Global Gas Sensor Market

Gas Sensor Market Size, Share, Growth Analysis, By Product(Oxygen (O2)/Lambda Sensors, Carbon Dioxide (CO2) Sensors), By Type(Wireless, and Wired), By Technology(Electrochemical, Semiconductor), By End-use(Medical, Building Automation & Domestic Appliances) - Industry Forecast 2024-2031

Report ID: SQMIG20D2161 | Region: Global | Published Date: March, 2024
Pages: 202 | Tables: 130 | Figures: 77

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Gas Sensor Market size was valued USD 2.69 billion in 2022 and is poised to grow from USD 2.95 billion in 2023 to USD 6.09 Billion by 2031, at a CAGR of 9.5% during the forecast period (2023-2031).

The market is fragmented in nature on account of the presence of multiple players. Market players are growing their market position by various tactics such as mergers and acquisitions, new product launches, and strategic collaborations, among others. Market vendors are also aggressively spending in R&D to improve their product offerings. Because of the benefits associated with wireless devices, market players are primarily providing wireless gas sensors. 'Alphasense Ltd.', 'Amphenol Corporation', 'City Technology Ltd.', 'Drägerwerk AG & Co. KGaA', 'Figaro Engineering Inc.', 'First Sensor AG', 'Honeywell International Inc.', 'Membrapor AG', 'MSA Safety Incorporated', 'Nemoto & Co. Ltd.', 'NGK Insulators Ltd.', 'Robert Bosch GmbH', 'Sensirion AG', 'Siemens AG', 'Teledyne Technologies Incorporated', 'Thermo Fisher Scientific Inc.', 'Trolex Ltd.', 'Yokogawa Electric Corporation', 'Aeroqual Ltd.', 'Cubic Sensor and Instrument Co., Ltd.'

Gas sensors are being increasingly used in the automotive industry to monitor exhaust emissions and improve fuel efficiency, which is driving the demand for gas sensors in this sector.

Miniaturization of gas sensors: Gas sensors are becoming increasingly miniaturized, with manufacturers developing smaller and more compact sensors that are easier to integrate into devices and systems. This trend is driven by the growing demand for portable and handheld gas sensors, as well as the need for sensors that can be integrated into IoT devices and smart systems.

Asia Pacific dominated the market, accounting for more than 32.0% of revenue globally in 2022 and is projected to continue dominating during the forecast period. The growing awareness of the impact of air pollutants on human health in Asia Pacific countries such as India and China is increasing demand for gas sensors for air quality monitoring. The region's growing urbanization is also adding to the rising need for gas sensors. Furthermore, governments in the Asia Pacific area are substantially investing in smart city projects, offering significant opportunities for smart sensor devices. Such characteristics bode well for the expansion of the regional market.

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Global Gas Sensor Market

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