Chemical Sensors Market Augmented

Expansion to be Registered by 2024

In a to a great extent divided worldwide compound sensors showcase, top five players held a
small 19.8% of the general market in 2015. These organizations, in particular Emerson Electric
Co., ABB Group, The Bosch Group, Honeywell International Inc., and Siemens AG are relied
upon to clutch their predominant position sooner rather than later. Innovative work endeavors
for presentation of novel items is what is helping these organizations to collect expansive offer
in the market, expresses the creator of the examination.
Companies in this market are also focusing on implementation of new technologies to add to
thie business profile. This is likely to aid these companies bolster their position in the market.
Some top companies operating in the global chemical sensors market include Alpha MOS,
Delphi Automotive plc, Denso Corporation, Honeywell International Inc., F. Hoffmann-La
Roche Ltd., ABB Group, The Bosch Group, Emerson Electric Co., Halma plc., Siemens AG,
and Yokogawa Electric Corporation.
As per estimates of a market intelligence publication by Mindaspire Market Research
(MAMR), the global chemical sensors market will be worth US$24.8 bn by 2024 from
US$16.3 bn in 2015. This alludes to a CAGR of 5.0% over the forecast period starting in 2016
and ending in 2024. Among the various segments of the market based on end-use, the medical
industry continues to remain at the fore. Continual uptake of technologically advanced devices
is fuelling the medical end-use segment in the chemical sensor market. Product-wise, optical
sensors are likely to continue to show an uptick in demand due to their increasing application
in healthcare and medicine industry. North America is the leading regional market for chemical
sensors; the growth of the automobile industry, development of new products, and increasing
research activities are providing impetus to this market.
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Efficacy for Homeland Security Boosts Growth

The growth of the chemical sensors market is mainly because of rising demand for chemical
sensors across a host of industries such as food and beverages, medical, automotive, and
agriculture. Further, rising number of oil and gas exploration and extraction undertakings are
stoking demand for chemical sensors. Chemical sensors are increasingly being deployed as
they help to identify the amount of hazardous chemicals present in the environment and
quantify their impact through logical analysis. Initiatives undertaken by governments to ensure
environmental safety is also predicted to boost the chemical sensors market in the years ahead.
The chemical sensors market is also witnessing a spike in its revenue due to surging demand
for homeland security. To serve this, chemical sensors are witnessing upswing in demand from
the defense forces to detect harmful gases, explosives, and other chemicals used for chemical
warfare. Apart from this, increasing investments for research and development of chemical
sensors is serving to boost this market.

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global-industry-analysis-size-sales-and-forecast-by-2024

Fluctuating Prices to Hamper Market

On the downside, poor lifecycle of chemical sensors is the only major factor restraining the
growth of chemical sensors market. These sensors if exposed to varying temperature, humidity,
air pressure, and other environmental contaminants can get damaged easily. Price fluctuations
of chemical sensors despite their steady demand and extensive sales is projected to hamper
this market in the future.
The review presented is based on the findings of a MAMR report, titled “Chemical Sensors
Market (Type - Optical Sensor, Electrochemical, and Catalytic Bead; by End User - Oil and
Gas, Automotive, Medical, Environmental Monitoring, and Industrial) - Global Industry
Analysis Size Share Growth Trends and Forecast 2016 – 2024.”

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The global chemical sensors market is segmented as follows;

Global Chemical Sensors Market by Type

 Optical sensors
 Electrochemical
 Catalytic Bead
 Others

Global Chemical Sensors Market by End Use Industry

  Oil and Gas
 Automotive
 Medical
 Industrial
 Environmental Monitoring
 Others

Global Chemical Sensors Market by Region

 North America
o The U.S.
o Mexico
o Rest of North America
 Europe
o U.K
o Germany
o France
o Italy
o Rest of Europe
 Asia Pacific
o India
o China
o Japan
o South Korea
o Rest of Asia Pacific
 Middle East and Africa
o UAE
o Saudi Arabia
o South Africa
o Rest of Middle East and Africa
 Latin America
o Brazil
o Argentina
o Rest of Latin America

TableofContent

Section1Preface

Section2AssumptionsandResearchMethodology
2.1AssumptionsandAcronymsused

2.2 Research Methodology

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