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Gas Sensors Market size likely to exceed revenue of USD 2.89 billion by 2022

Gas sensors market size was valued at USD 1.9 billion in 2014 and is forecast to reach USD 2.89 billion by 2022, as per a new research report by Global Market Insights, Inc. Proliferating demand for smart sensors along with increasing need in end-use industries such as automotive is anticipated to fuel demand over the forecast period.

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Gas Sensors Market size likely to exceed revenue of USD 2.89 billion by 2022

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  1. Gas Sensors Market size likely to exceed revenue of USD 2.89 billion by 2022: Global Market Insights Inc. Fuel Cell Market size worth $25.5bn by 2024

  2. Key Insights from Gas Sensors Market: • Global demand in industrial sector contributed to over 19% of the overall revenue generation in 2014. Government regulations pertaining to ensure healthy and safety environment of employees is likely to fuel the demand growth over the forecast period. Need to monitor cabin air quality as well as the presence of vehicle emission control regulations are expected to be favorable for automotive gas sensors market size. • Electrochemical gas sensors market was valued at USD 350 million in 2014; these products are mainly deployed to detect numerous gases and are also cost effective. Infrared technology supports measurement of volatile organic compounds (VOC) such as acetylene, benzene, butane, etc. along with other gases; however, it is not as cost-effective as its counterparts.

  3. Continued... • Europe gas sensors market share accounted for over 27% of the overall revenue in 2014 and is expected to dominate the demand. Asia Pacific is likely to be the fastest growing region, primarily attributed due to technology innovation. • Chief manufacturers include Alphasense, Membrapor, Dynament, Figaro Engineering, and City Technology among others. In addition to new product development, companies operating in the industry have adopted long-term agreements, as well as mergers and acquisitions as key growth strategies.

  4. Latin America gas sensors market by application, 2012-2022 (USD Million)

  5. Browse Full Market Research Report Gas sensors Market@ https://www.gminsights.com/industry-analysis/gas-sensors-market-size Request for a Sample of this Research report @ https://www.gminsights.com/request-sample/detail/123

  6. 360° Analysis • Application Analysis • Electrochemical gas sensors market size was valued at over USD 350 million in 2014. This can be mainly attributed to mounting adoption in applications such as emission control, landfill gas detection and indoor air quality. • Semiconductor gas sensing technology is primarily employed to measure the change in resistance of the semiconductor material. It accounted for over 18% of the overall gas sensors market share in 2014. • Regional Analysis • Latin America gas sensors market size accounted for around 10% of the global share in 2014. Asia Pacific industry demand can be attributed to advancements in sensor technologies. Europe is anticipated to grow at a CAGR of over 4.5% during the next coming years. • Competitive Market Share • City Technology, Membrapor, Alphasense, Figaro Engineering, and Dynament dominated global gas sensors market share, accounting for over 50% of the industry in 2014. Product development, innovation, and strong R&D focus are among the key strategies employed for gaining competitive advantage.

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