The gas sensor market is projected to reach USD 3,137.4 million by 2032 from USD 1,621.9 million in 2024 at a CAGR of 8.6% during the forecast period. Major growth drivers of this market include the rising implementation of gas sensors in industries with critical operations, including oil & gas, chemicals, mining, and power, as they require detecting toxic gases like methane (CH4), carbon monoxide (CO), hydrogen sulfide (H2S), and volatile organic compounds (VOCs) in such industries to prevent accidents. Global implementation and enforcement of several health and safety regulations are encouraging the adoption of gas sensors to ensure worker safety, environmental monitoring, and emission control, hence fueling the demand for the product across industries.
Some of the major players in the gas sensor market with significant global presence are include Honeywell International Inc. (US), MSA (US), Amphenol Corporation (US), Figaro Engineering Inc. (Japan), and Alphasense Inc. (UK). These players have incorporated various organic and inorganic growth strategies including collaborations, acquisitions, product launches, partnerships, agreements, and expansions to strengthen their international footprint and capture a greater share in the gas sensor market. These organic and inorganic strategies have allowed the market players to expand themselves across geographies by offering gas sensors.
Major Gas Sensor Companies Include:
- Honeywell International Inc. (US)
- MSA (US)
- Amphenol Corporation (US)
- Figaro Engineering Inc. (Japan)
- Alphasense Inc. (UK)
- Sensirion AG (Switzerland)
- Process Sensing Technologies (UK)
- ams-OSRAM AG (Austria)
- Membrapor (Switzerland)
- Senseair (US)
- Nissha Co., Ltd. (Japan)
- Fuji Electric Co., Ltd. (Japan)
- Renesas Electronics Corporation (Japan)
- Danfoss (Denmark)
- Gasera (Finland)
- Infineon Technologies AG (Germany)
Honeywell International Inc. (US) aims to expand its position as a leading provider of gas-sensing solutions for customers. The company has stressed on expansion strategy to tap business opportunities in emerging markets. The development of new and innovative products is also helping the company strengthen its brand image. For instance, the company launched a new infrared-based (IR) technology, Fs24x plus flame detector in October 2023. It detects hydrogen flames quickly and reliably. It helps protect workers and facilities from hydrogen production and usage risks. It mainly provides sensors based on gas sensing technologies, such as infrared, catalytic, and electrochemical, in the gas sensor market. The company is primarily involved in R&D for product innovation and invention, for which it has tied up with several universities. The company has an established geographic presence in the UK, Germany, China, Taiwan, and the US. It offers a wide range of gas sensors, thus catering to various applications, including those used in harsh and hazardous environments. The company offers over 300 different sensors sold in 48 countries worldwide.
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MSA (US) is a global manufacturer of safety instruments. The company offers a wide range of gas sensors and gas sensor-based products, including portable gas sensors, multiple-gas sensors, and connected/cloud-based safety services, to various industries. It provides portable gas sensors through its ALTAIR series, while the cloud-based devices are offered through its subsidiary Safety io, LLC, which is focused on using wireless technology and cloud-based computing to offer a broad range of connected and safety services. The company has manufacturing operations in the US, Europe, Asia, and Latin America. MSA offers its products to various markets, such as oil & gas, petrochemical, fire service, construction, mining, and military. MSA focuses on developing wireless devices and portable gas sensors; it is expected to grow significantly in the coming years as its gas sensors are equipped with cloud-based services. The company makes significant investments in research and development, which is reflected through its product offerings.
