Chemical Sensors Market - Product Innovation Permits Extensive Application Across Industries
Chemical Sensors Market (Type - Optical Sensor, Electrochemical, and Catalytic Bead; by End User - Oil and Gas, Automotive, Medical, Environmental Monitoring, and Industrial) - Global Industry Analysis Size Share Growth Trends and Forecast 2016 - 2024
Albany, NY -- (SBWire) -- 01/23/2017 --Global Chemical Sensors Market: Snapshot
Increasing advancement in medical, industrial, and automotive sectors is one of the prime reasons for increasing application of chemical sensors. Growing concerns about environmental pollution and increasing number of government initiatives to control the emission is fueling the demand for chemical sensors in different regions worldwide. Detecting harmful gases and chemicals in order to avoid any kind of unwanted hazard is one of the major objectives for increasing application of chemical sensors in the oil & gas sector. The application of oxygen sensors primarily for stoichiometric control of the engine operation drives the demand for chemical and gas sensors in the automotive industry. Increasing advancement and development in the chemical sensors market facilitates detection of chemical components in vehicles.
Global Chemical Sensors Market: Trends and Opportunities
The medical industry is one of the prominent end-use industries for chemical sensors. Optical sensors have a wide range of applications in the field of health care and medicine. Growing technological advancement in the medical sector fuels the demand for chemical sensors across different regions worldwide. Growing penetration of chemical sensors in industrial sector along with homeland security and defense segment is anticipated to boost the market of chemical sensors in the short, medium, and long term.
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Global Chemical Sensors Market: Regional Outlook
Geographically, the global chemical sensors market is categorized into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Moreover, current and future trends of the market are covered in the report. North America led the market for chemical sensors in 2015, followed by Asia Pacific. The U.S. is leading the chemical sensors market in North America. China and Japan is leading the market for chemical sensors across Asia Pacific.
Global Chemical Sensors Market: Segmentation
Based on type, the market is segmented into optical sensors, electrochemical sensor, catalytic bead and others. Electrochemical sensor is leading the market for chemical sensor, following catalytic bead. Catalytic bead sensors are primarily employed to detect combustible gases. Incidences of combustion-related emissions and need for environmental monitoring and controlling is also contributing in the positive growth of chemical sensors market globally.
Furthermore, by end use industry the market is segmented into oil and gas, automotive, medical, environmental monitoring, industrial among others. In 2015, oil and gas and automotive segment is holding the largest market share in the chemical sensors market in terms of revenue.
The key players in the global chemical sensors market have been competitively profiled across the five broad geographic regions. This competitive landscape is inclusive of the various business strategies adopted by these major players and their recent developments in the field of chemical sensors. Further, the report includes the market attractiveness analysis of different types of chemical sensors and insight into the major application area of the chemical sensors. An exhaustive analysis of the market dynamics of the global market that is inclusive of the market drivers, restraints and opportunities is covered under the purview of the study. Therefore, the global chemical sensors market report offers and extensive study of the market along with providing the forecast of the market in terms of revenue (USD million) and volume (Million units).
Key Players Mentioned in this Research Report are:
Alpha MOS (France), ABB Group (Switzerland), Delphi Automotive PLC (U.K.),The Bosch Group (Germany), Emerson Electric, Co. (The U.S.), Denso Corporation (Japan), Halma plc (U.K.), Honeywell International, Inc. (The U.S.), Siemens AG (Germany), F. Hoffmann-La Roche Ltd (Switzerland), Yokogawa Electric Corporation (Japan) among others are operating in the chemical sensors market globally. The companies involved in chemical sensors market are focusing on extensive research and development along with acquisitions and mergers to strengthen its foothold in the chemical sensors market. Furthermore, strategic partnership agreement with other companies is also one of the prime business strategies adopted by the chemical sensor companies globally.
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