Gas Sensors Market worth $2.3 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, Dec. 13, 2023 /PRNewswire/ -- The Gas Sensors Market is projected to grow from USD 1.5 billion in 2023  and is estimated to reach USD 2.3 billion by 2028; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.7% from 2023 to 2028 according to a new report by MarketsandMarkets™. The application of gas sensors in smart cities and building automation has witnessed significant growth in recent years. Rapid urbanization and industrialization, have led to a rise in air pollution levels across the world. With urbanization, there has been a rise in the number of vehicles used, an increase in industrial activities, and a rise in energy consumption leading to urban air pollution. The advent of the Internet of Things (IoT) has facilitated air quality monitoring and management in smart cities, with several players launching IoT-based gas sensors.

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Gas Sensors Market Report Scope:

Wireless gas sensor segment is expected to witness the highest CAGR during the forecast period.

Wireless or portable gas detectors are generally used by individuals or by a group of workers to monitor air quality. These are ideally handheld devices and are used for indoor usage. Portable gas monitors and detectors provide a relatively affordable option to end-users compared with fixed monitors and offer ease in locating the exact source of pollution. Wireless gas sensors industry are also used in gas monitoring applications to detect the presence of toxic gases for the enhanced safety of personnel. In certain applications, monitoring toxic gases is difficult and dangerous, wherein wireless gas sensors can be used. Wireless gas sensors can thus be used to continuously monitor remote applications such as in automotive & transportation reliably and cost-effectively.

Market for digital output segment is expected to witness the highest CAGR during the forecast period.

Digital gas sensors send and receive strings of characters that a microprocessor or a computer can read. A digital gas sensor normally comprises a gas sensor, a two-wired digital interface, registers for controlling the operation of the IC, and an analog-to-digital converter (ADC). Gas sensors with digital output have several advantages, especially being well-suited for remote applications such as automotive and transportation applications. Moreover, these sensors offer both design and operational advantages over gas sensors with an analog output. They offer enhanced technical performance, improved safety margins, and low maintenance costs.

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Volatile organic compounds in the type segment is expected to be the fastest growing market of the gas sensor market during the forecast period.

The VOC segment in the gas sensor market is expected to grow with the highest CAGR during the forecast period. Volatile organic compounds (VOCs) are a wide range of carbon-based (organic) chemicals (compounds) found in various human-made and naturally occurring solids and liquids. They evaporate easily at ordinary room temperature. Substances containing VOCs include solvents, paint thinners, and nail polish removers, as well as vapors associated with fuels such as gasoline, diesel, heating oil, kerosene, and jet fuel; hence, there is an increasing demand for these in the paint and plastic industry.

Asia Pacific is expected to have the largest share of the gas sensor market during the forecast period.

Asia Pacific region is expected to have the largest market share of the gas sensor market during the forecast period. Asia Pacific is the leading market for gas sensors in the automotive, infrastructure, consumer electronics, and pharmaceutical industries, with major demand from China, India, South Korea, and Japan. The countries of Asia Pacific are witnessing increased demand for gas sensors, and this demand is expected to grow at a significant rate during the forecast period as well. Moreover, the rise in the number of smart city projects in countries such as India and China also leads to increased demand for gas sensors from these countries. Gas sensors are used in several industries such as automotive, oil & gas, chemical, consumer electronics, etc., driving the market demand in the region.

Key Players

Leading players in the gas sensor companies include Honeywell International Inc. (US), MSA Safety Incorporated (US), Amphenol Corporation (US), Figaro Engineering Inc. (Japan), Alphasense (UK), Sensirion AG (Switzerland), Process Sensing Technologies (UK), ams-OSRAM AG (Austria), MEMBRAPOR (Switzerland), Senseair AB (US) and Niterra Co., Ltd. (Japan), Nissha Co., Ltd. (Japan), Renesas Electronic Corporation (Japan), Breeze Technologies (Germany), eLichens (France), Bosch Sensortec GmbH (Germany), Danfoss (Denmark), Edinburgh Sensors (Uk), GASTEC Corporation (Japan), Nemoto & Co., Ltd. (Japan), SPEC Sensors (US), SIA MIPEX (Russia), Cubic Sensor and Instrument Co., Ltd. (China), and Zhengzhou Winsen Electronics Technology Co., Ltd. (China).  are few other key companies operating in the gas sensor market.

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