Gas Sensors Industry to grow at 5.4% CAGR from 2015 to 2022

The design & production of innovative products will continue to remain one of the key growth strategies adopted by gas sensors market players to consolidate their business position. An instance of the aforementioned fact is the recent launch of a portable flue gas analyzer by E Instruments’.

Sources claim that E Instruments International LLC, a U.S. based firm manufacturing and designing gas analyzers, launched a new product called the E4500-3 portable flue gas analyzer comprising of gas sensors for detecting levels of nitrous oxide, oxygen, and carbon monoxide.

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This innovative device had been designed for effectively monitoring industrial emissions and combustion procedures. Another major corporation, Adafruit, a renowned open-source hardware firm based in the U.S., has developed a new air quality sensor named as Adafruit CCS81, which can check the proportion of carbon dioxide as well as volatile organic compounds. The contribution of these companies toward the growth of gas sensors market is undeniably massive, as is depicted from the above product launches.

Building management systems require the deployment of automation on a large scale, with uninterrupted connectivity, which will undeniably increase the demand for devices equipped with actuators & sensors. These instruments include sensor functionalities that require effective charging with battery replacement, which is not a viable alternative as a result of exorbitant costs.

To offer a flexible solution to the problem, Gas sensing solutions, a leading manufacturer of carbon dioxide gas sensor, Sharp Corporation, a Japanese multinational firm that produces electronic items, and the University of the West of Scotland have partnered together to develop a self-powered carbon dioxide sensor for detecting the emissions in the environment.

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Such product innovations will encourage new entrants to invest in this emerging field and will provide them with a platform to explore gas sensors market. Global Market Insights, Inc., claims that gas sensors industry, which was estimated at USD 1.9 billion in 2014, is set to produce a revenue of USD 2.89 billion by 2022.

Environmental gas sensors have gained high popularity across the gas sensors market with air pollution adversely impacting over 90% of the global population. The global requirement to reduce air pollution has led to a definitive surge in the requirement for low-cost air pollution measuring equipment. It is projected that the environmental gas sensors industry will produce a revenue of over USD 2.5 billion by 2027. The technology is expected to find extensive applications across consumer electronics such as mobiles and wearable technology as well as the automobile sector as it plays an active role in checking the air quality.

Europe gas sensors industry, which contributed more than 27% of global gas sensors industry revenue in 2014, is set to record a CAGR of more than 4.5% over the coming timeframe. Technological breakthroughs are slated to boost the growth of APAC gas sensors market over the coming years.

Browse key industry insights spread across 95 Pages with 60 market data tables & 47 figures from the report, “Gas Sensors Market Size By Technology (Electrochemical, Semiconductor, PID, Solid State, Catalytic, Infrared), By Product (Oxygen, Carbon Dioxide, NOx, Carbon Monoxide), By End-Use (Medical, Environmental, Petrochemical, Building Automation & Domestic Appliances, Automotive, Industrial), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2015 – 2022” in detail along with the table of contents:

https://www.fractovia.org/news/industry-research-report/gas-sensors-market

While novel product development is one of the key strategies adopted by gas sensors industry players, the market is highly impacted through mergers & acquisitions as well. This industry is apparently quite consolidated, with the top five players contributing more than half of gas sensors market revenue in 2014. Key industry players include Figaro Engineering Inc., Dynament, ABB Group, Dragerwerk AG & Co. KGaA, Robert Bosch LLC, Yokogawa Electric Corporation, and Nemoto & Company Limited.

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https://www.fractovia.org/news/industry-research-report/optical-sensor-market

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