Market Size of Oxygen Gas Sensors Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 1.39 Billion |
Market Size (2029) | USD 1.76 Billion |
CAGR (2024 - 2029) | 4.76 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Oxygen Gas Sensors Market Analysis
The Oxygen Gas Sensors Market size is estimated at USD 1.39 billion in 2024, and is expected to reach USD 1.76 billion by 2029, growing at a CAGR of 4.76% during the forecast period (2024-2029).
- The ability to reliably measure oxygen concentration or partial pressure and warn about abnormal conditions is critical in industrial safety environments, such as mines, oil production facilities, and chemical plants. This helps in driving the growth of the market.
- The growth in the market can be attributed to the rising demand for oxygen gas sensors in a range of applications, including medical, automotive, and industrial sectors. Also, the increasing number of applications for oxygen sensors, coupled with rapid technological advancements in sensing technologies. Furthermore, the increasing awareness regarding safety and security is also driving the growth of this market.
- Moreover, environmental concerns play a crucial role in driving the growth of oxygen gas sensors. It is known that dissolved oxygen is a critical requirement for the maintenance of balanced populations of shellfish, fish, and other aquatic organisms in both estuarine and nearshore coastal waters. Various projects have been and are expected to be implemented to measure the dissolved oxygen in the water. Furthermore, ammonia, ozone, and chlorine are all toxic gases used in the decontamination stage of wastewater treatment and water purification plants. Such factors will boost the demand for oxygen gas sensors.
- Furthermore, applications ranging from adjusting the air-fuel ratio in automobiles to controlling industrial processes increasingly demand oxygen sensors, as ascertaining oxygen levels accurately is essential. For instance, in August 2022, Premier Auto Trade announced a significant expansion to its Oxygen and Air Fuel Ratio Sensors range. The PAT range now includes over 800 Direct Fit Oxygen Sensors for petrol, LPG, and diesel vehicles with a spread across Japanese, Korean, USA, and European manufacturers. This covers over 14 million vehicle applications in Australia and New Zealand, making it the most extensive range in the Australian Aftermarket.
- For instance, in August 2022, a Maharashtra Startup Got INR 32.9 million (USD 0.40 million) support from the Government for Indigenous Development of Hydrogen Gas Detecting Technology. Multi Nano Sense Technologies signed a memorandum of understanding (MoU) Technology Development Board under DST for the indigenous development of hydrogen sensing and analysis technology.
- Also, the medical application of these oxygen gas sensors is expected to experience rapid growth due to a rising need for precise devices that can measure low levels of oxygen in hospitals and other healthcare facilities. These devices are utilized for monitoring patients who have hypoxic or anoxic injuries, as well as those experiencing cardiopulmonary arrest. Additionally, they are also employed in non-invasive ventilation procedures for patients with respiratory disorders like asthma or chronic obstructive pulmonary disease (COPD).
- Companies are rolling out new products lately to remain competitive in the market. Further, Crowcon Detection Instruments Ltd launched a long-life oxygen sensor in its Gasman portable gas detector. The new sensor has an extended lifespan, which reduces the total cost of ownership and is also completely free of lead, helping organizations to comply with imminent changes to the restriction of hazardous substances (RoHS) regulations and reducing harm to the environment.
Oxygen Gas Sensors Industry Segmentation
An oxygen sensor is an electronic device that measures the proportion of oxygen (O2) in the gas or liquid being analyzed. The most common application is to measure the exhaust-gas oxygen concentration for internal combustion engines in automobiles and other vehicles to calculate and, if required, dynamically adjust the air-fuel ratio so that catalytic converters can work optimally. It is also used to determine whether the converter is performing correctly.
The oxygen gas sensors market is segmented by type (potentiometric, amperometric, resistive, and other types), technology (infrared, catalytic, and other technologies), end-user industry (chemical and petrochemical, automotive, medical, and life sciences, industrial, water and wastewater, smart buildings, and other end-user industries), and geography (North America, Latin America, Europe, Asia-Pacific, and Middle East and Africa)
The market sizes and forecasts are provided in value (USD) for all the above segments.
By Type | |
Potentiometric | |
Amperometric | |
Resistive | |
Other Types |
By Technology | |
Infrared | |
Catalytic | |
Other Technologies |
By End-User Industry | |
Chemical and Petrochemical | |
Automotive | |
Medical and Life Sciences | |
Industrial | |
Water and Wastewater | |
Smart Buildings | |
Other End-User Industries |
By Geography | |||||||
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Oxygen Gas Sensors Market Size Summary
The oxygen gas sensor market is poised for steady growth, driven by its critical role in ensuring safety across various industrial environments such as mines, oil production facilities, and chemical plants. The demand for these sensors is expanding across multiple sectors, including medical, automotive, and industrial applications, due to their ability to accurately measure oxygen levels and detect abnormal conditions. Technological advancements and increasing awareness of safety and environmental concerns further bolster market expansion. The sensors are essential in maintaining ecological balance in aquatic environments and are increasingly used in wastewater treatment processes. The automotive sector, in particular, is a significant driver, with stringent emission regulations and the growing need for retrofitting vintage vehicles creating substantial opportunities for market players.
The market landscape is characterized by a high degree of fragmentation, with numerous players and low entry barriers fostering competition and innovation. Key industry participants are actively engaging in strategic partnerships and product development to enhance their market presence. Recent advancements include the introduction of long-life sensors and innovative solutions for precise oxygen measurement in various applications, from automotive exhaust systems to healthcare facilities. The market's growth is further supported by government initiatives and investments in the automotive and industrial sectors, particularly in regions like India and China. As the demand for oxygen sensors continues to rise, driven by regulatory requirements and technological advancements, the market is expected to witness sustained growth in the coming years.
Oxygen Gas Sensors Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Introduction to Market Drivers and Restraints
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1.3 Market Drivers
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1.3.1 Government Regulations to Ensure Safety in Work Places
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1.4 Market Restraints
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1.4.1 Lack of Awareness of Applications and Usage of Oxygen Sensors in SMEs
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1.5 Value Chain Analysis
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1.6 Industry Attractiveness - Porter's Five Forces Analysis
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1.6.1 Threat of New Entrants
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1.6.2 Bargaining Power of Buyers
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1.6.3 Bargaining Power of Suppliers
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1.6.4 Threat of Substitute Products
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1.6.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Potentiometric
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2.1.2 Amperometric
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2.1.3 Resistive
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2.1.4 Other Types
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2.2 By Technology
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2.2.1 Infrared
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2.2.2 Catalytic
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2.2.3 Other Technologies
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2.3 By End-User Industry
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2.3.1 Chemical and Petrochemical
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2.3.2 Automotive
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2.3.3 Medical and Life Sciences
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2.3.4 Industrial
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2.3.5 Water and Wastewater
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2.3.6 Smart Buildings
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2.3.7 Other End-User Industries
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2.4 By Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Russia
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2.4.3 Asia
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 South Korea
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2.4.3.5 Australia and New Zealand
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2.4.4 Latin America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Mexico
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2.4.5 Middle East and Africa
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2.4.5.1 United Arab Emirates
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2.4.5.2 Saudi Arabia
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2.4.5.3 South Africa
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Oxygen Gas Sensors Market Size FAQs
How big is the Oxygen Gas Sensors Market?
The Oxygen Gas Sensors Market size is expected to reach USD 1.39 billion in 2024 and grow at a CAGR of 4.76% to reach USD 1.76 billion by 2029.
What is the current Oxygen Gas Sensors Market size?
In 2024, the Oxygen Gas Sensors Market size is expected to reach USD 1.39 billion.