The global gas sensors market volume was evaluated at $1900 million for 2014. It is predicted to touch $2900 million mark by end of the forecasted period at a CAGR of 5.4%.
The global gas sensors market growth is driven by innovations in sensor technology and embedded electronics. The demand for gas sensing equipments in manufacturing & process sectors is growing today and is also predicted to grow during the forecasted period.
These equipments ensure health & occupational safety of the workers and so they are widely used in the production & process sectors. This factor is predicted to fuel the demand & growth of global gas sensors industry during estimated period. Also acceptance & trend of using smart sensing techniques and wireless gas sensors in industries is growing as they provide cost advantages, installation benefits and better performance in comparison to their counterparts. This is also one of the factors predicted to fuel the demand and growth of the global gas sensors market during forecasted period.
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Based on the product, the global gas sensors market is bifurcated into carbon monoxide sensor, carbon dioxide sensor, nitrogen oxide sensor, oxygen sensor and others.
Oxygen sensors section contributed maximum revenue share to the total share of the global gas sensors market in 2013. It is predicted to gain maximum market share of the global market during the forecasted period as oxygen sensors are necessary to be installed in automobiles for maintaining air quality of cabins and ensure workers safety by avoiding industrial & environmental mishaps.
Latin America gas sensors market by application, 2012-2022 (USD Million)
Carbon dioxide sensing items are experiencing growth in demand from bulk food storage segment due to their ability to detect early spoilage and admissible levels of carbon dioxide in storage structures. All these aspects have contributed to the demand and growth of the carbon dioxide sensor section. This has contributed to the demand and growth of the global gas sensors market.
Carbon monoxide sensors are used to detect the levels of carbon monoxide gas in industries .This helps in avoiding industrial mishaps due to poisoning of environment by carbon monoxide gas. It thus ensures environmental, occupational and workers safety in industries.
Based on the technology, the global gas sensors market is divided into electrochemical gas sensing, infrared gas sensing, photo ionization detector gas sensing, catalytic gas sensing, semiconductor gas sensing, solid state gas sensing and others.
Electrochemical gas sensors and semiconductor gas sensors are in demand due to its low costs and high efficacy. Both of them combined contributed maximum share to the total share of the global market for 2012. These gas sensors based on electrochemical & semiconductor gas sensing technologies are most preferred by customers as they are cost effective and accurately detect combustible &
toxic gases. All these factors contribute towards the growth of the global industry.
The big product life cycle of infrared gas sensor due to its chemical inert property is predicted to fuel the demand and growth of the infrared gas sensing technology during forecasted period. This is predicted to contribute largely towards the growth of the global gas sensors market.
Based on the end user, the global gas sensors market is bifurcated into automotive, medical, petrochemical, environmental, industrial, building automation & domestic equipments and others.
Industrial section contributed maximum share to the global market in 2014. The section is also predicted to retain its market domination during forecasted period. Rising concerns about occupational health hazards, government norms for emission control and workers safety are predicted to be few of the key factors driving the growth of this section. All these factors combined are promoting the demand and growth of the global gas sensors market.
Automotive section also contributes a big share to the global gas sensors market. The reason behind this is the requirement of safety and comfort in automotives leading to inclusion of various kinds of gas sensors in automobiles for checking fuel emission and air quality of cabins.
Browse full market research report on, “Gas Sensors Market Size By Technology (Electrochemical, Semiconductor, PID, Solid State, Catalytic, Infrared), By Product (Oxygen, Carbon Dioxide, NOx, Carbon Monoxide), By End-Use (Medical, Environmental, Petrochemical, Building Automation & Domestic Appliances, Automotive, Industrial), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2015 – 2022”, please click on the link below:
Based on the geographical locations, the global gas sensors market is segmented into North American subcontinent, APAC zone, European continent and rest of the world.
APAC zone contributed maximum share to the global gas sensors market for 2014. It also dominated the global industry in 2013 in terms of revenue. The factors contributing to the market domination by APAC zone include technological breakthroughs and automation in the regions of APAC zone. APAC zone is the biggest market for automobile sector and growing use of gas sensors in automobiles for various applications has substantially added to the share of APAC zone in the global gas sensors market.
Further rising demand from integrated items used in hand held equipments has also boosted the expansion of the global gas sensors market in the APAC zone. Further, favourable government policies like health & welfare at work act and industrial safety act are the factors that are predicted to propel the demand & growth of the global gas sensors market during forecasted period.
Europe has dominated the global gas sensors market. Strict emission regulating norms and power conservation initiatives executed by the regional authorities in Europe are predicted to boost the regional demand for automotive segment in Europe. These are the few of the key growth drivers predicted to promote the growth of market in Europe. Rising demand from end use sectors and growing use of the gas sensor equipments are also projected to be the key growth drivers for the industry in Europe. But APAC zone is predicted to become a market leader surpassing Europe in next few years. Countries like UK, China, Canada, Japan, Italy, India, France, Brazil, Germany, US and Spain are the key global gas sensor markets.
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