The
gas sensors market is expected to be valued at USD 1,297.6 million
by 2023, growing at a CAGR of 6.83% between 2017 and 2023. The major factors
driving the growth of this market include increasing enforcement of
occupational health and safety regulations by the government, MEMS-based
sensors, development of miniaturized wireless sensors, and increasing awareness
of air quality control among users.
This
report segments the market on the basis of gas type, technology, end-use
application, and geography. The market for oxygen is expected to witness a
significant growth during the forecast period. The rising demand for oxygen gas
sensors used in the medical sector in devices, such as anesthesia machines,
ventilators, oxygen monitors, and analyzers, is driving the oxygen gas sensors
market. Also, oxygen gas sensors are used in huge numbers in automotive and
transportation applications. The growth in the automotive industry is also
driving the oxygen sensors market significantly.
The
market for the oil & gas industry to hold the largest share during the
forecast period. The market for the oil & gas industry is expected to
account for the largest market share by 2023 as a result of increasing oil
& gas projects, replacement of obsolete sensors, and continuously
increasing demand from oil & gas industries from emerging economies.
Increasing shale gas production in the US will also drive the gas sensors
market in the US.
Consumer
electronics is expected to grow at the highest rate during the forecast period.
The consumer electronics segment is expected to grow at the highest rate since
gas sensors are expected to be integrated into smartphones, tablets, and
wearable devices to detect gases such as alcohol, carbon monoxide, carbon
dioxide, nitrogen dioxide, and VOCs.
APAC
to hold the largest share and is expected to witness the highest growth in the
gas sensors market. The major drivers for the rapid growth of the said market
in APAC are the rising investments in sectors such as infrastructure, housing,
and medical care, which are attributed to the growing population and
urbanization in the said region. The strong economic growth and increase in
manufacturing industries, such as automotive, and metals and chemicals, in APAC
are expected to drive the market in this
region.
https://www.marketsandmarkets.com/PressReleases/gas-sensor.asp
The
key players in this market are City Technology Ltd (UK), Dynament (UK),
Alphasense (UK), Amphenol Corporation. (US), Bosch Sensortec GmbH (Germany),
ams AG (Austria), SenseAir AB (Sweden), Figaro Engineering Inc. (Japan),
Membrapor AG (Switzerland), and Sensirion AG (Switzerland), and MSA (US).
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