Industry Insights
Improved manufacturing capabilities and embedded electronics have driven product development and
innovation measures in the global gas sensors market. Since they prove highly efficient in case of gas
leakage, gas sensors have been witnessing growing demand over the past few years. Growing
occupational health and safety concerns, along with need for workplace security is the key driving force
for the market. The global gas sensors market was valued at USD 1.7 billion in 2012 and is expected to
grow at a CAGR of just over 5.0% over the forecast period. These products are widely used in
manufacturing and process industries, which involve the presence of combustible and toxic gases such
as nitrogen dioxide and hydrogen sulfide.
Product Insights
Gas sensors are used to measure the concentration of gases such as carbon monoxide, oxygen, carbon
dioxide, NOx, etc. Oxygen sensors witness high proliferation in the automotive industry for monitoring
concentration in the exhaust of the vehicle. Increasing vehicle production is among the key factors
favorable for product demand over the next six years. Stringent regulatory initiatives for curbing exhaust
emission levels are expected to contribute to NOx sensors demand over the next six years. These also
cost higher than their counterparts; as a result, they are expected to contribute to gas sensors market
revenue generation through the forecast period.
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Technology Insights
Electrochemical technology is expected to remain the dominant segment over the next six years. These
products are cost effective and reliable; in addition, electrochemical sensors can detect a large number of
gases. Infrared technology is expected to exhibit high growth over the forecast period. It helps increase
the life span of the product and aids in measuring volatile organic compounds...