Market Size of Volatile Organic Compound Gas Sensor Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR (2024 - 2029) | 7.00 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Volatile Organic Compound Gas Sensor Market Analysis
The Volatile Organic Compound Gas Sensor Market is expected to register a CAGR of greater than 7% during the forecast period.
Volatile organic compound (VOC) gases contribute to air pollution in the environment; few of the VOC gases are proven to be disease biomarkers. The detection of VOC gases in the air has received considerable attention, becoming increasingly important in the development of leak detection devices. VOC sensors are used in air monitoring devices to observe emission levels due to their unique properties, such as high sensing performance, portability, and compact size.
- Additionally, growing awareness about indoor and outdoor air quality is driving the demand in industrial and private environmental monitoring. This factor is expected to create opportunities for the market over the forecast period.
- Governmental agencies have been taking proactive measures to enforce the use of sensors in potentially hazardous locations, where they are seen as a vital cog for triggering emergency procedures across industries in case of an abnormal rise in the concentration of gases that are actively used for monitoring the air quality and detection of combustible gases majorly in the chemical, industrial, medical, and automotive industries. For instance, the increasing imposition of regulations and policies by government associations, such as the U.S. Environmental Protection Agency and Mine Safety and Health Administration, has resulted in the large-scale adoption in various industries.
- The growth of the water and wastewater treatment industry is a crucial factor driving the expansion of the VOC gas market. The wastewater comprises of pathogens such as viruses, bacteria, prions, and parasitic worms, organic particles such as paper fibers, hairs, food, feces, vomit, plant material, pharmaceuticals, gases such as carbon dioxide, methane, hydrogen sulfide, and other hazardous substances which act as Volatile Organic Compounds (VOCs) present in wastewater.
- In May 2019, The Delhi Jal Board (DJB) Wednesday approved setting up of a new sewage treatment plant (STP) at OkhlaThe Delhi Jal Board (DJB) Wednesday approved setting up of a new sewage treatment plant (STP) at Okhla that would be capable of treating 124 million gallons of wastewater per day and will come up at the cost of Rs 1,161 crore in three years. Such instances are expected to fuel market growth over the forecast period.
- The VOC gas sensors are increasingly being used in the oil and gas industry to detect leaks on drilling platforms (upstream), pipelines, trailers and tanker vessels (midstream), and refining and storage facilities (downstream). With the industry poised to grow due to the increased consumption of oils and natural gas in the sector, the market is poised to witness growth over the forecast period.
- However, the COVID-19 outbreak that has been ravaging various countries has adversely affected the overall sensor industry. The continued operations may become increasingly complicated due to workforce shortages, as employees are infected by COVID-19 and the practical difficulties in many cases of social distancing.
Volatile Organic Compound Gas Sensor Industry Segmentation
The gas sensor is a variant of a chemical sensor that can measure the concentration of a constituent gas in its vicinity. These sensors adopt different techniques for quantifying the exact amount of gas in a medium. The volatile organic compound gas sensor helps in the detection of organic chemicals with a high vapor pressure at ordinary room temperature. The scope of the global volatile organic compound (VOC) gas sensor market includes insights into the solutions offered by major players providing hardware (either detector or sensor) and detailed geographical analysis.
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Volatile Organic Compound Gas Sensor Market Size Summary
The Volatile Organic Compound (VOC) Gas Sensor Market is poised for significant growth, driven by increasing awareness of air quality and the need for environmental monitoring in both industrial and private sectors. VOC sensors are crucial for detecting air pollution and potential health hazards, making them indispensable in industries such as chemical, medical, and automotive. The market is further bolstered by regulatory measures from government agencies like the U.S. Environmental Protection Agency, which mandate the use of these sensors in hazardous locations to ensure safety and compliance. The expansion of the water and wastewater treatment industry also contributes to market growth, as VOC sensors are essential for monitoring and managing hazardous substances in wastewater.
In the oil and gas sector, VOC sensors play a vital role in leak detection across various stages of production and transportation, from drilling platforms to refining facilities. The industry's growth, fueled by rising demand for fuels and natural gas, underscores the importance of these sensors in maintaining safety and operational efficiency. Despite challenges posed by the COVID-19 pandemic, which has impacted workforce availability and operational continuity, the market remains resilient. Government initiatives and investments in infrastructure development, such as the construction of offshore facilities and sewage treatment plants, are expected to drive further adoption of VOC gas sensors. The competitive landscape is characterized by strategic partnerships and technological advancements, with key players like ABB and Alphasense leading the way in innovation and market presence.
Volatile Organic Compound Gas Sensor Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Stringent Government Regulations to Control VOC Emissions
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1.2.2 Increasing Use of Wireless and Smart Sensing Technology
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1.3 Market Restraints
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1.3.1 Interopereability Issues
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1.4 Industry Attractiveness - Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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1.5 Industry Value Chain Analysis
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1.6 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 Geography
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2.1.1 North America
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2.1.2 Europe
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2.1.3 Asia
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2.1.4 Australia and New Zealand
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2.1.5 Latin America
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2.1.6 Middle East and Africa
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Volatile Organic Compound Gas Sensor Market Size FAQs
What is the current Volatile Organic Compound Gas Sensor Market size?
The Volatile Organic Compound Gas Sensor Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Volatile Organic Compound Gas Sensor Market?
EcoSensors, SGX Sensortech Limited, GfG Europe Ltd., MicroJet Technology Co., Ltd. and Renesas Electronics Corporation are the major companies operating in the Volatile Organic Compound Gas Sensor Market.