Chemical
sensor is referred to a device that transforms chemical information into
analytical signals. Chemical sensors are widely used by various sectors such as
automotive industry, healthcare and others. Chemical sensors are also helpful
to monitor environmental pollution. It usually contains two basic components, a
chemical recognition system and a physicochemical transducer.
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.
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
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.
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.
This
report also provides the existing competitive scenario of some of the key
players of the global chemical sensor market
which includes company profiling of ABB Group,
Delphi Automotive PLC., Alpha MOS, The Bosch Group, Emerson Electric, Denso
Corporation, Halma plc., Siemens AG, F. Hoffmann-La Roche Ltd and Yokogawa
Electric Corporation. The profiling enfolds key information of the
companies which encompasses business overview, products and services, key
financials and recent news and developments. On the whole, the report depicts
detailed overview of the global chemical
sensor market that will help industry consultants, equipment
manufacturers, existing players searching for expansion opportunities, new
players searching possibilities and other stakeholders to align their market
centric strategies according to the ongoing and expected trends in the future.
About
Research Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
To know more about this
research, kindly visit: https://www.researchnester.com/reports/chemical-sensors-market-global-demand-analysis-opportunity-outlook-2024/381
Contact for more
Info:
Ajay
Daniel
U.S.
+1 646 586 9123
U.K.
+44 203 608 5919
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