Market Research Report
Gas Sensor and Analyser Market: By Product ; Type ; Technology ; By Application ; & Geography - Forecast - 2019-2024
|Published by||IndustryARC||Product code||637366|
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|Gas Sensor and Analyser Market: By Product ; Type ; Technology ; By Application ; & Geography - Forecast - 2019-2024|
|Published: December 25, 2018||Content info:||
Gas sensors and analyzers are electronic devices designed to maintain, measure and analyze the species of chemical gases at and around industrial facilities. These sensors constantly monitor the working area environment for any sort of leakages and hazardous gases. Gas sensors and analyzers have gained significant applications in production facilities and on the back of stringent industrial standards being mandated, organizations are increasing the installation of these devices to ensure safe and sound industrial environment. These sensors are rafted in manufacturing and processing facilities across different industries such as Petrochemical, Manufacturing, Humidity monitoring that are considered as the leading end user markets for these devices. These devices have witnessed hefty demands in the developing countries such as China, India and South East Asia as the wave of industrialization is at its peak in these regions. Leading OEMs are expanding their operations in these countries due to the availability of resources and low labor cost.
Petrochemical and Manufacturing industries are perceived to be the largest end user markets for Gas sensors and analyzers. Automotive and Medical industry are speculated to be the emerging markets for Gas sensors on account of rising importance to emission control and monitoring applications respectively.
The global Gas Sensor and Analyser market revenue is forecast to grow from $Xx billion in 2015, to $Xx billion in 2022, at an estimated CAGR of Xx% from 2016 to 2022. Also, the process instrumentation market is expected to grow from $Xx billion in 2015, to $Xx billion in 2022, with a CAGR of Xx%. The instrumentation market is governed by the major players like Emerson Electric Co. (U.S.), Yokogawa Electric Corporation, Inc. (Japan) and Endress+Hauser (Switzerland), among others. The APAC region is expected to rejuvenate the Gas Sensor and Analyser market owing to the escalated demands from the oil and gas extraction, wastewater treatment, and pharmaceutical verticals.
Europe is the leading market for Gas Sensor and Analyser in 2015 followed by America. The APAC region is forecast to exhibit high growth of Xx% CAGR through 2022 to reach $Xxx billion. In ROW region, increasing investments in Petrochemical and Environment monitoring are likely to propel the market for Gas Sensor and Analyser in the region. The market is projected to grow at CAGR of Xx% to expected reach $Xxx billion by 2022.
Innovative products and services are gradually capturing the Industrial Automation market. Companies such as Honeywell International Inc., are offering better miniature sensors to which are affordable and productive. ABB ltd who already has strong market in Asia is increasing production due to demand for automation in emerging countries like India. The other prominent players in the market are GE Measurement & Control. (U.S.), Emerson Electric Cor. (U.S.), Yokogawa Electric Corporation (Japan), Robert Bosch (Germany), Figaro Engineering Inc. (Japan), Rockwell Automation Inc. (U.S.), Trolex Ltd (U.K) and Testo AG (Germany).
The report is segmented based product types, technology, end use verticals and geographic regions. The market share analysis, strategies and future opportunities are also discussed in the report. The service market has been aiding the market in earning significant revenues apart from the hardware and software sales, with an augmented segment of the end-users, preferring the maintenance and outsourcing services instead of the in-house purchase and the subsequent maintenance.