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The gas sensors market size is estimated to grow by USD 1.19 billion at a CAGR of 13.86% between 2023 and 2028. The market is witnessing growth propelled by the expansion of LNG trade, a heightened emphasis on enhancing workplace safety, and the increasing use of gas sensors in the mining sector. These factors are driving a rising demand for advanced gas detection solutions, stimulating market expansion and innovation to meet evolving industry requirements. The expansion of the LNG trade signifies a shift towards cleaner energy sources, driving the need for enhanced safety measures. Additionally, the focus on workplace safety across industries underscores the importance of reliable gas detection systems. The mining sector's adoption of gas sensors is aimed at improving operational safety and efficiency. This collective growth is indicative of a broader trend towards heightened safety standards and technological advancements in gas detection technologies.
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The wired segment will account for a major share of the market's growth during the forecast period. The severe environmental conditions which are exploited by industrial sectors such as petroleum and natural gas, or metals containing dangerous explosives, there has been an increase in requirements for the use of gas detectors and safety equipment in this sector.
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The wired segment was valued at USD 615.80 million in 2018. A key element of industrial gas detection and fire suppression systems is a gas sensor. In case of a fire break, this equipment will be required to control the speed of the pump as it extracts water from an on-site source for use in the building. The rising incidents of explosions in industrial facilities have resulted in the framing of stringent guidelines by various governments and international safety agencies regarding the use of fire safety and explosion-proof equipment in industrial premises. Hence, such factors are fuelling the growth of this segment during the forecast period.
Based on type, the market has been segmented into wired and wireless. The wired segment will account for the largest share of this segment. A wired sensor consists of a monitoring panel that interfaces with and communicates to, equipped wall-mounted gas sensors, which are connected by wires. These sensors help to inform people about the presence of poisonous gases and prevent an industrial plant from being exposed to a risk of explosion due to such flammable gases. Hence, they ensure a safe working environment by monitoring the depletion of oxygen in an industrial facility. These detectors are permanently fixed in manufacturing plants, control rooms, or areas where high protection from hazardous gases is required. Such factors will increase segment growth during the forecast period.
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APAC is estimated to contribute 48% to the growth by 2028. Technavioâs analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. Due to the development of significant infrastructure, the market in APAC is anticipated to see the highest demand from nations like India, China, Malaysia, and the Philippines. These nations are supposed to observe expanded interest for sensors during the estimated time frame. The market in APAC is further driven by factors such as expanding urbanization and the introduction of affordable housing projects. In APAC, China is the largest construction market. China's rise to prominence as a global construction market is a result of the country's high economic growth rate, which is matched only by its world-leading population. The demand for high-rise condominiums and luxury apartments will rise in China as the middle-class population grows and disposable income rises. Such factors will increase the market growth in this region during the forecast period.
The market thrives on innovations like miniaturization and wireless capabilities, meeting the demands of various sectors such as automotive manufacturing, oil & gas, and healthcare. With government regulations tightening on greenhouse emissions and industrial processes, this play a pivotal role in ensuring compliance and mitigating pollution. They detect methane in the LPG and LNG industries, enhancing industrial safety and environmental monitoring. As leading players continually launch advanced products adhering to international standards, they remain indispensable for remote monitoring and control of gas concentrations, enabling smart cities and building automation. Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
The surge in LNG trade is propelling market expansion. LNG's rise as a transport fuel, coupled with the opening of new trade routes, fuels its demand. The global LNG market's growth is driven by the escalating focus on clean energy. Countries aim to boost natural resources in their energy mix, spurring LNG demand. LNG is prized for its safety and operational performance.
Moreover, these sensors are pivotal for overseeing LNG plant operations, ensuring safety and efficiency. Despite the US's dominance in natural production, LNG usage is surging globally. This trend, alongside LNG's expanding role, amplifies the need for sensors, driving market growth.
New product launches are a primary trend in the market. Infrared types may trigger a false alarm in extreme or unfavorable climatic conditions. Some of the essential problems faced by the offshore oil and gas industry when they deploy them to detect gas leakages are factors such as low reliability, insufficient detection speed, or an excessive frequency of erroneous alarms. Triggering false alarms in such industrial setups may also lead to the complete shutdown of production and isolation of electrical equipment, which can have a catastrophic effect on plant equipment, such as compressors and generators.
However, there is an ionization sensor or a solar panel, which senses and responds rapidly to fast-burn fires, in the majority of gas detectors & alarms. Gas detectors with ionization sensors respond rapidly to burning fires. Ionization sensors in gas detectors are responsible for creating false alarms in non-fire situations. Therefore, it is not allowed to use detectors containing ionizing sensors close to kitchens and bathrooms. Hence, this poses a major challenge for Companies as the use of gas detectors with ionization sensors will increase the number of complaints from consumers regarding false alarms, which is likely to have an adverse effect on the growth rate of the market in focus over the forecast period.
The issues related to sensitivity, selectivity, and stability are major challenges in the market growth. The components of the gas-sensing device are very sensitive, and their functioning may be affected in locations where temperature or pressure variations occur. The availability of a wide range of items in the market often leads to confusion among end-users on which one to choose. As these sensors are of various importance and can be used for a wide variety of applications in the facility, end user users find it difficult to determine which best-fit product fits their needs by taking into account the facilities' requirements.
The problem of delivering undesirable outcomes is also raised by sensors that are exposed to different gases. Gas sensor readings may be incorrect with respect to the concentration of gases for a chemical industry where numerous gases are manufactured by different processes. In contrast, readings may get distorted by the sun when UV gas detectors are placed in an enclosed space. Such problems in sensors under certain conditions may lead to false alerts to workers. Such factors may negatively impact the market in focus during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ABB Ltd. - The company offers gas sensors such as FusionAir Smart Sensors.
AMETEK Inc. - The company offers gas sensors such as the A series and A plus series.
We also have detailed analyses of the marketâs competitive landscape and offer information on 20 market Companies, including:
Technavio's market growth and forecasting report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies Companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is witnessing rapid evolution driven by technological advancements and increasing demand across various sectors. Factors such as miniaturization and wireless capabilities are revolutionizing gas sensor design, Domestic appliances enabling their integration into a wide range of applications. From industrial processes and automotive manufacturing to environmental monitoring and healthcare, gas sensors play a crucial role in ensuring safety and compliance with government regulations regarding toxic gases and harmful emissions. Leading players in the gas sensor market are developing innovative solutions that leverage communication technologies and IoT networks for remote monitoring and control of concentrations. Moreover, advancements in analyzers and replacement sensors are enhancing air quality monitoring and industrial safety. As smart cities and building automation initiatives gain traction, it is becoming integral to managing indoor air quality levels and reducing exposure to pollutants like carbon dioxide and volatile organic compounds.
In the automotive manufacturing industry, they are crucial for ensuring compliance with Corporate Average Fuel Economy standards and greenhouse gas emission regulations. They monitor combustible gases like methane and propane to prevent accidents and minimize environmental impact. Similarly, in the oil & gas and power industries, these play a vital role in detecting leaks and preventing disasters, ensuring public safety and minimizing excess emissions. By adhering to international standards and leveraging IoT technologies, wired and wireless sensors provide real-time data for proactive decision-making, safeguarding both human health and environmental quality in various industrial settings.
Market Scope |
|
Report Coverage |
Details |
Page number |
178 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.86% |
Market growth 2024-2028 |
USD 1.19 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
10.87 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 48% |
Key countries |
US, China, South Korea, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., AMETEK Inc., Amphenol Corp., ams OSRAM AG, Angst Pfister Sensors and Power AG, DENSO Corp., Dragerwerk AG and Co. KGaA, eLichens, Figaro Engineering Inc., GASTEC CORP., Honeywell International Inc., Industrial Scientific Corp., MEMBRAPOR AG, Nemoto and Co. Ltd., Niterra India PVT. LTD., Robert Bosch GmbH, Senseair AB, Sensirion AG, Siemens Energy AG, and Techcomp Instruments Ltd. |
Market dynamics |
Parent market analysis, market growth analysis, market research and growth, market forecasting, market report, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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