Volatile Organic Compound Gas Sensor Market Revenue Drivers, Growth Opportunities, Value Chain Analysis and Forecast Research Report, 2025
“The global volatile organic compound (VOC) gas sensor market size was accounted for USD 141.7 million, in 2018 and is anticipated to grow at a CAGR of 4% over the forecast period of 2019 to 2025.”
The global volatile organic compound gas sensor market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development. Market Overview: The global volatile organic compound gas sensor market size is projected to touch USD 186.7 million by the year 2025, according to a new report by Million Insights. It is anticipated to grow at a CAGR of 4% through the forecast period of 2019-2025. The presence of volatile organic compound (VOC) gases in the air has been subject to a lot of contemplation and is very crucial in developing leak detection devices. This factor is expected to propel the growth of the market. A VOC gas sensor is an electrical device which is used to detect the presence of gases like methylene, benzene, propane, chloride, ethanol and acetone in a confined area and is mostly integrated in a safety system. These sensors are consolidated into leak detection devices which consume less power. Technological advancements like PID sensors and enhancements of MEMS sensors for detection of volatile organic compound emission are anticipated to propel the growth of the market. VOC sensors are largely used in air monitoring devices to inspect emission levels due to their rare properties like portability, compact size and high sensing performance. Nevertheless, these sensors feature limitations like lack high operating temperatures and poor selectivity. Thus, to counteract these challenges, the companies are forthcoming with improvised MEMS sensors to subjugate the disadvantages.
Market Share Insights Key players in the market include City Technology Ltd.; ABB Ltd; Aeroqual Limited; Siemens AG; Integrated Device Technology, Inc.; Bosch Sensortec; EcoSensors; GfG Europe Ltd and SGX Sensortech. Sensor producers concentrate on investing in R&D to develop technologically advanced products with an aim to boost the market growth. They have adapted launching new products as their prime developmental strategy to meet the demand of the end-users. Moreover, they have acquired businesses in order to expand their product line and to accelerate the process of production for expanding sales in various geographical locations. Request free sample to get a complete analysis of the market players @ https://www.millioninsights.com/industry-reports/global-volatile-organic-compound-voc-gas-sensormarket/request-sample Technology Insights Metal oxide semiconductor gas sensors function when VOC gas happens to be in contact with the metal oxide surface where reduction or oxidation of the gas changes resistivity or conductivity of the metal oxide surface. An electronic circuitry enables the measurement of the change in resistivity or conductivity. These products are available at affordable prices and can detect the presence of hazardous combustible gases. They are majorly used in industries like medical, petrochemical, and automotive because of their advantageous features like longevity and resistance to corrosion. In 2018, semi-conductor technologybased sensors attributed to a significant part of the market share. The very benefit of installing IR gas sensors is that their detector does not come in contact with the gas directly. The gases are detected by using infrared radiation. The sensors include detectors, optical filters, and IR sources. However, the price of these sensors ranges from USD 250 to USD 300 per product, which is comparatively higher than that of electrochemical sensors. Regional Insights In 2018, Europe dominated the market because of increasing investments in IT and the development of advanced sensor technologies. Increasing demand for sensors that can be monitored through handheld devices has supported advancements in technology. The government is currently focusing on emission control standards and energy efficiency that has driven the product demand in the automotive industry of Europe. The growing application of sensors in several industries along with rising opportunities is projected to propel the growth of the regional market. The Asia Pacific is expected to grow as the fastest developing region due to the rising industrial automation in countries like India, Japan, and China. These countries use sensors extensively in their petrochemical and chemical and gas and oil industries due to their rapid response to the leakage of combustible gases. Browse Related Category Research Reports @ https://industryanalysisandnews.wordpress.com/
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