Global
Chemical Sensor Market by Type (Optical Sensor, Electrochemical sensor,
Catalytic Bead) - Global Forecast to 2024
Market Size and Forecast
The global
chemical sensors market is expected to expand at a CAGR of 8.1% over the
forecast period i.e. 2017-2024. Further, chemical
sensors market is anticipated to reach USD 40.8 billion globally by 2024.
Moreover, growing adoption of chemical sensors by industrial sector and rise in
demand for testing and monitoring solutions from healthcare sector are
envisioned to bolster the growth of chemical sensors market across the globe.
Automotive and oil and gas sector by end user is the fastest growing segment in
overall chemical
sensor market.
In terms
of geography, North America is the largest market in terms of revenue share in
overall chemical sensors market. Further, this region is expected to continue
its dominance by the end of 2024. The market of chemical sensors is majorly
driven on the back of rising demand for quick and accurate diagnosis in medical
sector. Likely, U.S. holds the largest market share in chemical sensors owing
to the increasing research activities in this region.
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Asia-Pacific
region hold the second largest chemical sensors market. Further, Asia-Pacific
is expected to showcase a highest CAGR of 10.2% during the forecast period. The
major countries witnessing the augmented demand for chemical sensors include
China, India and Japan. Further, China is the dominating country in this region
owing to the growing application of chemical sensors in various factors such as
food and beverages and oil and gas. Moreover, penetration of major vendors into
the Asia-Pacific chemical sensors market is envisioned to bolster the growth of
chemical sensors market in this region. Europe region is also estimated to
showcase a tremendous growth over the forecast period owing to the presence of
large number of established manufacturing industries.
Market Segmentation
Our
in-depth analysis segmented the global chemical sensors market in the following
segments:
By Type
·
Optical
Sensor
·
Electrochemical
sensor
·
Catalytic
Bead
·
Others
By End User
·
Automotive
·
Defense
and Military
·
Environmental
Monitoring
·
Aerospace
·
Oil
& Gas
·
Healthcare
·
Industrial
·
Others
By Region
Global
chemical sensors market is further classified on the basis of region as
follows:
·
North
America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity
Analysis
o (Brazil, Mexico, Rest of Latin
America) Market size, Y-O-Y growth & Opportunity Analysis
·
Europe
(U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands &
Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity
Analysis
·
Asia-Pacific
(China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market
size, Y-O-Y growth & Opportunity Analysis
·
Middle
East and Africa (GCC, South Africa, North Africa) Market size, Y-O-Y growth
& Opportunity Analysis
Growth Drivers and Challenges
Rising
demand for quick and accurate monitoring systems and growing adoption of
technologically advanced devices by various sectors such as oil and gas, food
and beverages, automotive and other are envisioned to flourish the growth of
chemical sensors market across the globe. Further, growing usage of chemical
sensors in house monitoring purposes is also expected to boost the demand for
chemical sensors.
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Moreover,
integration of chemical sensors in electronics and computers are projected to
be the major factor behind the growth of chemical sensor market. Likely,
increasing integration of various features in vehicles is expected to fuel the
demand for chemical sensors. Mounting demand for chemical sensors for safety
purposes in industrial sector and for environmental monitoring programs is also
anticipated to foster the growth of chemical sensor market. In addition to
this, increase in global energy usage and unwanted release of pollutants has
led to a serious focus on advanced monitoring technologies for environmental
protection, remediation, and restoration.
However,
lack of awareness and less adoption of chemical sensors are expected to dampen
the growth of chemical sensor market.
Key players
The major
key players for chemical sensors market are as follows
·
ABB
Group
o Company Overview
o Key Product Offerings
o Business Strategy
o SWOT Analysis
o Financials
·
Delphi
Automotive PLC.
·
Alpha
MOS
·
The
Bosch Group
·
Emerson
Electric
·
Denso
Corporation
·
Halma
plc.
·
Siemens
AG
·
F.
Hoffmann-La Roche Ltd
·
Yokogawa
Electric Corporation
Scope and Context
Overview
of the Parent Market
Analyst
View
Segmentation
The global
chemical sensors market is segmented as follows:
·
By
Type Market Size & Y-O-Y Growth Analysis
·
By
End User Market Size & Y-O-Y Growth Analysis
·
By
Region Market Size & Y-O-Y Growth Analysis
Market
Dynamics
Supply
& Demand Risk
Competitive
Landscape
Porter’s
Five Force Model
Geographical
Economic Activity
Key
Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent
Trends and Developments
Industry
Growth Drivers and Challenges
Key
Information for Players to establish themselves in current dynamic environment
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