Stratview Research releases a new report on the Industrial Gas Sensors Market that shows lucrative growth opportunities in the global industry during the next five-year period. This report ensures reliable information related to the present and future market trends. The following summary will give an overview of the challenges, dynamics, and more details mentioned in the report.
Market Insights
The Industrial Gas Sensors Market is projected to grow from USD 961.3 million in 2020 to USD 1384.2 million by 2026 at a CAGR of around 6.4% during the forecast period.
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The reports provided by Stratview Research are a comprehensive analysis of the market potential in various industry applications. The researchers and analysts study the market minutely and focus on the opportunity of the emerging economies of the globe, so that companies can strategically make region specific plans and gain competitive edge.
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Key Players
Key players operating in the Industrial Gas Sensors market are-
- Figaro Engineering Inc. (Japan)
- ABB Ltd (Switzerland)
- Aeroqual (New Zealand)
- Dynament Ltd (UK)
- Eurogas (Belgium)
- Pewatron AG (Switzerland)
- Robert Bosch GmbH (Germany)
- Siemens AG (Germany)
- Cubic Sensor and Instrument Co,Ltd. (China)
- MWC Water Controls (China)
- Monicon Technology (Ireland).
Segment-Wise Market Analysis
By application, the industrial gas sensors market has been bifurcated into the chemical and petrochemical industry, oil and gas industry, and metal industry. The chemical and petrochemical segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to the significant growth of the chemical and petrochemical industry in developing countries.
By region, the market in Asia-Pacific accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to the presence of established end-use industries such as chemical & petrochemical and oil & gas coupled with rising environmental regulations. The market in North America is expected to be driven by rising demand for industrial gas sensors in developing countries with expanding industrialization, particularly in China and India.
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