The global Gas Sensor Market size is expected to reach USD 4.49 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 8.7% from 2021 to 2028. The growth can be attributed to the growing demand for gas sensors to monitor gas emissions from industrial facilities. The increasing demand for wearable gas sensors for human health and environmental monitoring also bodes well for the growth of the market over the forecast period.
Various government bodies worldwide are imposing limits on vehicular emissions to curb atmospheric pollution and enhance fuel efficiency. For instance, the U.S. Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration revised the Corporate Average Fuel Economy targets and the greenhouse gas emission standards for passenger cars in April 2020. The need to abide by the newer emission standards is expected to trigger the demand for gas sensors over the forecast period.
Deteriorating air quality, particularly in urban areas, is a major problem in most parts of the world. Several people worldwide are suffering from various health disorders due to harmful gases emitted from vehicles and industrial facilities. At this juncture, gas sensors can potentially help in assessing the levels of carbon monoxide, carbon dioxide, and other gases in the air and contribute favorably to curbing air pollution.
The outbreak of the COVID-19 pandemic is anticipated to create new opportunities for the market players. The demand for carbon dioxide gas sensors is expected to increase significantly in particular. Carbon dioxide gas sensors are being used widely in European countries for monitoring the indoor environment in schools to control the spread of coronavirus. Guidelines published by the Federation of European Heating, Ventilation, and Air Conditioning Associations also recommend installing carbon dioxide monitoring systems in schools.
Related Press Release @ Gas Sensor Market Report
Gas Sensor Market Report Highlights
- The oxygen sensor segment is expected to witness significant growth over the forecast period. The increasing adoption of oxygen gas sensors in medical equipment is expected to drive the growth of the segment
- The demand for wireless gas sensors is rising owing to the benefits, such as ease of installation and flexibility, associated with wireless devices
- The demand for electrochemical gas sensors is rising owing to the ability of these sensors to detect harmful gas emissions and help in improving air quality
- The increasing number of smart city projects being rolled out worldwide are driving the demand for IoT enabled gas sensors for monitoring environmental gas
- Rapid urbanization in emerging economies, such as China and India, is expected to create growth opportunities for the Asia Pacific regional market
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