Chemical Sensors Market - Forecasts from 2018 to 2023

The global chemical sensors market is projected to witness a compound annual growth rate of 5.17% during the forecast period, to reach a total market size of US$9.141 billion by 2023, increasing from US$6.755 billion in 2017. The major factors driving the demand for chemical sensors worldwide are increasing concerns regarding the quality of air and rising adoption across industry vertical. Increasing expenditure on oil and gas exploration activities coupled with increasing demand for medical devices will drive the demand for chemical sensors. In addition, increasing number of diabetic patients will raise the demand for biomedical devices for monitoring their blood glucose level. This will further boost the demand for chemical sensors. North America held the largest market share in 2017 and will hold its position as a market leader by the end of our forecast period. The Middle East and Africa region will grow at the fastest rate owing to an increase in oil exploration activities and rising healthcare expenditure over the forecast period.

This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.

Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the chemical sensors value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.

Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are AirTest Technologies, Inc., AZO Sensors, Emerson Electric Company, Ocean Optics, Inc., Bioanalytical Systems, Inc., and Polestar Technologies among others.

Segmentation:

The global chemical sensors market has been analyzed through following segments:

By Type:

• Gas Sensors


• Biosensors

By End-User Industry:

• Oil & Gas


• Military and Defense


• Medical


• Automotive


• Others

By Geography:

North America

• USA


• Canada


• Mexico


• Others

South America

• Brazil


• Argentina


• Others

Europe

• Germany


• France


• United Kingdom


• Italy


• Spain


• Others

Middle East and Africa

• United Arab Emirates


• Israel


• Saudi Arabia


• Others

Asia Pacific

• China


• Japan


• South Korea


• India


• Others