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Market
Overview:
The Gas Sensor Market size is estimated to reach $1.66
billion by 2030, growing at a CAGR of 8.5% during the forecast period
2024-2030, according to a recent report published by IndustryARC, titled, “Gas
Sensor Market Size, Share & Trends Analysis Report- By Sensor Type (Combustible
Gas Sensors, Infrared Point Sensors, Ultrasonic Sensors, Electrochemical Gas
Sensors, Metal-oxide-semiconductor Sensors (MOS sensors) and Others), By Structure
(Fixed and Portable Gas Sensor), By Technology (Wire and Wireless Gas Sensor), By
End User (Oil & Gas, Industrial, Automotive, Mining and Metal, Residential,
Healthcare, Water treatment, Food & Beverages, and Others), By Geography -
Global Opportunity Analysis & Industry Forecast, 2024-2030”
Industrialization and urbanization, governmental
regulations, and environmental concerns are fueling the growth of the Gas
Sensor industry during the forecast period.
North America
Dominated the Market in 2023:
North America emerged as the largest market for gas sensors in 2023,
accounting for a significant share of 47%. This dominance is attributed to the
region's robust industrial base, stringent environmental regulations, and a
focus on technological advancements. The presence of numerous oil and gas
industries, power plants, and healthcare facilities contributes to the
increasing demand for gas sensors. Additionally, high levels of air pollution
in urban areas further drive the necessity for effective monitoring solutions.
As a result, North America's market growth is propelled by the urgent need for
safety and compliance in various sectors reliant on gas detection technologies.
Gas Sensor Market: Key Takeaways
Industrialization and
Urbanization is Driving the Market Growth:
Fast-growing economies in the Asia-Pacific and North
America are significantly driving the Gas Sensor Market. Urbanization and
industrialization have led to increased demand for gas sensors across various
sectors, including oil and gas, healthcare, and power plants. This surge has
spurred advancements in manufacturing, transitioning from fixed to portable
systems. Notably, the rise of wireless gas sensors has notably enhanced market
growth. The adoption of these sensors is crucial for ensuring safety and
security in workplaces across these industries, further contributing to the
robust expansion of the gas sensor market.
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Market Growth Driven
by Governmental Regulations and Environmental Concerns:
The rise in governmental regulations aimed at maintaining
pollution-free cities has significantly increased the global demand for gas
sensors. These sensors are essential for detecting hazardous gases and
measuring concentrations of substances like CO, CO2, NOx, and SO2 in
workplaces, industries, and public areas. This growing need is driving the gas
sensor market worldwide. Additionally, heightened environmental concerns about
reducing harmful emissions, particularly in industrial regions, are crucial for
protecting nearby ecosystems. Consequently, gas sensors are frequently
installed in these areas as part of health and safety systems, further fueling
the global growth of the gas sensor market.
Scope of the Report:
Recent
Developments:
·
In June 2023, Alphasense, the UK-based manufacturer of sensors for
air quality monitoring and safety gas detection, launched a compact new sensor
format for portable devices.
·
In Oct 2023 Sensata Launches First A2L Leak Detection Sensor
Certified for Multiple HVAC Refrigerants. The new leak detection sensors
support HVAC manufacturers’ transition to refrigerants with a lower global
warming impact.
Gas Sensor Market:
Competitive Landscape
Key companies
profiled in the Gas Sensor Market are Dragerwerk AG & Co. KGAA, AMETEK,
Honeywell International Inc., ABB Ltd., General Electric Co., Emerson Electric
Co., Figaro Engineering Inc., Ametek Inc., Siemens AG, Trolex Ltd., Enerac Inc.
and California Analytical Instruments Inc., and others.