Theoretical basis of Lamb wave transducers (LWT) for gas and liquid sensing is developed systematically. Two basic types of transduction mechanisms, piezoelectric and electrostatic, are discussed. A model for capacitive LWTs with second-order bending mode excitation is further developed. A design with a 100 nm thick silicon plate shows GHz resonance frequency and zg mass resolution, which is comparable with nanomechanical resonators using cantilevers and doubly clamped beams.