Gas Sensors Market 2021-2027 skyrocketed revenue with key players Figaro Engineering Inc., Membrapor AG, AlphaSense Inc., Nemoto & Co. Ltd, Robert Bosch GmbH, Amphenol Advanced Sensors

Latest research on Gas Sensors Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2015-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Gas Sensors market. this report included a special section on the Impact of COVID19. Also, Gas Sensors Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Gas Sensors industry.

The gas sensors market was valued at USD 655.5 million in 2020 and expected to reach USD 883.6 million by 2026 and grow at a CAGR of 5.1% over the forecast period (2021 - 2026).

The Gas Sensors market is highly competitive and consists of a number of major players. Top Companies like Figaro Engineering Inc., Membrapor AG, AlphaSense Inc., Nemoto & Co. Ltd, Robert Bosch GmbH, Amphenol Advanced Sensors, AMS AG, Trolex Ltd, ABB Ltd, Siemens AG, City Technology Ltd

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Industry News And Developments:

- January 2019 - Firago Engineering Inc. revealed its new digital TGS8101 IAQ sensor. It is an ultra-compact sensor for gas, relative humidity, and temperature, and is expected to be launched by mid-2019. The gas sensor consists of a metal oxide compound on a micro hot plate, assembled for high operating temperatures, which make it possible to detect VOCs and alcohol gas.

- February 2018 - Underwriters Laboratories released two new smoke alarm and detector standards in its seventh edition (UL 217 and UL 268). The seventh edition of this standard is set to take effect in May 2020. It is focused on minimizing false alarms, also known as nuisance alarms, as well as on detecting different smoke characteristics. Hence, the new smoke detectors may be able to differentiate between smoke coming from burning food or cooking and other non-lethal sources and actual life-threatening smoke.

Scope of the Report

- The major trend driving the gas sensors market is the development of wireless capabilities and miniaturization, coupled with improved communication capabilities that enable their integration into various devices and machines, without compromising the detection of toxic or flammable gases at safe distances.

- Asia-Pacific is one of the fastest-growing regions for the gas sensors market and is projected to be the market leader during the forecast period. Countries, like China, the United States, and Germany, are the major markets for gas sensors.

- The evolving nature of the market is leading to rapid changes and over-crowding of sensors for major gases, like carbon dioxide and carbon monoxide. Rising costs are also an issue in the ever-changing market, characterized by innovations and low product differentiation.

Key Market Trends

Safety and Regulations are a Paramount Driver for Industrial Implementation

- In recent years, several types of gases have been used as raw materials in different areas of industries. It becomes crucial to control and monitor these gases, as there is a considerable risk of damage to property and human lives if a leak occurs. The necessity to continually monitor and control the gases emitted has sprouted the need for gas sensors in the industries.

- The stringent government regulations have mandated the applications of gas sensors, for making the industries safer. This also made industries more confident toward the prevention of accidents related to gas leaks.

- In Northern Ireland, a total of 123 people were admitted to hospital due to suffocation caused by carbon monoxide. In 2012, carbon monoxide alarms became mandatory in all new buildings in Northern Ireland, after several high-profile deaths in the region were caused by deadly household gas leaks.

Asia-Pacific is Expected to be the Fastest Growing Market

- Similar to the global market, Asia-Pacific is the amalgamation of mature and emerging markets. China and India are the fastest developing countries in the world, and the industries in these countries are being set up at a rapid pace.

- The Chinese automotive market has the largest scale in the world. According to OICA and CAAM, around 24 million passenger cars were produced in 2018. With this huge production capacity, China is ranked first in automotive production and is one of the significant drivers for gas sensors market in the region.

- India is the largest provider of the genetic drug, globally. Furthermore, the Indian pharmaceutical sector supplies 50% of the global demand.

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What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Gas Sensors Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2016 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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