Global Chemical Sensors Market Report, published by Variant Market Research, forecast that the global market is expected to reach $23 billion by 2024 from $15 billion in 2016; growing at a CAGR of 5.5% from 2016 to 2024. By geography, Asia Pacific and RoW are expected to grow at a CAGR of 6.4% and 5.8%, respectively, during the forecast period.

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Growing use of chemical sensors in environmental monitoring and rising demand for accuracy in diagnosis in healthcare sector are the major driving factors of the chemical sensor market. Furthermore, high demand for dissolved gas sensors for aquaculture industry and increasing use of semiconductor chemical sensors are fueling the growth of the market. However, decreasing automobile production testing may restraints the growth of the market. Additionally, market expansion and potable and wearable chemical sensor devices, low-cost, would provide growth opportunities during the upcoming years.

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The global chemical sensors market is classified into type and end-user. Segmentation by type contains electrochemical, catalytic bead, optical sensor, and other types. By end-user, the market is categorized into automobile, medical, oil & gas, environment monitoring, industrial, and other end-users. Among end-user segment, environmental monitoring is predictable to dominate the market with highest CAGR during the forecast period 2016-2024, due to unwanted release of pollutants and high energy usage which has led to increased focus on innovative monitoring technologies for environmental safety, restoration and remediation.

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Geographically, the global chemical sensors market has been categorized into North America, Europe, Asia-Pacific and RoW. North America accounted for the largest market share of 36% followed by Asia-Pacific with market share of 27.7%, in 2016. However, Asia Pacific is anticipated to dominate the market with fastest CAGR during the forecast period, driven by the adoption of advanced technologies and increasing automotive and healthcare sector.
The major key companies operating in the market are Siemens AG, BASF SE, Honeywell International Inc., Bosch GmbH, Emerson Electric Company, Thermo Fisher Scientific, General Electric, Delphi Automotive Plc, Abbott Laboratories, and AAB Group, among others.

Scope of Chemical Sensors Market

Type Segments
• Catalytic Bead
• Electrochemical
• Optical Sensor
• Others

End-UserSegments
• Medical
• Oil & Gas
• Industrial
• Automobile
• Environment Monitoring
• Others

Geography Segments
• North America
o US
o Canada
o Mexico

• Europe
o U.K.
o Germany
o Italy
o France
o Others

• Asia-Pacific
o China
o Japan
o India
o South Korea
o Others

• RoW
o South America
o Middle East
o Africa

About Variant Market Research

Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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