Gas Sensor Market Summary & Critical Success Factors (CSFs) Till 2020 “The gas sensor market size by sales was valued at $1.78 billion in 2013 and is anticipated to grow at a CAGR of 5.1% over the forecast period.�
The Gas Sensor Market size by sales was valued at $1.78 billion in 2013 and is anticipated to grow at a CAGR of 5.1% over the forecast period. Innovations, modern technologies, embedded electronics and enhanced manufacturing procedures are likely to drive the gas sensors market. For instance, as per the vehicle emission standard, the permissible amount of specific air pollutants that released by engines to the atmosphere is predetermined, and sensors such as NOx and CO detectors makes it possible to monitor and keep the level of pollutants as per norms, thus increasing the global revenue growth. Furthermore, cabin air quality can be checked by the amount of oxygen present in the room or in transportation mediums by deploying oxygen sensors. Moreover, the growing industrialization worldwide releases the toxic fumes into the surroundings and atmosphere endangering the nearby life, boosting the demand for gas sensors to monitor these toxic elements in the air. Other key drivers fueling the demand are increasing adoption of these systems to ensure safety & health, smart sensors and wireless technologies. Product Insights Oxygen sensors is a dominating segment of the market with 10% of the total revenue in 2013 and are anticipating a further growth over the period. CO2 sensing systems have been witnessing increasing demand from the food processing sector to detect spoilage and level of carbon dioxide in controlled packages and storage. The higher cost of carbon dioxide sensing systems may hamper the market growth of the segment. Carbon monoxide sensors detect & monitor the concentration of the gas. Carbon monoxide is a toxic gas which is harmful to life above 35ppm concentration level. It is formed as a result of partial oxidation of carboncontaining materials and is detrimental to humans in high concentrations. Technology Insights
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