A recent report published by Infinium Global Research on gas sensor market provides an in-depth analysis of segments and sub-segments in the global as well as regional gas sensor market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional gas sensor market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global gas sensor market. According to the report, the global gas sensor market is projected to grow at a CAGR of 6.45% over the forecast period of 2018-2024.
A gas sensor is a device measures the presence or concentration of gases in a particular area and is often integrated into the safety system. These type of sensor devices are essential for the protection of life because there are several gases, which are harmful to organic life such as human, animals and so on. Gas sensor plays a vital role in gas leak detection. Gas sensor usually employs an audible alarm to alert people when a hazardous gas has been detected. Catalytic bead gas sensors, thermal conductivity gas sensors, infrared gas sensors, and semiconductor (metal-oxide) gas sensors are some common types of gas sensors usually used in various application.
The growing use of the gas sensor in petrochemical, oil, and gas, and industrial sector in order to detect toxic and combustible gases, including hydrogen sulfide and nitrogen dioxide is driving the growth of global gas sensor market. Chemical and petrochemical plants are the largest sources of emission of hazards gases during the manufacturing process. The automotive industry is another major application of the gas sensor. The need for monitoring fuel emission, better safety, and comfort in automotive led the demand of gas sensor market. In addition, strict rules and regulation by several government bodies related to the increase in emission of hazardous gas have led the demand of the gas market. Moreover, growing awareness regarding the emission of harmful gases coupled with growth in the adoption of wireless and smart sensor technologies are a positive impact on the gas sensor market. However, the complex design of the gas sensor and high cost related to advanced technologies are some factors restraining the growth of the market. Furthermore, escalating industrialization in developing countries and surge in the inflow of investments of distribution channels are creating growth opportunities for the gas sensor market during the forecast period.
Among the region, Asia Pacific holds maximum share in the gas sensor market owing to the rise in manufacturing industries in the developing countries such as India and China. Moreover, the growing use of the gas sensor in the consumer electronics applications drives the demand of the market. The Asia Pacific region has the largest automotive market and increasing use of the gas sensor in automobile led the demand of gas sensor market. Advancement in the sensor technologies and increase in end-use industries are primarily driving the growth of the market. North America region is expected to significant growth rate during the forecast period. Additionally, the presence of leading sensor manufacturers in the U.S. is further producing prospects for gas sensor market development in the region.
The report on global gas sensor market covers segments such as technology, gas type, and end-use. On the basis of technology, the sub-markets include semiconductor, electrochemical, infrared, solid state, laser, a photo ionization detector, catalytic, and others. On the basis of gas type, the sub-markets include hydrocarbons, oxygen, hydrogen, carbon monoxide, chlorine, carbon dioxide, ammonia, nitrogen oxide, and others. On the basis of end-use, the sub-markets include automotive, industrial, consumer electronics, environmental, medical, petrochemical, and others.
The report provides profiles of the companies in the market such as Amphenol Corporation, Sensirion AG, MEMBRAPOR, Robert Bosch GmbH, Figaro Engineering Inc., City Technology Ltd., Microsens SA, AlphaSense Inc., ams AG, and Dynament Ltd.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of gas sensor market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.