Trusted Business Insights presents the Latest Study on Volatile Organic Compound Gas Sensor Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Global Volatile Organic Compound Gas Sensor Market
The global volatile organic compound gas sensor market size was valued at USD 141.7 million in 2018 and is expected to register a CAGR of 4.0% from 2019 to 2025. These sensors are used for measuring the concentration of various gases in their vicinity, such as ethene, benzene, methylene chloride, propane, acetone, and ethanol among others. Increasing awareness about air pollution is one of the key opportunity drivers for the market. The demand is expected to continue rising owing to the features such as detection of explosive or toxic gases at safe distances.
Increasing imposition of regulations and policies by government associations, such as the U.S. Environmental Protection Agency (EPA) and Mine Safety and Health Administration (MSHA), have resulted in the large-scale adoption in various industries. The volatile organic compound (VOC) sensors are compact in size and can be easily installed in harsh environments. Additionally, vendors are focusing on manufacturing products that are compact and have improved electronics and can provide real-time information regarding on-field activities.
At present, increasing awareness about indoor and outdoor air quality is driving the demand in industrial as well as private environmental monitoring. The efficiency of VOC gas sensors used in industrial applications is very low and consume more power at high temperature. Thus, the need for sensors with high accuracy and low power consumption is a critical driver for the current industrial sensor market.
New technologies, such as miniaturized Photo Ionization Detectors (PIDs) for measurement, Non-dispersive Infrared (NDIR) sensors for combustible gas, and additional types of substance-specific electrochemical sensors, are available for incorporation into multi-sensor portable instruments. VOC sensors are majorly used in the oil and gas industry to detect leaks on drilling platforms (upstream), pipelines, trailers and tanker vessels (midstream), and refining and storage facilities (downstream).
Developments in wireless sensors,miniaturized systems, and flexible electronics for consumer markets boost the growth. However, rise in the adoption of these wireless products with Internet of Things (IoT) may hamper the wired VOC gas sensor market in the forthcoming years.
Market Segmentation, Outlook & Viewpoint: Global Volatile Organic Compound Gas Sensor Market
Type Market Segmentation & Outlook (Revenue, USD Million; 2014 – 2025)
Single Gas Detection Sensor
Multiple Gas Detection Sensor
Technology Market Segmentation & Outlook (Revenue, USD Million; 2014 – 2025)
Photo-Ionization Detector (PID)
Application Market Segmentation & Outlook (Revenue, USD Million; 2014 – 2025)
Oil & Gas
Food & Beverages
Metals & Mining
Key Players, Recent Developments & Regional Insights: Global Volatile Organic Compound Gas Sensor Market
While production optimization remains the main focus for implementing sensors in oil and gas, health and safety are also important aspects. As a result, the use of VOC sensors is growing at a rapid pace for the real-time tracking of reservoir environment, monitoring of pipelines, monitoring of benzene leaks, and remote monitoring of plant equipment. In addition, technology developments in error tolerance, multi-node collaboration, and smart nodes are further driving growth of the volatile organic compound gas sensor market. Increasing demand for natural gas and petroleum has led to potential risks during production, such as exposure to toxic and combustible gases during extraction as well as gas leakage.
The food and beverage manufacturing industry is expected to witness rapid adoption of digital transformation and smart manufacturing initiatives in the forthcoming years. This growth is expected to arise from numerous food processing industry players that are functional across the value chain. Implementation of VOC sensors in food materials for the detection of VOC gases has, in turn, is anticipated to boost the product demand.
Europe led the market in 2018, attributed to increased IT investments and advancements in sensor technologies in the region. Growing demand for sensors that can be integrated into handheld devices has encouraged technological advancements. High focus of the governments on energy efficiency and emission control standards has resulted in the proliferation of VOC sensors in the automotive sector in Europe. The growth in end-use industries and increasing application avenues are also expected to be the major factors driving the regional growth.
Asia Pacific is anticipated to be the fastest-growing region owing to the increasing industrial automation in countries such as China, India, and Japan, where these sensors are largely used in chemical and petrochemical and oil and gas industries owing to their fast speed of response in case of a leakage of combustible gases.
Volatile Organic Compound Gas Sensor Market Share Insights
Prominent players leading the market includeAlphaSense; City Technology Ltd.;Bosch Sensortec; ABB Ltd; Siemens AG; Aeroqual Limited; SGX Sensortech; Integrated Device Technology, Inc.; EcoSensors; and GfG Europe Ltd. Majority of the players are manufacturing IR based VOC sensor above 1.8 microns as most gases such as butane, methylene chloride, propane, acetone, and combustible gases are absorbed at a wavelength ranging from 2.0 microns to 4.0 microns.
Sensor manufacturers focus on investing in R&D facilities with an aim to boost technology development.Key players have employed innovative concepts and ideas, improved manufacturing techniques, and enhanced their products and profitability to gain a competitive edge. They have adopted product launch as their key developmental strategy to cater to the demand from end users. Furthermore, they have undertaken acquisitions and business expansions to improve their product offerings and to boost the production process as well as to expand their sales into different geographies.
Key Insights Covered: Global Volatile Organic Compound Gas Sensor Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Volatile Organic Compound Gas Sensor industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Volatile Organic Compound Gas Sensor industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Volatile Organic Compound Gas Sensor industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Volatile Organic Compound Gas Sensor industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Volatile Organic Compound Gas Sensor industry.
Research Methodology: Global Volatile Organic Compound Gas Sensor Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
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This post was originally published on Space Market Research