The global gas sensors market is expected to grow from USD 1.1 billion in 2021 to USD 1.5 billion by 2026; it is expected to grow at a CAGR of 7.0% during 2021–2026. Key factors fueling this markets growth include high demand for gas sensors in critical industries, formulation and implementation of various health and safety regulations globally, increasing integration of gas sensors in HVAC systems and air quality monitors, increasing air pollution level and need for air quality monitoring in smart cities, and increased demand for gas sensors in healthcare industry during COVID-19 pandemic. Deployment of IoT, cloud computing, and big data with gas sensors, growing adoption of gas sensors in consumer electronics, and increasing demand for miniaturized wireless gas sensors create a strong demand for gas sensor for efficient industrial operations in the midst of COVID-19.
Key players in the gas sensor market comprise companies operating at different stages of the value chain. These include Honeywell Analytics (UK), MSA Safety Inc. (US), Amphenol (US), Figaro Engineering (Japan), Alphasense Ltd.(UK), Sensirion AG (Switzerland), Dynament Ltd. (UK), ams AG (Austria), MEMBRAPOR AG (Switzerland), and Senseair AB (Sweden). Many of these companies focus on adopting both organic and inorganic growth strategies, such as product launches and developments, partnerships, expansions, acquisitions, and collaborations to strengthen their position in the market.
Top 2 players in gas sensor market:
Honeywell Analytics (UK) is a combination of different gas detection companies acquired by Honeywell International, Inc. (Honeywell) since 2005. The company offers sensors for the detection of gases such as oxygen, carbon monoxide, ammonia, hydrogen sulfide, nitrogen dioxide, hydrocarbons, methane, hydrogen, chlorine, and dioxides. The company offers industrial fire and gas systems, portable gas detection systems, flame and centralized gas monitoring systems, and systems used in commercial building environments.
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Amphenol (US) is among the leading providers of advanced sensing technologies and innovative embedded measurement solutions. In October 2016, Amphenol acquired SGX Sensortech, which is an important player in the gas sensor business. SGX Sensortech offers gas sensors for sensing gases, such as carbon mono oxide, carbon dioxide, oxygen, hydrocarbon, and methane, which are used in various industries such as automotive, mining, and building automation. Amphenol offers gas sensors for CO2 under its product portfolio.
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