Global Gas Sensors Market Industry Size, Share & Trends Analysis Report 2028
Author : Steve Stark | Published On : 09 May 2024
The global gas sensor market size is projected to grow from USD 1.5 billion in 2023 and is expected to reach USD 2.3 billion by 2028, growing at a CAGR of 9.7% from 2023 to 2028.
The application of gas sensors in smart cities and building automation has witnessed significant growth in recent years. Additionally, gas sensors are used to detect leaks of hazardous gases such as natural gas, propane, and ammonia in pipelines, storage facilities, and industrial settings. Prompt detection and response to leaks can prevent potential disasters, protect public safety, and minimize environmental impact.
Market for Electrochemical technology is expected to have largest market share during the forecast period.
Electrochemical technology is expected to hold the largest share of the market as it is less affected by temperature and pressure, offers linear output, consumes low power, and measures gases at low concentration levels. Electrochemical technology plays a crucial role in the design and operation of gas sensors, offering a range of advantages for detecting and measuring various gases. This technology utilizes electrochemical principles to convert the presence of specific gases into measurable electrical signals, providing a versatile and effective approach to gas sensing. Hence, the adoption of electrochemical sensors is high.
Market for smart cities and building automation segment in the gas sensor market to have largest market size during the forecast period.
The smart cities and building automation segment in the gas sensor market for application is expected to hold the largest market size during the forecast period in the gas sensor market. Gas sensors are installed in buildings to measure indoor air quality levels, ensuring a healthy and comfortable environment for occupants. They monitor for pollutants like carbon dioxide, volatile organic compounds, and formaldehyde, providing real-time data to optimize ventilation systems and improve indoor air quality.
Air quality monitors segment is expected to hold the largest market share in the gas sensor market by 2028.
Air quality monitors are devices that measure the level of common air pollutants. Air quality monitors are used to identify and address sources of indoor air pollution, such as mold, radon, or volatile organic compounds (VOCs). By improving air quality, air quality monitors can help to reduce the risk of respiratory problems, heart disease, and other health problems associated with air pollution.
Gas sensor market in the Asia Pacific estimated to grow at the fastest rate during the forecast period.
The rapid industrialization and urbanization in the Asia Pacific region are leading to increased demand for gas sensors in various industries, including chemical, energy, and environmental monitoring. As industries expand and production levels rise, the demand for gas sensors for monitoring and controlling industrial processes also increases.
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Gas sensors are crucial for ensuring safety, preventing hazardous gas leaks, and optimizing industrial operations. Moreover, Increasing urbanization and income levels and ongoing construction activities for the development of residential and commercial infrastructure in Asia Pacific are expected to lead to demand for HVAC systems equipped with gas sensors in the region, thereby fueling the growth of the gas sensor market growth in the region.
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