Gas Sensors Market Is Predicted To Grow Quickly Due To Growing Demand From End-use Industries Till 2020: Grand View Research, Inc.

The global gas sensors market is expected to reach USD 2,512.4 million by 2020, according to a new study by Grand View Research, Inc. Regulatory initiatives, in developed markets of North America and Europe, in order to boost occupational health and safety are expected to drive the market over the forecast period. Additionally, growing demand from end-use industries is expected to positively impact global market prospects. 

Positive outlook on demand for smart and wireless gas sensors can primarily be attributed to their effectiveness in detecting toxic gases in hazardous environmental conditions. Regulations for safety put forth by Occupational Safety and Health Administration (OSHA) and the Health and Safety at Work Act (HSWA) have been critical in enhancing market penetration across numerous industries in recent times. The use of hydrogen as an alternative fuel in hybrid vehicles is also expected to be a considerable opportunity for industry participants in the coming years. 

Browse full research report on Gas Sensors Market: http://www.grandviewresearch.com/industry-analysis/gas-sensors-market  

Further Key findings from the study suggest:

  • Carbon dioxide (CO2) sensors accounted for 26.8% of the overall market share in 2012. However, reducing carbon emissions, and the use of alternatives such as shale gas for power generation are expected to limit the CO2 sensors market from reaching its full potential. Nitrogen oxide (NOx) sensors are expected to be the fastest growing product segment, with an estimated CAGR of 6.2% from 2014 to 2020. NOx sensors cost significantly higher as compared to other products, and are mainly used for exhaust gas emission detection in automotives.
  • Electrochemical technology accounted for 19.3% of the market in 2012, and is expected to dominate global demand over the next six years. Sensors employing electrochemical gas sensing technology are capable of detecting multiple gases; in addition, they are reliable and cost effective in nature. Infrared gas sensing technology is expected to register the fastest growth of 5.7% from 2014 to 2020. It helps measure volatile organic compounds (VOC), methane, carbon dioxide, etc., and the absence of a chemical reaction ensures longer life span.
  • Gas sensors employed for industrial purposes accounted for around 20% of the overall market in 2012, and are further expected to remain the largest market segment over the forecast period. The medical segment is also estimated to be a high growth avenue, and involves monitoring oxygen concentration in incubators as well as ventilators. It is expected to grow faster than the global average, at a CAGR of 5.2% from 2014 to 2020.
  • Asia Pacific is expected to be the largest regional market by 2020, spurred by enhancements in sensor technology, and growing demand for handheld sensors and devices. It is also estimated to be the fastest growing region, at a CAGR of 6.0% from 2014 to 2020. Gas sensors are largely used in the automotive sector; therefore, growing automotive production and demand is expected to give impetus to the industry.
  • Major industry participants follow development and innovation led strategies to strengthen their foothold in the ecosystem. R&D activities for boosting technological enhancement are also implemented to drive competitive advantage. Companies operating in the market include Honeywell-owned City Technology Ltd., Membrapor AG, Alphasense, Figaro Engineering, and Dynament Ltd. among others.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/sensors-and-controls

Grand View Research has segmented the global gas sensors market on the basis of product, technology, end-use industry and region:

Gas Sensors Product Outlook (Revenue, USD Million, 2012 - 2020)
        • Oxygen/Lambda Sensors
        • Carbon Dioxide Sensors
        • Carbon Monoxide Sensors
        • NOx Sensors
        • Others
Gas Sensors Technology Outlook (Revenue, USD Million, 2012 - 2020)
        • Electrochemical
        • Semiconductor
        • Solid State/MOS
        • PID
        • Catalytic
        • Infrared (IR)
        • Others
Gas Sensors End-Use Industry Outlook (Revenue, USD Million, 2012 - 2020)
        • Medical
        • Building Automation & Domestic Appliances
        • Environmental
        • Petrochemical
        • Automotive
        • Industrial
        • Others
Gas Sensors Regional Outlook (Revenue, USD Million, 2012 - 2020)
        • North America
        • Europe
        • Asia Pacific
        • RoW 

Access Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-gas-sensors-market    
                 
About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


For more information: http://www.grandviewresearch.com

Comments

Post a Comment

Popular posts from this blog

Industrial Display Market Is Predicted To Grow Swiftly Due To Growing Complexity Of Industrial Operations & Processes Till 2025: Grand View Research, Inc.

Image
The global  industrial display market   is expected to reach USD 7.26 billion by 2025, according to a new report by Grand View Research, Inc. Due to the growing complexity of industrial operations and processes, the use of industrial displays has become crucial to simplify operational tasks and provide technologically advanced features. Human Machine Interfaces (HMIs) and other displays possess the ability to respond to the changing production demands and closely monitor the production processes, thereby decreasing the downtime and increasing workforce efficiency. A well-designed HMI enables line of sight into the system, which allows the operator to control or maintain the machine and enhance productivity. OLED displays are expected to gain prominence on account of their enhanced picture quality and low power consumption. The technology is widely used in digital signage and display boards to indicate the operational status at factory floors. Solution providers ...
Read more

Fiber Optic Connector Market Is Projected To Witness Growth Based On Increased Demand From Healthcare, Railway,Defense & Aerospace Sector Till 2025:Grand View Research,inc.

The global  fiber optic connector market  is expected to reach USD 5.9 billion by 2025, according to a new report by Grand View Research, Inc. The fiber optics segment is expected to grow, significantly, over the forecast period. Fiber optic connectors have huge potential to be incorporated into a wide range of applications in the healthcare, railway, defense & aerospace, and oil & gas sectors. The technology is under constant R&D and aims to develop low-cost applications and technological solutions for the mass market. The fiber optic technology has gained prominence over the past few years, owing to the persistent research & development activities and the escalating demand from high bandwidth communication and data services. The growing penetration of the fiber optics technology is encouraging manufacturers and suppliers to invest in research & development for developing better products. Researchers are focusing on innovating reliable and cost-e...
Read more

Industrial Microwave Heating Equipment Market Is Witnessing Significant Growth Owing To Increasing Efficiency Of Industrial Microwave Heating Devices 

Image
The global  industrial microwave heating equipment market  size is expected to reach USD 1.4 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.6% during the forecast period. Increasing adoption of magnetrons and RF solid state amplifiers in various end-use industries such as food, paper, plastic, and wood and derivatives is anticipated to positively affect market growth. These high-efficiency products are poised to witness significant rise in demand in the coming years owing to their long operating life, low maintenance requirements, and low power consumption. Surging demand for RF solid state amplifiers is estimated to drive the overall market. They are likely to replace magnetrons over the forecast period due to benefits they offer, such as enhanced operating life, high precision output power control, frequency tuning, and fast frequency hopping. Moreover, the product has undergone several technological advancements over...
Read more