Transparency Market Research: Gas Sensors Market Will Reach USD 2.32 Billion Globally in 2018

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Transparency Market Research

Gas Sensors Market Will Reach USD 2.32 Billion Globally in 2018

Albany, New York (PRWEB) July 21, 2014

Transparency Market Research published its new market report "Gas Sensors Market - Global Industry Size, Share, Trends, Analysis and Forecast, 2012-2018," that states the global gas sensors market is expected to reach a value of USD 2.32 billion by 2018, at a CAGR of 5.7% from 2012 to 2018.

Gas sensors are units that help to transform partial pressures or gas compositions into electric signal. These pressures are often measured in the form of air or gases. Gas sensors comprise of two basic parts - a transducer transforming the chemical reactions into an output electric signal and a receptor enabling chemical recognition. The gas sensors market is divided into sub-segments based on different parameters that enable stakeholders across the supply chain to take advantage of the strategic analyses. Gas sensors help to measure the concentration of gas in particular vicinity, and are also used across various end-use industries. Due to the advent of enhanced manufacturing and embedded electronics techniques, there have been several developments in gas sensing technology. In the event of a leak, gas sensors prove to be extremely effective in measuring gas concentrations.

Title: Gas Sensors Market - Global Industry Size, Share, Trends, Analysis and Forecast, 2012-2018
Published: 24 July 2013
Pages: 124    
Price:    US$ 4,795.00 (Single User)
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Some important factors driving the demand for gas sensors globally are strengthening government regulations for exhaust emission control and growing concerns towards occupational safety and health. Industrial applications are the largest end-user market segments for gas sensors accounting for around 20% share in 2012. This is then followed by automotive industry with a share of around 16% in 2012. Gas sensors in automobiles are primarily used for monitoring cabin air quality, exhaust gas emission control, and others. It encompasses oxygen sensors to measure and control the air-to-fuel ratio, air quality sensors for intake air and cabin room quality control in automobiles. Methane sensors are also used in certain gas vehicles. Automotive gas sensor is the fastest growing segment across the globe, and is expected to grow at a CAGR of 6.1% during the forecast period from 2012 to 2018. The pressing need for incorporating gas sensors in automobiles for comfort and safety of passengers is the most responsible factor for the growth of the automotive gas sensors market.

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Nevertheless, the medical sector is another important end-user industry that incorporates gas sensors in breath analysis to check the health of patients. Gas sensors in this field are expected to grow at a CAGR of 6.0% from 2012 to 2018. Some other application areas of gas sensors include educational institutes, R&D laboratories, power generation, and others.Besides, the major application areas for gas sensors include automotive industry, petrochemical industry, manufacturing processes, and environmental applications among many others. Gas sensors are used to detect the presence of anesthesia gases in operation theatres and are primarily used for indoor and outdoor air quality monitoring and maintenance, exhaust emission control in automobiles, detection of combustible and toxic gases, and others. These devices are largely used in industrial applications to monitor and detect concentrations of gases such as nitrogen, helium and others.

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Europe was the largest contributor to the global gas sensors market in 2012, accounting for around 30% share of the overall market. However, Asia Pacific is now growing at a CAGR of 6.9% during the forecast period from 2012 to 2018, and is expected to be the fastest growing regional market for gas sensors. Some of the major players engaged in gas sensors manufacturing include City Technology, Alphasense, Membrapor, Dynament, Figaro Engineering, and others. Of all, the City Technology is leading the global gas sensor manufacturing sector holding a share of around 28% in 2012 followed by Alphasense and Membrapor in 2012.

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