DUBLIN--(BUSINESS WIRE)--The "Global Chemical Sensor Market - Segmented by Product Type (Electrochemical, Optical, and Pellistor/Catalytic Bead), End-user Industry, and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global chemical sensor market was valued at USD 18.56 billion in 2017, and is expected to reach a value of USD 28.16 billion by 2023 at a CAGR of 7.20%, over the forecast period (2018-2023).
The rising levels of pollution have supported the demand for chemical sensors. Low-cost and portable nature of chemical sensors are expected to fuel the growth of the market, during the forecast period. Apart from the environmental concerns, the use of chemical sensors for analytes in the chemical industrial process is also integrating into the market. Defense sector, research labs, and healthcare operation are utilizing sensors as advanced tools, which are in turn driving the market.
Optical chemical sensor demand is expected to rise at a steady pace. Greater adoption of cabin air quality systems in vehicles and increased use of demand control ventilation in commercial properties are expected to drive the market. Additionally, due to the expanding economy and regulations on air and water quality, it is expected to bolster the market. However, faster growth of optical sensors will be limited by declining automobile emissions testing, due to decreasing number of vehicles that need to be tested via the tailpipe.
Rising demand for the next generation of clinical diagnostic, measuring and monitoring sensors for applications in implantable and wearable devices, have created opportunities with exponential growth potential. Lower raw material costs and advent of nano and micro fabrication techniques within the industrial manufacturing process have led to substantial increase in the commercialization of chemical sensors for healthcare applications, and is expected to stay steady during the forecast period.
North America and Europe are the leading regions in terms of overall demand for chemical sensors. The concerning pollution levels in China, India, and other Asia-Pacific countries are also driving the demand for chemical sensors.
Key Topics Covered
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Technology Snapshot
6. Chemical Sensors Market Segmentation, by End-user Industry
7. Chemical Sensors Market Segmentation, by Geography
8. Chemical Sensors Market - Company Profiles
- AirTest Technologies Inc.
- Digital Control Systems
- General Electric
- Hans Turck GmbH & Co. KG
- Honeywell Analytics
- MSA Safety
- SICK AG
- Smiths Detection Inc.
9. Investment Analysis
10. Future of the Chemical Sensors Market
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