Global Chemical Sensors Market is estimated to reach $23 billion by 2024; growing at a CAGR of 5.5% from 2016 to 2024. A chemical sensor is a device that transforms chemical information into an analytically electrical signal. A basic chemical sensor consists of two functional units such as a receptor and a transducer, while some may even include a separator. They are complex devices that are optimized for a particular application of current interest. The information is formed by the chemical reaction by a biomaterial, chemical compound or combination of both. Their applications include various fields such as biology, mechanics, electricity, semiconductor technology, thermology, membrane technology, medicine, and home safety, among others. Moreover, chemical sensors play an important role in environmental monitoring and control, enabling a better quality of life. Increasing R&D has led to the emergence of microchemical sensor and its array which is likely to enter a new era.
Need for accuracy in diagnosis in healthcare sector coupled with increasing use of chemical sensors in environmental monitoring support the growth of the global chemical sensors market. Moreover, growing use of semiconductor chemical sensors and rising demand for dissolved gas sensors for aquaculture industry also fuel thegrowth of the market. However, decline in automobile emission testing may hinder the growth of the market. Furthermore, untapped markets and inexpensive, portable and wearable chemical sensor devices may provide growth opportunities in the coming years.
The global chemical sensors market has been categorized on the basis of type, end-user, and geography. The market by type is segmented intoelectrochemical, optical sensor, catalytic bead and others. Furthermore, by end-use industry, it can be segmented into automobile, oil & gas, environment monitoring, medical, industrial, and others.
By geography, the global chemical sensors market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers U.K., Germany, Italy, France and others. Asia-Pacific covers China, Japan, India, South Koreaand others. RoW covers South America, Middle East and Africa.
The key market players in chemical sensors market include Honeywell International Inc., BASF SE, General Electric, Siemens AG, Bosch GmbH, Emerson Electric Company, Delphi Automotive Plc, ABB Group, Thermo Fisher Scientific and Abbott Laboratories, among others.
The key takeaways from the report
- The report will provide detailed analysis of Chemical Sensors Market with respect to major segments such as type and end-user
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Chemical Sensors Market has been provided in the report
- Profile of the key players of the Chemical Sensors Market, will be provided, which include key financials, product & services, new developments and business strategies
Scope of Chemical Sensors Market
- Catalytic Bead
- Optical Sensor
- Oil & Gas
- Environment Monitoring
- North America
- South Korea
- South America
- Middle East