Global Gas Sensor Market Size & Outlook, 2023-2030
Global gas sensor market, 2018-2030 (US$M)
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Global gas sensor market highlights
- The global gas sensor market generated a revenue of USD 2,901.4 million in 2023 and is expected to reach USD 5,336.4 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 9.1% by 2030.
- In terms of segment, carbon dioxide (co2) sensors accounted for a revenue of USD 913.5 million in 2023.
- Nitrogen Oxide (NOx) Sensors is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 2,901.4 million |
| Market revenue in 2030 | USD 5,336.4 million |
| Growth rate | 9.1% (CAGR from 2023 to 2030) |
| Largest segment | Carbon dioxide (co2) sensors |
| Fastest growing segment | Nitrogen Oxide (NOx) Sensors |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Oxygen (O2)/Lambda Sensors, Carbon Dioxide (CO2) Sensors, Carbon Monoxide (CO) Sensors, Nitrogen Oxide (NOx) Sensors, Methyl Mercaptan Sensor |
Other key industry trends
- In terms of revenue, the North America accounted for 26.3% of the global gas sensor market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 1,049.3 million by 2030.
Carbon dioxide (co2) sensors was the largest segment with a revenue share of 31.48% in 2023. Horizon Databook has segmented the Global gas sensor market based on oxygen (o2)/lambda sensors, carbon dioxide (co2) sensors, carbon monoxide (co) sensors, nitrogen oxide (nox) sensors, methyl mercaptan sensor covering the revenue growth of each sub-segment from 2018 to 2030.
Various types of combustible and toxic gases used in industrial processes, such as H2S (Hydrogen Sulfide), NO2 (Nitrogen Dioxide), and others pose a high risk for workers in the vicinity. Therefore, it is important to continuously monitor the concentration of these gases in industrial environments to avoid mishaps.
The demand for gas sensors in order to ensure occupational health and safety is on the rise across numerous industry verticals, such as process and manufacturing industries. Regulatory initiatives in the developed markets of North America and Europe concerning the use of gas sensors are expected to favorably impact the market over the forecast period.
This can be attributed to the effectiveness of these devices in monitoring gas leakages and ensuring the safety and health of workers in hazardous work environments. Agencies and legislation promoting the use of gas sensors at the workplace include Occupational Safety and Health Administration (OSHA) that ensures safe and healthy work conditions for men and women in the U.S. and the Health and Safety at Work Act (HSWA) that focuses on occupational health and safety in the UK.
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Gas Sensor Market Scope
Gas Sensor Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global gas sensor market size, by regions, 2018-2030 (US$M)
Top 10 countries: Gas sensor market size, 2023 (US$M)
Global gas sensor market share, by product, 2023 & 2030 (%, US$M)
Gas sensor market: Opportunity assessment by country
Global gas sensor market, by region, 2023 (US$M)
| Product | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 561.2 | 595.3 | 625.1 | 666.3 | 712.2 | 763.9 | 822.6 | 889.6 | 963.0 | 1,045.4 | 1,139.4 | 1,245.8 | 1,366.4 | 8.7% |
| Europe | 646.2 | 680.3 | 718.1 | 760.3 | 807.6 | 861.3 | 922.6 | 993.2 | 1,070.4 | 1,157.3 | 1,257.0 | 1,369.9 | 1,498.3 | 8.2% |
| Asia Pacific | 633.6 | 684.2 | 740.8 | 804.5 | 876.7 | 959.0 | 1,053.8 | 1,163.6 | 1,286.8 | 1,427.8 | 1,591.2 | 1,725.5 | 1,880.9 | 10.1% |
| Latin America | 120.5 | 128.9 | 138.3 | 148.9 | 160.7 | 174.2 | 189.6 | 207.5 | 227.4 | 250.0 | 276.1 | 290.5 | 306.9 | 8.4% |
| MEA | 97.4 | 104.6 | 112.5 | 121.5 | 131.6 | 143.1 | 156.2 | 171.4 | 188.2 | 207.4 | 229.5 | 254.8 | 283.9 | 10.3% |
| Overall | 2,058.8 | 2,193.4 | 2,335.0 | 2,501.4 | 2,688.7 | 2,901.4 | 3,144.7 | 3,425.3 | 3,735.7 | 4,087.8 | 4,493.1 | 4,886.4 | 5,336.4 | 9.1% |
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