Air Flow Sensor Market Projected to Augment at a Notable CAGR during the Forecast Period until 2026

Posted on 2020-01-22 by Mark Hub in Industrial // 0 Comments

Air flow sensors are employed to measure the ratio between air and fuel. Numerous configurations are available that include analog and digital airflow sensors. They are extensively used in different industries like automotive, health care and aerospace. Fact.MR report estimates that the global air flow sensors to value US$ 1,942.5Mn in the year 2018. Its value is projected to expand to amount US$ 2,577.1Mn by 2026. It is anticipated to grow at 3.6% CAGR in the coming years. The volume of the global market was 48,220 thousand in the year 2018. This volume is also expected to expand in near future and amount to 62,724 thousand Units by the end of the year 2026.

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Different factors like growth in old age population and improved health care infrastructure in regions like Europe and Asia Pacific are responsible for the growth in demand for Air Flow Sensor Market. Developing and under developed regions are witnessing improvements in healthcare sector. Old age population is expected to amount to 8% of the global population by the end of the year 2020. The major medical conditions like respiratory problems, cardiovascular diseases and cancer are known to consume half of the total healthcare expenditure. This incremental graph raises the demand for different respiratory equipment like analyzers, sleep apnea machines, anesthesia, ventilators, oxygen concentrators, spirometers and patient monitoring systems.

Japan projected to generate huge opportunities

The global air flow sensor can be broadly categorized into two types that are digital air flow sensors and analog air flow sensors of which the latter held 63.2% of the global market share in the year 2017. The global market can be segregated on the basis of end-use into automotive, healthcare, chemical, aerospace, food & beverages and building automation. Building automation segment is projected to own the largest share of the global market in the forecast period on the backdrop of surging HAVC demand in different developing and developed economies.

Fact.MR report highlights the fact that China held 21.8% share of the global market in the year 2017 and will further maintain this dominance. Europe is the other region that is expected to experience major surge in the air flow sensor market. Japan is estimated it generate opportunities worth US$ 54.2Mn in the coming future. Air flow sensors market in MEA is forecasted to expand at a moderate rate.

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Prominent players in the sir flow sensors market are continuously developing new products. Innovation is the main strategy in order to gain competitive edge. Companies are practicing collaborations and acquisitions to get a greater penetration in market. Different aspects of air flow sensor like supply chain and retailing network have significantly improved, which boosts the growth of global air flow sensor market turn. Major stake holders profiled in global air flow sensor market are TE Connectivity, DENSO CORPORATION, Delphi Technologies, Continental AG, TDK Corporation, OMRON Corporation, Honeywell International Inc., First Sensor AG, HELLA GmbH & Co. KGaA, Siemens AG, and Robert Bosch GmbH.

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