The global chemical sensors market was worth US $18 billion in 2018, and it is expected to grow to $32 billion by 2025. According to analysts, the global market will grow at a CAGR of 5.3% from 2017 to 2025.
Table of Contents
Introduction
Chemical sensor is a device that transforms chemical information such as the presence of a specific element or composition, partial pressure, and chemical activities into an analytically useful signal. Chemical sensors are available for a wide range of end-use applications, which include environmental monitoring, homeland security, defense, automotive emissions testing, emissions monitoring, water and waste water treatment, industrial safety equipment, chemical processing industry, industrial emissions and safety, food and beverage processing industry, among others. Additionally, chemical sensors have applications in the healthcare field. For instance, they are used in portable glucose monitors, blood sugar testing strips, and different other medical devices, among others.
With increasing concern for environmental monitoring, the application of chemical sensors is anticipated to experience robust growth globally. Moreover, the increasing number of light and advanced vehicle production and growing industrialization in different regions is one of the prime reasons behind the growth of the chemical sensors market globally.
Report Overview
| Aspect | Details |
| Base year of Estimation | 2016 |
| Value Estimation Year | 2017 |
| Forecast Period | 2017 – 2025 |
| Market Segmentation | By Type, End Use Industry, Regions |
| Regional Scope | North America, Asia Pacific, Middle East & Africa (MEA), Europe and Latin America |
| Report Coverage | Technology Analysis, Market Dynamics, Market Trends, Segmentation Overview and Competitive Landscape of the market |
Segmentation Overview
| Segment Types | Segments |
| By Type | Optical sensor, electrochemical sensor, and catalytic bead among |
| By End Use Industry | Automotive, defense and military, environmental monitoring, aerospace, homeland security, oil & gas, healthcare, industrial among others |
| By Regions | North America, Asia Pacific, Middle East & Africa (MEA), Europe and Latin America |
Key Questions Addressed By the Report
- What will be the nature of growth of the market till 2025?
- What are the major push factors that will affect the growth of the market?
- What are the growth possibilities in different segments of the market?
- Who are the leading market players?
- What are the key strategies implemented by the market leaders to sustain growth in the market?
- What are the major restraining factors for the market?
- What are the ways to generate new revenue streams?
- In-depth analysis of the competitive landscape and competitor behaviour in the market
Technology Analysis
Chemical sensors primarily detect, identify, and provide information about the chemical compositions in any form of gas or liquid. The basic information is provided in the form of a measurable physical signal. There are two steps in which a chemical sensor performs. At first, the chemical sensor recognises chemical properties in an element or environment, and then it works as a transducer. The chemical components of a substrate are identified by using analytical methods that primarily depend on detection limit or resolution. With the rise of extensive research and development activities, the usage of chemical sensors for different industries is growing rapidly.
Market Dynamics
Chemical sensors have huge potential applications for environmental monitoring. Growing energy usage, along with unwanted air pollution, is fueling the demand for advanced environmental monitoring technologies, which in turn is stimulating the application of chemical sensors globally. Additionally, increasing usage of chemical weapons is one of the prime factors behind the rising application of chemical sensors in the defense sector. Homeland security is one of the major factors behind the growth of the chemical sensors market globally.
Growing industrialization is one of the prime drivers behind the growth of chemical sensors in regions. The soaring consumption of different sorts of chemicals in industries is fueling the application of chemical sensors in different industry verticals. An increasing number of unwanted hazardous situations and exploration in factories are also contributing to the growing application of chemical sensors globally. Different industries are adopting chemical sensors as a preventive measure to identify, monitor, and regulate hazardous chemicals in the environment. Automotive is another major application area for chemical sensors. Increasing technological advancement in the automotive sector is boosting the application of chemical sensors.
Chemical sensors have potential application scope in the automotive industry globally. One of the major driving factors for the chemical sensors market is the increasing government initiatives to control emission levels and reduce carbon footprint. Additionally, chemical sensors also have applications in food and beverage, smart packaging, textiles and the agriculture industry, among others. Moreover, research laboratory equipment is another prime application area for chemical sensors. Technical issues related to detection range, sample size, and small-range signal processing may inhibit the growth of the market in different regions. The innovation of wireless chemical sensors, which are able to detect and identify chemicals without being in contact with them, is one of the prime opportunities for the market. Moreover, the application of chemical sensors in smartphones and gadgets is another prime opportunity for the chemical sensors market, which may positively impact the growth of this market.
Market Trends
North America held the highest market share in the chemical sensors market, followed by Asia-Pacific and Europe in terms of revenue. The increasing number of advanced vehicles being produced along with growing research activities are some of the prime contributing factors behind the growth of the chemical sensors market. The U.S. is leading the market across North America. Another major driver for the market is the growing concern about environmental monitoring. China, Japan, and South Korea, among others, are contributing to positive development in the market for chemical sensors across Asia Pacific. Germany, the U.K., France, and Italy are some of the major contributors to the chemical sensors market across Europe. Brazil and Argentina are both anticipated to see positive development over the forecast period owing to rising development in the industrial sector across Latin America. Increasing advancement in the field of healthcare and the automotive sector is aiding the growth of the chemical sensors market across Africa and the Middle East.
Segmentation Overview
By Type
By type, the chemical sensor market is segmented into optical sensor, electrochemical sensor, and catalytic bead among others.
- Optical sensor,
- Electrochemical sensor, and
- catalytic bead among others
By End Use Industry
By end use industry the market is segmented into automotive, defense and military, environmental monitoring, aerospace, homeland security, oil & gas, healthcare, industrial among others. In terms of revenue and volume electrochemical is leading the market for chemical sensors, followed by catalytic bead sensors. Additionally, oil and gas and automotive sector are leading the market for chemical sensors globally.
- Automotive,
- Defense and military,
- Environmental monitoring,
- Aerospace,
- Homeland security,
- Oil & gas,
- Healthcare,
- Industrial among others
By Geography
By geography, the market has been segmented into North America, Asia Pacific, Middle East & Africa (MEA), Europe and Latin America. In terms of revenue, North America accounted for the largest market share of the chemical sensors market, followed by Europe.
- North America,
- Asia Pacific,
- Middle East & Africa (MEA),
- Europe, and
- Latin America
Competitive Landscape
Majorcompanies operating in the chemical sensormarket are Yokogawa Electric Corporation (Japan), Siemens AG (Germany), F. Hoffmann-La Roche Ltd (Switzerland), Honeywell International, Inc. (The U.S.), Denso Corporation (Japan), Emerson Electric, Co. (The U.S.), Halma plc. (The U.K.), The Bosch Group (Germany), ABB Group (Switzerland), Alpha MOS (France).and Delphi Automotive PLC (The U.K.) among others.
Conclusion
Considering the rising concern towards environmental pollution and growing focus on homeland security is driving the growth for chemical sensors across different regions globally.
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