According to a new report, published by KBV research, The Global Volatile Organic Compound (VOC) Gas Sensor Market size is expected to reach $216.1 Million by 2029, rising at a market growth of 5.3% CAGR during the forecast period.
The Single Gas Detection Sensor segment is showcasing a CAGR of 5.9% during (2023 - 2029). Single gas detection sensors can recognize one gas at a time and are best for identifying flammable gases as well as other gases like butadiene, acetone, toluene, tetrachloroethylene, methylene chloride, xylene, and benzene. These sensors are mostly used in automotive applications. In addition, single gas detection sensors can identify the presence of gases in buildings or laboratories and calculate their concentrations.
The Oil & Gas segment is leading the Global Volatile Organic Compound (VOC) Gas Sensor Market by Application in 2022 thereby, achieving a market value of $61.4 Million by 2029. The oil and gas industry includes many different types of operations and machinery, from natural gas collecting lines and wells to processing plants, storage tanks, distribution networks, and transmission pipes. The sector is the source of the most VOC emissions out of all industrial sources. As a result, the usage of VOC gas sensors is expanding quickly for remote oversight of plant equipment as well as for tracking the environment around reservoirs, pipelines, and benzene leaks in real-time.
The Infrared-based Detection segment has shown the growth rate of 5.5% during (2023 - 2029). The segment's expansion is aided by the increased implementation of gas sensors for VOC in infrared gas detection systems. Utilizing infrared gas measuring technology is a very recent and contemporary method compared to previous technologies, and it is quickly gaining acceptance in industrial settings. Infrared spectroscopy can provide good selectivity by identifying specific chemical functional groups based on their unique absorption patterns. This enables the differentiation and identification of various VOCs.
The Asia Pacific market dominated the Global Volatile Organic Compound (VOC) Gas Sensor Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $74 Million by 2029. The Europe market is showcasing a CAGR of 4.9% during (2023 - 2029). Additionally, The North America market would exhibit a CAGR of 4.7% during (2023 - 2029).
Free Valuable Insights: The Worldwide Volatile Organic Compound (VOC) Gas Sensor Market is Projected to reach USD 216.1 Million by 2029, at a CAGR of 5.3%
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Honeywell International, Inc., Siemens AG, Alphasense, Inc., Bosch Sensortec GmbH (Robert Bosch GmbH), ABB Ltd, Renesas Electronics Corporation, Sensirion AG, Interlink Electronics, Inc. (KWJ Engineering, Inc.), SGX Sensortech (Amphenol Corporation), and ION Science Ltd.
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