Auto Industry News
Auto Bailout News
Auto Show News
Car Dealers News
| Automotive News
| Submit Press Release
(I-AutoNewsWire.com, June 03, 2021 ) The report "COVID-19 Impact on Gas Sensors Market by Technology (Electrochemical, MOS, IR, Catalytic, Laser), End-use Industry, and Region - Global Forecast to 2021", is projected to decline from USD 1,025 million in 2020 to USD 1,016 million by 2021, at a Compound Annual Growth Rate (CAGR) of -0.9% during the forecast period. Factors governing the gas sensors market include the growing demand from OEMs and medical device/equipment manufacturers for the production of critical care systems such as ventilators, respirators, and restricted demand conditions from automotive, oil & gas and chemicals, building & construction, and other sectors.
Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=154679514
Electrochemical gas sensing technology segment is projected to lead the gas sensors market during the forecast period.
Based on technology, the electrochemical gas sensing technology segment is expected to lead the gas sensors industry during the forecast period. Electrochemical gas sensors measure the concentration of a target gas by oxidizing or reducing the target gas at an electrode and measuring the resulting current. These sensors use less power and are less affected by changes in temperature and pressure than others. In addition, these sensors are resistant to interference.
Due to the COVID-19 pandemic, medical & healthcare segment is projected to register the highest CAGR during the forecast period.
Based on end-use industry, the medical & healthcare segment is expected to register the highest CAGR between 2020 and 2021. The use of gas sensors is increasing due to their versatility, necessity in the detection of harmful gases, and proper functioning of establishments. In the medical & healthcare sector, gas sensors are used in the manufacturing of critical care equipment such as ventilators, oxygen concentrators, and other respiratory systems. Increasing demand for these types of equipment in this current situation is also a driver for gas sensors in the industry.
Don't miss out on business opportunities in COVID-19 Impact on Gas Sensors Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=154679514
Browse in-depth TOC on "COVID-19 Impact on Gas Sensors Market”
15 - Market Data Tables
8 - Figures
65 - Pages
APAC is projected to register highest demand between 2020 and 2021 owing to presence of large medical equipment manufacturing base.
The gas sensors market in APAC is estimated to be the largest in the world. APAC has a large manufacturing base for medical instruments, equipment, and devices. Increasing requirement of these medical supplies from other COVID effected economies is boosting the production of gas sensors in the region. In addition, APAC has a broad base for oil refining, petrochemical processing, chemical processing, food & beverage processing, and others, which further supports the growth of gas sensors in the region.
Honeywell Analytics (US), MSA Safety (US), Amphenol (US), Figaro (Japan), and Alphasense (UK) are some of the leading gas sensors market players benefitting due to rise in demand in this COVID-19 scenario. Donations, increased production, supply chain remodeling, and new product development were the major growth strategies adopted by the market players during this period to enhance their regional presence and meet the growing demand for gas sensors in the affected regions.
Get This Report @ https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=154679514
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra