Rising demand for plant safety in various industries such as mining, petrochemical, oil and gas, automotive, and others, accompanied by rising concern for personnel safety worldwide has paved the way to the growing deployment of gas sensors and gas analysers at the industrial facilities. The growing awareness of gas-related dangers at the workplace and the requisite to ensure the safe and sound industrial environment is catapulting the growth of the gas sensor and analyser market. As per the statistics by U.S. Environmental Protection Agency (EPA), around 75% of methane emissions are produced as a result of coal mining, and it is estimated to be 589 million metric tons of carbon dioxide equivalent (MtCO2e) in 2010 and is projected to reach 784 MtCO2e by 2030. Owing to this, the EPA has mandated mining industries to use sophisticated equipment such as gas sensors and gas analyers to minimize the emission rates. This regulation facilitated the decrease of methane emission 16% in 2015 to 9% in 2017, and this aspect has instigated the use of gas sensors and gas analysers in the mining industry. Moreover, methane emissions from wastewater treatment are estimated to be over 500 MtCO2e in 2010 and projected to reach 550 million metric tons by 2019 and another 10% by 2030. However, according to the EPA, the implementation of gas sensors, gas analysers, and other related technologies in this industry, can decrease the total non-CO2 equivalents by 218 MtCO2e by 2030. These are the prime factors creating an unprecedented endorsement for gas sensors and gas analysers.
Emergence of Industry 4.0 Revolution: Prime Impetus for the Growth of Gas Sensors Market—
Moreover, the emergence of Industry 4.0 for real-time data monitoring and process control is propelling the demand for smart gas sensors and analysers owing to their efficient process control and enhanced performance. Gas sensors and analysers integrated with smart technologies such as wireless connectivity, Internet of Things (IoT) and artificial intelligence coupled with rising popularity for miniaturization of electronic devices is likely to create growth avenues for the gas sensors and analysers market. The technological advancements in the market led to the development of several novel gas sensing technologies such as flexible printed gas sensors, wearable gas sensors, carbon nanotubes, e-nose gas sensors, and zeolites. With the rising regulations and mandates pertaining to the harmful emission control and monitoring, gas sensors, and gas analysers, which can facilitate sensing and process control function are gaining momentum. The gas sensor and analyser market has been evaluated to reach a remarkable size of $3 billion in 2018. In line with the rapid adoption of smart gas sensors in the majority of the smart industries to ensure occupational health and safety of workers, the Gas Sensors and Analysers Market size is projected to grow at a healthy CAGR of 5.2% during the forecast period of 2019 to 2025.
Gas Analyser Market Gaining Hefty Demand Due to Growing Concern on Deteriorating Air Quality—
On the back of rapid industrialization and urbanization, there has been radical growth in air pollution globally. According to the statistics by World Health Organization (WHO), 91% of the world's population lives in areas that exceed the permissible limits, and it is estimated that around 4.2 million deaths occur every year as a consequence of exposure to outdoor air pollution. As a result, environmental organizations globally have been working on addressing the growing concerns regarding deteriorating air quality. Moreover, growing awareness of air pollution has resulted in government implying stringent laws and regulations. These factors have led to the adoption of environmental monitoring equipment, such as gas sensors and gas analysers. Thus the growing concern regarding increasing air pollution is the prime impetus propelling the growth of the global gas sensor and analyser market.
APAC Region: A Lucrative Marketplace for Gas Sensors Market—
Geographically, APAC is leading the global gas sensor and analyser market in terms of revenue share, and held 33.2% in 2018. This is mainly attributed to the increasing air pollution levels in the major emerging economies India and China owing to the rapid industrialization coupled with the presence of a large number of manufacturing plants. The government regulations pertaining to air pollution control in these countries has instigated several industries to deploy air pollution control and monitoring devices such as gas sensors and gas analysers. Moreover, technological advancements in this region development of miniaturized, high efficient, and wireless gas sensors in reasonable prices have fuelled the growth of gas sensor and analyser market in this region.
The Growing Oil and Gas, and Chemical Industries Increasing the Gas Analysers Market Size—
On the basis of end-use applications, oil and gas and chemical industries are perceived to generate maximum shares for the global gas sensor and gas analyser market. This is directly attributed to the perpetual growth in oil and gas and chemical industries worldwide along with the growing potential for air emissions. For instance, the number of oil and gas producing wells increased from 735,000 in 2000 to a high of 1,039,000 wells in 2014, in the US, as per the statistics by US Energy Information Administration. It is anticipated that the number of gas and oil wells will continue to increase substantially in the future because of the continued and expanding use of horizontal drilling combined with hydraulic fracturing. Due to the growth of this sector and the potential for increased air emissions, it is important to mitigate the potential sources of gas leakage. The necessity to detect the gas leakage in the booming oil and gas industry is upheaving the demand for gas sensors and gas analysers. Moreover, the flourishing chemical industries, in order to facilitate safe working environments, have adopted the usage of sophisticated gas sensors and gas analysers to detect chemicals and hazardous substances. Growth in the chemical industry can be fathomed by the increasing trade of organic chemicals across the globe. According to the International Trade Centre (ITC), the trade value of organic chemicals was estimated to be $487 billion in 2018. Thus the oil and gas and chemical industries are the key application segments creating growth opportunities for the gas sensor and analyser market. Therefore the key application segment is projected to prosper at a CAGR of 3.2% through to 2025.
Gas Sensor and Analyser Market: Major Players
The major players in the gas sensor and analyser market include GE Measurement & Control, Emerson Electric, Yokogawa Electric Corporation, Robert Bosch, Figaro Engineering Inc., Rockwell Automation Inc., Trolex Ltd and Testo AG, Dr.gerwerk AG & Co. KGaA, and ABB Ltd. These companies are continuously focusing on research and development activities, acquisitions, collaborations, agreements, and partnerships to strengthen their product portfolio and thereby gain grounds in the market.
· For instance, in Jan 2019, Firago Engineering Inc. introduced its innovative digital TGS8101 IAQ sensor. It is an ultra-compact sensor capable of sensing for gas, relative humidity, and temperature. The gas sensor consists of a metal oxide compound on a micro hot plate assembled for elevated operating temperatures that make it possible to sense Volatile organic compounds and alcohol gas.
· ABB Ltd., another prominent company launched drone-based gas leak sensor, “Ability™ mobile gas leak detection systems” with a sensitivity 1000 times higher than conventional leak detectors, in 2019.
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