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    Industrial Gas Sensors Market Growth Analysis

    Industrial Gas Sensors Market Growth Analysis
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    Industrial Gas Sensors Market Trends, Dynamics & Market Insights: 2021-2026
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    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.

    Industrial-Gas-Sensors-Market-Forecast

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    What are gas sensors?

    Gas sensors are defined as transducers that convert a non-electrical quantity into an electrical signal. These sensors are used to detect the presence or concentration of gases in the atmosphere. Gas sensors are primarily used to detect toxic or explosive gasses and measure gas concentration. Based on product type, the gas sensors can be categorized as oxygen, carbon dioxide, and others.

    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).

    Market Dynamics

    The growth of the industrial gas sensors market is primarily driven by:

    • Increasing product use in the chemical, oil & gas, and mining industries.
    • The rapid growth of the chemical and petrochemical industry to meet the growing demand for chemicals from numerous end-use industries is likely to drive market growth at a significant rate during the review period.
    • Increasing demand for advanced gas sensors is likely to create lucrative opportunities for the players operating in the global market in the coming years.

    Segment Analysis

    Application Trends

    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.

    Regional Trends

    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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    COVID-19 Impact

    The covid-19 outbreak impacted the growth of the industrial gas sensors market negatively. The spread of coronavirus led to the enforcement of lockdown to curb the spread of the virus. This led to travel restrictions and supply chain disruptions, which in turn affected the product supply and demand for a short period.

    Critical Questions Answered in the Report

    • What are the key trends in the Industrial Gas Sensors market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the Industrial Gas Sensors market?
    • What are the key strategies adopted by the major vendors to lead in the Industrial Gas Sensors market?
    • What is the market share of the top vendors?

    Target Audience

    Here is the list of the group of customers that the industrial gas sensors market hopes to have the greatest opportunity to convert-

    • Distributors
    • Suppliers
    • Manufacturers
    • Logistics organizations
    • Government bodies

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    The following are the key features of the report:

    • Overview, industry life cycle analysis, supply chain analysis.
    • Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Trends and forecast analysis.
    • Segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s industrial gas sensors market realities and future market possibilities for the forecast period of 2021 to 2026. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The industrial gas sensors market is expected to witness an impressive growth of 6.4% CAGR in the coming years.

    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) and Monicon Technology (Ireland) are among the key players in the industrial has sensors market.

    The industrial gas sensors market size is expected to reach USD 1384.2 million during the next five years.

    The chemical and petrochemical segment is expected to register significant growth in the industrial gas sensors market in the coming years.

    Asia-pacific accounted for the largest share in the industrial gas sensors market in 2020.

    Industrial gas sensors distributors, Industrial gas sensors suppliers, Industrial gas sensors manufacturers, Logistics organizations, Government bodies are the target audience in the industrial gas sensors market.