We salute industry experts
helping companies survive and sustain in this economic pandemic; they are
working day and night to help companies take rapid-decisions by finding
- Covid Impact on Gas
Sensors Market, growth/decline in product type/use cases of Gas
Sensors Market due to cascaded impact of Covid on Extended Ecosystem..
- How top 50 companies in Gas
Sensors Market are making rapid shifts in their strategies as we speak
here...
- Outside-in view of top 50
companies client and client's clients shifting short-term priorities
The gas
sensors market size is
projected to grow from USD 1.0 billion in 2019 to USD 1.4 billion by 2024, at a
CAGR of 6.4% from 2019 to 2024. The formulation and implementation of various
health and safety regulations across the globe, increased adoption of gas
sensors in HVAC systems and air quality monitors, rise in demand for gas
sensors from critical industries, increased air pollution levels, and the need
to monitor air quality in smart cities are the major factors driving the growth
of the gas sensors market.
Smart
cities & building automation segment to hold the largest market size by
2024
By application, the smart cities &
building automation segment is projected to lead the gas sensors market by
2024. Rising environmental pollution levels and an increasingly degrading
indoor air quality have created a significant demand for gas sensors in HVAC
and air quality monitoring systems. In smart cities, gas sensors can be used
for environmental monitoring applications. Major gases that are monitored
include CO, CO2, SO2, NO, NO2, and VOCs. The increasing number of smart city
projects in developing countries is expected to drive the growth of the gas
sensors market.
Oxygen
segment to lead the gas sensors market during the forecast period
By gas type, the oxygen segment is projected
to lead the gas sensors market during the forecast period. Oxygen detectors,
analyzers, and monitors are widely used in automotive, smart cities &
building automation, food & beverages, and other industrial applications.
Medical equipment is another application area for oxygen sensors. These oxygen
sensors are used in incubators and other hypoxic life science products,
anesthesia monitors, respirators, and oxygen concentrators.
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APAC
to account for the largest share of the gas sensors market during the forecast
period
By region, Asia Pacific (APAC) is projected
to account for the largest share of the gas sensors market during the forecast
period. The market in this region has been studied for China, Japan, India,
South Korea, and the Rest of APAC. The APAC gas sensors market is mainly
dominated by China and Japan. The market growth in this region can be
attributed to the increased use of gas sensors in automotive &
transportation, smart cities & building automation, power stations, oil
& gas, and chemical applications. Rising awareness regarding the impact of
air pollution on health has led to an increase in demand for air purifiers, air
cleaners, and air quality monitors in APAC, which, in turn, drives the growth
of the market in the region. Increasing government activities to reduce air
pollution in several APAC countries, such as China and India, are expected to drive
the demand for gas sensors in the Asia Pacific region. This region is also the
largest end-user of HVAC equipment. The growing construction industry, due to
increasing population and urbanization, drives the APAC HVAC market, which, in
turn, creates a demand for gas sensors in the region.
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