Gas Sensors Market Worldwide Description:
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Gas sensors are instruments that help measure the presence or
concentration of a gas in a particular environment. Gas sensors form
an important part of larger intelligent sensing systems used in a
variety of industries and manufacturing plants. Being a product for
safety technology at their core, gas sensors are chiefly installed as
a safety measure and to protect workers and ensure the safety of the
area. A typical gas detection system detects concentration of
dangerous gases, triggers alarms in case of a leakage, and, depending
on the level of sophistication of the device, also activates certain
countermeasures to ensure that the situation does not turn fatal for
employees, the environment, and other assets.
Safety of an area that can be potentially affected by dangerous gases
depends, to a high degree, on the reliability of gas detection
systems and on the quality of sensors in the systems. Recently, gas
sensors are receiving increasing attention in a number of industries
due to tightening safety regulations at manufacturing and processing
units in a variety of industries and rising concerns about
occupational health. According to a report published by U.S.-based
market research firm Transparency Market Research (TMR), the global
gas sensors market for had a valuation of US$1.664 billion in 2012.
Growing at a 5.7% CAGR between 2012 and 2018, valuation of the market
is expected to rise to US$2.328 billion by 2018.
Market’s Development Driven by Diversity of Applicability
Owing to the widespread and common applications of gas sensors in a
variety of industries, gas sensors have become a significant part of
safety systems in numerous industries. The highly diverse nature of
most locations where gas sensors are fitted requires the development
of a variety of gas sensors. Thus, the field has observed numerous
studies establishing a number of branches of gas sensing mechanisms.
Research has been most extensively diverted to three major areas of
the gas sensor market: introduction and investigation of different
varieties of sensors, study on various sensing principles, and
techniques of fabricating gas sensors.
Most commonly, gas sensors are used in areas such as industrial
production, automotive industry, medical applications, environmental
studies, and indoor air quality supervision.
Download the Technical Aspects of Gas Sensors:
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Currently, the global market for gas sensors earns a major share of
its revenue from industrial applications. According to the TMR
report, industrial applications held a 20% share in the global gas
sensor market in 2012. Demand for gas sensors in the automotive
industry accounted for a 16% share in the overall market valuation in
the same year.
Geography-wise, the demand for gas sensor systems was the highest in
Europe in 2012, when the regional market held a 30% share in the
overall market. Rising level of industrialization in Asia Pacific is
expected to lead to increased demand for gas sensors from this
regional market in the coming years.
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