The gas
sensor market was valued at USD 812.3 million in 2016 and is expected
to reach USD 1,297.6 million by 2023, at a CAGR of 6.83% between 2017 and 2023.
The base year considered for the study is
2016, and the forecast period provided is between 2017 and 2023. The objective
of the report is to provide a detailed analysis of the market based on gas
type, technology, end-use application, and geography; information regarding the
major factors influencing the growth of the market (drivers, restraints,
opportunities, and challenges); and a detailed value chain analysis. Moreover,
the objective of this report is to strategically profile the key players and
competitive landscape for market players, and provide information on product
launches, acquisitions, partnerships, agreements, and collaborations in the gas
sensors market.
Some
major players offering gas sensors for various end-use application are: Amphenol
Corporation. (US) serves a number of end-use applications such as aerospace,
automotive and transportation, and medical. Another major player City
Technology Ltd (UK) serves applications such as safety, automotive, medical,
and residential safety.
Download PDF Brochure @https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=245141093
Gain a Deeper Dive on a Specific
Application, Geography, Customer or Competitor.
Increasing enforcement of occupational health and safety regulations by
governments
Increasing implementation of
rules and regulations by government bodies to ensure occupational health and
safety of employees is the main driving force spurring the growth of the gas
sensors market. Safety regulations are an important part of any industry,
especially for industries that are more susceptible to accidents such as oil
& gas, chemicals, and building and construction. Gas sensors play an
important role in the detection of hazardous gases and thus prevent accidents
caused by its leakage. For instance, in 2015, a massive methane gas leakage was
witnessed in Los Angeles (US). This was one of the worst accidents in the US
history; the methane gas spewed out in the atmosphere. The leakage was measured
at 97,100 metric tons. After this accident, the US Environmental Protection
Agency (EPA) imposed stringent regulations for methane emission monitoring in
oil & gas operations. This regulation requires monitoring of oil & gas
operations in both upstream and midstream plants to detect the fugitive
emission of methane gas. The new requirement also requires robust detectors and
monitoring systems to be deployed in the plant to ensure no leakage or emission
takes place. In November 2016, the Interior’s Bureau of Land Management
announced that state aims to reduce the emissions of methane gas by 40–45% by
the end of 2025.
Technical issues related to sensitivity, energy consumption, and
stability
The global gas sensors market is
growing, but there are some technical hitches that are yet to be addressed.
These hitches include high power consumption (with respect to applications for
smartphones and tablets), high manufacturing cost, and deficiency in
selectivity and complex fabrication processes are a few of them. Although,
there are many technologies present in the market to manufacture gas sensors
none provide all the required features. For instance, devices built on metal
oxide semiconductor technology consume more power than an electrochemical
technology-based device, whereas devices built with the combination of metal
oxide semiconductor and silicon-based micromechanical free standing hot plates
(silicon hotplate) technology results in minimum power loss. Other issues are
operating conditions, e.g., gas sensors built with current technologies cannot
maintain a high level of selectivity in the intense humid environment. Also,
the sensitivity of the catalytic bead technology-based sensor is very high
toward airborne contaminants, but excess exposure can lead to sensor
malfunctioning. These are a few of the restraining factors hampering the growth
of the global gas sensors market.
Browse Related Reports :
Wireless
Gas Detection Market by Technology (Wi-Fi, Bluetooth, Cellular,
License-Free Ism Band), Type (Hardware (Detectors/ Sensors, Gateways, Monitors
and Controllers), Software, Services), and Geography - Global Forecast to 2023
About MarketsandMarkets™
MarketsandMarkets™ provides
quantified B2B research on 30,000 high growth niche opportunities/threats which
will impact 70% to 80% of worldwide companies’ revenues. Currently servicing
7500 customers worldwide including 80% of global Fortune 1000 companies as
clients. Almost 75,000 top officers across eight industries worldwide approach
MarketsandMarkets™ for their painpoints around revenues decisions.
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
