Gas Sensor Market Revenue Growth, Qualitative Analysis, Quantitative Analysis Till 2027

Description

The global market size of the gas sensors was valued at USD 823.1 million in 2020 and is projected to reach USD 1,336.2 million by 2027, registering a CAGR of 6.4% from 2021 to 2027. A gas sensor is a device that identifies the concentration of gases or the presence of gas in the environment or atmosphere. The gas sensor's concentration of gases in the atmosphere displays a modification in the resistance of the material used in the sensor, which is used to measure the voltage. Based on the change in the voltage value, the concentration and type of gas are detected. Gas sensors detect volatile compounds such as air quality and gases. These sensors measure and detect the concentration of gas and can change the concentration of analyte gas into an electrical signal or electronic. These sensors are used in several industries ranging from aerospace, medicine, energy, and defense & military.

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Gas sensors are smart electronic devices used to detect and identify various types of combustible and non-combustible gases in an indoor or outdoor environment. The sensors are interfaced with a control system, so it can detect leakage and provide the initiating signal to shut down or raise the alarm. Gas sensors are majorly used to detect gases such as carbon monoxide, methane, hydrogen, ammonia, oxygen, and others in applications such as infrared sensors, photoionization sensors, and electrochemical sensors. These gas sensors are deployed in various end uses such as defense and military, industrial automotive, among others.

Methane sensors are among the most widely used gas sensors. These sensors are deployed to detect methane gas and are commonly used in various industries for their operational advantages in multiple applications. Gas sensors for methane can detect its concentration from 300 parts per million (ppm) to 10,000 parts per million (ppm). This range is suitable for detecting gas leaks for methane. These sensors are susceptible and provide comprehensive range detection along with a quick and real-time response. Methane gas sensors are used in domestic gas leakage detectors, industrial combustible gas detectors, portable gas detectors, and gas leak alarms.

Global Gas Sensor Market Dynamics
Drivers: Increasing need for air quality monitoring in smart cities
Air pollution is a major problem worldwide. According to the World Health Organization, urban areas have recorded around 80% of air pollution levels that are beyond the acceptable values. Hence, there is a rising concern for controlling air pollution levels worldwide. Gas sensors are used in smart cities to monitor the air quality in urban areas as well as residential spaces. IoT-enabled gas sensors are used to monitor the pollution levels especially for smart infrastructures. These smart devices detect pollution levels and send data to the IoT cloud.

Air quality monitoring is finding its applications in areas such as parks, markets, public venues, and other major city venues. The increasing need to monitor and control air quality and pollution levels in smart cities and smart infrastructures is driving the market growth of gas sensors to a certain extent.

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Restraints: High initial price of the device
The addition of sensors helps to increase the automation in the electronic devices. However, it incurs an extra cost and afterward is avoided in cost-effective end uses. The incorporation of sensors facilitates some extra features and makes the devices more automated, although, some additional cost and afterward it is avoided in the cost-effective application. These devices are continuously used for a long time, such as laptops, cameras, and smartphones sensors, creating heating issues and decreasing the sensors' life as these devices have components that are temperature sensitive. The devices which use the battery as the power source, sensors reduce their battery life as they rely on the device battery for their operation.

Opportunities: Growing trends toward the Internet of Things (IoT)
In the current IT-dominant world, the public is moving toward automation-based services and solutions. This led to an increased focus on IoT-based devices due to their advanced applications and innovations. IoT is a technology for providing the 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.

IoT-based gas sensors help in machine-to-machine (M2M) communication and person-to-computer communication. For instance, IoT gas sensors are used to determine indoor and outdoor air quality. These sensors provide highly accurate measurements of various gases such as nitrogen, methane, carbon monoxide, and others. These air quality measurement gas sensors are used for home purposes, office safety, city infrastructure, and other applications. In addition, IoT-enabled gas sensors are being increasingly used as breath analyzers for health detection. These sensors are being used in portable handheld devices and communicate the input received from the source in real-time to the concerned mode. Furthermore, IoT-enabled gas sensors are finding their applications in smart wearable devices and other safety uses, which provides lucrative opportunities for market growth globally.

Scope of the Report
The study categorizes the gas sensor market based on gas type, technology, end-user, and regions.

By Gas Type Outlook (Sales, USD Million, 2017-2027)
Carbon Monoxide
Methane
Hydrogen
Ammonia
Oxygen
Others
By Technology Outlook (Sales, USD Million, 2017-2027)
Infrared Gas Sensor
Photo Ionization Sensor
Electrochemical Gas Sensor
Thermal Conductivity Gas Sensors
Catalytic Gas Sensors
Others
By End-User Outlook (Sales, USD Million, 2017-2027)
Defense & Military
Healthcare
Consumer Electronics
Defense & Military
Automotive & Transportation
Industrial
Others
By Region Outlook (Sales, USD Million, 2017-2027)
North America (US, Canada, Mexico)
South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
By gas type, methane is accounted for the largest market revenue share
By gas type, the global gas sensor market is analyzed across carbon monoxide, methane, hydrogen, ammonia, oxygen, and others. The methane segment was accounted for the highest contributor to the market in 2020; the methane segment has a market share of 18.2%. Gas sensors used to detect methane gas are widely used in various industries due to their advantages, such as a wide range of operations and high efficiency in the changing environment. Gas sensors for methane can detect its concentration from 300 parts per million (ppm) to 10,000 parts per million (ppm). This range is suitable for detecting gas leaks for methane. These sensors are highly sensitive and provide comprehensive range detection along with quick and real time response. Methane gas sensors are used in domestic gas leakage detectors, industrial combustible gas detectors, portable gas detectors, and gas leak alarms.

Asia Pacific accounts for the highest CAGR during the forecast period

Based on region, the global market of the gas sensors is analyzed across North America, Europe, Asia Pacific, and the Middle East & Africa, along with its major countries. Asia Pacific is estimated to hold the highest CAGR of 7.7% during the forecast period. The Asia-Pacific region includes China, Japan, India, South Korea, and the Rest of Asia-Pacific. Japan and China are technologically advanced countries, which exhibit high demand for smart gas sensors. Emerging countries, such as India, are expected to drive market growth. However, the other underdeveloped countries are expected to hamper the growth of the Asia-Pacific region.

After Asia Pacific, Europe is the fastest-growing region during the forecast period. Technological advancements among various industry sectors and increased purchasing power of the residents contribute to the growth of the gas sensors market in Europe. Moreover, the rapid increase in sales of high-end sensor and other high-end devices in 2018 promoted the development of the gas sensors market in Europe, which drives its growth in the region.

Key Market Players
The key gas sensor market leaders include Honeywell Analytics, Sensirion, GASTEC Corporation, Nemoto Gas Sensors, Figaro Engineering Inc, MSA, Alphasense, Membrapor, Amphenol, and Dynament. Strategies, such as mergers & acquisitions, product portfolio expansion, agreements, geographical expansion, and collaborations, are adopted by these players to enhance their market penetration.

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Recent Developments
In April 2019, Alphasense entered into a partnership with MIT to provide an opportunity to handle the air quality of a volcano through the eruptive phase.
In December 2019, Figaro Engineering launched a new A2L refrigerant gas sensor module, FCM2630-E00, a cost-effective and straightforward model with analog outputs. This product has advanced functionality with monitor signals and malfunction signals in the digital output format.
In December 2019, Honeywell acquired Rebellion Photonics, an innovative, intelligent, visual gas monitoring solution company, which maximizes the operational performance, safety, emission mitigation in oil and gas industries.
In January 2020, MSA launched General Monitors FL500-H2Flame Detector for the protection of oil and gas fuel stations, refineries, chemical plants, and other sites managing large volumes of the gas.
Key Issues Addressed
What is the market size by various segmentation of the gas sensor by region and its respective countries?
What are the customer buying behavior, key takeaways, and Porter's five forces of the gas sensor market?
What are the key opportunities and trends for manufacturers involved in the gas sensor supply chain?
What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?

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What and how regulations, schemes, patents, and policies are impacting the growth of the market?
What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
The market player positioning, top winning strategies by years, company product developments, and launches will be?
How has COVID-19 impacted the demand and sales of gas sensor in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.
What is the size of the global gas sensor market?
The global market size of the gas sensor was valued at USD 823.1 million in 2020 and estimated to be USD 1,336.2 million by 2027.
What is the gas sensor market growth?
The global market size of gas sensors registering a CAGR of 6.4% from 2021 to 2027.
Which technology type held the largest share in the gas sensor market?
Electrochemical gas sensor, by technology segment, has generated the highest revenue share of 32.7%, in 2020.
Which region accounted for the largest gas sensor market share?
The Asia Pacific dominated the gas sensor market and accounted for the largest revenue share of over 46.43% in 2020. The region is projected to observe the fastest growth in terms of revenue during the forecast period.
Who are the key players in the gas sensor market?
Leading players in the market of gas sensors are Honeywell Analytics, Sensirion, GASTEC Corporation, Nemoto Gas Sensors, Figaro Engineering Inc, MSA, Alphasense, Membrapor, Amphenol, and Dynament.

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