Global Gas Sensors Market Detail Analysis focusing on Key Players ABB, Aeroqual, Alphasense Ltd, Amphenol Corporation, AMS AG, Denso Corporation, Sensors, Inc, Siemens AG
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.
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Gas Sensors Market is set to exceed USD 2.8 billion by 2024; according to a new research report. 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.
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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.
The companies in the gas sensors market are developing equipment based on these products to gain competitive advantage. For instance, FIS, Inc. has developed chromatograph, a lightweight, compact, and low-cost device used to measure ultra-low concentrations of gases.
Table of Content:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Gas Sensors Industry Insights
Chapter 4 Gas Sensors Market, By Product
Chapter 5 Gas Sensors Market, By Technology
Chapter 6 Gas Sensors Market, By Application
Chapter 7 Gas Sensor Market, By Region
Chapter 8 Company Profiles
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