The Global Gas Sensors Market evaluated for USD 892.3 Million in the year 2021. The market is anticipated to grow at a compound annual growth rate (CAGR) of 6.7% in the projected period of 2022-2028.
COVID-19 Impact on the Global Gas Sensors Market:
The COVID-19 outbreak has affected many industries severely. As a result, the industries have faced significant losses during the pandemic. Furthermore, due to the lockdowns and restrictions, the supply chain has disrupted manufacturing, and production rates declined considerably. However, during the pandemic, the Gas Sensors Market has sought a significant rise due to the increasing pollution levels and demand in the healthcare industry due to COVID-19. Increasing use of Gas Sensors in critical industries and health sectors and growing integration of Gas Sensors in Heating, Ventilation, & Air Conditioning(HVAC) systems and air-quality monitors are some of the key factors driving the growth of the overall Gas Sensors Market.
Global Gas Sensors Market Trends:
The rising surge for Gas Sensors in a critical industry is a market trend for the Global Gas Sensors Market. Oil, gas, mining, and power industries use Gas Sensors to detect and control the presence of combustible and toxic gases. During this process, many gases, such as carbon dioxide, ammonia, and hydrocarbons, are released into the air, and excessive emissions of these gases can affect the whole environment. Therefore, respective government regulatory bodies are implementing various restrictions for the industries to detect and monitor the gases released, which helps increase the market growth of these Gas Sensors.
The Gas Sensors are widely used in the automobile industry, air quality monitoring systems, and many other devices dealing with gases which have ultimately led to an overall increase in the Gas Sensors Market. Manufacturers focus on developing applications specific Gas Sensors in the consumer and electronics segment, which primarily comprises tablet smartphones, earphones, and other wearable devices. The increasing number of integrated in these electronic devices helps in monitoring the air quality and temperature, which has boosted the demand for in the consumer electronics market as well. In addition to this, is widely used in the food and beverage industry. For example, an oxygen gas sensor is one of the used in medical equipment such as anesthesia monitoring, respirators, and incubators.
The Global Gas Sensors Market based on the region is divided into and the rest of the world. However, the has been dominating the Gas Sensors Market over the past few years and is expected to grow more in the future. Furthermore, the Gas Sensors Market is estimated to grow in the forecast period due to factors such as increasing urbanization and hefty investments made by government and private organizations.
Key Market Players:
The Global Gas Sensors Market is expected to attract many competing market players owing to the increasing demand for this Gas Sensors. Currently, there are several competing market players in the Gas Sensors Market, such as Honeywell Analytics (UK), MSA Safety Inc. (US), Amphenol (US), Figaro Engineering (Japan), Alphasense Ltd. (UK), Sensirion AG (Switzerland), Dynament Ltd. (UK), AMS AG (Austria), Membrapor AG (Switzerland), Senseair AB (Sweden), to name a few.