COVID-19 Impact on Gas Sensors Market

[65 Pages Report] The global gas sensors market size during this pandemic is projected to decline from USD 1,025 million in 2020 to USD 1,016 million by 2021, at a Compound Annual Growth Rate (CAGR) of -0.9% during the forecast period. The major factors governing the gas sensors industry include the growing  manufacturing of ventilators, respirators, and other medical device/equipment necessary in critical care of patients, as well as the constrained growth in sectors such as automotive, oil & gas and chemicals, building & construction, and others.

Based on technology, the electrochemical segment is projected to lead the gas sensors market during the forecast period.

Based on technology, the electrochemical gas sensing technology segment is expected to lead the gas sensors market during the forecast period. Electrochemical gas sensors measure the concentration of a target gas by oxidizing or reducing the target gas at an electrode and measuring the resulting current. These sensors use less power and are less affected by changes in temperature and pressure than others. These sensors are interference-resistant and are used to detect gases such as O2, CO, H2S, ammonia, and others. They are used in industries such as automotive and healthcare.

 Gas sensors market in medical & healthcare segment projected to register highest CAGR during the forecast period

Based on end-use industry, the medical & healthcare segment is expected to register the highest CAGR between 2020 and 2021. The use of gas sensors is increasing due to their versatility, necessity in the detection of harmful gases, and for the proper functioning of establishments. In the medical & healthcare sector, gas sensors are used in the manufacturing of critical care equipment such as ventilators, oxygen concentrators, and other patient care systems. Increasing demand for these types of equipment during this crisis period is the major driving factor for gas sensors in the industry.

APAC is projected to be the largest gas sensors market during the projected period.

APAC is expected to be the largest gas sensors industry during the forecast period. This growth is attributed primarily to the large medical device manufacturing base and increased construction of care institutions such as hospitals, care homes, and others in the region. Also, APAC has immense growth potential driven by the increasing demand for a better healthcare system. Across these economies, local governments are reforming regulations in IT integration, advanced materials & devices, and others in the healthcare industry to increase the efficiency and efficacy of medical devices and related healthcare services in this crisis period.

Honeywell Analytics (US), MSA Safety (US), Amphenol (US), Figaro (Japan), Alphasense (UK), Sensirion AG (Switzerland), and AKM (Japan) are some of the leading players operating in the gas sensors market. They have adopted short, mid, and long term growth strategies such as donations, increased production, supply chain remodeling, new product development, and others to serve their customers efficiently and improve their future market shares.

Scope of the Report

This research report categorizes the gas sensors market based on technology, end-use industry, and region.

By Technology:

• Electrochemical
• Photoionization Detection (PID)
• Metal oxide semiconductor (MOS)
• Catalytic
• Infrared
• Laser
• Zirconia
• Holographic
• Others (paramagnetic, flame ionization detection (FID), chemiluminescence, carbon nanotubes, polymers, and ultraviolet)

By End-use Industry:

• Automotive & Transportation
• Building & Construction
• Oil & Gas and Chemicals
• Medical & Healthcare
• Water Treatment
• Food & Beverage
• Others (consumer electronics, mining, and metal processing)

By Region:

• APAC
• Europe
• North America
• Rest of the World

Recent Developments

• In March 2020, Honeywell announced adding manufacturing capabilities to its existing aerospace site to produce 20 million N95 masks in support of the US government’s response to COVID-19. This development is expected to help the company in maintaining long term strategic relations with local government and also aid in revenue generation in a post-pandemic world.  
• In March 2020, Sensirion introduced a new flow sensor SFM3019 to the market. This development is expected to meet the high demand from ventilator manufacturers. The sensor has been optimized for respiratory applications and allows for easy integration and very high scalability. It is projected to boost revenue growth while gaining more trust from the end users.  
• In March 2020, ZOLL Medical Corporation, an Asahi Kasei Group company which manufactures medical devices and related software solutions, had taken aggressive steps to increase manufacturing capacity to 10,000 ventilators per month in response to the COVID-19 pandemic. This development represented nearly a 25-fold expansion from recent production volumes.
• In April 2020, MSA Safety donated 65,000 N95 masks to the Pittsburgh Medical Community to help medical workers active in the area. The company also announced that it would continue to produce advanced air-purifying respirators, such as elastomeric half-mask, full-facepiece respirators, and powered air-purifying respirators (PAPRs). This development is expected to help the company in maintaining mid to long term relations with customers, which will prove to be a driving factor in the post-pandemic world.

Critical questions the report answers:

• What are the upcoming trends for the gas sensors market during this period?
• How are the market dynamics for different technologies of gas sensors during this period?
• What are the significant trends in end-use industries which are influencing the gas sensors market during this period?
• What are the factors governing the gas sensors market in each region during this period?
• What are the strategies followed by various companies during this period?

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