Press release
Gas Sensors Market is expected to grow at a CAGR of 5.7% by 2018
Gas sensors are devices that detect the concentration of gas and convert it into an electrical signal. Varieties of gas sensing technologies are used for this purpose. Some of the major technologies used include electrochemical gas sensing, semiconductor gas sensing, PID (photoionization detector) gas sensing, catalytic gas sensing, infrared gas sensing, solid state gas sensing and others. Gas sensors based on electrochemical and semiconductor gas sensing technologies are the most popular and are commonly used for detecting toxic and combustible gases.
The global market for gas sensors was valued at USD 1,664.8 million in 2012 and is expected to grow at a CAGR of 5.7% during the forecast period from 2012 to 2018 and reach USD 2,328.3 million by 2018. Strengthening government regulations for safety at workplace and emission control are primarily driving the market for gas sensors.
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Low cost and high efficiency of electrochemical and semiconductor gas sensors are responsible for driving the demand for these types of gas sensors. They together, accounted for a share of over 35% of the total gas sensors market in 2012. Gas sensors based on electrochemical technology cost around USD 40 per unit. Gas sensors based on semiconductor technology cost only USD 2 to 5 per unit. Infrared technology based gas sensors are the most expensive and cost around five times that of electrochemical technology based gas sensors (around USD 200 to USD 250).
Infrared gas sensors, also known as precision gas sensors are generally preferred for high-end industrial applications where high level of specificity and accuracy is required. Sensors based on PID gas sensing technology are preferred for detection of volatile organic compounds. Catalytic sensors are extensively used for detecting combustible gases such as methane, hydrogen, butane and others.
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Some of the major end-user industries utilizing gas sensors include medical, building automation, domestic appliance, environmental applications, petrochemical industry, automotive industry, industrial applications and others. Industrial sector comprises manufacturing and process industries. It is the largest end use industry for gas sensors in terms of revenue generation. Growing concerns towards occupational safety and government mandates for emission control are primarily driving the demand for gas sensors.
Automotive industry is another important contributor to the global gas sensors market. The need for better comfort and safety in automotives has led to incorporation of different types of gas sensors in automobiles for cabin air quality, monitoring fuel emission, and others. Asia Pacific is the largest automotive market globally, and rising use of gas sensors in automobiles for different applications has significantly contributed to the share of Asia Pacific in the global gas sensors market. Presently, the global gas sensor market is dominated by Europe; however, Asia Pacific is expected to surpass Europe and become the leading regional market for gas sensors globally, by 2015.
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City Technology, owned by Honeywell is currently leading the global gas sensors market with a share of around 28% followed by Alphasense with around 15% share in 2012. Other important players engaged in gas sensors manufacturing include Membrapor, Dynament, Figaro Engineering, Draeger, Robert Bosch, and others.
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