Electrochemical Hydrogen Sensors Market: Recent Industry Developments and Growth Strategies Adopted by Players

Key Segments Covered

• Technology

  • Electrochemicals
  • Metal-Oxide Semiconductors
  • Thermal Conductivity
  • Catalytic

• Maximum Measurement Range

  • <2,000 ppm (parts per million)
  • <5,000 ppm
  • <10,000 ppm
  • <20,000 ppm
  • Above 20,000 ppm

• Utility

  • Fixed
  • Portable

• End Use

  • Industrial
    • Oil & Gas
    • Chemicals
    • Food & Beverages
    • Power & Energy
    • Others
  • Transportation
    • Automotive
    • Aerospace
    • Others
  • Residential & Commercial

• Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

Hydrogen Sensor Market- Scope of Report

A recent study by Fact.MR on the hydrogen sensor market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the development of hydrogen sensors.

The study also provides the dynamics that are responsible for influencing the future status of the hydrogen sensor market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies operating in the hydrogen sensor market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Analysis on Market Size Evaluation

The market has been analyzed for each market segment in terms of volume (‘000 Units) and value (US$ Mn).

Market estimates at global and regional levels for hydrogen sensors are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global hydrogen sensor market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the hydrogen sensor market during the forecast period.

Country-specific valuation on demand for hydrogen sensors has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

In-depth Analysis on Competitive Landscape

The report sheds light on leading manufacturers of hydrogen sensors, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of hydrogen sensors has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

North America currently accounts for a majority of the demand for hydrogen sensors, followed by Europe. This is due to the fact that, a sizable number of fuel cell vehicle manufacturers and oil & gas industries are located in these regions, and hydrogen sensors play a vital role in both these end-use industries.

Relative high research & development spending to introduce sensors with improved operational flexibility and enhanced lifespan are playing a vital role in developing the overall market for hydrogen sensors. Further, increase in demand from the power generation industry, and multitude of governments adopting respective national hydrogen strategies to reduce carbon footprint and develop local hydrogen infrastructure, are prime reasons for rising demand for hydrogen sensors.

As per the report published by Fact.MR, the hydrogen sensor market is anticipated to surpass US$ 300 Mn in 2021, and is poised to expand at a CAGR of around 6% over the next ten years.

Key Takeaways from Study

• The hydrogen sensor market is anticipated to add 2X value by 2031.
• Electrochemical hydrogen sensors capture a major chunk, equivalent to three-fourth of the global market share, and are set to create an absolute $ opportunity of around US$ 200 Mn over 2021-2031.
• Among the end uses, the transportation sector has been the fastest-growing segment, owing to rise of the automotive industry over the past decade.
• North America is set to dominate market revenue in 2021, and is expected to gain 59 BPS by 2031.
• The market in Germany, China, and the U.S. is expected to rise at around 7% CAGR through 2031.
• Due to the COVID-19 crisis, demand for hydrogen sensors was hit in 2020, which saw a decline of 2.6% over the 2nd and 3rd quarter.

“High R&D spending to improve sensor lifespan will aid market growth over the coming years,”says a Fact.MR analyst.