The Gas Sensors Market is being driven by Increase in LNG trade
The Gas Sensors Market is expected to grow at a CAGR of 11% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 975.9 million. In the Gas Sensors Market, key players are strategically expanding their product portfolios through new product launches to increase market penetration and capture larger shares. This market comprises both multinational and local entities. New product introductions enable companies to enhance their offerings and cater to diverse end-user requirements. For example, Alphasense unveiled the H-Series sensor in June 2023, a compact format for portable devices, and Flyability launched a new flammable gas sensor for the Elios 3 drone in October 2024, offering real-time combustible gas warnings for improved safety in hazardous settings.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
231 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11% |
Market growth 2025-2029 |
USD 975.9 million |
Market structure |
market_structure.ucfirst |
YoY growth 2024-2025(%) |
10.4 |
Key countries |
US, China, Japan, India, Germany, UK, France, Canada, South Korea, and Brazil |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Gas Sensor Market encompasses sensors designed for detecting toxic gases in various industries, including the industrial, chemical, oil & gas, power, and mining sectors. Miniaturization and wireless capabilities are key trends, enabling communication through technologies like IoT networks for remote monitoring. Toxic gases from industrial processes, harmful emissions, and combustible gases (methane, LPG, LNG) are primary concerns. Leading players launch new products to meet international standards, while wired and wireless gas sensors (electrochemical, infrared) ensure industrial safety and air quality. Applications span from automotive manufacturing and healthcare to smart cities and building automation, addressing pollution concerns in the industrial, petrochemicals, and mining segments. Government regulations drive market growth, with gas analyzers and replacement sensors essential for industrial safety and environmental monitoring.
The global electronics market encompasses manufacturers of communications equipment, technology hardware and storage, electronic instruments, and electronic components. Within this segment, the electronic components sector is experiencing significant growth, driven by the increasing demand for Internet of Things (IoT) devices. Gas sensors, miniaturized and equipped with wireless capabilities and advanced communication technologies, are a key component of this trend. These sensors are integral to the detection and monitoring of toxic gases, harmful emissions, and combustible gases in various industries, including the chemical, industrial processes, oil & gas, power, and automotive sectors. Government regulations mandating safety and emissions standards further fuel market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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