Infrared Gas Sensor Market Expected to Reach $447 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Infrared Gas Sensor Market," The infrared gas sensor market size was valued at $198.60 million in 2021, and is estimated to reach $447 million by 2031, growing at a CAGR of 8.7% from 2022 to 2031.

Infrared gas sensors are smart electronic devices that are used for detection and identification of various types of combustible and non-combustible gases in an indoor or outdoor environment. The ndir gas sensor are interfaced with a control system, so it can detect a leakage and provide the initiating signal to shut down or raise an alarm. These infrared gas sensors are deployed in various end uses such as defense and military, industrial automotive among others.

The fixed type of gas detection segment was the highest contributor to the infrared gas sensor industry in 2021, owing to the advancement in IR sensors that promotes the usage of infrared technology for gas detection. In addition, the incorporation of IoT in infrared oxygen sensor has extended its penetration for industrial use.

In addition, industrial had significant market share in 2021, due to major deployment in industrial end use for detection of combustible gas leakages for safety and security. Further, penetration of IoT, artificial intelligence and machine learning in industries drives the market for infrared gas sensor. Morover, Asia-Pacific has major penetration of infrared gas sensors due to establishment of various industries such as oil & mining, construction, automotive manufacturing among others. The region includes China, Japan, India, South Korea, and rest of Asia-Pacific. Japan and China are technologically advanced countries, which exhibit high demand for infrared gas sensors. Emerging countries, such as India, are expected to drive the infrared gas sensor market growth. However, the other underdeveloped countries are expected to hamper the growth of the Asia-Pacific region.

The outbreak of COVID-19 has significantly impacted the growth of the global infrared gas sensor sector in 2020, owing to significant impact on prime players operating in the supply chain. On the contrary, the market was principally hit by several obstacles amid the COVID-19 pandemic, such as lack of skilled workforce availability and delay or cancelation of projects due to partial or complete lockdown, globally.

Country wise, China holds a significant share in the global infrared gas sensor market, owing to the presence of prime players. Major organizations and government institutions in the country are intensely putting resources into this global infrared gas sensor. These prime sectors have strengthened the growth of the global infrared gas sensor market analysis in the region.

KEY FINDINGS OF THE STUDY

• In 2021, the fixed segment accounted for maximum revenue, and is projected to grow at a notable CAGR during the forecast period.
• China contributed for the major share in the Infrared Gas Sensor Market Trends, accounting for highest revenue share in 2021.

The key infrared gas sensor market leaders profiled in the report include AlphaSense Inc., Dräger, Dynament, Senseair, SmartGAS, Figaro engineering.inc, Amphenol Corporation, Heimann, Honeywell International Inc. and SGX Sensor tech. These key players adopt several strategies such as new product launch and development, acquisition, partnership and collaboration and business expansion to increase the infrared gas sensor market share during the forecast period.