Gas Sensor Market Size to Reach USD 1,336.2 Million by 2027 at CAGR 6.4% | Valuates Reports
BANGALORE, India, Feb. 26, 2021 /PRNewswire/ -- The Gas Sensor Market is Segmented Type (Carbon Monoxide, Methane, Hydrogen, Ammonia, Oxygen, and Others), Technology (Infrared Gas Sensor, Photoionization Sensor, Electrochemical Gas Sensor, Thermal Conductivity Gas Sensor, Metal Oxide-Based Gas Sensor, Catalytic Gas Sensor, and Others)and End Use (Defense & Military, Healthcare, Consumer Electronics, Automotive & Transportation, Industrial, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2027. This report is published on Valuates Reports in the Industrial Materials & Equipment Category.
The global gas sensor market size was valued at USD 823.1 Million in 2019 and is projected to reach USD 1,336.2 Million by 2027, growing at a CAGR of 6.4% from 2020 to 2027.
Major factors driving the growth of gas sensor market size are the formulation and implementation of various health and safety regulations across the globe, increased adoption of gas sensors in HVAC systems and air quality monitors, rise in demand for gas sensors from critical industries, increased air pollution levels, and the need to monitor air quality in smart cities.
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TRENDS INFLUENCING THE GAS SENSOR MARKET SIZE
The emergence of gas sensors in the HVAC systems is expected to drive the growth of the gas sensor market size. By eliminating contaminants from the atmosphere by proper ventilation and pressurization, the HVAC system provides fresh and pure indoor air. Gas sensors are increasingly used in HVAC systems in all major industries to identify and analyze the levels of harmful substances found in the environment, including the presence of combustible gases and toxic elements.
Growing trends toward the internet of things (IoT) are expected to fuel the gas sensor market size. As we are heading toward automation-based technologies and services in the new IT-dominant environment, there is an increase in emphasis on IoT-based devices. The IoT uses electronic software, sensors, and actuators to link all these items to a common network. Multiple sensors such as contact sensor, proximity sensor, gas sensor, and temperature sensor are used in various IoT solutions and products.