Key Market Dynamics in Gas Sensors

Posted October 18, 2019 by stevestark002

Gas Sensors Market by Gas Type (Oxygen, Carbon Monoxide, Carbon Dioxide, Ammonia, Chlorine, Hydrogen Sulfide, Nitrogen Oxide, Volatile organic Compounds, Hydrocarbons), Technology, End-Use Application, Geography - Global Forecast 2023
The gas sensor market was valued at USD 812.3 million in 2016 and is expected to reach USD 1,297.6 million by 2023, at a CAGR of 6.83% between 2017 and 2023.

The base year considered for the study is 2016, and the forecast period provided is between 2017 and 2023. The objective of the report is to provide a detailed analysis of the market based on gas type, technology, end-use application, and geography; information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges); and a detailed value chain analysis. Moreover, the objective of this report is to strategically profile the key players and competitive landscape for market players, and provide information on product launches, acquisitions, partnerships, agreements, and collaborations in the gas sensors market.

Some major players offering gas sensors for various end-use application are: Amphenol Corporation. (US) serves a number of end-use applications such as aerospace, automotive and transportation, and medical. Another major player City Technology Ltd (UK) serves applications such as safety, automotive, medical, and residential safety.

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Increasing enforcement of occupational health and safety regulations by governments

Increasing implementation of rules and regulations by government bodies to ensure occupational health and safety of employees is the main driving force spurring the growth of the gas sensors market. Safety regulations are an important part of any industry, especially for industries that are more susceptible to accidents such as oil & gas, chemicals, and building and construction. Gas sensors play an important role in the detection of hazardous gases and thus prevent accidents caused by its leakage. For instance, in 2015, a massive methane gas leakage was witnessed in Los Angeles (US). This was one of the worst accidents in the US history; the methane gas spewed out in the atmosphere. The leakage was measured at 97,100 metric tons. After this accident, the US Environmental Protection Agency (EPA) imposed stringent regulations for methane emission monitoring in oil & gas operations. This regulation requires monitoring of oil & gas operations in both upstream and midstream plants to detect the fugitive emission of methane gas. The new requirement also requires robust detectors and monitoring systems to be deployed in the plant to ensure no leakage or emission takes place. In November 2016, the Interior’s Bureau of Land Management announced that state aims to reduce the emissions of methane gas by 40–45% by the end of 2025.

Technical issues related to sensitivity, energy consumption, and stability

The global gas sensors market is growing, but there are some technical hitches that are yet to be addressed. These hitches include high power consumption (with respect to applications for smartphones and tablets), high manufacturing cost, and deficiency in selectivity and complex fabrication processes are a few of them. Although, there are many technologies present in the market to manufacture gas sensors none provide all the required features. For instance, devices built on metal oxide semiconductor technology consume more power than an electrochemical technology-based device, whereas devices built with the combination of metal oxide semiconductor and silicon-based micromechanical free standing hot plates (silicon hotplate) technology results in minimum power loss. Other issues are operating conditions, e.g., gas sensors built with current technologies cannot maintain a high level of selectivity in the intense humid environment. Also, the sensitivity of the catalytic bead technology-based sensor is very high toward airborne contaminants, but excess exposure can lead to sensor malfunctioning. These are a few of the restraining factors hampering the growth of the global gas sensors market.

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Issued By Chandrakant
Phone 8886006441
Business Address 630 Dundee Road
Suite 430
Country United States
Categories Semiconductors
Tags gas sensors market
Last Updated October 18, 2019