Huge Demand from Consumer Electronics Sector to Fuel the Growth of Gas Sensors Market in the Years to Come

Gas sensors are being mainly used across consumer electronics and building automation applications. The growth of the worldwide gas sensors market is also being fueled by the rising concern for environment pollution control through air quality analysis by detection of concertation of harmful gases that are released in environment on a day-to-day basis.

The global gas sensors market is expected to be worth USD 1.01 Billion by 2022, growing at a CAGR of 6.22% during the forecast period from 2016 to 2022.

Based on technology, the laser-based gas detection technology is likely to witness the highest growth over the forecast period. Moreover, it is expected to show high potential in various applications like chemical, building & automation, oil & gas, and power plants to measure critical gases.

Among applications, the oil & gas and medical applications dominate the market currently. However, the consumer electronics application is projected to grow at the highest rate in the coming years. This growth can be attributed to the increased adoption of smartphones and tablets that has led to more research & development of integration of various types of sensors into smartphones, especially the gas sensors that would help in detection of gases for air quality applications.

Geographical growth scenario of the market

Among regions, North America held the largest share of the market in 2015, and will continue its dominance over the market during the forecast period as well. This growth can be contributed to this region being the major application of gas sensors, especially in safety systems for detecting concentration of toxic and harmful gases at oil & gas plants. Moreover, the major companies in the U.S. have been developing advanced techniques in order to extract hydrocarbons from shale gas, which has in turn increased oil & gas production in the country, thereby leading to a rise in demand for gas sensors for monitor and detecting of toxic and harmful gases for employee and oil & gas plant safety. However, the market for gas sensors in Asia-Pacific is projected to grow at the highest CAGR over the coming years, owing to the high demand of automobiles and consumer electronics from countries such as China, India, and South Korea, among others.

Factors driving and restraining the market growth

The growth of the global market for gas sensors is being majorly influenced by the following factors:

  • Rising demand for wireless gas sensors, especially in developing countries such as India and China
  • Increased government safety regulations and policies
  • Growing demand for water & wastewater treatment industries
  • Rising demand for safety systems in the oil & gas industry

Apart from this, rising concept of green buildings and increased demand for gas sensors in smartphones application are expected to create an array of opportunities for the growth of this market.

On the other hand, the growing need to meet stringent performance requirements for advance sensor application is a major challenge being faced by the players in this market. Moreover, technical issues such as decreasing the size, energy consumption, and sensitivity are likely to restrict the growth of the gas sensor market in the coming years.

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Key players and strategies adopted for sustenance in the market

City Technology Ltd (U.K.), Dynament Ltd.(U.K.), Alphasense (U.K.), Amphenol Advanced Sensors (U.S.), Bosch Sensortec GmbH(Germany), ams AG (Austria), Senseair AB (Sweden), FIGARO Engineering Inc. (Japan), MEMBRAPOR AG (Switzerland), Cambridge CMOS sensors (U.K.), Sensirion AG (Switzerland), and MSA (U.S.) are the major companies operating in the global market for gas sensors. Out of these, City Technology (U.S.) was the major player in the global gas sensors market in 2015. New product development was the major strategy adopted by this company in order to expand its presence in the global market. Other than this, mergers & acquisitions, expansions, and contracts, partnerships, & collaborations are the strategies being adopted by other players to cater to the needs of the market and increase their global presence as well.

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