Gas Sensor Market worth $3,137.4 million by 2032 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Jan. 8, 2025 /PRNewswire/ -- The gas sensor market is expected to reach USD 3,137.4 million by 2032, up from USD 1,621.9 million in 2024, at a CAGR of 8.6% from 2024 to 2032 according to a new report by MarketsandMarkets^™. The gas sensor market is experiencing significant growth mainly due to a rising demand for autonomous vehicles that has led to increased demand for gas sensors to monitor cabin air quality, and ensure passenger safety in enclosed vehicle systems. Oil & gas, chemicals, mining, and power industries use gas sensors to detect hazardous gases, ensure safety, and monitor emissions to prevent accidents and comply with environmental standards. In addition, health and safety regulations around the world, such as OSHA and EU directives, are forcing the adoption of gas sensors to ensure workplace safety, monitor emissions, and meet regulatory compliance.

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Browse in-depth TOC on "Gas Sensor Market"
238 – Tables
66 – Figures
300 – Pages

Gas Sensor Market Report Scope:

Gas detector to register the largest market share in product segment during the forecast period.

Gas detectors account for largest market share within the gas sensor market, due to their critical role in ensuring safety and operational efficiency across various industries. With growing importance on regulations on workplace safety, especially among the oil and gas, manufacturing, and chemicals industries, this market has seen a significant growth. Gas detectors can continuously check the presence of hazardous gases like carbon monoxide, methane, and hydrogen sulfide and are very vital in accident prevention and safe working. Other advanced technologies, like wireless connectivity and loT-enabled systems, have added functionalities and helped increase adoption for gas detectors. With methane and carbon dioxide being the leading contributors to climate change, industries are being increasingly pressed upon to adopt technologies that fall in line with global sustainability goals and regulatory frameworks.

Wireless connectivity segment to witness highest CAGR during the forecast period.

The wireless segment of the gas sensor market is expected to grow at the highest CAGR on account of growing flexibility, ease of installation, and remote monitoring demands across different applications. With rising Internet of Things (IoT) and smart technologies adoption, there is a growing interest in wireless gas sensors due to seamless integration with digital networks and smart systems. These sensors can transmit information wirelessly to centralized systems in the absence of complex wiring setup. It enables real-time monitoring and analysis. This feature is beneficial in industries such as smart buildings, where ease of deployment and remote access to data are key advantages. The growing concern for operational efficiency and safety in industrial applications is also boosting the growth of wireless gas sensors. They facilitate predictive maintenance, early detection of gas leaks, and remote monitoring. With their capability to connect to cloud-based platforms, the wireless sensors have the added advantages of increased data analytics, scalability, and cost efficiency. As these technologies continue to grow, the wireless segment is likely to grow rapidly, particularly in sectors focused on automation, energy efficiency, and sustainability, which will lead to the highest CAGR in the gas sensor industry.

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North America to account for second largest market share during forecast period.

North America held the second largest share of the market in 2023. Several initiatives undertaken by governments of different countries in the region to curb pollution and increase the adoption of HVAC systems are one of the key factors fueling the growth of the market in North America. The US is the leading country-level market in the North American gas sensor market. The reason for the dominance of the US in North America is its well-established economy, which allows the rapid adoption of gas sensors in various applications and North America is home to leading technology developers and manufacturers.

The major players in the gas sensor companies include Honeywell International Inc. (US), MSA (US), Amphenol Corporation (US), Figaro Engineering Inc. (Japan), Alphasense Inc. (UK), Sensirion AG (Switzerland), Process Sensing Technologies (UK), ams-OSRAM AG (Austria), Membrapor (Switzerland), Senseair (US), Nissha Co., Ltd. (Japan), Fuji Electric Co., Ltd. (Japan), Renesas Electronics Corporation (Japan), Danfoss (Denmark), Gasera (Finland), and Infineon Technologies AG (Germany). These players have adopted various organic and inorganic growth strategies such as product launches, expansions, partnerships, collaborations, acquisitions, contracts, and agreements.

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