Title: Gas Sensors Industry to hit $2.8bn by 2024
1Gas Sensors Market Present Scenario and Growth
Prospects from 2017 to 2024 Global Market
Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
2 Key Insights from Gas Sensors Market
- 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. The global
shipments are forecast to grow at over 7 CAGR
from 2017 to 2024. The gas sensors market is
expected to gain momentum over the forecast
timespan, owing to the increasing penetration
across applications such as handheld and smart
devices. Increasing adoption custom-designed
sensors from oil gas industry to ensure safe
working environments is expected to fuel the
demand. Manufacturers are innovating continuously
to introduce application-specific components for
critical applications such as explosion-proof
transducers and meet standards such as ATEX and
CSA. - NOx sensors market is expected to gain
significant share over the forecast timeframe,
owing to the increasing adoption in automobile
applications. These components are used in
vehicles to make petrol engines more
environmental friendly by monitoring the exhaust.
They are also being used by the governments
across the globe to keep a check on nitrogen
oxide content in the emissions and exhaust gases
to reduce pollution.
3Continued...
- Growth in operational issues is anticipated to
hamper the gas sensors market growth. The
continuous evolution of the industry is resulting
in over-crowding of components such as CO and CO2
sensors. Low product differentiation and lack of
innovations are among the key industry
challenges. However, key players in the gas
sensors market are increasingly investing in RD
to develop diverse product portfolio that matches
unique requirements of each application. - The MINIGAS project, funded by the European
community, developed gas sensing components that
enabled use of these components in small
instruments for high sensitivity and speed. Under
this project, innovative photo-acoustic
components were developed that enabled the
development portable and highly sensitive
measuring equipment for the measurement of very
small concentrations. - The U.S. gas sensors market is expected to
continue the significant demand owing to the
rising stringent regulations pertaining to
exhaust from vehicles. A rebound in the
production of light motor vehicles and increasing
use of exhaust oxygen gas sensors to improve fuel
efficiency performance is expected to drive
demand in the region.
4U.S. gas sensors market size, by application,
2016 2024 (USD Million)
5Continued...
- The Environment Protection Agency, under the
Clean Air Act, has set limits on certain air
pollutants, with setting limits on how much
pollutant can be released into the air. The act
also gives the EPA the power to limit harmful
emissions of air pollutants from sources like
utilities, chemical plants, and steel mills. - This mandatory law will create huge impact on
these industries as they will be enforced to
install sensors in the plant to minimize air
pollution by controlling harmful emissions. - The Latin America gas sensors market will be
driven by the increasing adoption of these
components in building automation and domestic
appliances. The consumer electronics industry in
countries including Brazil and Mexico have also
contributed to the demand owing to increase in
spending capacity of customers.
6 Browse Full Market Research Report Gas sensors
Market _at_ http//bit.ly/2cNN6lI Request for a
Sample of this Research report _at_
https//www.gminsights.com/request-sample/detail/1
23
7Major companies in Gas Sensors Market
- Dynament
- City Technology, Ltd
- Amphenol Corporation
- Alphasense
- Bosch Sensortec
- SenseAir AB
- Membrapor AG
- Figaro Engineering Inc.
8Industry Coverage
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