June
10, 2019: 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.
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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.
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Further
key findings from the study suggest:
• 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
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