Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Artificial Intelligence

Gas Sensors Market to Reach USD 5,302 Million in 2032 with a CAGR of 7.8%, Report by Market.us

Published

on

<!– Name:DistributionId Value:8792297 –> <!– Name:EnableQuoteCarouselOnPnr Value:False –> <!– Name:IcbCode Value:2790 –> <!– Name:CustomerId Value:1269133 –> <!– Name:HasMediaSnippet Value:false –> <!– Name:AnalyticsTrackingId Value:2faf33b9-04bd-4f2e-904f-b1905b40696c –>

New York, March 21, 2023 (GLOBE NEWSWIRE) — The global gas sensors market is expected to be worth around USD 5302 Billion by 2032 from USD 2549 Billion in 2022, growing at a CAGR of 7.80% during the forecast period from 2023 to 2032. Gas sensors are devices that can detect the presence or concentration of various hazardous vapors and gases such as explosive gases, odors, humidity, and volatile organic compounds (VOCs).

global gas sensors market

Get additional highlights on major revenue-generating segments, Request a global gas sensors market sample report at https://market.us/report/gas-sensor-market/request-sample/

Key Takeaway:

  • By Product Type, 2022, the wired gas sensors segment generated the largest revenue share of 53% in 2022.
  • By Gas Type, the Carbon dioxide gas sensors segment has dominated the market and it accounted for the largest global revenue of 32.5% in 2022.
  • By Technology, the electrochemical gas sensors segment dominated the market and it accounted for the largest global revenue of 23% in 2022.
  • By End-Use, the Industrial segment has generated the largest revenue share of 23% in 2022.
  • In 2022, Asia Pacific dominated the market with the highest revenue share of 34.2%.
  • Europe region is expected to grow at a significant CAGR from 2023-2032.

Gas sensors help prevent the high risk of gas explosions and affecting any casualties within and outside the premises. The gas sensors market is driving rapidly owing to high sensitivity, high selectivity, and high stability.

Factors affecting the growth gas sensors market

Several factors can affect the growth of the gas sensors market. Some of these factors include:

  • Increasing use in industrial processes: The need for gas sensors in industrial processes is continuously increasing owing to monitoring and controlling the emission of hazardous gases.
  • Increasing use in Defence Application: Gas sensors have significant applications in TENT Protection System in defense which monitors breathable air quality for rapid movement of Army personnel in their forward camp.
  • The emergence of gas sensors in the HVAC Systems: The HVAC system provides fresh and pure indoor air by removing pollutants from the environment through proper ventilation. HVAC systems have large applications in manufacturing industries which use gas sensors to detect toxic gases in the environment.
  • High maintenance Cost: As gas sensors are advanced in technology, they require regular maintenance, for routine maintenance they require high cost. This has a negative impact on market growth.
  • Increasing demand in the medical field: Applications of gas sensors in machines such as oxygen monitors and analyzers, ventilators, and anesthesia machines in the medical sector drive the demand for gas sensors.

To understand how our report can bring a difference to your business strategy, Inquire about a brochure at https://market.us/report/gas-sensor-market/#inquiry

Top Trends in the Global Gas Sensors Market

Smart cities are started adopting IOT-based wireless gas sensors to detect air pollution levels and track gas combustion. With help of IOT gas sensors data on air quality can be collected, and analyzed in real time.

Industries where the emission of toxic gases is more, such industries are started adopting gas sensors technology for the safety and health concerns of workers.

To improve the safety and security of pipelines, operators around the world, developed drone-based gas leak detection systems based on gas sensors technology.

Market Growth

The market growth is propelled by increasing consumer awareness to improve air quality is driving the demand for gas sensors in applications like automotive and industrial.

Automotive manufacturers have started the production of vehicles with gas sensors to reduce the emission mechanism of hazardous gases driving the demand for gas sensors in automotive industries. With growing concerns regarding health and safety, the demand for oxygen gas sensors is increasing in the global market.

Regional Analysis

The gas sensors market was dominated by Asia Pacific, which acquired the most significant revenue share of 34.2% in 2022. Increasing urbanization in Asia pacific region resulted in increasing demand for gas sensors, owing to awareness of the health effects of air pollution. Also, investment in gas sensors in smart city projects in emerging economies such as India, China, and Japan in this region is high.

Europe region is anticipated to experience lucrative growth over the forecast period because of strict government regulations on the emission of gases.

Competitive Landscape

Current market conditions are characterized by intense competition among the market leaders for market dominance. Major key players started consolidation through strategic initiatives like mergers, alliances, and acquisitions to increase their businesses.

Some of the major players include ABB, AlphaSense Inc., Senseair AB, Trolex Ltd., Aeroqual Ltd., Emerson Electric Co., City Technology Ltd., Dynament Ltd., Figaro Engineering Inc., Membrapor, Nemoto & Co. Ltd., Robert Bosch LLC, and Other Key Players.

Have Queries? Speak to an expert, or To Download/Request a Sample, Click here.

Scope of the Report

Report Attribute Details
Market Value (2022) USD 2,549 Million
Market Size (2032) USD 5,302 million
CAGR (from 2023 to 2032) 7.8%
Asia Pacific Revenue Share 34.2%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

Rapid growth is being experienced by the growing demand for control of harmful emissions from manufacturing industries. The compulsory limit on emissions of gases from vehicles creates high demand to install gas sensors in automobiles which are driving the growth of the gas sensors market.

Market Restraints

Gas sensors are advanced in technologies, initial cost of gas sensors such as electrochemical gas sensors is very high and requires high maintenance costs, thus hampering the growth of the gas sensors market. Sometimes gas sensors are unable to detect hazardous gases, which leads to critical accidents in industries, and results in a negative impact on the growth of the gas sensors market.

Market Opportunities

The gas sensors market is expected to create growth opportunities due to growing manufacturing and refinery industries in several emerging economies such as Brazil, India, South Africa, and China. Recent advancements in the expansion of nanotechnology and wearable gas sensors are generating openings for the global gas sensors market growth.

Product Type Insight

Based on product type, the wired gas sensors segment is dominant in the market with the largest market share of 53%, and is expected to continue its dominance during the forecast period. Wired gas sensors provide significant benefits such as compact size, high accuracy, low maintenance, and low cost. The increasing use of wired gas sensors in civil applications is a key factor responsible for the growth of this segment.

Grow your profit margin with Market.us – Purchase This Premium Report at https://market.us/purchase-report/?report_id=55472

Gas Type Insight

On basis of gas type carbon dioxide gas sensor segment is dominant in the market with a market share of 32.5% and will remain dominant during the forecast period. The main purpose of carbon dioxide sensors is to monitor indoor air quality in buildings, homes, offices, automobiles, healthcare facilities, and other applications. Many companies are working to develop MEMS-based carbon dioxide sensors for various applications resulting in the growth of this segment.

Technology Insight

Based on technology electrochemical gas sensors segment was dominant in the market with the largest market revenue share of 23% in 2022. The demand for electrochemical gas sensors is increasing as electrochemical sensors consume less power, and offer specificity to target gas among the other gas sensors. Electrochemical technology easily detects toxic gas and vapor concentration with the oxidation of target gas.

End-Use Insight

Based on the end-use industrial segment was dominant in the market with the largest market share in 2022. Gas sensors have large applications in the detection of hazardous gases and vapors.

For more insights on the historical and Forecast market data from 2016 to 2032 – download a sample report at https://market.us/report/gas-sensor-market/request-sample/

Market Segmentation

Based on Product Type

  • Wired
  • Wireless

Based on the Gas Type

  • Oxygen
  • Carbon monoxide
  • Carbon dioxide
  • Hydrogen sulfide
  • Nitrogen oxide
  • Hydrogen
  • Others

Based on Technology

  • Electrochemical gas sensor
  • Semiconductor gas sensor
  • Solid state/MOS gas sensor
  • Photo-ionization detector sensor
  • Catalyst gas sensor
  • Infrared gas sensor
  • Laser gas sensor
  • Other gas sensors

Based on End-Use

  • Medical
  • Building automation & domestic appliances
  • Environmental, petrochemical
  • Automotive & Transportation
  • Industrial
  • Agriculture
  • Food & Beverages
  • Waste Water Treatment
  • Aerospace & Defense
  • Other End-Use.

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Key Market Players

  • ABB
  • AlphaSense Inc.
  • Senseair AB
  • Trolex Ltd.
  • Aeroqual Ltd.
  • Emerson Electric Co.
  • City Technology Ltd.
  • Dynament Ltd.
  • Figaro Engineering Inc.
  • Membrapor
  • Nemoto & Co. Ltd.
  • Robert Bosch LLC
  • Other key Players

Recent Development of the Gas Sensors Market

  • In March 2021, Robert Bosch GmbH company announced the release of the BME688 sensor. This sensor combines artificial intelligence with the ability to sense humidity, gas, temperature, and barometric pressure (AI). The BME688 can detect the presence of numerous gases in the part per billion (ppb) range, including VOCs, hydrogen, and carbon monoxide.
  • In January 2021, TDK Corporation introduced the TCE-11101 MEMS gas sensor platform. It is a small, lightweight, low-power, miniaturized device that measures carbon dioxide in homes, hospitals, automobiles, IoT, and other settings.

Browse More Related Reports:

About Us:

Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.

Follow Us on LinkedIn | Facebook | Twitter

Our Blog: 


GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

HKPC and HP Launch Joint Technology Centre in Hong Kong on Advanced 3D Printing

Published

on

hkpc-and-hp-launch-joint-technology-centre-in-hong-kong-on-advanced-3d-printing

HONG KONG, May 7, 2024 /PRNewswire/ — Hong Kong Productivity Council (HKPC) and HP signed a collaboration agreement (agreement) today to establish the HKPC-HP 3D Printing Technology Centre (Centre) in Hong Kong for application research development on additive manufacturing, also known as 3D printing. The Centre aims to become a pilot transformation base, applying advanced 3D printing technologies to empower various industries, sharpen their competitive edge, and foster the development of high-value strategic industrial chains. It will also accelerate Hong Kong’s pioneering effort in micro-factory and new industrialisation development, offering important references and inspiration worldwide in the pursuit of innovative and sustainable development.

The Centre will be located in the HKPC Building, being the first in Asia to be equipped with both HP’s research version of “Metal Jet” and “Multi Jet Fusion” industrial 3D printers. HP will bring advanced equipment and talent to support the operations of the Centre, and HKPC will contribute expertise in raw material development, process development, and smartification. Market research data estimate that the value of the 3D printing industry will reach US$186.4 billion by 2033, a significant increase from US$27.7 billion in 2023, indicating the immense market potential.
Clean, digitally powered 3D printing generates minimal waste and a minimal carbon footprint. This aligns with global goals of achieving green and sustainable development, while also promoting long-term economic growth through sustainable industries. At the same time, advanced 3D printing provides significant opportunities in strategic industries, such as healthtech, critical components, electronics, and more. In the future, the Centre, with its focus on customisation and precision, can be a game-changer in meeting the demand for hard-to-source parts, complex structures, patient-specific implants, and other tools. This will enable enterprises, especially small and medium enterprises (SMEs), to leverage advanced 3D printing technology and produce high-value, customised goods that can respond to market-specific demands in real-time, offering new levels of flexibility and efficiency that conventional factories are unable to meet.
In the ceremony, Professor Dong SUN, JP, Secretary for Innovation, Technology and Industry, HKSAR Government, said, “3D printing enables the development of more micro-factories in Hong Kong.  Compared to the traditional one, micro-factories require less land and materials, generate higher efficiency but less waste. This best suits Hong Kong’s condition, where land resources are limited and labour costs are relatively high. The establishment of this 3D printing technology centre is undoubtedly a good answer to show how we make use of state-of-the-art technology to promote advanced manufacturing and new industrialisation in Hong Kong. I am confident that Hong Kong’s manufacturing industry will reach new heights, and ‘Made in Hong Kong’ will continue to be a reputable and brilliant international brand. I look forward to more representative technology companies from all around the globe, such as HP to team up with our I&T quangoes, such as HKPC, bringing talents, technologies and machinery to Hong Kong to redefine Hong Kong’s manufacturing industry and drive high-quality economic growth.”  
Hon Sunny TAN, Chairman of HKPC, said, “We’re very pleased to form this research collaboration with HP, underscoring the confidence that global technology firms have in Hong Kong’s strengths in innovation. As an international innovation and technology centre, Hong Kong can be a paragon of the micro-factory city of the future that provides Hong Kong’s answer to develop new productive forces and set a fine example in Asia and across the globe to pursue innovation-driven, sustainable development. Hong Kong’s unique conditions make it particularly suitable for the development of micro-factories. The vibrant ecosystem in Hong Kong, combined with the robust supply chains in the Guangdong-Hong Kong-Macao Greater Bay Area, will provide an excellent pilot transformation base for the development of micro-factories, with significant implications for economies in Asia and worldwide.”
Mr Ramon PASTOR, Global Head of 3D Metals at HP Personalisation & 3D Printing, said, “It’s truly exciting to witness the launch of this collaborative effort between HKPC and HP, which aligns perfectly with our vision of leveraging Additive Manufacturing to drive industrialisation. This initiative not only showcases our dedication to technological advancement but also our shared vision for propelling industry innovation forward. HP believes in the immense potential of Hong Kong’s technology sector. We are also glad to bring in Pro-Technic Machinery Ltd. (Pro-Technic) to provide local support for our collaboration with HKPC.”
The Centre is planned to open in September, serving as a networking hub to promote closer collaboration among academia, research institutions and industries, empowering diverse sectors to grasp market trends. In addition to application development, the Centre will also provide consultancy and training services, driving advancements and propelling the 3D printing industry, as well as other industries utilising 3D printing technologies, forward.
About Hong Kong Productivity Council 
The Hong Kong Productivity Council (HKPC) is a multi-disciplinary organisation established by statute in 1967, to promote productivity excellence through relentless drive of world-class advanced technologies and innovative service offerings to support Hong Kong enterprises. Being a key enabler of Industry 4.0 and Enterprise 4.0, HKPC strives to facilitate new industrialisation in Hong Kong, as well as bolstering Hong Kong to be an international innovation and technology centre and a smart city. The Council offers comprehensive innovative solutions for Hong Kong industries and enterprises, enabling them to achieve resources and productivity utilisation, effectiveness and cost reduction, and enhance competitiveness in both local and overseas marketplace. The Council partners and collaborates with local industries and enterprises and world-class R&D institutes to develop applied technology solutions for value creation. It also benefits a variety of sectors through product innovation, technology transfer, and commercialisation, bringing enormous business opportunities ahead. HKPC’s world-class R&D achievements have been widely recognised over the years, winning an array of local and overseas accolades.   
In addition, HKPC offers SMEs and startups immediate and timely assistance in coping with the ever-changing business environment, and strengthens talent nurturing and Hong Kong’s competitiveness with FutureSkills training for enterprises and academia to enhance digital capabilities and TechEd competencies.
For more information, please visit HKPC’s website: www.hkpc.org/en.  
About HP
HP Inc. (NYSE: HPQ) is a global technology leader and creator of solutions that enable people to bring their ideas to life and connect to the things that matter most. Operating in more than 170 countries, HP delivers a wide range of innovative and sustainable devices, services and subscriptions for personal computing, printing, 3D printing, hybrid work, gaming, and more. For more information, please visit: http://www.hp.com.
Photo – https://mma.prnewswire.com/media/2406486/Photo_HKPC_and_HP_Launch_Joint_Technology_Centre_in_Hong_Kong_on_Advanced_3D_Printing.jpg

View original content:https://www.prnewswire.co.uk/news-releases/hkpc-and-hp-launch-joint-technology-centre-in-hong-kong-on-advanced-3d-printing-302138081.html

Continue Reading

Artificial Intelligence

ShipFlex from Locus Expands Global Carrier Network to Over 160 Carriers, Enhancing Multi-Carrier Parcel Management Capabilities

Published

on

shipflex-from-locus-expands-global-carrier-network-to-over-160-carriers,-enhancing-multi-carrier-parcel-management-capabilities

SAN FRANCISCO, May 7, 2024 /PRNewswire/ — Locus.sh, a global AI-powered integrated logistics management SaaS company, announced its global carrier network for ShipFlex (its innovative multi-carrier parcel management solution) now has over 160 carriers. This significant expansion reflects ShipFlex’s continued commitment to redefining flexibility and efficiency in logistics for shippers globally.

“By efficiently broadening our carrier network globally, ShipFlex stands out as a marketing-leading offering that has the agility to cater to shippers’ fulfillment needs across diverse geographies, industries, fulfillment models, and fleet types, among other variables crucial to shippers,” said Nishith Rastogi, Founder and CEO of Locus.
For retail, manufacturing, and consumer packaged goods (CPG) companies that outsource their deliveries, ShipFlex stands out as a powerful ally as it optimizes fulfilmment operations across captive, contracted, outsourced and even hybrid fleets. “These sectors prize end-to-end optimization of operations and costs to deliver exemplary customer experiences. By automating decision-making around selecting third-party delivery providers, ShipFlex empowers shippers to meet both current and future demands efficiently across diverse fleet types used by these industries,” added Rastogi.
ShipFlex automates multi-carrier deliveries tailored to specific business constraints regarding cost, speed, and efficiency. The platform simplifies the logistics of sourcing additional capacity and assigning shipments, all from a single dashboard.
The solution enhances dispatch flexibility with its capacity to integrate various carriers easily. It provides end-to-end visibility of the order journey, including real-time status updates and customer notifications, ensuring a top-notch post-purchase experience and minimizing delivery re-attempts.
About Locus
Locus’ order-to-delivery AI-powered dispatch and transport management software helps enterprises transform their logistics from cost centers to revenue generators through advanced optimization algorithms and intuitive workflow automation. Backed by GIC Singapore, Tiger Global, and Qualcomm Ventures, it has helped 200+ global customers across industries – Unilever, Nestle, BlueDart-DHL, etc. – execute over 1 billion deliveries across USA, Southeast Asia, the Middle East, and the Indian subcontinent.
www.locus.sh 
Photo: https://mma.prnewswire.com/media/2405170/ShipFlex.jpg Logo : https://mma.prnewswire.com/media/1832388/Locus_Logo.jpg
 

View original content:https://www.prnewswire.co.uk/news-releases/shipflex-from-locus-expands-global-carrier-network-to-over-160-carriers-enhancing-multi-carrier-parcel-management-capabilities-302136663.html

Continue Reading

Artificial Intelligence

Metacon and Siemens enter into collaboration for the manufacture of systems for green hydrogen production

Published

on

metacon-and-siemens-enter-into-collaboration-for-the-manufacture-of-systems-for-green-hydrogen-production

STOCKHOLM, May 7, 2024 /PRNewswire/ — Metacon AB (publ) and Siemens AB have signed a Memorandum of Understanding to enter into a partnership with the aim of accelerating the manufacturing of hydrogen production systems in Sweden, for the European market.

At the beginning of the year, Metacon announced that the company has been granted exclusive rights for the manufacture of complete electrolysis plants based on the partner PERIC’s world-leading technology for pressurized alkaline electrolysis modules (stacks). One of the key components of PERIC’s alkaline technology is efficient and proven 5 MW modules with over 10 years of operating data. Metacon also has access to the 10 MW module that PERIC recently launched and which today, in terms of power and production, is one of the world’s largest. The rights apply to most European countries and mean that Metacon can start from a proven technology that has been developed and refined for over 60 years, and make the adaptations required to match the requirements for safety and automation found in European standards for hydrogen production. With the exclusive right, Metacon now aims to become one of the market leaders in Europe for this type of large-scale hydrogen plants.
The joint MoU means that Siemens will become a technology partner to Metacon to contribute with its solid experience in delivering products, solutions and services in automation, power distribution, electrification, instrumentation, building technology and drives. Siemens will also be able to contribute with its wide range of digital services and software for optimisation, standardisation and simulation during both the manufacturing and operational phases of hydrogen plants.
“Hydrogen is an important piece of the puzzle in the industrial, energy and transport sectors to become CO2 neutral, and is the focus of Siemens’ global investment in Power-to-X. The partnership with Metacon marks a milestone in our quest to create a more sustainable world by, among other things, developing innovative solutions for the energy sector,” says Mikael Kraft, Head of Factory Automation and Sales at Siemens Digital Industries.
“Metacon has big plans for the investment in the manufacture and sale of large-scale electrolysis plants to, among others, the basic industry, the wind power sector and the transport sector in Europe. I have a hard time imagining a better partner on such a journey than Siemens. With its world-leading portfolio of technology, expertise and long-standing experience of similar projects, this partnership gives us the opportunity to both accelerate and optimize central parts of our unique Gigafactory project,” says Christer Wikner, CEO and President, Metacon.
For further information, please contact Christer Wikner, by phone 0707-647389 or e-mail [email protected]
About Metacon
Metacon AB (publ) develops and manufactures energy systems for the production of fossil-free “green” hydrogen. The products in the Reforming business area are based, among other things, on a patented technology that generates hydrogen through so-called catalytic steam reforming of biogas or other hydrocarbons. The development of Metacon’s reforming products is done within the wholly owned subsidiary Metacon S.A in Patras, Greece. The business is focused on catalytic process chemistry and advanced reformers for high-efficiency hydrogen production.
Metacon also offers complete electrolysis plants and integrated refueling stations for green hydrogen, a large and globally growing area for the production of green hydrogen. Electrolysis is a process of driving a chemical reaction to split water by adding electricity. If the electricity used is non-fossil, the hydrogen will also be fossil-free and climate-neutral. Green hydrogen can be used in sectors such as transport, basic industry and the real estate sector, with a better environment and climate as a result. www.metacon.com
About Siemens
Siemens AG (Berlin and Munich) is a technology company with a focus on industry, infrastructure, transport and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more convenient transportation and advanced healthcare, the company is developing technologies to create real value for customers and users. By combining the real and digital worlds, Siemens empowers its customers to transform their businesses and markets, helping them transform the lives of billions of people. Siemens owns a majority stake in the listed company Siemens Healthineers, a global leading medical device provider that is shaping the future of healthcare.
In the 2023 financial year ended September 30, 2023, the Siemens Group generated revenues of €77.8 billion and net profit of €8.5 billion. As of September 30, 2023, the company had approximately 320,000 employees worldwide. During the same period, Siemens in Sweden generated revenues of SEK 6.9 billion and employed approximately 1,500 people. For more information, see www.siemens.com and www.siemens.se. 
For more information see:www.metacon.com | X: @Metaconab | LinkedIn: www.linkedin.com/company/metaconab
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/metacon-ab/r/metacon-and-siemens-enter-into-collaboration-for-the-manufacture-of-systems-for-green-hydrogen-produ,c3974861
The following files are available for download:
https://mb.cision.com/Main/17030/3974861/2782927.pdf
PM Metacon Siemens en
 

View original content:https://www.prnewswire.co.uk/news-releases/metacon-and-siemens-enter-into-collaboration-for-the-manufacture-of-systems-for-green-hydrogen-production-302138039.html

Continue Reading

Trending