The gas sensor market is projected to reach USD 3,137.4 million by 2032 from USD 1,621.9 million in 2024 at a CAGR of 8.6% during the forecast period. Major growth drivers of this market include the rising implementation of gas sensors in industries with critical operations, including oil & gas, chemicals, mining, and power, as they require detecting toxic gases like methane (CH4), carbon monoxide (CO), hydrogen sulfide (H2S), and volatile organic compounds (VOCs) in such industries to prevent accidents. Global implementation and enforcement of several health and safety regulations are encouraging the adoption of gas sensors to ensure worker safety, environmental monitoring, and emission control, hence fueling the demand for the product across industries.
Some of the major players in the gas sensor market
with significant global presence are include Honeywell International Inc. (US),
MSA (US), Amphenol Corporation (US), Figaro Engineering Inc. (Japan), and
Alphasense Inc. (UK). These players have incorporated various organic and
inorganic growth strategies including collaborations, acquisitions, product
launches, partnerships, agreements, and expansions to strengthen their
international footprint and capture a greater share in the gas sensor market.
These organic and inorganic strategies have allowed the market players to
expand themselves across geographies by offering gas sensors.
Major Gas
Sensor Companies Include:
- Honeywell
International Inc. (US)
- MSA
(US)
- Amphenol
Corporation (US)
- Figaro
Engineering Inc. (Japan)
- Alphasense
Inc. (UK)
- Sensirion
AG (Switzerland)
- Process
Sensing Technologies (UK)
- ams-OSRAM
AG (Austria)
- Membrapor
(Switzerland)
- Senseair
(US)
- Nissha
Co., Ltd. (Japan)
- Fuji
Electric Co., Ltd. (Japan)
- Renesas
Electronics Corporation (Japan)
- Danfoss
(Denmark)
- Gasera
(Finland)
- Infineon
Technologies AG (Germany)
Honeywell
International Inc. (US) aims to expand its position as a leading
provider of gas-sensing solutions for customers. The company has stressed on
expansion strategy to tap business opportunities in emerging markets. The
development of new and innovative products is also helping the company
strengthen its brand image. For instance, the company launched a new
infrared-based (IR) technology, Fs24x plus flame detector in October 2023. It
detects hydrogen flames quickly and reliably. It helps protect workers and
facilities from hydrogen production and usage risks. It mainly provides sensors
based on gas sensing technologies, such as infrared, catalytic, and
electrochemical, in the gas sensor market. The company is primarily involved in
R&D for product innovation and invention, for which it has tied up with
several universities. The company has an established geographic presence in the
UK, Germany, China, Taiwan, and the US. It offers a wide range of gas sensors,
thus catering to various applications, including those used in harsh and hazardous
environments. The company offers over 300 different sensors sold in 48
countries worldwide.
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MSA (US) is
a global manufacturer of safety instruments. The company offers a wide range of
gas sensors and gas sensor-based products, including portable gas sensors,
multiple-gas sensors, and connected/cloud-based safety services, to various
industries. It provides portable gas sensors through its ALTAIR series, while
the cloud-based devices are offered through its subsidiary Safety io, LLC,
which is focused on using wireless technology and cloud-based computing to
offer a broad range of connected and safety services. The company has
manufacturing operations in the US, Europe, Asia, and Latin America. MSA offers
its products to various markets, such as oil & gas, petrochemical, fire
service, construction, mining, and military. MSA focuses on developing wireless
devices and portable gas sensors; it is expected to grow significantly in the
coming years as its gas sensors are equipped with cloud-based services. The
company makes significant investments in research and development, which is
reflected through its product offerings.
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