Oxygen Gas Sensors Market to grow at 6% CAGR from 2017 to 2024

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Gas Sensors Market to cross 2.8bn by 2024
Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Gas sensors Market

• Gas Sensors Market size was over USD 2 billion,
  with more than 900 million units shipped in 2016.
  Gas Sensors Market size is set to exceed USD 2.8
  billion by 2024 according to a new research
  report by Global Market Insights, Inc. Gas
  sensors market is one among the few vibrant
  business spheres where innovations and technology
  quite aptly outline the key to profitability and
  opportunities.
• The industry participants are thoroughly
  investing in research activities to bring product
  improvisations in terms of advancements and
  sustainability quotients, that in extension is
  enhancing the product and commercialization
  matrix of this fraternity. Backing the fact with
  a recent case in point Sensirion AG, a leading
  manufacturer of high-end sensors, has bestowed
  the marketplace with novel gas sensors that are
  not only technologically progressive, but are
  also environmentally viable.
• As claimed by the experts, Sensirions upgraded
  solutions offer precise air quality information
  based on some of the major environmental grounds
  such as VOC content, humidity, carbon dioxide
  presence, temperature, and particulate matter
  content. Undoubtedly, such exemplary initiatives
  undertaken by the renowned giants with regards to
  environmental sensing have opened up a slew of
  lucrative opportunities for gas sensors market
  players, in terms of commercialization and
  sustainability.

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Continued...

• In terms of revenue, Global Market Insights, Inc.
  reports the global gas sensors industry to have
  surpassed a valuation of USD 2 billion in 2016.
  Estimates further claim the overall shipments to
  be 900 million units in the same year. Safety
  measures, of late, have become an integral axiom
  in manufacturing space, subject to the stringent
  regulatory framework regarding workplace safety
  and health hazards due to poor air quality. Gas
  sensors industry trends is heavily influenced by
  the growing governmental initiatives across the
  world. Companies involved in gas sensors industry
  are introducing innovative application-specific
  components that comply with the safety
  standardization such as CSA and ATEX.
• In this regard, it is important to note that
  majority of these air quality standardizations
  and norms are implemented in industrial and
  automotive sectors. For instance, EPAs Clean
  Energy Act has already set limits on some of the
  air pollutants, that is claimed to be hazardous
  for the environment. The act also gives the EPA
  the power to limit harmful emissions of air
  pollutants from sources like utilities, chemical
  plants, and steel mills. These mandatory
  roll-outs have left a huge impact on gas sensors
  market penetration, subject to the fact that
  these aforementioned sectors are mandated to
  install gas sensors in the plants to curb air
  pollution by efficiently regulating harmful
  emissions.

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U.S. gas sensors market size, by application,
2016 2024 (USD Million)
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Continued...

• Expanding automobile sector and rising trend of
  automation across a myriad range of domains are
  chronicled to be some of the major factors
  driving APAC gas sensors market size. Reportedly,
  China and India are anticipated to be the major
  revenue pockets for APAC industry share. The
  growth in these regions can be primarily credited
  to the phenomenally increasing technological
  developments with regards to curtailment of
  hazardous air pollutant emissions. Allegedly,
  China has been remarkably incorporating
  miniaturized and wireless sensors to enable
  convenient detection of toxic gases. Moreover,
  the growing urbanization and demand for
  technologically upgraded products such as E-
  compressor and E-turbo is further fueling China
  gas sensors market share.
• However, in parallel to these developments the
  industry is also facing some major challenges
  with the exponentially increasing number of CO
  and CO2 sensors. The overcrowding of these
  devices has not only impacted the strategic
  landscape but has also raised a question on the
  product differentiation and innovations with
  regards to these sensors. Keeping this into
  consideration, the market players are vigorously
  investing in RD activities to offer a
  diversified range of products, addressing the
  innovation and feasibility parameters.

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Companies

• Amphenol Corporation
• Dynament, Bosch Sensortec
• City Technology
• Figaro Engineering Inc.
• Honeywell International Inc.
• Teledyne Technologies Incorporated
• Trolex Ltd
• Siemens AG.

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