Global Infrared Gas Sensor Market Is Expected to Reach $447 Million by 2031: Says AMR
Propelling demand for infrared gas sensors in the HVAC system and rise in need for favorable government regulations regarding the use of infrared gas sensors drives the growth of the global infrared gas sensor market. By type, the fixed segment held the highest share in 2021. By region, Asia-Pacific would showcase the fastest CAGR by 2031.
Portland, OR, Feb. 02, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global infrared gas sensor market was estimated at $198.6 million in 2021 and is expected to hit $447 million by 2031, registering a CAGR of 8.7% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report Coverage & Details:
Market Size in 2021
Market Size in 2031
No. of Pages in Report
Type, Industry Vertical, and Region
Propelling demand for infrared gas sensors in the HVAC system
Rise in need for favorable government regulations regarding the use of infrared gas sensors
High initial cost and limitations in terms of distance between the target object and the emitter of the infrared gas sensor
Surge in trends towards internet of things (IoT)
The disrupted supply chain across the world hampered the electrical and electronics sectors negatively, which had a negative impact on the global infrared gas sensor market, especially during the initial phase. Also, lack of availability of workers and skilled professionals to develop infrared gas sensor solutions worsened the scenario even more.
However, a rise in the adoption of HVAC solutions has been witnessed on account-of the pandemic. This, in turn, is expected to boost the demand for infrared gas sensor market in the post-pandemic period.
The global infrared gas sensor market is analyzed across type, industry vertical, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
By type, the fixed segment held the largest share in 2021, garnering around over half of the global infrared gas sensor market revenue, and is projected to maintain its dominance by 2031. It is also expected to showcase the faster CAGR of 9.15% during the forecast period.
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By industry vertical, the industrial segment contributed just over one-fourth of the global infrared gas sensor market share in 2021, and is projected to remain dominant by 2031. The healthcare segment, however, would display the fastest CAGR of 12.03% throughout the forecast period.
By region, Asia-Pacific held the major share in 2021, garnering nearly half of the global infrared gas sensor market revenue. The same region would also showcase the fastest CAGR of 9.53% from 2022 to 2031. The other provinces studied through the report include Europe, North America, and LAMEA.
The key market players analyzed in the global infrared gas sensor market report include AlphaSense Inc., Dräger, Dynament, Senseair, SmartGAS, Figaro Engineering Inc, Amphenol Corporation, Heimann, Honeywell International Inc. and SGX Sensor Tech.
These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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Key Benefits for Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the infrared gas sensor market analysis from 2021 to 2031 to identify the prevailing infrared gas sensor market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the infrared gas sensor market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global infrared gas sensor market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
Defense and Military
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