Overview and Scope
A chemical sensor is a device that identifies and analyzes chemical properties in an analyte (the technical term for the chemical material under investigation) and converts the chemical data into electronic data.
Sizing and Forecast
The chemical sensors market size has grown strongly in recent years. It will grow from <b>$31.6 billion in 2023 to $34.19 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. </b> The growth in the historic period can be attributed to industrial growth, increased global chemical trade, growth in chemical manufacturing, regulatory compliance, and increased demand for supply chain efficiency.
The chemical sensors market size is expected to see strong growth in the next few years. It will grow to <b>$48.68 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. </b> The growth in the forecast period can be attributed to increasing use of sustainable chemicals, growing e-commerce and digital platforms, growing adoption of green chemistry, global supply chain resilience, increasing specialty and custom chemicals. Major trends in the forecast period include chemical industry innovation, key players’ partnerships, iot adoption, product innovations, and advances in wearable chemical sensors.
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Segmentation & Regional Insights
The chemical sensors market covered in this report is segmented –
1) By Product Type: Optical, Pallister Or Catalytic Bead, Other Product Types
2) By Particulate Type: Liquid, Gas
3) By Detection Method: pH Sensors, Humidity Sensors, Bio Sensors
4) By End-User: Automotive, Medical, Environmental Monitoring, Industrial, Other End-Users
<b>North America</b> was the largest region in the chemical sensors market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the chemical sensors market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing use of chemical sensors in the automotive industry is expected to drive the growth of the chemical sensors market in the forecast period. Automobile traffic is the primary source of exhaust gases. The chemical sensors and measurement technology can aid in improving engine performance, increasing energy efficiency, and lowering pollutant emissions. For instance, in January 2021, Gentex Corporation, a US-based high technology electronics company, introduced nanofiber sensing technology for detecting a wide range of chemicals, ranging from explosives to volatile organic compounds, with applications in a variety of industries including automotive, aerospace, and others. The company is presently working on a variant of this technology with an autonomous vehicle manufacturer to deliver the first smoke detector developed to identify smoke and vape within the vehicle environment. Therefore, the rising use of chemical sensors in the automotive industry propels the chemical sensors market growth.
Key Industry Players
Major companies operating in the chemical sensors market include <b> Honeywell International Inc., Siemens AG, Halma plc, Denso Corporation, Emerson Electric Co., General Electric Company, Intelligent Optical Systems Inc., SICK AG, Alpha MOS SA, Robert Bosch GmbH, Hans Turck GmbH & Co. KG, Owlstone Medical Ltd., SPEC Sensors LLC, Nemoto & Co. Ltd., SenseAir AB, Freescale Semiconductor Inc., JLM Innovation GmbH, ABB Group, BorgWarner Inc., Smiths Detection Inc., MSA Safety Incorporated, Pepperl+Fuchs Group, AirTest Technologies Inc., Yokogawa Electric Corporation, BorgWarner Inc., Thermo Fisher Scientific Inc., Bayer AG, Pendar Technologies Inc., Intellisense Systems Inc., Lyten Inc., Physical Sciences Inc., GlaxoSmithKline plc, Aerodyne Research Inc., Sensirion AG, City Technology Ltd., Figaro Engineering Inc. </b>
The chemical sensors market report table of contents includes:
1. Executive Summary
2.Chemical Sensors Market Characteristics
3.Chemical Sensors Market Trends And Strategies
4.Chemical Sensors Market analysis
5.Chemical Sensors Market Size And Growth
6.Chemical Sensors Segmentation
7.Chemical Sensors Regional And Country Analysis
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27.Chemical Sensors Competitive Landscape And Company Profiles
28.Chemical Sensors Key Mergers And Acquisitions
29.Chemical Sensors Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Honeywell International Inc.
- Siemens AG
- Halma plc
- Denso Corporation
- Emerson Electric Co.
- General Electric Company
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