Gas Sensors Market Forecasts to 2030 - Global Analysis By Product, Gas Type, Output Type, Technology, Connectivity, End User and By Geography

According to Stratistics MRC, the Global Gas Sensors Market is accounted for $2.99 billion in 2023 and is expected to reach $6.42 billion by 2030 growing at a CAGR of 11.5% during the forecast period. Gas sensors are tools that can identify the concentration and presence of a wide range of dangerous gases and vapours, including volatile organic compounds (VOCs), humidity, and odours. Gas sensors are used in industrial facilities and industries to find gas leaks and to detect smoke and carbon monoxide in residential buildings. They come in a broad range of sizes, sensitivities, and ranges. They frequently function as a component of a larger embedded system, such as security and hazmat systems, and are typically connected to an interface or audible alarm.

According to the Center for Disease Control and Prevention study, more than 50 people in Canada die every year from CO poisoning, as per the Ontario Association of Fire Chiefs. As a result, adopting carbon monoxide (CO) gas sensors is beneficial, as these appliances can unknowingly cause dangerous levels of CO gas to build up in the houses.

Market Dynamics:

Driver:

Increasing demand in key industries

Due to a rise in demand in key industries, the market for gas sensors is expanding. These important businesses produce a lot of gases that are emitted into the air, including carbon monoxide, carbon dioxide, ammonia, hydrogen sulphide, and hydrocarbons. The airborne emissions of these gases can have a negative impact on human health. The gases generated by the chemical industry are employed in a broad range of flammable and explosive conditions, at low flashpoints, with lower explosive limits (LEL). However, by consistently using gas monitors and detectors outfitted with gas sensors, the likelihood of mishaps brought on by these gases can be decreased.

Restraint:

Significant price pressure

Although the shipments of these sensors have risen due to their broad use in autos, HVAC systems, air quality monitoring systems, and consumer gadgets, price erosion has drastically slowed the rate of sales growth. The fierce rivalry among the growing number of sensor manufacturers contributes to some of this. Several businesses are focusing their research and development efforts on creating IoT-compatible sensors and cost-effective gas sensor systems using MEMS technology. This puts pressure on prices, particularly in situations where gas sensors are used often. As a result, producers are forced to lower the possible cost of gas sensors. Thus, intense pricing pressure results in a fall in the average selling price (ASP), which hampers revenue growth in the highly competitive gas sensor market.

Opportunity:

Increasing use of cloud computing, big data, and IoT in gas sensors

Variety of information-sensing devices are integrated with the internet, a network of sensors is created. The IoT generates a significant need for sophisticated connected devices that support M2M and device interoperability in accordance with linked environment requirements. The need for gas sensors with new and improved technologies has arisen as a result of increased demand for IoT, rising mobile device usage, and developments in cloud computing and big data analytics. A network of sensors capable of giving pollution data utilising gas sensors is also being developed by a number of start-ups. For instance, the Google Cloud platform is used by Aclima, a US-based firm that specialises in the design and implementation of environmental sensor networks, to analyse data to measure, map, and comprehend the air quality in different US cities. Every day, it gathers environmental information from 2 billion data points. Such applications provide the market a wide range of opportunities for the future growth.

Threat:

High energy consumption

The gas sensor industry is growing very quickly. However, various technological problems can impede the market's expansion. One or more of the main issues with gas sensors is their high energy consumption, sensitivity to environmental factors, high cost, and difficulty in manufacture. To avoid issues with accuracy and sensitivity, gas sensors need to be maintained properly and promptly. The intricacy of the production process contributes to the high cost of gas sensors. New gas sensor research and commercialization are extremely difficult and time-consuming processes, which raises the cost as well. As a result, there are many laws and performance standards that must be met during the lengthy development cycle of new and novel gas sensors. This can be difficult in this case thus impeding the market.

COVID-19 Impact:

COVID-19 epidemic had a considerable effect on gas sensors due to the government's stringent regulations, the pandemic's early phase had a negative impact; the flow of commodities was constrained, and several small- and medium-scale businesses founded for gas technology incurred significant losses that constrained the market. However, there remained a huge market for manufacturing critical care instruments including ventilators, oxygen concentrators, and numerous respiratory system-related devices in the medical and healthcare industries. Additionally, hospitals had a huge need for oxygen sensors in order to efficiently regulate oxygen consumption, which boosted the market during the pandemic.

The air quality monitors segment is expected to be the largest during the forecast period:

The air quality monitors segment is estimated to have a lucrative growth, due to both indoor and outdoor situations require air quality monitoring, which may be done by dispersing a number of gas sensor units across the necessary area to detect the amounts of several important gases as CO, hydrogen sulphide (H2S), and nitrogen dioxide (NO2). Gas sensors may be used in smart cities for a variety of environmental monitoring applications, including as weather stations and environmental monitoring in public spaces, to monitor the quality of the air. The HVAC system is utilised in buildings for a variety of purposes, including environmental monitoring and control.

The gas detectors segment is expected to have the highest CAGR during the forecast period:

The gas detectors segment is anticipated to witness the highest CAGR growth during the forecast period, due to enterprises producing potentially hazardous chemicals and gases during the manufacturing process, gas detectors are crucial instruments necessary for the overall safety of the premises. The automotive, metal & chemical, oil & gas, food & beverage, mining, medical, and power station sectors are the main application areas for these gas detectors. Additionally, the market is expanding as a result of increased product & development initiatives from key market competitors and the rapid acceptance of gas detection systems.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to result of its fast urbanisation and industrialisation, the environment now produces more hazardous gases as a result of the region's growing growth. The need for petrol sensors for air quality monitoring is rising as people in the Asia Pacific region, including China and India, become more conscious of how air pollutants affect human health. The region's ongoing urbanisation is another factor driving up demand for gas sensors. The governments of the Asia Pacific area are also making large investments in smart city initiatives, which will further expand the market for smart sensor technology. Such elements are positive for the expansion of the local market.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to increase result of strict regulations governing petrol emissions and the ensuing requirement for emissions monitoring. All automakers in Europe are required by safety regulations to offer gas sensor technology. The use of gas sensors in the automobile industry to reduce pollution is anticipated to grow over the next few years as regulations to control pollution levels become stricter. Additionally, a number of regional market participants are creating cutting-edge gas sensors, which eventually fuels the industry's expansion. For instance, the UK-based firm Gas Sensing Solutions developed a range of methane gas sensors in March 2022. The company specialises in LED-based NDIR infrared gas sensors.

Key players in the market

Some of the key players profiled in the Gas Sensors Market include ABB Ltd, AlphaSense Inc., Amphenol Advanced Sensors, AMS AG, City Technology Ltd, DENSO Europe B.V., Dynament Ltd., FLIR Systems, Inc, Figaro Engineering Inc., GfG Gas Detection UK Ltd, Honeywell Analytics, Membrapor AG, Nemoto & Co. Ltd, NGK Spark Plug, Robert Bosch GmbH, Sensirion AG, Senseair AB, Siemens AG, Trolex Ltd and Techcomp Group

Key Developments:

In June 2023, ABB strengthens smart home technology portfolio with acquisition of Eve Systems, Acquisition of Eve Systems meets accelerating demand for safe, smart and sustainable retrofitting of buildings driven by energy prices and climate policies

In May 2023, ABB collaborates with Lhyfe and Skyborn on one of Europe's largest renewable hydrogen projects, Powered by Skyborn's planned offshore wind farm, the plant in Soderhamn, Sweden, will produce around 240 tons of hydrogen per day, equivalent of around 1.8 million barrels of oil per annum

In October 2021, AlphaSense Acquires Stream by Mosaic, Delivering Market Intelligence From An Extensive Library of Investor-Led Expert Interviews, gaining new perspectives on companies across a breadth of industries

Products Covered:

• Air Purifiers/Air Cleaners
• Air Quality Monitors
• Consumer Devices
• HVAC (Heating, Ventilation, and Air Conditioning) Systems
• Gas Detectors
• Gas Analyzers & Monitors
• Medical Equipment
• Other Products

Gas Types Covered:

• Ammonia (NH3)
• Carbon Monoxide (CO)
• Carbon Dioxide (CO2)
• Chlorine (Cl)
• Hydrocarbon
• Hydrogen Sulfide (H2S)
• Nitrogen Oxide
• Methyl Mercaptan Sensor
• Methane (CH4)
• Volatile Organic Compounds (VOCs)
• Oxygen /Lambda Sensors
• Other Gas Types

Output Types Covered:

• Digital
• Analog

Technologies Covered:

• Catalytic
• Electrochemical Gas Sensors
• Flame Ionization Detection (FID)
• Holographic
• Infrared Gas Sensors
• Laser
• Metal Oxide-Based Gas Sensor
• Photo-Ionization Detector (PID)
• Solid-State/Metal-Oxide-Semiconductors (MOS)
• Surface Acoustic Wave Gas Sensors
• Thermal Conductivity Gas Sensors
• Zirconia
• Other Technologies

Connectivities Covered:

• Wireless
• Wired

End Users Covered:

• Automotive & Transportation
• Consumer Electronics Industry
• Environmental Monitoring
• Food & Beverage Industry
• Industrial Safety
• Mining Industry
• Medical Industry
• Metal & Chemical Industry
• Oil & Gas Industry
• Power Stations
• Smart Cities & Building Automation
• Water & Wastewater Treatment
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances