Gas Sensors Market Size, Share, Trends, 2022 Key Players Analysis, Segmentation, Industry Size, Growth, Trend and Forecast by 2031

Kenneth Research, in its repository of market research reports, has recently added a report on Gas Sensors Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The 3D Scanner Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Gas Sensors Market products.

On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017. Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.

Kenneth Research has published a detailed report on Gas Sensors Market, which has been categorized by market size as well as growth indicators, and further encompasses detailed market analysis on macro trends and region-wise growth in North America, Latin America, Europe, Asia-Pacific and Middle East & Africa region. The report also includes the challenges that are affecting the growth of the industry and offers strategic evaluation that is required to boost the growth of the market over the period of 2021-2025.

The Global Gas Sensors Market was valued at USD 821.02 million in 2016 and is projected to reach USD 1498.02 million by 2025, growing at a CAGR of 6.91% from 2017 to 2025.

Gas Sensor is a device that detects the presence of gases in an area. Gas Sensor is used to detect combustible, flammable and toxic gases, oxygen depletion and can interface with a control system so a process can be automatically shut down. There are several benefits of Gas Sensor including – excellent repeatability and accuracy, does not get poisoned by other gases, less expensive, high performance, reliable, and small/low profile.

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Sample Infographics:

Market Dynamics:
1. Market Drivers
1.1 Growing adoption of gas sensors in consumer electronics application
1.2 Increasing safety regulations by government
1.3 Rising demand for IoT applications
1.4 Improved awareness of air quality control among use
1.5 Increasing adoption of MEMs-based sensors
2. Market Restraints
2.1 Costly implementation
2.2 Issues related to sensitivity, energy consumption, and stability

Market Segmentation:
The Global Gas Sensors Market is segmented on the technology, gas type, vertical, and region.

1. Technology:
1.1 Holographic
1.2 Catalytic
1.3 Infrared
1.4 Zirconia
1.5 Electrochemical
1.6 Photoionization Detectors
1.7 Solid State/Metal Oxide Semiconductor
1.8 Laser

2. By Gas Type:
2.1 Methane
2.2 Ammonia
2.3 Chlorine
2.4 Hydrogen
2.5 Hydrocarbons
2.6 Oxygen
2.7 Carbon Monoxide
2.8 Carbon Dioxide
2.9 Hydrogen Sulfide
2.10 Nitrogen Oxides
2.11 Volatile Organic Compounds

3. By Vertical:
3.1 Power Stations
3.2 Environmental Monitoring
3.3 Automotive & Transportation
3.4 Food & Beverages
3.5 Mining
3.6 Water & Wastewater Treatment
3.7 Medical
3.8 Oil & Gas
3.9 Metals & Chemicals
3.10 Consumer Electronics

4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa

Competitive Landscape:
The major players in the market are as follows:
1. Figaro Engineering Inc.
3. Dynament
4. City Technology Ltd
5. Amphenol Corporation.
6. MSA
7. Sensirion AG.
8. Membrapor AG.
9. Alphasense

These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

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