Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- The global market for gas sensors was valued at USD 1,664.8 million in 2012 and is expected to grow at a CAGR of 5.7% during the forecast period from 2012 to 2018 and reach USD 2,328.3 million by 2018. Strengthening government regulations for safety at workplace and emission control are primarily driving the market for gas sensors. Gas sensors are used for detecting concentration of different combustible and toxic gases and are witnessing increased demand from industrial, petrochemical and automotive sectors. Gas sensors in industrial applications are used for detecting gas leaks and monitoring indoor/outdoor air quality. It helps in detecting the presence of toxic and combustible gases and thus prevents mishaps.
Browse the full report at http://www.transparencymarketresearch.com/gas-sensors-market.html
The report identifies the key trends that will define the future growth trajectory of the global gas sensors market. The use of wireless gas sensors in various applications is heavily influencing the way products are designed in this market. Wireless gas sensors are suited in hazardous or extreme applications as they can remotely transmit data to a computer or smartphone. Moreover, smart gas sensors that can be integrated with different devices or can analyze data are catching on in the market. Although gas sensors have traditionally been widely used in the oil and gas and manufacturing industries, their use is now also being observed in the automotive industry. This trend is underscored by the fact that automotive companies are having to comply with increasingly stringent safety mandates.
Gas sensors identify and measure the presence of gases such as oxygen, nitrogen oxide, carbon monoxide, and carbon dioxide. However, TMR's analysts state that the demand for CO2 sensors could witness a downslide because of a dip in CO2 emissions in the recent past. Speaking of areas within the gas sensors market where companies should focus, a TMR analyst said, "The demand trends clearly point toward more compact and low-energy-consuming sensors that offer versatility. Hybrid vehicles that make use of hydrogen as a source of clean energy also demand a particular variety of gas sensors - an opportunity that can be harnessed by existing players."
Get the Sample Research Report:
The report segments the global gas sensors market on the basis of gas sensing technology into: Electrochemical, photoionization detectors (PID), semiconductor, metal oxide semiconductor/solid-state semiconductor, infrared (IR), catalytic, and others. Consumers across the world prefer using gas sensors that are based on semiconductor and electrochemical technologies as they provide a very desirable combination of accuracy and cost effectiveness in detecting combustible or toxic gases.
By type of product, the gas sensors market has been segregated as: Oxygen sensors (O2 sensors), carbon monoxide sensors (CO), carbon dioxide sensors (CO2), nitrogen oxide (NO2), and sensors for other gases. The end-use industries for gas sensors studied in this report include: Pharmaceutical, medical, industrial, automotive, building automation and domestic appliances, and others. The process and manufacturing industries currently contribute the highest revenue to the global gas sensors market. The automotive industry is exhibiting a progressively greater demand for gas sensors, especially as several hybrid vehicles now make use of hydrogen as a clean fuel.
The report studies the gas sensors market in the following regions: North America, Europe, Asia Pacific, and Rest of the World. In 2015, Asia Pacific will supersede Europe as the leading regional market for gas sensors in the world. City Technology (a Honeywell-owned company) was the undisputed leader in the global gas sensors market in 2012 with a share of 28%; following at a distant second spot was Alphasense which staked claim to around 15% of the market in the same year. Other companies such as Membrapor AG, Figaro Engineering Inc., Dynament Ltd, Aeroqual Ltd., Nemoto & Co., Ltd, ABB Ltd., and Siemens AG are profiled in the study.
Gas Sensors Market Size and Forecast, By Technology
- Electrochemical gas sensing technology
- Semiconductor gas sensing technology
- Solid-state /metal oxide semiconductor (MOS) gas sensing technology
- PID (Photoionization detectors) gas sensing technology
- Catalytic gas sensing technology
- Infrared (IR) gas sensing technology
Other (paramagnetic, thermal conductivity, and so on) gas sensing technology
Gas Sensors Market Size and Forecast, By Product
- Oxygen (O2)/Lambda sensors
- Carbon dioxide (CO2) sensors
- Carbon monoxide (CO) sensors
- Nitrogen oxide (NOx) sensors
Other (CH4, NH3, hydrocarbons, and so on) gas sensors
Gas Sensors Market Size and Forecast, By End Use Industry
- Medical gas sensors
- Petrochemical gas sensors
- Automotive gas sensors
- Industrial (industrial leak detection and process control) gas sensors
- Building automation and domestic appliances gas sensors
Other (R&D laboratories, educational institutes, and so on) gas sensors
- North America
- Asia Pacific
Rest of the World
Other Related Reports :
- Silicon Magnetic Sensors Market:
- Magnetic Field Sensors Market:
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
CONTACT: Mr. Atil Chaudhari State Tower, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free: 866-552-3453 Email: firstname.lastname@example.org Website: http://www.transparencymarketresearch.com Blog: http://www.tmrblog.com/
Source:Transparency Market Research