Industrial Gas Sensors Market Analysis | 2021-2026

Market Insights

"The global industrial gas sensors market is projected to grow from USD 961.3 million in 2020 to USD 1,384.2 million by 2026 at a CAGR of around 6.4% during the forecast period."

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What is the gas sensor?

Gas sensors are defined as transducers that convert a non-electrical quantity into an electrical signal. These sensors are used to detect the presence or concentration of gases in the atmosphere. Gas sensors are primarily used to detect toxic or explosive gasses and measure gas concentration. Based on product type, the gas sensors can be categorized as oxygen, carbon dioxide, and others.

Key Players

Key players operating in the Industrial Gas Sensors market are-

• Figaro Engineering Inc. (Japan)
• ABB Ltd (Switzerland)
• Aeroqual (New Zealand)
• Dynament Ltd (UK)
• Eurogas (Belgium)
• Pewatron AG (Switzerland)
• Robert Bosch GmbH (Germany)
• Siemens AG (Germany)
• Cubic Sensor and Instrument Co,Ltd. (China)
• MWC Water Controls (China)
• Monicon Technology (Ireland).

Market Dynamics

The growth of the industrial gas sensors market is primarily driven by:

• Increasing product use in the chemical, oil & gas, and mining industries.
• The rapid growth of the chemical and petrochemical industry to meet the growing demand for chemicals from numerous end-use industries is likely to drive market growth at a significant rate during the review period.
• Increasing demand for advanced gas sensors is likely to create lucrative opportunities for the players operating in the global market in the coming years.

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Segment Analysis

End-Use Industry Trends

"The chemical and petrochemical segment accounted for the largest market share."

The industrial gas sensors market has been bifurcated into the chemical and petrochemical industry, the oil and gas industry, and the metal industry. The chemical and petrochemical segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to the significant growth of the chemical and petrochemical industries in developing countries.

Regional Analysis

"Asia-Pacific accounted for the largest market share."

The market in Asia-Pacific accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to the presence of established end-use industries such as chemical & petrochemical and oil & gas coupled with rising environmental regulations. The market in North America is expected to be driven by rising demand for industrial gas sensors in developing countries with expanding industrialization, particularly in China and India.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].