Gas Sensor Industry Overview
The global gas sensor market size was valued at USD 2.50 billion in 2021 and is expected to reach USD 5.34 billion by 2030, registering a CAGR of 8.9% over the forecast period. The major factor driving the market for gas sensors is the development of miniaturization and wireless capabilities, coupled with the improvement in the communication technologies that enable their integration into various devices and machines to detect toxic gases at a safe distance.
Gas sensors are used to constantly control and monitor gas emissions from various industrial processes, ranging from domestic and industrial. Additionally, the rising demand to control the harmful emissions from critical industries also bodes well for the growth of the market. Advances and innovations in technology are allowing gas sensor manufacturers to develop smart gas sensors. Various companies are also developing drone-based gas leak detection systems to provide better safety for the operators of pipelines across the globe.
For instance, in April 2021, ABB announced the launch of the HoverGuard, a drone-based gas leak detection system. HoverGuard detects, maps, and quantifies leaks up to 100 meters from natural gas distribution and storage facilities, transmission pipelines, gathering lines, and other potential sources safely, quickly, and reliably. Such technological developments bode well for the growth of the market.
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Stringent government regulations to reduce car emissions are expected to drive the demand during the forecast period. Rules and regulations are imposed by government bodies across the world on the emission of gas from cars. In April 2020, the Corporate Average Fuel Economy and greenhouse gas emission standards for passenger cars were emended by the National Highway Traffic Safety Administration and the EPA. Thus, the imposed limitation on gas emissions from vehicles creates demand for gas sensors, as it decreases atmospheric pollution and increases fuel efficiency.
Numerous industries such as chemical, oil & gas, and power utilize gas sensors to detect the presence of various combustible and toxic gases. A huge number of gases such as carbon monoxide, carbon dioxide, hydrocarbons, and ammonia are released into the air by these industries. An excess number of emissions of these gases can adversely affect human health.
Moreover, for power generation, methane is being used widely. Methane is a greenhouse gas that is highly inflammable and forms explosives mixes in the air if the methane leaks are not detected properly. Hence new sensor technologies are being developed, such as substance-specific electrochemical sensors and Non-dispersive Infrared (NDIR) sensors that are used to detect methane and other gases in industries.
The outbreak of COVID-19 is expected to create growth opportunities for the gas sensor industry. The COVID-19 pandemic has affected the additional requirement of oxygen for hospitalized patients. This has propelled various hospitals to efficiently manage oxygen use through oxygen sensors. Oxygen sensors are widely used in hospitals to detect oxygen leaks and assist in protecting patients.
Additionally, manufacturers have also developed sensors to meet the high demand from ventilator manufacturers. For instance, in March 2020, Sensirion developed a new flow sensor, SFM3019, for the market. This development was expected to meet the increasing demand from ventilator manufacturers.
Gas Sensor Market Segmentation
Based on the Product Insights, the market is segmented into Oxygen/Lambda, Carbon Dioxide, Carbon Monoxide, NOx, Methyl Mercaptan Sensor, Others (Hydrogen, Ammonia, Hydrogen Sulfide).
Based on the Type Insights, the market is segmented into Wireless, and Wired.
Based on the Technology Insights, the market is segmented into Electrochemical, Semiconductor, Solid State/MOS, Photo-ionization Detector (PID), Catalytic, Infrared (IR), and Others.
Based on the End-Use Insights, the market is segmented into Medical, Building Automation & Domestic Appliances, Environmental, Petrochemical, Automotive, Industrial, Agriculture, and Others.
Based on the Gas Sensor Regional Insights, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Market Share Insights:
Key Companies Profile:
The market is fragmented in nature. Market players are pursuing various strategies such as mergers & acquisitions, new product launches, and strategic partnerships, among others, for expanding their market presence. Some of the prominent players in the gas sensor market include:
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