Market Leader - Gas Sensor Market
The gas sensor market is projected to grow from USD 1.4 Billion in 2022 to USD 2.1 Billion by 2027; it is expected to grow at a CAGR of 8.9% during the forecast period. Rising demand for gas sensors in critical industries, formulation and implementation of various health and safety regulations globally, and growing air pollution levels and need for air quality monitoring in smart cities are factors expected to boost the growth of the gas sensor market in the next five years. However, intense pricing pressure resulting in decline in average selling prices with the gas sensor market and the technical issues such as high energy consumption are projected to be the key challenges and restraining factors for the industry players.
Key players operating in the market include Honeywell Analytics (UK), Amphenol (US), Figaro Engineering (Japan), Alphasense Ltd. (UK), Sensirion AG (Switzerland), Dynament Ltd. (UK), ams AG (Austria), MEMBRAPOR AG (Switzerland), and Senseair AB (Sweden), among others. Major strategies adopted by top players to enhance their product portfolios, increase their market share, and expand their presence in the market mainly include new product launches and deals, such as acquisitions and partnerships.
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Honeywell Analytics is carrying out constant product developments and expanding its reach to strengthen its position in the gas sensor market. It is also focusing on producing gas sensing products to cater to the demand of automotive and industrial, medical, and residential applications. Gas detection was envisaged by Honeywell Analytics as a strategic adjacency to its life safety business. A few of its acquisitions include BW Technologies (Canada), RAE Systems (US), and City Technology (UK). The company offers industrial fire and gas systems, portable gas detection systems, flame, and centralized gas monitoring systems, and systems used in commercial building environments. The company is primarily involved in R&D for product innovation and invention, for which it has tied up with several universities. In July 2020, Honeywell Analytics’ City Technology launched a 1series of analog gas sensors that enable slim profile gas detector design.
Figaro specializes in the research, development, manufacturing, and marketing of gas sensors and gas detection equipment. The company focuses on safety, security, and comfort using its unique gas sensing technology. It claims to be the first company in the world to develop and commercialize semiconductor gas sensors. Major applications of Figaro’s offerings are in the fields of gas detection, air quality control, HVAC, and automotive. Figaro has developed an in-house automated production line that helps in the faster manufacturing of sensors without compromising quality and adjusting to varying consumer demands. It has a production capacity of about 2 million sensors per month. It offers a wide range of gas sensor products used for the detection of various gases, such as carbon dioxide, propane, carbon monoxide, and volatile organic compounds (VOCs). Its sensors are mainly of a metal oxide semiconductor (MOS)-type, catalytic-type, electrochemical-type, and NDIR-type. Figaro’s offerings largely find applications in the fields of gas detection, air quality control, HVAC, and automotive. The company can produce 2 million sensors per month. Also, it has more than 40 overseas patents.
Related Reports:
Gas Sensor Market by Gas Type (Oxygen, Carbon Monoxide, Carbon Dioxide, Nitrogen Oxide, Volatile Organic Compounds, Hydrocarbons), Technology, Output Type, Product Type, Application and Region - Global Forecast to 2027
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