Gas Sensors Market Market Revenue, Region & Country Share, Trends, Growth Analysis Till 2027 – IndustryARC
The market for Gas Sensor is Forecast to Reach $1.2 Billion by 2026, Growing at a CAGR of 5.5% From 2021 to 2026
HYDERABAD, TELANGANA, INDIA, September 22, 2022 /EINPresswire.com/ — Gas Sensor Market is forecast to reach $1.2 billion by 2026, growing at a CAGR of 5.5% from 2021 to 2026. The Gas Sensor Market is estimated to witness a sustainable growth over the forecast period majorly because Gas Sensor plays a major role in giving security, safety and various applications in Industries and other workplaces. Gas Sensor have their own respective features and provides various utilities. Gas sensors generally provide a measurement of the concentration of various gases such as CO, CO2, NOx, SO2 and Others by different sensors such as Combustible Gas Sensors, Infrared Point Sensors, Electrochemical Gas Sensors, Metal Oxide Semiconductor, Photo Ionization Detection, Paramagnetic and and Others. Gas sensors are commonly included as part of a health and safety system within the workplace, with portable instruments designed for protecting all workplaces when working in potentially hazardous areas. These vast features at various End-Use industries such as water treatment, food and beverage etc drives its market growth in global market. On the other hand, high installation and maintenance cost are the major challenges affecting its market growth.
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Key Takeaways:
This IndustryARC report on Gas Sensor Market highlights the following areas –
1. The Gas Sensor Market is estimated to witness a sustainable growth over the forecast period majorly role in giving security, safety and various applications in Industries and other workplaces.
2. Due to increasing extraction and shipping of resources in various Oil and Gas Industries, the scope of different Gas Sensors has increased rapidly which boost its market growth.
3. Ongoing Industrialization and Urbanization in major economies such as USA, Canada, China, India and others, the presence of harmful gases in atmosphere and increased rapidly which uplifts the demand of Gas Sensors in global market.
4. With the rise in Governmental regulations and Environmental concerns against the rising air pollution intensity with hazardous gases in atmosphere, installation of Gas Sensors in all workplaces and near hospitals and Other public places tends to drive the market growth.
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Segmental Analysis :
1. Portable Gas Sensors has dominated the Gas Sensor Market at 70% share in 2020 as compared to the Fixed Gas Sensors. The demand for Portable Gas Sensors is growing because in various Power plant and Oil & Gas Industries, the pipelines contain many hazardous elements that can cause short and long-term health problems if workers are exposed improperly.
2. Oil & Gas Industries hold the largest market in Gas Sensor Market at 22.4% share in 2020. The various Inspection methods which it offers to the Oil & Gas Industries as they mainly constitute in operation of many gases from extraction to production by transferring through pipelines.
3. Asia-Pacific has been accounted for being the highest market at 37.5% share in 2020 among all the regions by geography. The market growth in this region is predominantly rising due to fast-growing economies such as China, India, Japan and Others.
Competitive Landscape :
The top 5 players in the Gas Sensor Industry are –
1. Dragerwerk Ag & Co.KGAA
2. AMETEK
3. Honeywell International Inc.
4. ABB Ltd.
5. General Electric Co.
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