Market Overview 

The primary objective of a gas sensor is to detect any potential leakage of toxic gases and alert individuals within its vicinity of the imminent danger. Gas sensors as electronic devices form a vital part of industrial safety & security equipment, identifying the nature of gas leaked and measuring leakage concentration. 

Market Dynamics  

The increasing product adoption in HVAC systems of industrial manufacturing facilities and the rising need for air quality and pollution level monitoring in residential housing societies and urban cities are the primary factors driving the market growth. The growing public concern about the air quality inside residential buildings and pollution levels in metropolitan cities with dense populations has instilled a need to purchase and install gas sensors in various strategic locations, which would provide raw gas level data for subsequent strategies and actions. The heightened risks of large-scale accidents in the event of a faulty gas leak in industrial settings is considered an extreme fatality factor, with the potential loss of life and property deemed as a severe blow to industrial credibility. The gas sensors are adept at detecting possible gas leaks and quickly alert the concerned authorities for prompt corrective actions. The rising investments into the opening of new facilities and expansion of production units to cater to a higher product yield would give a boost to the purchase orders of gas sensors, bolstering market growth during the forecast period. However, the presence of product technical challenges and issues of high maintenance costs might hamper the market growth. The need for sensors with extended service life is high but is not feasible as of yet, as gas sensors in operation generally depend on the limitations of a power source. The gradual development and commercialization of miniaturized wireless gas sensors would provide lucrative opportunities for the market in the coming years. The progressive design considerations in terms of sensor miniaturization and portable operations have positively influenced product sales, boosting possibilities of upliftment in financial revenue generation for top market vendors. 

Market Segmentation 

The global Gas Sensors market is mainly classified based on Type and Application. Type is segmented into Oxygen, Carbon Monoxide, Carbon Dioxide, Ammonia, Chlorine, Hydrogen Sulfide, Nitrogen Oxide, and Hydrocarbon. By Application, the market is bifurcated into Water & Wastewater Treatment, Oil & Gas, Environmental, Automotive, Metal & Chemical, Consumer Electronics, and Others. 

The Carbon Dioxide segment by Type holds a considerable share in terms of overall market value and volume owing to the emergence of the gas as a toxic greenhouse substance and its negative impact on the levels of air quality. The growing urbanization and incremental growth in automotive vehicles in urban cities have propelled the demand for CO2 gas sensors and detectors, which would boost the development of the segment over the forecast period. 

In terms of volume, the Oil & Gas segment by Application is poised to garner 17,127.3 K Units by 2026; witnessing a CAGR of 5.9% during 2020-2026. The increased focus on worker safety and improved efforts at quick detection of potential causes for industrial accidents would bolster the segment growth in the coming years. 

Regional Analysis 

Based on geography, the global Gas Sensors market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided into the U.S., Canada, and Mexico, whereas Europe consists of the UK, France, Germany, Italy, Russia, and Rest of Europe. Asia-Pacific is segmented into China, India, Japan, South Korea, and Rest of Asia-Pacific. The South America region consists of Brazil, Argentina, and the Rest of South America. At the same time, Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa. 

North America is a prominent region and accounts for a substantial market share in overall market production volume. The establishment of large-scale manufacturing facilities and rising investment efforts towards increasing the safety & security of staff and workers in several industrial factories would continue to instigate positive outcomes for the prospects of regional market growth. 

Competitive landscape 

The Gas Sensors market is relatively fragmented, with several global and regional companies operating in the evolving market scenario with expansive manufacturing capabilities and extensive product distribution networks. The ability of local vendors to cater to the customized needs of users in a quick manner and timely product delivery would further intensify the market competitiveness. 

Key players operating in the Gas Sensors industry include ABB Ltd., AlphaSense Ltd., Amphenol Advanced Sensors, ams AG, Bosch Sensortec GmbH, City Technology Ltd., Dynament Ltd., Figaro Engineering Inc., Membrapor AG, Nemoto Sensor Engineering Co., Ltd., Senseair AB, Sensirion AG, and Siemens AG. 

The new product launches after thorough technological advancement and diversification of business opportunities through strategic acquisitions and tactful collaborations are the primarily followed business strategies of the top vendors seeking to capture significant market share over the forecast period. 

Covid-19 Impact Analysis 

The challenges emerging out of the changing market scenarios during the global Covid-19 pandemic have initiated an extensive disruption in the supply chain dynamics of the Gas Sensors market. The complications in the procurement of raw materials and extended delay in final product delivery timelines have hurt the prospects of market growth in these unprecedented times. The long periods of inactivity regarding chemical processing in specific facilities would decrease the need for new gas sensors, with a slowdown in manufacturing initiatives set to hurt the Gas Sensor market growth prospects. The closing of industrial facilities has instilled a shortage in new gas sensor demand, as the production units witness some of the least operational activities in recent times. The resulting slowdown of the global economy and adoption of cost-cutting measures in daily industrial activities might reduce the potential sale of gas sensors as well. Such factors might pose severe obstacles to market growth prospects in these uncertain times. 

Gas Sensors Market Key Segments: 

By Type 

• Oxygen 
• Carbon Monoxide 
• Carbon Dioxide 
• Ammonia 
• Chlorine 
• Hydrogen Sulfide 
• Nitrogen Oxide 
• Hydrocarbon 

By Application 

• Water & Wastewater Treatment 
• Oil & Gas 
• Environmental 
• Automotive 
• Metal & Chemical 
• Consumer Electronics 
• Others 

Key Global Gas Sensors Industry Players 

• ABB Ltd. 
• AlphaSense Ltd. 
• Amphenol Advanced Sensors 
• ams AG 
• Bosch Sensortec GmbH 
• City Technology Ltd. 
• Dynament Ltd. 
• Figaro Engineering Inc. 
• Membrapor AG 
• Nemoto Sensor Engineering Co., Ltd. 
• Senseair AB 
• Sensirion AG 
• Siemens AG 

What Report Provides 

• Full in-depth analysis of the parent Industry 
• Important changes in market and its dynamics 
• Segmentation details of the market 
• Former, on-going, and projected market analysis in terms of volume and value 
• Assessment of niche industry developments 
• Market share analysis 
• Key strategies of major players 
• Emerging segments and regional growth potential