APAC Gas Sensor Market size is estimated to reach USD 350 million by 2026, according to a latest forecast report by Graphical Research.
Growing adoption of gas sensors to support industrial automation and smart manufacturing is expected to bolster the Asia Pacific gas sensor market revenue. The regional government are emphasizing on building new smart manufacturing facilities to increase the competitiveness in the industrial sector. For instance, in December 2018, Government of South Korea proposed a plan to build 30,000 smart factories by 2022 to boost the growth of country’s small and mid-size (SME) manufacturing capabilities. This will increase the adoption of AI, IoT and advance sensor technologies, fueling the market growth.
The infrared gas sensors segment is projected to register a growth of over 7% through 2026 attributed to high accuracy and faster response time offered by the infrared (IR) technology compered to PID and electrochemical sensors. The infrared gas sensors provide accurate results and faster response time during the leakage of combustible gases which increases their adoption in boilers, furnace, and pressure vessels in petrochemical industry. Adding to this, the rising development in non-dispersive infrared (NDIR) technology will further add opportunity to the segment growth. For instance, in February 2020, Asahi Kasei Microdevices Corporation (AKM) introduced three new gas sensors for detection of flammable gases such as Methane gas, Propylene, and Propane gases with NDIR technology. The new gas sensors offer low current consumption, small package size and are integrated with IR LED drivers.
Browse detailed statistical insights from the report, “Asia Pacific Gas Sensors Market Size By Technology (Electrochemical, Semiconductor, Solid State, PID, Catalytic, Infrared), By Product (Oxygen (O2)/ Lambda Sensors, Carbon Dioxide (CO2) Sensors, Carbon Monoxide (CO) Sensors, NOx Sensors), By Connectivity (Wired, Wireless), By Application (Consumer Electronics, Medical, Environmental, Petrochemical, Automotive, Industrial), Research Report, Country Outlook (China, India, Japan, Australia), Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 - 2026” along with the table of contents (ToC) @https://www.graphicalresearch.com/industry-insights/1739/asia-pacific-gas-sensors-market
India gas sensor market accounted for over 10% revenue share in 2019 and is set to observe 6% CAGR from 2020 to 2026. The growth is credited to favorable government initiatives supporting the oil & gas industry in the country. For instance, in February 2021, Government of India announced to spend approximately USD 103.3 billion to develop oil & gas infrastructure in next five years. Strong emphasis will be laid on expansion of gas distribution network in 470 districts in the country. Adding to this, the country is planning to enhance its exploration and production activities in oil & gas sector. According to the January 2021 report generated by the Indian Brand Equity Foundation (IBEF), the Indian Oil & Gas industry is expected to attract USD 25 billion for exploration and production activities by 2022. This will be requiring continuous gas monitoring equipment, thereby increasing the demand for gas sensors over the forecast period.
Key industry players are focusing on continuous innovations and new product launches to gain a competitive edge in the market. For instance, in June 2020, Figaro Engineering announced the launch of new Lead-free galvanic cell-type oxygen gas sensor portfolio. These sensors find applications in environmental control systems, food & beverage industry, and oxygen test kits. Some of the prominent players in the market are SENSEAIR, Gas Sensing Solutions Ltd., Siemens, Yokogawa Electric Corporation, Figaro Engineering Inc., Dragerwerk AG & Co. KGaA, among others.
The APAC gas sensor market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million & volume shipments from 2015 to 2026 for the following segments:
Asia Pacific Market, By Product
- Oxygen (O2)/ lambda sensors
- Carbon dioxide (CO2) sensors
- Carbon monoxide (CO) sensors
- NOx sensors
Asia Pacific Market, By Technology
- Solid state
Asia Pacific Market, By Connectivity
Asia Pacific Market, By Application
- Consumer electronics
The above information has been provided for the following countries:
- Asia Pacific