- Press Release -

Fact.MR predicts the global sales of hydrogen sensors to surpass US$ 1,250 Mn by registering a positive CAGR of over 6% in the forecast period 2022-2032. 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.

Historically, from 2017 to 2022, the global sales of hydrogen sensors experienced a CAGR of 3%. The onset of the COVID-19 pandemic affected supply and demand of various end user industries across the globe. Thus, the demand for hydrogen sensor dipped in the initial quarter of the pandemic. As the world is getting back to normalcy, the sales of hydrogen sensors are expected to retrieve.

Further, an 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.

Key Takeaways from Market Study

• By sensor, electrochemical sensors expected to gain more than 35% market share for hydrogen sensor market.
• By end user, automotive industry expected to hold more than 45% market share for hydrogen sensor market.
• Hydrogen sensor industry expected to possess nearly 45% market share throughout North America.
• Hydrogen sensor industry expected to possess nearly 30% market share throughout Europe.
• Global market for hydrogen sensors to be valued at US$ 685 Mn by the end of 2022

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

Competitive Landscape

• In October 2021, Honeywell International released two new Bluetooth gas detectors. These detectors continuously monitor gas leaks in rain, snow and fog. The Bluetooth connectivity allows quicker and easier delivery maintenance.
• Honeywell International, City Technology, Figaro Engineering, Nissha FIS Inc, SGX Sensortech, Siemens AG, MSA Safety Inc., Membrapor AG, Makel Engineering, Aeroqual, SemeaTech are prominent hydrogen sensor market players.

More Valuable Insights

Fact.MR, in its new offering, presents an unbiased analysis of the global hydrogen sensor market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.

The study indulges essential insights on the market on the basis of technology (electrochemicals, metal-oxide semiconductors, thermal conductivity and catalytic), maximum measurement range (<2,000 ppm, <5,000 ppm, <10,000 ppm, <20,000 ppm and above 20,000 ppm), utility (fixed and portable) and end use (industrial, transportation and residential & commercial) across seven major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania and MEA).

About the Industrial Division at Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Industrial team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the automotive industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

For more information, refer to our market research report or contact the PR author.

Shubham Patidar

Fact.MR

Consultant - Industrial Goods and Automotive

E-mail: Shubham@factmr.com