Gas Sensors Market | Key Players are Alphasense, Membrapor AG, Dynament Ltd., Figaro Engineering, Inc., Draegerwerk AG, Aeroqual Ltd., among others.

According to a new market research report published by Acute Market Reports “Gas Sensors Market – Growth, Share, Opportunities, Competitive Analysis and Forecast 2016 – 2023”, the global gas sensors market was valued at US$ 1.96 Bn in 2015 and is projected to reach the US$ 3.02 Bn by 2023, expanding with a CAGR of 5.6% from 2016 to 2023.

Market Insights

Gas sensors refer to sensing devices used across various applications for detection of different gases and their concentration. These sensors are designed to signal (typically sound an alarm) the operators/people in a given area where gas leakage is happening. Gas sensors are used across commercial, industrial as well as residential applications, with industrial sector being the most popular end-user of gas sensors, globally. In the industrial application segment, gas sensors have emerged among the most integral components, over the period of time. Gas sensors are typically designed for detecting concentration of a particular gas and hence can be easily used for specific industrial applications.

The complete report is available at https://www.acutemarketreports.com/report/gas-sensors-market

The overall gas sensors market is highly driven by the ever rising industrial development worldwide. Thus, regions having high density of manufacturing, oil & gas and chemical processing facilities emerge highly lucrative, in terms of consumer base. This makes Asia Pacific and Europe major markets for gas sensors across the world. As of 2015, the overall gas sensors market is dominated by the Asia Pacific region accounting for over one third of the total market revenue worldwide. The market here is majorly backed by countries such as China, Japan, Taiwan, South Korea and India, having high industrial presence. Due to further anticipated industrial expansion in the region, Asia Pacific is estimated to remain dominant in the market throughout the forecast period.

Competitive Insights:

Gas sensors market is quite consolidated in nature with few international players accounting for over half of the total market revenue. With the prolonged existence of gas sensors coupled with worsening environment conditions, developing advanced sensors having high sensitivity and less need for calibration has emerged a prominent trend in the market.

Thus, companies such as City Technology Ltd., Alphasense, Figaro Engineering, Inc., Draegerwerk AG, Robert Bosch emphasize on developing sophisticated and compact gas sensing devices. One of the most significant drivers for the gas sensors market is the rising regulations (especially in Europe) for installing gas detectors. Thus, compliance with regulations is another major trend strictly followed in the market.

Some of the major players profiled in the report are City Technology Ltd., Alphasense, Membrapor AG, Dynament Ltd., Figaro Engineering, Inc., Draegerwerk AG, Robert BoschGmbH Nemoto& Co., Ltd., Aeroqual Ltd., Yokogawa Electric Corporation, Siemens AG, ABB Ltd., NGK Insulators Ltd. and others. 

Key Trends:

• Development of more advanced gas sensors having small size and high sensitivity
• Gas sensors with less periodic calibration so as to maintain/increase their reliability
• Strengthening of sales channel worldwide
• Gas sensors based on microelectromechanical (MEMS) systems

Report Scope by Segments

By Product Type

• Carbon Dioxide (CO2)
• Oxygen
• Carbon Monoxide (CO)
• Nitrogen Oxide
• Hydrogen Sulfide (H2S)
• Hydrocarbons
• Others

By Technology Type

• Electrochemical
• Catalytic
• Semiconductor
• Infrared
• Others

By Geography Segment

• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)