Despite making a promising start to their Championship campaign, Gray believes that he must increase competition for places, and is hoping to use the loan market to sign another attacking player.
"I want someone who knows the Championship and knows what is required," the Owls boss told the Sheffield Star.
"I want someone to come in and have an impact on the squad. It's got to be the right one. I have to bring someone in who is hungry and wants to put a shift in.
"I just feel in certain games, if we are playing Saturday, Tuesday, Saturday that you can't ask the same two players to play all the time."
Gray's side return to action against Watford on Saturday afternoon.