Stratview Research has published a new report on the Industrial Gas Sensors Market and bifurcated the market by Product Type (Oxygen, Carbon Dioxide, Others), Technology (Electrochemical, Semiconductor, Infrared, Photoionization detector (PID)), End-Use Industry (Chemical and Petrochemical Industry, Oil and Gas Industry, Metal Industry), and Region - COVID-19 Impact Analysis and Forecast to 2026.
The Industrial Gas Sensors Market is projected to grow from USD 961.3 million in 2020 to USD 1384.2 million by 2026 at a CAGR of around 6.4% during the forecast period.
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- This report helps the users in understanding the strategies adopted by various key players across the globe, for the growth of the Industrial Gas Sensors Market.
- The report studies the market conditions across all geographic regions and the data compiled here in the report are comprehensively analyzed.
- The drivers and restraints of this market are systematically analyzed so that the user could make use of every particular driver/opportunity related to the market.
- The report highlights the value chain analysis that offers key insights to the stake holders of this market.
Segment-Wise Market Analysis
By application, the industrial gas sensors market has been bifurcated into the chemical and petrochemical industry, oil and gas industry, and metal industry. The chemical and petrochemical segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to the significant growth of the chemical and petrochemical industry in developing countries.
By region, the market in Asia-Pacific accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to the presence of established end-use industries such as chemical & petrochemical and oil & gas coupled with rising environmental regulations. The market in North America is expected to be driven by rising demand for industrial gas sensors in developing countries with expanding industrialization, particularly in China and India.
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