Gas Sensors Market Size was valued at USD 1.9 Billion in 2014 and is forecast to reach USD 2.89
Billion by 2022, as per a new research report by Global Market Insights, Inc.
Proliferating demand for smart sensors along with increasing need in end-use
industries such as automotive is anticipated to fuel demand over the forecast
period.
CO2 gas sensors market size accounted for over
25% of the overall share in 2014, and is expected to grow faster than the
global average over the forecast period. This can be mainly attributed to
rising need from the bulk food storage sector. NOx sensor industry is expected
to be valued at over USD 250 Million by 2022.
Wireless sensors aid in detecting gas concentration and also
broadcast a proportional signal. As these devices could be employed in hard-to-reach
as well as remote areas, the demand for these systems is likely to remain
consistent over the forthcoming years. Several other benefits include cost
effectiveness coupled with easy installation. In addition, they have the
facility to generate a network of sensors and could be incorporated into
convenient electronic devices, namely tablets and smartphones. It enhances the
overall performance in harsh peripheral environment.
Key report insights suggest:
- Global demand in industrial sector contributed to over 19% of the
overall revenue generation in 2014. Government regulations pertaining to
ensure healthy and safety environment of employees is likely to fuel the
demand growth over the forecast period. Need to monitor cabin air quality
as well as the presence of vehicle emission control regulations are
expected to be favorable for automotive gas sensors market size.
- Electrochemical gas sensors market was valued at USD 350 Million in
2014; these products are mainly deployed to detect numerous gases and are
also cost effective. Infrared technology supports measurement of volatile
organic compounds (VOC) such as acetylene, benzene, butane, etc. along
with other gases; however, it is not as cost-effective as its
counterparts.
- Chief manufacturers include Alphasense, Membrapor, Dynament, Figaro
Engineering, and City Technology among others. In addition to new product
development, companies operating in the industry have adopted long-term
agreements, as well as mergers and acquisitions as key growth strategies.
For this report, Global Market Insights
has segmented the gas sensors market on the basis of technology, product,
end-use and region:
Gas Sensors Technology Analysis
(Revenue, USD Million, 2012 – 2022)
- Electrochemical
- Semiconductor
- PID
- Catalytic
- Infrared
Gas Sensors Product Analysis
(Revenue, USD Million, 2012 – 2022)
- Oxygen
- Carbon Dioxide
- Carbon Monoxide
- NOx
Gas Sensors End-Use Analysis
(Revenue, USD Million, 2012 – 2022)
- Medical
- Building Automation & Domestic Appliances
- Environmental
- Petrochemical
- Automotive
- Industrial
Gas Sensors Regional Analysis
(Revenue, USD Million, 2012 – 2022)
- MEA
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