Aug 12, 2020 (AmericaNewsHour) --
The global electrochemical sensorsmarket was valued at US$ 4.5 Billion in 2017 and is expected to reach US$ 9.02 Billion by 2022 growing at a CAGR of 7.97% during the forecast period 2017-2022. Electrochemical approaches offer the detection of signal combined with a method of transducing it into the electrical domain. The uncovering of the wide range of applications in allied industries including environmental sector and defence has been impelling the growth in the chemical sensors market. Along with that, there is a growing concern about environmental pollution and increasing number of government initiatives to control the emission which is fueling the demand for chemical sensors in different regions worldwide.
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Electrochemical sensors are expected to see the highest growth during the forecast period, with the demand reflecting in the improvement in manufacturing. The key drivers of this market include the demand for quick, accurate diagnosis in the medical sector, increase in the production of light vehicles, advancements in the automotive sector and other technological advancements which are forming the very basis for its increasing uptake.
However, the growth of this market is now being obstructed because of the reduction in the testing of automobile emissions due to the fall in the number of vehicles that need testing through the tailpipe.
The electrochemical sensors market is segmented on the basis of type, end-user industry and geography. Based on the type, the market has been segmented into potentiometric sensors, amperometric sensors, conductometric sensors and others.
The market by end-user industry is sub-segmented into medical, automotive, industrial, environmental monitoring, defense and others. Finally, the market by geography includes North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.
Among all the regions, the Asia-Pacific region is predicted to advance at the highest rate when compared to other regions because of the presence of developing countries such as China and India. This is mainly driven by the increased vehicle production, growing healthcare infrastructure and shift of manufacturing facilities in low-cost countries in the region. It is followed by Europe and North America.
There lie huge opportunities in the medical industry, which is one of the prominent end-user industries for electrochemical sensors. Growing technological advancement in the medical sector is fueling the demand for electrochemical sensors across different regions worldwide. Also, the growing penetration of chemical sensors in the defense segment, industrial sector, and homeland security is expected to promote the market in the short, medium, and long-term.
Some of the leading suppliers of electrochemical sensors in the market are General Electric (U.S.), Teledyne Technologies Incorporated (U.S.), Honeywell International Inc. (U.S.), Emerson Electric Company (U.S.), Siemens AG (Germany), and among others.
Report Contents Regional Analysis Report Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market - Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
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Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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The post Electrochemical Sensors Market 2020-2022 / Trends, Development, Revenue, Demand and Forecast appeared first on America News Hour .
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