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The APAC Region is the Leader of the Gas Sensor Market

10-09-2023 08:17 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: P&S Intelligence

The gas sensor market will touch USD 4,005.8 million by 2030 from an estimated value of USD 2,087.2 million in 2023, at a compound annual growth rate of 9.8% by the end of this decade.

The key factor powering the industry is the miniaturization of these devices, integration of wireless connectivity, and improvement in communication technologies, allowing them to sense toxic gases from a safe distance. Numerous detectors are used to incessantly control and screen the release of the gas at numerous places, from homes to facilities.

Another major industrial driver is the growing burden of breathing ailments as a result of air pollution. The World Health Organization estimates the count of yearly premature deaths because of air pollution at over 7 million, including those from outdoor as well as indoor emissions.

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Key outdoor sources of GHG emissions are industrial exhaust, automobiles, and generators, while the ones found indoors include furniture with VOC-laden coatings, cooking, and HVAC-R appliances that makes the use of refrigerant.

The CO2 sensors category is the leader of the industry. These instruments are extensively used for screening the quality of air in office buildings, houses, healthcare settings, and other uses, as well as tracking emissions in industrial and automotive applications.

More than a few businesses are developing MEMS-based CO2 sensors for more than a few applications. For instance, in Jan 2021, TDK Corporation introduced TCE-11101, a small, low-power MEMS gas detector platform for the direct and accurate monitoring of CO2 in-house, healthcare, automotive and other applications.

The wired category is the higher revenue contributor, as wired gas detectors provide a higher precision, low cost, low maintenance, and compact size. In several conditions, wired detectors are more dependable as they directly connect the sensor to the device, which is receiving the input.

The main uses where wired sensors are prized are mines, nuclear power plants, and oil rigs.

Furthermore, the rising acceptance of wired gas detectors in housing uses is attributed for the development of the category.

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https://www.psmarketresearch.com/market-analysis/gas-sensors-market

APAC gas sensor market is leading the industry, powered by the growing knowledge with regards to air pollution's effects on the wellbeing, fast growth, and increasing spending on smart city projects.

Additionally, the increasing use of gas sensors in vehicles powers the industry. India has a robust automotive sector, and according to the OICA, in 2022, 54,56,857 automobiles were manufactured in the nation, therefore reflecting a massive requirement for GHG sensors.

The miniaturization of the gas sensors has a positive impact on the demand for these devices. This trend will continue in the years to come as well.

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About P&S Intelligence

P&S Intelligence is a market research and consulting firm shaping growth strategies for enterprises with a global as well as niche presence. We specialize in both syndicate and custom market research, creating insight-laden reports that allow customers to stay ahead at every curve. Our clients range from multi-billion-dollar behemoths across industries to up and coming MSMEs and startups. Moreover, with our new offering, government, and public sector advisory services, we continue to trudge ahead in our quest for revolutionizing the way economies shape themselves in these ever-changing times.

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