Press release
Global Chemical Sensors Market is Anticipated to Grow at a CAGR of 8.6% during Forecast Period
Variant Market Research
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Key segments of the global chemical sensors market are, end-use and geography. Optical sensor, catalytic bead, electrochemical and others are the key sub segments of the type segment. Optical sensor sub segment is expected to dominate the segment with fastest CAGR during the forecast period 2016-2024. Moreover, application segment has been segmented into medical, environmental monitoring, oil & gas, industrial, automotive and others.
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North America, Europe, Asia-Pacific and rest of the world are the major geographical sub segment of the global chemical sensors market. In 2016, North America region accounted for the highest market share of 36%, followed by Asia-Pacific with 27.7%. Additionally, Asia-Pacific is predicted to grow at the highest CAGR during 2016-2024, driven by rapid adoption of advanced technologies and expanding automotive & healthcare sector.
The market players have been adopting several strategies to increase their product portfolio and geographical presence. The key market players in the chemical sensors market are ABB Group, BASF SE, General Electric, Honeywell International Inc., Emerson Electric Company, Siemens AG, Bosch GmbH, Thermo Fisher Scientific, Delphi Automotive Plc, and Abbott Laboratories, among others.
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