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Gas Sensor Market Size
- Report ID: GMI123
- Published Date: Apr 2023
- Report Format: PDF
Gas Sensor Market Size
Gas Sensor Market size was worth more than USD 2 billion in 2022 and is expected to record over 8% CAGR from 2023-2032. Rising demand for autonomous vehicles is anticipated to have a positive impact on the gas sensors industry outlook.
The advent of driverless/self-driving vehicles has gained massive momentum in the recent past given the rapid shift in consumer preference from conventional automobiles to modern vehicles featuring AI modalities and advanced algorithms. Autonomous vehicles are embedded with gas sensors to optimize safety and efficiency across operations. These sensors play a key role in monitoring and maintaining air quality by detecting the presence of gases toxic to passengers as well as the environment, thus amplifying product demand.
Several automobile giants are investing heavily to scale up the manufacturing of driverless vehicle systems, propelling the demand for gas sensors. For instance, in October 2022, Volkswagen AG announced plans to invest USD 2.3 billion in a new autonomous driving joint initiative with China’s Horizon Robotics Inc. to manufacture automated & assisted driving systems.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Gas Sensor Market Size in 2022: | USD 2 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 8% |
| 2032 Value Projection: | USD 5 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 148 |
| Tables, Charts & Figures: | 558 |
| Segments covered: | Product, Technology, Connectivity, Application and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Gas Sensor Market Scope
