Gas Sensors Market - Forecasts from 2018 to 2023
Gas sensor market is expected to grow at a compound annual growth rate of 5.99% over the forecast period to reach US$2,340.188 million by 2023, from estimated value of US$1,651.126 million in 2017. The gas sensor is basically used for safety purposes to detect toxic or combustible gasses such as Carbon Monoxide (CO) both in residential and industrial locations. These sensors detect the concentration of harmful gasses and aid in preventing poisoning in industrial environments. Technology innovation, primarily due to enhanced manufacturing processes and embedded electronics coupled with occupational safety and health regulation is expected to drive the Gas Sensor market. Furthermore, development of wireless sensors coupled with increasing awareness regarding the air quality will further add to the growing demand for these sensors over the forecast period.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the value chain of the gas sensor market. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are Nissha FIS, Inc., TDK-Micronas GmbH, Alphasense, Dynament, and Amphenol Advanced Sensors among others.
The gas sensor market has been analyzed through following segments:
By End User
Middle East and Africa
United Arab Emirates