At 6+% CAGR Gas Sensors Market Potentially Worth $1,297.6 Million by 2023 Led by Oil & Gas Industry
PUNE, India, Aug. 3, 2017 /PRNewswire-iReach/ -- The gas sensors market is estimated to reach US$1,297.6 million by 2023 from US$812.3 million in 2016 at a CAGR of 6.83% during 2017-2023. Increasing enforcement of occupational health and safety regulations by the government, MEMS-based sensors, development of miniaturized wireless sensors, and increasing awareness of air quality control among users are the driving factors for the global gas sensors market. Browse 65 Market Data Tables and 37 Figures spread through 144 Pages and in-depth TOC on "Gas Sensors Market - Global Forecast 2023" http://www.reportsnreports.com/contacts/requestsample.aspx?name=565212 .
APAC to hold the largest gas sensors market share and is expected to witness the highest growth in the gas sensors market. The major drivers for the rapid growth of the said market in APAC are the rising investments in sectors such as infrastructure, housing, and medical care, which are attributed to the growing population and urbanization in the said region.
The gas sensors market for the oil & gas industry is expected to account for the largest market share by 2023 as a result of increasing oil & gas projects, replacement of obsolete sensors, and continuously increasing demand from oil & gas industries from emerging economies. Increasing shale gas production in the US will also drive the gas sensors market in the US.
The gas sensors market in APAC is driven by the strong economic growth and increases in manufacturing industries, such as automotive, and metals and chemicals. Advanced technologies, e.g., MEMS-based fabrication of sensors create the opportunity for the gas sensors market to grow. This technology has enabled miniaturization, production in high volume, and low-cost integration with electronics.
The consumer electronics is expected to grow at the highest rate during the forecast period. The consumer electronics segment is expected to grow at the highest rate as gas sensors are expected to be integrated into smart phones, tablets, and wearable devices to detect gases such as alcohol, carbon monoxide, carbon dioxide, nitrogen dioxide, and VOCs.
The report profiles the key players in gas sensors market. The prominent players profiled in this report are City Technology Ltd (UK), Dynament (UK), Alphasense (UK), Amphenol Corporation (US), Bosch Sensortec (Germany), ams AG (Austria), SenseAir AB (Sweden), Figaro Engineering Inc. (Japan), Membrapor AG (Switzerland), and Sensirion AG (Switzerland), and MSA (US).Order a Copy of "Gas Sensors Market by Gas Type (Oxygen, Carbon Monoxide, Carbon Dioxide, Ammonia, Chlorine, Hydrogen Sulfide, Nitrogen Oxide, Volatile organic Compounds, Hydrocarbons), Technology, End-Use Application, Geography - Global Forecast 2023" research report at http://www.reportsnreports.com/purchase.aspx?name=565212 .
In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (20%), Tier 2 (55%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (50%), Director Level (25%) and Managers (25%) from various key organizations operating in the gas sensors market. The primary interviews were conducted worldwide covering regions such as North America (60%), Europe (20%), APAC (10%) and RoW (10%).
Research Coverage: This research report categorizes the overall gas sensors market based on gas type, technology, end-use application, MEMS-based gas sensors, and geography. The report describes major drivers, restraints, challenges, and opportunities pertaining to the market as well as provides value chain analysis.
On a related note, another research titled Temperature Sensors Market Global Forecast to 2023 says, the temperature sensors market is expected to be valued at $6.86 billion by 2023, growing at a CAGR of 4.5% between 2017 and 2023. The chemicals and petrochemicals industries are likely to hold major shares of the temperature sensors market for process end-use applications by 2023. Asia Pacific will hold the largest market share, and the market in this region is expected to witness a high growth in the coming years. Companies such as ABB Limited (Switzerland), Analog Devices Inc. (US), Emerson Electric Corporation (US), Maxim Integrated Products Inc. (US), Siemens (Germany), TE Connectivity (Switzerland), Texas instruments Inc. (US) have been profiled in this 181 pages research report available at http://www.reportsnreports.com/contacts/requestsample.aspx?name=149829 .
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