Tuesday, 17 May 2016

Gas Sensors Market Structure, Service And Application to 2020

Gas Sensors Market Size By Technology (Electrochemical, Semiconductor, PID, Solid State, Catalytic, Infrared), By Product (Oxygen, Carbon Dioxide, NOx, Carbon Monoxide), By End-Use (Medical, Environmental, Petrochemical, Building Automation & Domestic Appliances, Automotive, Industrial), Competitive Analysis & Forecast To 2020

Industry Overview:

Global gas sensors market size is anticipated to exceed over USD 2,000 million by 2020, growing at 5% from 2014 to 2020. Mounting health and safety regulations coupled with adoption of wireless and smart gas sensor technology is expected to drive demand growth over the next six years.

Industrial sector accounted for approximately 12% of the total share in 2014, with gains estimated at over 5% from 2014 to 2020. Growing usage of toxic and combustible gases in industrial processes such as NO2 (Nitrogen Dioxide) and H2S (Hydrogen Sulfide) among others cause high risk for employees which in turn boost the demand. It monitors concentration of gases in industrial environments to avoid disasters.

Regulatory initiatives in North America and Europe is expected to favorably impact the industry demand in the coming few years. Agencies and legislations such as OSHA (Occupational Safety and Health Administration), ensures safe and healthy work conditions for workers in the U.S. These factors are expected to significantly contribute to the global gas sensors market growth during the forecast period.

Increasing demand from end-use industries such as automotive sector has spurred the global demand. Emission of hazardous gases in this sector has led to the framing of legislations for emission control and created the need to monitor the concentration of exhaust gases. Nitrogen Oxide (NOx) senor market was valued USD 140 million in 2013 and is likely to attain USD 220 million by 2020, growing at CAGR of 6% over 2014 to 2020. CO2 and NOx sensors are deployed for this purpose, thus contributing to the growth of the global growth. In addition, oxygen sensors are deployed in automobiles for cabin air quality maintenance. Stringent government regulations regarding emission control across Asia Pacific is expected to drive industry penetration to a large extent, on account of the considerable automotive industry in the region.

Use of shale gas in electricity production is expected to obstruct industry growth over the next few years. Shale gas has emerged as an environment friendly alternative for electricity production over coal power generation. It is widely utilized for power generation in Asia Pacific and Europe in the coming years, thus reducing CO2 emission levels on a global scale.
Technology Overview:

Electrochemical technology-based devices was valued USD 340 million in 2013. It is likely to witness significant gains, with forecast of USD 480 million at a growth rate of over 5% from 2014 to 2020. The growth can be attributed to their extensive use in applications such as indoor air quality, emission control and landfill gas detection among others. However, they are not suitable for low temperature or high pressure conditions.

Semiconductor was valued USD 320 million in 2013 and is expected to reach over USD 460 million by 2020, at a CAGR of 5% during the forecast period. It detects toxic and combustible gases and is very cost effective which can largely attribute to this technology segment over the next few years.

Product Overview:

CO2 sensor market size was valued USD 470 million in 2013, and was the leading product segment and. It is likely to witness significant gains, with forecast of USD 690 million. They are required in industrial process and assist in detecting errors. It is anticipated to witness high demand owing to increasing demand from bulk food storage sector.

Oxygen sensors are used to monitor emission levels and air quality in automotives. It was likely to reach USD 320 million by 2020, at a CAGR of 6% from 2014 to 2020. Demand is expected to be supported by increasing precision, decreasing per unit sensor cost and growing applications across various end-use industries.

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End-Use Overview:

Escalating need for monitoring manufacturing processes and prevents gas leakages is expected to spur the gas sensors market growth in this segment. In addition, government norms to ensure occupational health and safety of workers are expected to drive demand over the forecast period.

Medical sector was anticipated to reach over USD 300 million by 2020, growing at a CAGR of over 5% over the forecast period. It monitors the concentration of oxygen in anesthesia and also detects the carbon monoxide levels in lung function tests.

Regional Overview:

Europe was valued over USD 540 million in 2013. It is expected to reach 740 million by 2020 at a CAGR of 4% during the next coming years. Energy efficiency initiatives and emission control standards have resulted in proliferation in the automotive sector.

Growth in end-use industries and increasing avenues are also expected to drive the industry in this region. Asia Pacific gas sensors market was valued over USD 500 million in 2013 and is likely to attain USD 750 million by 2020. The region is expected to grow at a higher rate owing to advancements in sensor technologies.

Competitive Market Share:

The global gas sensors market share is fairly competitive, with the top five key participants accounting for more than 60% of the total share in 2013. City Technology focuses largely on development and innovation capabilities, and accounted for more than 25% of the overall share in 2013.

Alphasesnse invested heavily in state-of-the-art automation and process equipments to ensure sensors are manufactured and validated to bespoke specifications. Rest of the major companies includes Membrapor AG, Dynament Ltd. and Figaro Engineering among others.

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