Gas Sensor Market Poised to Cross $3.43 Billion By 2025: Grand View Research, Inc

July 09 13:10 2019
Gas Sensor Market Poised to Cross $3.43 Billion By 2025: Grand View Research, Inc

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global gas sensor market was valued at USD 2.05 billion in 2018 and is expected to register a CAGR of 7.8% from 2019 to 2025.

The global gas sensor market size is anticipated to reach USD 3.43 billion by 2025 registering a CAGR of 7.8%, according to a new report by Grand View Research, Inc. Factors, such as increased demand for smart & wireless gas sensors and regulatory initiatives in developed markets of North America and Europe, have propelled the product adoption. A gas sensor is a device that detects the presence of gases in particular areas and is often integrated into a safety system. It consumes low power and can be integrated into portable handheld devices, which further creates opportunities for market growth.

Technological developments, such as enhancement of MEMS sensors, and need for hydrogen detection on account of its use as a fuel are also expected to contribute to industry growth. The introduction of embedded electronics, coupled with sophisticated firmware and improved manufacturing techniques, has enabled developments in gas detection technologies. Numerous sensors are used to monitor emission levels and air quality in the automotive industry. Moreover, the accelerated use of wireless sensor technologies and semiconductor-based sensors is expected to drive the market further.

The Infrared (IR) technology segment is anticipated to witness the highest CAGR as IR enables the measurement of a wide variety of gases including methane, Carbon Dioxide (CO2), and Volatile Organic Compounds (VOCs) such as acetylene, benzene, and butane. Moreover, rising need for safety in the industrial sector is boosting the product demand further, creating new opportunities for market growth.

Browse Details of Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/gas-sensors-market

U.S. gas sensor market size, by end use, 2014 - 2025 (USD Million)

Key Takeaways from the report:

  • The demand for gas sensors has increased over the last few years owing to their real-time monitoring, cost effectiveness, and reliability in performance
  • The U.S. government is investing considerable amount of monetary and non-monetary resources to encourage product adoption across various sectors and carry out initiatives, such as smart cities
  • Stringent safety regulations to protect workers from hazardous gases in different industries are also boosting product demand, thereby driving the market growth
  • Various end users are adopting electrochemical sensors owing to their features, such as indoor air quality, emission control, and landfill gas detection
  • Some of the Key companies in the market include ABB Ltd., Nemoto & Co. Ltd.; and Robert Bosch LLC

Europe gas sensor market share, by technology, 2018 (%)

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Grand View Research has segmented the global gas sensor market on the basis of product, technology, end use, and region:

Gas Sensor Product Outlook (Volume, Million Units; Revenue, USD Million, 2014 – 2025)

  • Oxygen (O2)/Lambda
  • Carbon Dioxide (CO2)
  • Carbon Monoxide (CO)
  • NOX
  • Methyl Mercaptan
  • Others

Gas Sensor Technology Outlook (Revenue, USD Million, 2014 – 2025)

  • Electrochemical
  • Semiconductor
  • Solid State/MOS
  • Photo-Ionization Detector (PID)
  • Catalytic
  • Infrared (IR)
  • Others

Gas Sensor End Use Outlook (Volume, Million Units; Revenue, USD Million, 2014 – 2025)

  • Medical
  • Building Automation & Domestic Appliances
  • Environmental
  • Petrochemical
  • Automotive
  • Industrial
  • Agriculture
  • Others

Gas Sensor Regional Outlook (Volume, Million Units; Revenue, USD Million, 2014 – 2025)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Germany
  • Asia Pacific
    • China
    • India
    • Japan
  • South America
    • Brazil
  • Middle East & Africa

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

 

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