acetylene, benzene, and butane. This is anticipated to further fuel the market growth.
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Further key findings from the report suggest:
- The demand for gas sensors has increased over the years owing to their reliability in performance, real-time monitoring, and cost effectiveness
- The demand for oxygen sensors is expected to be supported by the improved precision, decreasing per unit cost of sensors, and growing applications across end-use industries
- The wired segment dominates the gas sensor market owing to the cost-effectiveness and accuracy. However, the demand for wireless segment is expected to witness significant over the forecast period, owing to the less complexity and easy accessibility
- The high demand for electrochemical sensor can be attributed to their use in applications such as indoor air quality detection, emission control, and landfill gas detection
- The U.S. government is investing considerable amount of monetary and non-monetary resources to encourage the adoption of gas sensors across various sectors and carry out initiatives such as smart cities
- Stringent safety regulations to protect workers from hazardous gases in industries are boosting the market growth
- Key market players include AlphaSense, City Technology Ltd.,Dynament Ltd., Figaro Engineering, Membrapor AG, Nemoto & Co., Ltd., Robert Bosch LLC., ABB Ltd., Siemens AG, and GfG Europe Ltd