Gas Sensors Market Analysis, Financial Overview and Growth Prospects Predicted by 2027 | Impact of COVID-19

[Snehal Kale]

Overview

The global Gas Sensor Market is expected to reach USD 1795.9 million by 2025 at a CAGR of 8.66% during the forecast period. Market Research Future (MRFR), in its report envelops segmentation and drivers to provide a better glimpse of the market in the coming years. A gas sensor is an electronic device that is used to detect several types of gases to measure gas concentration and levels of toxicity. Gas sensors used for applications in industrial processes, environmental monitoring, aerospace and defense, automotive exhaust and transportation, smart cities and smart homes, HVAC applications, among others

Competitive Analysis

The key players of the global gas sensor market are City Technology Ltd (UK), Dynament(UK), AlphaSense (UK), Amphenol Corporation (US), Bosch Sensortec GMBH (Germany), AMS AG (Austria), SenseAir AB (Sweden), NEW COSMOS ELECTRIC CO., LTD.(Japan),  Membrapor AG (Switzerland), Sensirion AG (Switzerland), and MSA (US), among others.

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In August 2017, New Cosmos Electric Co., Ltd. launched a range of gas detectors for applications in the energy industry vertical. These products include portable combustible gas detector XP-3000 series, portable multi-gas detector XA-4400II, portable multi-gas detector XP-302M, personal CO/O2/H2S detector XX-2200 series, digital oxygen indicator XO-326IIS, portable VOC analyzer XG-100V, cart-type combustible gas detector XP-707IIIai, and fixed gas detector KD-12S.

In June 2018, New Cosmos Electric Co., Ltd. launched gas detectors and alarms to ensure the safe use of liquefied natural gas (LNG) with digital signage displays. These products include fixed gas detector KD-12, gas leak detector XP-702III, and battery-operated fire/gas/CO alarm MC-315S. 

Segmental Analysis

The global Gas Sensors Market Analysis has been segmented based on technology, gas type, application, and region. 

Based on technology, the market has been classified into electrochemical, photoionization detectors, solid state/metal oxide semiconductor, catalytic, infrared, laser, others. The electrochemical segment accounted for the larger market share in 2019, with the higher market value. The photoionization detectors (PIDs) are gas detectors used for the detection of various organic compounds. The catalytic gas sensors are used for measuring concentrations of combustible gases for the prevention of explosive accidents within industrial and domestic environments. The infrared gas sensors manufactured by using infrared light, an optical filter to select the proper wavelength, and an optical, infrared receiver. The laser-based gas sensor is used for quantifying and detecting polluting gases, which include methane and carbon dioxide. The other segment consists of different technologies, which include Zirconia, Holographic, and others

Based on gas type, the market has been classified into oxygen, carbon monoxide, carbon dioxide, hydrogen sulfide, nitrogen oxide, methane, hydrogen, and others. The carbon dioxide accounted for the largest market share in 2018, with the highest market value. The oxygen         gas sensors used for monitoring gaseous oxygen levels in a variety of chemistry and biology experiments. It is used in industrial, specialized medical, and scientific applications. The carbon monoxide sensor is used in large industrial applications such as chemical, food, medical, and other industries. The carbon dioxide sensor used for the detection of carbon dioxide gas. These sensors are used in a wide range of applications, which include, aerospace, healthcare, transportation, and other industries. The hydrogen sulfide gas sensor is used in applications in petrochemical plants, drilling and production, transportation, iron smelters, food processing plants, and fire & gas detection. The nitrogen oxide sensor used for the detection of nitrogen oxide within an environment. Additionally, these sensors are used in the automotive industry; for instance, NOx sensors are used in diesel vehicles for the detection of the amount of NOx gas emitting from the engine. A methane gas sensor is a device that is used for detecting and monitoring the concentration of methane present in the air in % LEL (Lower Explosive Limit) levels or in percent by volume levels. The hydrogen sensors are used for detecting leakages in the process and monitoring of air concentrations to preventing catastrophic events. The other segment by gas type consists of various gases, which include ammonia, chlorine, hydrocarbons, and others used in the food and beverage industries for refrigeration, flash freezing, and bulk storage. 

The global gas sensor market, by region, has been segmented into North America, Europe, Asia-Pacific, Rest of The World. North America accounted for the largest market value of USD 370.1 million in 2019; the market is expected to register a CAGR of 8.0% during the forecast period. Asia-Pacific was the second-largest market in 2019, valued at USD 329.7 million; it is projected to register the highest CAGR of 10.0%. 

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