The latest report by IMARC Group, titled “Chemical Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global chemical sensors market size reached US$ 22.7 Billion in 2022. Chemical sensors include several devices and instruments used to detect the quantity, concentration, and presence of an analyte which refers to any molecule or element examined under a chemical condition. They transform chemical data such as composition, partial pressure, concentration, and the presence of an ion into an analytical signal. They also offer several benefits, such as smaller size, excellent accuracy, cost-effectiveness, real-time information about a sample, and automatic measurement. In addition, they indicate the presence of multiple chemical species in the sample and trace microorganisms using bio-compounds with membrane components or nucleic acid. As a result, chemical sensors are widely adopted in the automotive, oil and gas, military and defense, home security, and medical sectors across the globe.
Global Chemical Sensors Market Trends:
The market is primarily driven by the rising product adoption in various industries across the globe. In addition, the rising use of chemical sensors to monitor and detect industrial and automotive emissions and the functioning of wastewater treatment systems are contributing to market growth. Moreover, the widespread adoption of optical and chemical sensors in vehicle cabin air quality systems is accelerating the product adoption rate. Besides, the surging application of chemical sensors in the defense and military sector to detect explosive materials represents another major growth-inducing factor. Along with this, the increasing use of electrochemical sensors in the oil and gas industry to identify the smallest leaks, and gases, while monitoring confined spaces is providing a positive thrust to the market growth. The market is further driven by the extensive use of chemical sensors in the healthcare sector for fertility treatments, cancer, and renal diagnosis, blood sugar testing strips, portable glucose monitoring, and alcohol and drug abuse. Furthermore, the increasing adoption of centralized ventilation in residential and commercial spaces, various technological advancements, and mergers and acquisitions (M&A) among key players are other factors creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 32.6 Billion by 2028, exhibiting a CAGR of 6.75% during the forecast period (2023-2028).
- Based on the product type, the market has been categorized into electrochemical (potentiometric, amperometric, conductometric, and others), optical (infrared, photoionization, and others), pellistor/catalytic bead, semiconductor, and others. Presently, electrochemical sensors exhibit a clear dominance in the market.
- On the basis of the analyte, the market has been segmented into solid, liquid, and gas.
- Based on the application, the market has been classified into industrial (motor vehicles, food and beverage processing, and HVAC), environmental monitoring (industrial safety and emissions, water and wastewater, automotive emissions testing), medical (clinical diagnostics and nutritional), defense and homeland security and others. Among these, industrial applications represent the leading market segment.
- Region-wise, North America accounts for the majority of the global market share. Other major regions include Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the industry has also been examined in the report, with some of the key players being Smiths Detection Inc., AirTest Technologies Inc., Hans Turck GmbH & Co. KG, General Electric, Thermo Fisher Scientific, Bayer, MSA Safety Incorporated, Honeywell International Inc., Pepperl+Fuchs Group, SICK AG, Siemens AG, ABB Ltd, SenseAir AB, Spectris PLC, Denso Corporation, Halma PLC, and Owlstone Inc.
|Base Year of the Analysis
||Product Type, Analyte, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||Smiths Detection Inc., AirTest Technologies Inc., Hans Turck GmbH & Co. KG, General Electric, Thermo Fisher Scientific, Bayer, MSA Safety Incorporated, Honeywell International Inc., Pepperl+Fuchs Group, SICK AG, Siemens AG, ABB Ltd, SenseAir AB, Spectris PLC, Denso Corporation, Halma PLC, and Owlstone Inc.
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