Press release
Gas Sensors Market worth $1.5 billion by 2026
According to a research report "Gas Sensors Market with COVID-19 Impact Analysis by Gas Type(Oxygen, Carbon Monoxide, Carbon Dioxide, Nitrogen Oxide, Volatile Organic Compounds, Hydrocarbons), Technology, Output Type, Product Type, Application, and Geography - Global Forecast to 2026", published by MarketsandMarkets, the overall gas sensors market is expected to grow from USD 1.1 billion in 2021 to USD 1.5 billion by 2026; it is expected to grow at a CAGR of 7.0% during 2021–2026. Key factors fueling this markets growth include high demand for gas sensors in critical industries, formulation and implementation of various health and safety regulations globally, increasing integration of gas sensors in HVAC systems and air quality monitors, increasing air pollution level and need for air quality monitoring in smart cities, and increased demand for gas sensors in healthcare industry during COVID-19 pandemic. Deployment of IoT, cloud computing, and big data with gas sensors, growing adoption of gas sensors in consumer electronics, and increasing demand for miniaturized wireless gas sensors create a strong demand for gas sensor for efficient industrial operations in the midst of COVID-19.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=245141093
Oxygen gas sensor is expected to gain a significant share of gas sensor market by 2026
The oxygen gas sensor is expected to account for the largest share of the gas sensor market by 2026 as oxygen detectors, analyzers, and monitors are widely used in the automotive industry, smart cities & building automation, food & beverage industry, and other industrial applications. Medical equipment is another application area of oxygen sensors as they are used in incubators and other hypoxic life science products, anesthesia monitors, respirators, and oxygen concentrators.
Based on application, Smart cities & building automation to witness the highest CAGR in Gas sensor market during 2021–2026
The gas sensor market for the smart cities & building automation application is expected to grow with the highest CAGR during the forecast period. The rising environmental pollution levels and increasingly degrading indoor air quality have created a significant demand for gas sensors for HVAC and air quality monitoring applications. In smart cities, gas sensors can be used for environmental monitoring applications to monitor air quality, which includes weather stations and monitoring of the environment at public places. Major gases that are monitored include CO, CO2, SO2, NO, NO2, and VOCs. Increasing projects of smart cities in developing countries are expected to drive the growth of the market.
Gas sensor market in APAC to grow at the highest CAGR during the forecast period
The gas sensor market for the smart cities & building automation application is expected to grow with the highest CAGR during the forecast period. The rising environmental pollution levels and increasingly degrading indoor air quality have created a significant demand for gas sensors for HVAC and air quality monitoring applications. In smart cities, gas sensors can be used for environmental monitoring applications to monitor air quality, which includes weather stations and monitoring of the environment at public places. Major gases that are monitored include CO, CO2, SO2, NO, NO2, and VOCs. Increasing projects of smart cities in developing countries are expected to drive the growth of the market.
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Key players in the market include Honeywell Analytics (UK), MSA Safety Inc. (US), Amphenol (US), Figaro Engineering (Japan), Alphasense Ltd.(UK), Sensirion AG (Switzerland), Dynament Ltd. (UK), ams AG (Austria), MEMBRAPOR AG (Switzerland), and Senseair AB (Sweden). These players are increasingly undertaking product launches and developments, acquisitions, partnerships, and expansions, to increase their market shares.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
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.
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