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Gas Sensors Market To Cross The US$ 3 Bn Mark By 2023

The purpose of the report is to illustrate the state of the market of Gas Sensors, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.

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Market Insights

Gas sensors refer to sensing devices used across various applications for detection of different gases and their concentration. These sensors are designed to signal (typically sound an alarm) the operators/people in a given area where gas leakage is happening. Gas sensors are used across commercial, industrial as well as residential applications, with industrial sector being the most popular end-user of gas sensors, globally. In the industrial application segment, gas sensors have emerged among the most integral components, over the period of time. Gas sensors are typically designed for detecting concentration of a particular gas and hence can be easily used for specific industrial applications.

The overall gas sensors market is highly driven by the ever rising industrial development worldwide.Thus, regions having high density of manufacturing, oil & gas and chemical processing facilities emerge highly lucrative, in terms of consumer base. This makes Asia Pacific and Europe major markets for gas sensors across the world. As of 2015, the overall gas sensors market is dominated by the Asia Pacific region accounting for over one third of the total market revenue worldwide. The market here is majorly backed by countries such as China, Japan, Taiwan, South Korea and India, having high industrial presence. Due to further anticipated industrial expansion in the region, Asia Pacific is estimated to remain dominant in the market throughout the forecast period.

Competitive Insights:

Gas sensors market is quite consolidated in nature with few international players accounting for over half of the total market revenue. With the prolonged existence of gas sensors coupled with worsening environment conditions, developing advanced sensors having high sensitivity and less need for calibration has emerged a prominent trend in the market. Thus, companies such as City Technology Ltd., Alphasense, Figaro Engineering, Inc., Draegerwerk AG, Robert Bosch emphasize on developing sophisticated and compact gas sensing devices. One of the most significant drivers for the gas sensors market is the rising regulations (especially in Europe) for installing gas detectors. Thus, compliance with regulations is another major trend strictly followed in the market.

Why was the report written?

This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Gas Sensors buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.

What is the current market landscape and what is changing?

Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.

The report on the market of Gas Sensors contains:

Analysis and forecast of Gas Sensors market dynamics;

Analysis of domestic production, market shares of the main market players;

Analysis of exports and imports;

Analysis of factors, leading the development of the Gas Sensors market;

Assessment and forecast of Gas Sensors market development;

Financial and business profiles of the leading companies in the Gas Sensors industry.

Scope

– Up to date working Gas Sensors data by major regions in the world, the forecast of planned capacity additions by 2026

– The annual breakdown of capital expenditure spending on proposed Gas Sensors for the period 2018 to 2026

– Planned Gas Sensors additions and capital expenditure spending by key countries and companies across the world

– Planned capital expenditure spending on new Gas Sensors projects by region, key countries, and companies

– Details of major planned Gas Sensors projects in the world up to 2026

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