Gas Sensors Market Worth $246 Billion By 2025
In 2012, the Global Gas
Sensors Market was valued around USD 1.70 billion and is anticipated to
reach approximately USD 3.40 billion while maintaining a compound annual growth
rate (CAGR) of 6.45% during the forecast period. Technology advancements,
largely owing to improved embedded electronics and manufacturing processes are
anticipated to fuel the growth of the global gas sensors market. For instance,
in the automobile sector, harmful emissions have contributed to the composing
of regulations for emission control and produced the requirement to monitoring
its concentration. NOx and CO sensors are installed with this intention, hence
bestowing towards the growth of global market revenue. Oxygen sensors are
installed in vehicles for monitoring cabin air quality. Different types of
toxic and combustible substances used in manufacturing processes like NO2
(Nitrogen Dioxide), H2S (Hydrogen Sulfide), etc. present an elevated risk for
people in the surrounding area. Hence, it is essential to constantly supervise
their concentration in industrial surroundings to prevent any mishaps. Demand
for these sensors so as to ensure occupational safety and health is on the
augment over several industry segments like manufacturing and process
industries. Rising adoption of smart and wireless sensing technologies is
anticipated to drive the growth of the global gas sensors market during the
forecast years.
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Devices based on PID technology are primarily used in
detecting hydrogen sulfide, ammonia, Volatile Organic Compounds (VOCs), etc.
Consequently, they are perfect for applications like control and monitoring of
leak detection and decontamination in confined spaces and closed rooms.
Catalytic sensors are comparatively easy to calibrate and install elastic in
nature and can be employed for supervising emissions over various applications.
Products derived from this technology can be used over an extensive range of
temperature. Solid state products are tough in nature; thus, they can be
employed in corrosive surroundings. They can also function at elevated
temperatures and are susceptible to alterations in concentration, which assist
to monitor toxic emissions and explosions. Products based on thermal
conductivity utilize filaments in an attempt to detect any changes happening in
the target substance’s thermal conductivity.
In 2013, Asia Pacific regional gas
sensors market was the top regional segment and reported for around 25% of
global market revenue, largely owing to technological innovations in this
region. Increasing demand for incorporated products utilized in hand-held
equipment has also stimulated the market growth activities. Moreover,
encouraging government regulations like the Wealth and Welfare, Industrial
Safety Act are anticipated to drive regional market demand. Energy conservation
initiatives and emission control standards are expected to support the market
demand for the European automotive sector. Increasing uses of these devices and
rising demand from end-user industries are also estimated to be the key growth
drivers for this market.
Major
Market Players:
Ø
City Technology Ltd.
Ø
Alphasense
Ø
Membrapor AG
Ø
Dynament Ltd.
Ø Figaro
Engineering
The global gas sensors
market is segmented as follows:
By Product
- Carbon Dioxide Sensors
- Carbon Monoxide Sensors
- NOx Sensors
- Oxygen/Lambda Sensors
- Other Products
By Technology
- Solid State/MOS
- PID
- Catalytic
- Infrared (IR)
- Electrochemical
- Semiconductor
- Other Technologies
By End User
- Environmental
- Petrochemical
- Automotive
- Industrial
- Medical
- Building Automation &
Domestic Appliances
- Other End User
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