The gas sensor market is projected to grow from USD 1.5 billion in 2023 and is expected to reach USD 2.3 billion by 2028, growing at a CAGR of 9.7% from 2023 to 2028. The increasing demand for gas sensors in critical industries such as oil & gas, chemical, mining, and power, which use gas sensors to detect and monitor the presence of combustible and toxic gases, are adding to the growth of the gas sensor market.
Major Gas Sensors companies include:
New product launches, collaborations, and acquisitions were the key strategies adopted by the players in the gas sensor market ecosystem to enhance their product portfolios, increase their market share, and expand their presence in the gas sensor market.
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For instance, in August 2023, Figaro Engineering Inc. (Japan) announced the launch of the low power consumption MEMS type methane sensor [TGS8410] with high sensitivity and selectivity to for methane and long life. It is used as portable compact methane gas detectors.
In November 2023, Process Sensing Technologies (UK) announced the acquisition of Fluid Components International (“FCI”). This strategic acquisition allows the company to expand its product range and measurement capabilities, leveraging FCI’s strong reputation for performance, quality, and its customer service. It marks PST’s entry into the flow meters sector, which is highly complementary to PST’s existing capabilities.
Honeywell International Inc. is a publicly traded American multinational conglomerate corporation headquartered in Charlotte, North Carolina. It primarily operates in four areas of business: aerospace, Honeywell building technologies, performance materials and technologies, and safety and productivity solutions. Honeywell's aerospace business provides aircraft engines, avionics, and other products and services worldwide to commercial and military customers. The company's building technologies business provides heating, ventilation, and air conditioning (HVAC) systems, controls, and other products for commercial and residential buildings. Honeywell's performance materials and technologies business provides specialty chemicals, polymers, and other materials used in a variety of industries, including automotive, electronics, and construction. Honeywell's safety and productivity solutions business provides a wide range of products and services to help businesses improve safety, productivity, and efficiency. The company is one of the leading providers of gas sensors for a wide range of applications, including industrial safety, environmental monitoring, and healthcare. The company's gas sensors are used to detect a variety of gases, including combustible gases, toxic gases, and oxygen.
MSA Safety Incorporated is one of the global leaders that manufactures integrated products by combining electronics, mechanical systems, and advanced materials to protect users against hazardous or life-threatening situations. The company has a wide geographic reach with operations in North America, Europe, the Middle East, Africa, Asia Pacific, and Latin America. The company offers fixed gas detectors, portable gas detectors, fire & gas systems, controllers, area monitoring devices, multi-gas detectors, gas leak detectors, and gas monitors. It also provides combined or multi-gas sensors that are used in products including fixed gas and flame detection systems, portable gas detection instruments, industrial head protection products, firefighter helmets, protective apparel, and fall protection devices. Also, MSA provides products ranging from respirators and thermal imagers to gas detection and fire & rescue helmets. The company’s solutions are used in a wide range of applications in oil & gas, petrochemical, fire service, construction, industrial manufacturing, utilities, mining, and military.
Gas Sensors Market by Type (Oxygen, Carbon Monoxide, Carbon Dioxide, Nitrogen Oxide, Volatile Organic Compounds, Hydrocarbons), Output Type (Analog, Digital), Technology, Product, Connectivity, Application & Region - Global Forecast to 2028
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