USD 178.40 Million
Report ID:
SQMIG10A2047 |
Region:
Global |
Published Date: November, 2024
Pages:
181
|Tables:
119
|Figures:
76
Volatile Organic Compound Gas Sensor Market size was valued at USD 191.24 Million in 2023 and is poised to grow from USD 205.01 Million in 2024 to USD 357.54 Million by 2032, growing at a CAGR of 7.2% during the forecast period (2025-2032).
Increased use of volatile organic compounds to detect and measure harmful VOCs in air is a key driver for market growth. Volatile chemical emissions come from various sources, such as fuel emissions and transportation temperature, and exhaust gases from furniture, buildings materials and cleaning products. Increasing VOC gas sensors in unit monitoring devices. The application is going to drive the market growth due to their unique characteristics, such as the ability to provide accurate sensing results, small and portable design, and compact size.
The widespread adoption of VOC gas sensors in various industries can be attributed to the various rules and regulations adopted by government agencies such as the Mine Safety and Health Administration (MSHA) and the U.S. Department of Energy. The Environmental Protection Agency (EPA) uses it as the most standard for volatile organic compounds emissions. Additionally, Canada issued volatile organic compound quantity limit regulations for certain products on February 5, 2022, requiring importers and manufacturers to label products with VOCs up to 130 units in small products and categories -It is mandatory to comply with the limit. This in turn leads to demand for VOC gas sensors in various end-use industries.
Global Market Size
USD 178.40 Million
Largest Segment
Multiple Gas Detection
Fastest Growth
Single Gas Detection
Growth Rate
7.2% CAGR
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Global Volatile Organic Compound Gas Sensor Market is segmented by Type, Technology, Application and region. Based on Type, the market is segmented into Single Gas Detection Sensor, Multiple Gas Detection Sensor. Based on Technology, the market is segmented into Photo-Ionization Detector (PID), Infrared-based detection, Metal-oxide Semiconductor, Others. Based on Application, the market is segmented into Oil & Gas, Agriculture, Automotive, Chemical Industry, Manufacturing, Food & Beverages, Metals & Mining, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Application
The oil and gas segment dominated the market accounting for more than 31.0% of the market in 2022. In the oil and gas industry, the network consists of operations and equipment ranging from wells and natural gas gathering to processing facilities, water supply through water, water storage and distribution. The department is responsible for the largest emissions of VOCs among all industries. As a result, VOC and gas sensors are used for real-time monitoring of the reservoir environment, monitoring of benzene leaks, monitoring of pipelines and remotely used to monitor factory equipment is growing rapidly Prospects. Thus, the increasing use of VOC gas sensors for detection of toxic gases fuels the growth of the segment.
The food and beverage segment is expected to expand at the highest CAGR during the forecast period. The food and beverage industry are expected to witness a rapid adoption of digital transformation and smart services in the coming years. VOC gas sensors are used in industry to detect and measure the presence of gases emitted during food processing and storage.
Analysis by Type
The multigas detection sensor segment dominated the market accounted for over 65.0% of the global revenue in 2022. The most widely used low-cost portable multi-gas detection sensors for monitoring pipeline performance and range detection in the oil and gas industry produce such gases as benzene, methylene chloride, perchloroethylene, and formaldehyde. In addition, these materials are used as high-performance VOC analyzers to detect leaks in a variety of components such as pumps, valves, compressors, connectors and open-end lines.
The single gas detection sensor segment is expected to expand at the highest CAGR during the forecast period. Single gas detectors used primarily in automotive applications can detect one gas at a time and are ideal for combustion gases, as well as other gases such as butadiene, acetone, toluene, xylene, tetrachlorethylene, methylene chloride, benzene etc. Single sensor sensors are ideally designed for detection and concentration of air in factories or laboratories. These detectors effectively alert workers to the presence of hazardous gases, ensuring safety in such indoor environments.
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Asia Pacific region dominated the market and accounted for over 32.0% of global revenue in 2022. The region is expected to expand at the highest CAGR during the forecast period. The market growth can be attributed to the increasing demand for environmental and technological assessment solutions across the region. The region includes many emerging countries such as India, Japan, Australia, Taiwan, which witness rapid urbanization and industrialization, resulting in high levels of air pollution and environmental degradation. Demand for gas sensors, increasing in applications including automotive and vehicle manufacturing. Increasing adoption of IoT and smart technologies in the industry for air quality monitoring and pollution control across industries is also driving the growth of the global volatile organic compound gas sensor market.
North America is expected to grow at the significant CAGR. The global volatile organic compound gas sensor market is subject to regional changes driven by factors such as industrial activity, regulatory framework, and economic growth. The US, due to its large industrial base and regulations aimed at curbing VOC emissions, has invested heavily in technologies to reduce VOC emissions under environmental compliance requirements.
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Drivers
Rising integration of the Internet of Things
Stricter Environmental Regulations
Restraints
Health and Environmental Issues
Cost Implications
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The competitive environment of the Global Volatile Organic Compound Gas Sensor Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Established organizations within the industry leverage techniques inclusive of product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. Additionally, the market is witnessing elevated opposition from local and neighborhood producers supplying cost-powerful options.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global volatile organic compound gas sensor market has experienced tremendous growth in recent years, driven by numerous factors that determine its importance in various industries and classify VOCs as naturally occurring chemicals that are less volatile in the atmosphere, and contributes to air pollution and potential health hazards. The global market aims to monitor and control the emissions of these chemicals, promoting environmental sustainability and human well-being. The major factors driving the expansion of the global market are increasing awareness of air quality standards overall. Globally, stringent regulations and government environmental agencies are adopting measures to curb VOC emissions. They are increasingly demanding technologies and supporting materials VOC reduction.
However, the market faces significant restraining factors, including high costs associated with advanced VOC reduction technologies and complex VOC removal from industrial products, challenges in the market also come from various sources, such as industrial and furniture, transportation, household appliances and furthermore, VOC heterogeneity adds complexity to monitoring and control efforts. However, these challenges are driving R&D activity in the market, creating opportunities for the development of new products and cost-effective solutions.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 178.40 Million |
Market size value in 2031 | USD 333.53 Million |
Growth Rate | 7.2% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Volatile Organic Compound Gas Sensor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Volatile Organic Compound Gas Sensor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Volatile Organic Compound Gas Sensor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Volatile Organic Compound Gas Sensor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
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Report ID: SQMIG10A2047
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