The overall gas sensors market is expected to be valued at USD 1,297.6 million by 2023, growing at a CAGR of 6.83% between 2017 and 2023.
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The major factors driving the growth of the gas sensors market include increasing enforcement of occupational health and safety regulations by the government, MEMS-based sensors, development of miniaturized wireless sensors, and increasing awareness of air quality control among users.
Advanced technologies, e.g., MEMS-based fabrication of sensors create the opportunity for the gas sensors market to grow. This technology has enabled miniaturization, production in high volume, and low-cost integration with electronics.
Global Gas Sensors Market Companies Mentioned In Report: City Technology Ltd (UK), Dynament (UK), Alphasense (UK), Amphenol Corporation. (US), Bosch Sensortec (Germany), ams AG (Austria), SenseAir AB (Sweden), Figaro Engineering Inc.
(Japan), Membrapor AG (Switzerland), and Sensirion AG (Switzerland), and MSA (US). The Dow Chemical Company (U.S.), and Incotec Group BV (Netherlands).
These companies have adopted various strategies, such as mergers & acquisitions and partnership, among others to achieve growth in the global Gas Sensors system market.
The gas sensors market for the oil & gas industry is expected to account for the largest market share by 2023as a result of increasing oil & gas projects, replacement of obsolete sensors, and continuously increasing demand from oil & gas industries from emerging economies. Increasing shale gas production in the US will also drive the gas sensors market in the US.
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- Gas Sensors Market Premium Insights:
- Attractive Opportunities in Gas Sensors Market.
- Gas Sensors Market, By Function.
- Gas Sensors Market in Asia-Pacific Region.
- Gas Sensors Market: Major Countries.
- Gas Sensors Market, By Crop Type & Region.
- Gas Sensors Market, By Crop Type.
- Gas Sensors Market Life Cycle Analysis, By Region.
- Gas Sensors Market Overview:
- Market Segmentation
- Market Dynamics
- Gas Sensors Market, By Technology:
- Gas Sensors Market, By Type
- Gas Sensors Market, By Application
- Global Gas Sensors Market, By Region
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The consumer electronics segment is expected to grow at the highest rate as gas sensors are expected to be integrated into smart phones, tablets, and wearable devices to detect gases such as alcohol, carbon monoxide, carbon dioxide, nitrogen dioxide, and VOCs.
The major drivers for the rapid growth of the said market in APAC are the rising investments in sectors such as infrastructure, housing, and medical care, which are attributed to the growing population and urbanization in the said region. The strong economic growth and increase in manufacturing industries, such as automotive, and metals and chemicals, in APAC are expected to drive the gas sensors market in this region.
This research report categorizes the overall gas sensors market based on gas type, technology, end-use application, MEMS-based gas sensors, and geography. The report describes major drivers, restraints, challenges, and opportunities pertaining to the market as well as provides value chain analysis.