Global Chemical Sensors Market Report, published by Variant Market Research, forecast that the global market is expected to reach $23billion by 2024 from $15billion in 2016; growing at a CAGR of 5.5% from 2016 to 2024.
"Chemical Sensors Market (By Type: Catalytic Bead, Electrochemical, Optical Sensor, and Others; By End-User: Medical, Industrial, Automobile, Oil & Gas, Environment Monitoring, and Others; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015 – 2024"

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A chemical sensor is a device that converts given chemical information into an electrical signal. A basic chemical sensor typically includes two functional components such as a transducer and a receptor, while some might include a separator. The chemical sensors have widespread applications in fields such as medicine, electricity, biology, mechanics, thermology, semiconductor technology, membrane technology, and home safety, among others.
Development of Portable & Miniaturized Chemical Sensors in The Industrial Sector Boost the Market

The global chemical sensors market is primarily driven by rising implementation of chemical sensors in the industrial sector, growing integration of sophisticated features of these sensors, and development of portable & miniaturized chemical sensors. Though, deterioration in automobile emission testing due to the dropping number of vehicles that need to be tested over the tailpipe may hamper the market growth. Moreover, demand for dissolved gas sensors in the aquaculture industry, and extensive use of biosensors in the medical sector could provide several growth opportunities for the market in the upcoming years.

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Market Segmentation

Type and end-user are the primary categorization considered in the global chemical sensors market. By type the market if further categorized into electrochemical, optical sensor, catalytic bead, and others. On the basis of end-user, the market is divided into industrial, oil & gas, environmental monitoring, medical, automobile, and others. North America, Europe, Asia-Pacific and Rest of the World (RoW) are the major geographical segments considered in the global chemical sensors market

Optical sensors dominated the market with fastest CAGR in the type segment
Optical sensors are likely to achieve the fastest CAGR and is expected to continue its trend during the forecast period i.e. 2016 – 2024. The growth is attributed because of their small size, low cost, and smart mechanism.
Environmental Monitoring is expected to grow with fastest CAGR in end-user segment
Within end-user segment, environmental monitoring is likely to reach at fastest CAGR throughout the forecast period 2016 – 2024, due to by high energy usage and unsolicited release of pollutants which has led to increased focus on advanced monitoring technologies for environmental protection, remediation and restoration.
Asia-Pacific Is Likely to Grow at The Fastest CAGR
North America and Asia-Pacific dominated the market with maximum share accounting 36% and 27.7% respectively in 2016. In terms of growth, Asia Pacific is expected to grow the market with fastest CAGR throughout the forecast period, driven by the application of advanced technologies and rising automotive and healthcare sector.

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Competitive Landscape

The key players profiled in chemical sensors market include BASF SE, Honeywell International Inc., Siemens AG, Abbott Laboratories, General Electric, Thermo Fisher Scientific, Delphi Automotive Plc, Emerson Electric Company, AAB Group, and Bosch GmbH, 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.

For further information, visit https://www.variantmarketresearch.com


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