Gas Sensors Market Trends

Statistics for the 2023 & 2024 Gas Sensors market trends, created by Mordor Intelligence™ Industry Reports. Gas Sensors trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of Gas Sensors Industry

Carbon Monoxide (CO) Segment to Hold Significant Market Share

  • Carbon monoxide (CO) poses a significant threat as it can cause intoxication, a leading factor in unpredictable morbidity and mortality, which is often linked to inhalation injuries from combustion. This underscores the critical need to identify optimal materials and technologies for detecting this hazardous gas. Metal oxide semiconductor (MOS) sensors have garnered attention, especially for their application in micro- or nano-thin film formats.
  • While carbon monoxide is inherently toxic, it serves as a crucial, combustible, and eco-friendly energy source in industrial and metallurgical operations. It plays a pivotal role in redox reactions, aiding in metal purification. Notably, carbon monoxide is both highly flammable and prone to explosions. Given the potential dangers, the adoption of carbon monoxide sensors is on the rise. This trend is further propelled by increasingly stringent government regulations, particularly those emphasizing worker safety.
  • Carbon monoxide detectors are indispensable in various industries, primarily for their ability to detect this colorless, odorless, and tasteless gas, which is otherwise imperceptible to human senses. Such sensors are pivotal in averting carbon monoxide poisoning, a condition that, when left unchecked, can lead to severe consequences, including loss of consciousness, seizures, or even death. In the United States alone, this silent killer prompts over 20,000 emergency room visits annually and stands as the most common fatal poisoning in many nations.
  • Carbon monoxide (CO) can harm health by impeding oxygen delivery to the body’s organs and tissues. Individuals with heart disease face heightened risks even at lower CO levels, experiencing symptoms like chest pain, reduced exercise capacity, and potentially additional cardiovascular complications with repeated exposure. The growing number of vehicles on the road generates a huge amount of CO, which creates a significant demand for gas sensors to analyze and detect gases in the environment. CO (Carbon Monoxide) gas sensors are crucial components in gas detection equipment, designed to identify carbon monoxide in various settings, from homes and automotive to industrial environments.
  • According to the Environmental Protection Agency, the United States saw emissions of around 42.3 million tons of carbon monoxide (CO) in 2023, excluding those from wildfires. Such increased CO emissions create new market opportunities for segment growth.
Gas Sensors Market - Annual Carbon Monoxide Emissions in 1,000 Tons, United States, 2015-2023

Asia-Pacific Expected to Witness Major Growth

  • After CO2, methane is the second most impactful greenhouse gas, significantly contributing to global warming. China is one of the top methane emitters from fossil fuel activities, and the nation is under pressure to rein in its methane output.
  • Despite efforts outlined in China's recent methane plan issued by the Ministry of Ecology and Environment. These include inadequate data collection, tax regulatory standards, and ongoing technical and managerial hurdles in controlling methane emissions.
  • The increase in energy prices due to geopolitical conflicts has caused a growing interest in alternative energy sources like Hydrogen. Hydrogen can potentially be a primary energy source for industrial and residential uses. The medical industry is projected to stay steady, with gas sensors in devices like capnography and breath analyzers.
  • Gas sensors are crucial for detecting hydrogen leaks and ensuring Hydrogen's safe production, storage, and utilization. Japan invests heavily in Hydrogen as a clean energy source, with initiatives to develop hydrogen fuel cells for vehicles and power generation. Gas sensors are crucial for detecting hydrogen leaks, ensuring the safe production, storage, and utilization
  • For instance, Japan's most prominent power generation company, JERA, intends to invest over USD 6 billion in ammonia and hydrogen fuel supplies by 2035. The company's primary focus will be on blue and green Hydrogen. Blue Hydrogen is generated from natural gas, which produces carbon emissions that are then captured and stored to minimize its greenhouse gas impact. In contrast, green Hydrogen is produced through water electrolysis-powered solar and wind energy renewable resources.
Gas Sensors Market: Market CAGR (%), By Region, Global

Gas Sensors Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)