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| Global Gas Sensor Market Size |
Gas sensors are electronic devices used to detect and monitor the presence and
concentration levels of gases in various industries. Gas sensors are finding
increasing applicability in heating, ventilation, and air conditioning (HVAC)
systems to monitor air quality, leakages of toxic gases, and ensure safety.
The global
gas sensor market is estimated to be valued at US$ 3.09 Billion in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
The adoption of gas sensors is accelerating in the HVAC industry for monitoring
indoor air quality. Gas sensors help HVAC systems detect carbon monoxide,
carbon dioxide, toxic gases and other airborne contaminants in real-time. This
ensures ventilation of stale air and intake of fresh air as needed. Gas sensors
provide alerts in case of gas leaks and help troubleshoot HVAC equipment
performance issues. The real-time monitoring of air quality facilitated by gas
sensors enhances user safety and comfort. It also helps optimize HVAC
operations and reduce energy costs. The growing awareness about indoor air
pollution is propelling the integration of advanced gas sensing technologies
into HVAC systems for effective air quality management.
Segment Analysis
The global gas sensor market is segmented by technology, gas type, and end-use
industry. Based on technology, chemical gas sensors hold the largest share as
they are extremely low cost and can detect a wide variety of gases. Chemical
gas sensors are dominating due to their low cost for simple detection needs.
Key Takeaways
Global
Gas Sensor Market Size is expected to witness high growth.
Regional
analysis: The Asia Pacific gas sensor market is expected to grow at the highest
CAGR from 2023 to 2030. This is attributed to the increasing industrialization
in major economies such as China and India. Stringent emission regulations
imposed by governments in the region are also driving the demand for gas
sensors in various industries such as automotive, oil and gas, consumer
electronics.
Key players operating in the gas sensor market are L'Oréal, Estée Lauder
Companies Inc., Coty Inc., and Shiseido Company, Limited. These players are
focusing on new product launches and expansions to increase their market share.
For instance, in 2022, L'Oréal launched new gas sensor technologies with better
accuracy for industrial applications.
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