Market Trends of Latin America Gas Sensors Industry
This section covers the major market trends shaping the Latin America Gas Sensors Market according to our research experts:
Increasing Demand in HVAC and Smart City Projects is Driving the Market Growth
- IoT-based wireless gas sensors are used in smart cities to detect air pollution, predict fire conditions, and track gas combustion, among other things. Using IoT gas sensors, air quality data can be collected, processed, and exchanged in real-time, potentially leading to healthier smart cities.
- One of the most critical components is gas detection in the HVAC system. The use of gas sensors in HVAC systems monitors toxic and combustible gases and alerts personnel when they reach a dangerous level.
- For example, gas sensors are increasingly being used in HVAC systems due to increased compliance with government regulations and increased concern about occupational health and safety, which drives the market growth of gas sensors.
- For instance, A new Harvard study presented a link between exposure to air pollution and severe cases of coronavirus. In April 2020, the Harvard T.H. Chan School of Public Health released data determining that an increase of 1 gram per cubic meter in the fine particulate matter in the air was connected with a 15 percent increase in the Covid-19 death rate.
- Resultantly, new government regulations for ventilation are among the protocols being put in place for commercial spaces. Additionally, special consideration must be given to the heating, ventilation, and air conditioning (HVAC) systems within the BPO setting. Trained and certified HVAC operators are to be employed for the proper monitoring and maintenance of all HVAC systems.
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The Automotive Segment to Hold Major Market Share
- Automotive vehicles hold one of the most significant shares for the rising emission levels in Latin America. The increase in the sale of vehicles in the Latin American region has led to increased emission levels.
- For instance, according to OICA, in 2020, the number of new vehicles registered or sold in Brazil and Argentina amounted to 2.058 million units and 0.33 million units, respectively. Further, according to the National Institute of Statistics and Geography, the number of motor vehicles in circulation in Mexico as of 2020 was 50.34 million units.
- The exhaust gas sensors measure the temperature of the exhaust gas and control the vehicle emissions. The engine control unit is in charge of these sensors. They prevent overheating of vehicle components located in the flow of exhaust gases and damage to vehicle components.
- Further, the Automotive Exhaust Gas Sensors market is rapidly approaching pre-COVID levels, and a healthy growth rate is expected over the forecast period, fueled by economic recovery in most regions. The frequent suspension of public transportation systems, combined with the virus's highly contagious nature, increased the demand for passenger cars, resulting in a demand for Automotive Exhaust Gas Sensors products.
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