Research firm Global Market Insights paints a promising picture of the global gas-sensor market from now through 2024. The company sees this market growing from its value of more than $2.5 Billion to over $3 Billion by 2024. It finds increasing government initiatives to provide safe working environment to the workers at industrial plants are anticipated to provide lucrative growth prospects for the gas sensor market. Also, with rapid global urbanization, greenhouse gas emissions have increased tremendously, necessitating the deployment of gas sensing devices.
Notable Points
- Asia Pacific gas sensor market is poised to witness a growth of 9% in terms of unit shipped due to increasing air pollution levels in China and India because of increasing industrialization and the presence of many manufacturing plants.
- The evolution of printed sensor manufacturing and the demand for flexible electronics have propelled the industry adoption. Several novel gas sensing technologies have emerged in the market including wearable gas sensors, flexible-printed gas sensors, e-nose, wireless gas sensors, carbon nanotubes, and zeolites.
- Components based on conventional metal-oxide semiconductors face severe drawbacks, such as low selectivity, as they are dependent on surface chemistry. The pitfalls associated with these semiconductor sensors are slow recovery or a dosimeter-type response and sensitivity to humidity. Technical issues such as the inability to detect gas leakages, inability to detect gases at certain temperature levels, and producing false alarms are restraining the overall market growth.
- The automotive gas sensor market will reach over USD 1 billion due to an extensive use of gas sensors to meet stringent emission levels and minimize vehicle energy consumption levels.
- Carbon dioxide gas sensor market will grow significantly in the future due to its widespread use in the bulk food storage industry.
- Major players in the gas sensor market comprise City Technology Ltd., Dynament Ltd., Alphasense, Amphenol Advanced Sensors, Bosch Sensortec GmbH, and Figaro Engineering, Inc.
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