About the Report
Hydrogen sensors are embedded in hydrogen detectors and monitoring systems to locate hydrogen leaks. Hydrogen is toxic and flammable, because of which it, requires regular monitoring, and that is why these sensors are commonly used in industries that either produce or consume hydrogen gas, ranging from oil & gas, chemicals, food & beverages, electronics, power & energy generation, automotive, aerospace, and numerous others, with transportation leading the way. For example, constant monitoring of hydrogen flow is necessary in volatile reactions, such as fertilizer production.
Additionally, various end-use industries such as automotive have numerous applications of hydrogen sensors, as hydrogen is being observed as a potential alternate fuel that could change the economics of the fuel industry. Rapid shift in the dynamics of the fuel industry and its leaning towards hydrogen will bolster demand for hydrogen sensors over the coming years.
Foremost objective of the report by Fact.MR on the hydrogen sensor market is to pitch insights on the market scenario, demand generators, and technological advancements in this space. The report provides a taxonomy elaborating on key segments. The report also outlines visionary insights on the dynamics of the market, including the drivers, restraints, opportunities, trends and pricing analysis, along with key success factors. Market trends have been tracked in 20+ high-growth countries, pointing towards countries in North America, Europe, and East Asia holding bulk of the market share.
Historical Trends Vs Future Projections
From 2016 to 2020, the global hydrogen sensor market exhibited a low CAGR of around 3%, with automotive and oil & gas industries playing a major role in driving demand. Rising production of FCEVs (fuel cell electric vehicles) over the period strengthened the prices for hydrogen sensors. This is attributed to the fact that, hydrogen infrastructure development is on the rise in a majority of high-potential areas. However, in FY2020, due to the COVID-19 pandemic, market growth dipped, owing to demand contraction from the oil & gas and power generation industry. Apart from this, shrinkage in demand was observed from the chemicals industry as well.
Owing to these factors, demand over the long-term forecast period can be estimated by breaking the forecast timeline into three parts.
- Short-run: Recovery growth is set to be observed over this term.
- Medium-run: Demand and price normalization are set to be observed over this period.
- Long-run: Economic cycles and inflation rates to affect demand and pricing of the product.
All in all, the hydrogen sensor industry is to expand at a moderate rate of around 6% through 2031, providing a promising stance for investors in the market.
What are the Primary Applications that Generate Demand for Hydrogen Sensors?
Hydrogen finds utilization in the production of ammonia as a chemical (NH3) (mainly for fertilizers), as a catalyst and chemical feedstock, and as a hydrogenizing agent for the manufacture of food, pharmaceutical, and petrochemical products. Consumers utilizing macroscale hydrogen for the production of chemicals and petrochemicals tend to produce it on-site and utilize it for captive consumption on an aggregate basis or on a partial basis, as such, paving the way for extensive utilization of hydrogen at multiple nodes in the industry.
Hydrogen also emerges as a low-carbon fuel alternative for transportation, power generation, and development purposes, since it can decarbonize these three broad sectors of the economy. Hydrogen has the highest energy content per unit of weight of a typical fuel, but is less dense than other fuels, which hinders its large-scale deployment.
Although the use of hydrogen fuel is not common, interest in its use as a possible fuel source has increased. Its usage in many countries is expected to increase dramatically by 2050 in the transition to a low-carbon economy.
Which Region Offers Great Potential for Hydrogen Sensors?
The North American region, specifically the U.S., accounted for the highest demand for hydrogen sensors due to the presence of a large number of oil refineries, nuclear power plants, and automotive industries. Further, the U.S. Department of Energy is giving a push towards hydrogen-powered vehicles, which has provided an impetus to the thriving demand for hydrogen sensors.
Further, the European region has unveiled its EU Hydrogen strategy, and plans to transform its energy system and become carbon neutral by 2050. Hydrogen can help decarbonize the industry, transport, power generation, and buildings throughout Europe in an integrated energy system.
Renewable hydrogen generated mainly with wind and solar energy would be developed as a priority. However, for short- and medium-term reduction of emissions and development of a sustainable market, other forms of low-carbon hydrogen are required.
However, the East Asian region is poised to be the growth hotspot for a hydrogen-driven economy, with the Chinese government giving the push towards a hydrogen-based economy. It has laid down 50 policies that support hydrogen. Such initiatives will bolster demand for hydrogen-based sensors market in the long-term forecast period.
Why is the U.S. a Huge Market for Hydrogen Sensors?
The U.S. remains the major contributor to the growth of the hydrogen sensor market, as around ten million metric tons of hydrogen is produced every year. Further, the U.S. government has the H2@Scale program in place, which explores the potential for wide-scale hydrogen production and utilization in the country.
Additionally, in 2020, DOE announced US$ 64 million funding for 18 projects under H2@Scale for affordable hydrogen production, distribution, storage, and use. Such a positive government stance along with major automotive manufacturers’ push towards using hydrogen as a fuel is providing an impetus for the growth of the hydrogen sensor market during the forecast period.
What Makes China the Growth Epicentre for Hydrogen Sensors?
The Chinese market remains the growth epicentre for hydrogen sensors, amid the government’s strong push towards developing sustainable hydrogen infrastructure. Starting from listing hydrogen as an energy source to promoting FCVs and providing sizeable subsidies for developing new energy vehicles (NEV), the Chinese government is leaving no stone unturned.
This, along with Chinese SPIC partnering with Siemens in 2020, to set up China’s largest green hydrogen power generation plant, is paving the way for future growth of the hydrogen market, and, in turn, hydrogen sensors over the coming years.
Will Demand for Hydrogen Sensors Keep Increasing in Germany?
Germany remains one of the high potential regions for hydrogen sensors, since it is home to some of the largest automotive manufacturing units. Moreover, the German government’s national hydrogen strategy launched in 2020 aims to develop a competitive market for hydrogen, and assume global responsibility to establish hydrogen as an alternative energy carrier.
Moreover, the country has a vision to develop a home market for hydrogen infrastructure, not only to power its industries but also to establish hydrogen markets and international cooperation. Such initiatives are paving the way for growing demand for hydrogen sensors within the country.
Which Hydrogen Sensor Technology Accounts for the Highest Demand?
An electrochemical sensor is a battery with gas being the active ingredient for overall battery reaction. Simplicity in operation and overall enhanced operational flexibility makes it a prime choice for OEMs and gas detection equipment manufacturers, due to its integration in production units.
Considering all types of hydrogen sensors based on technology, electrochemical sensors accounted for the largest share in the hydrogen sensor landscape in 2020. This is because it has the highest operational capability among all the types of hydrogen sensors.
Among the sensor utility types, portable sensors accounted for maximum demand, since portable gas sensors find varied uses in numerous end-use industries. For instance, portable sensors are used in gas detection equipment carried to inspection sites in the oil & gas industry, to check for hydrogen gas leakages.
How Big is the Opportunity in Automotive Industry?
The automotive industry has been a key contributor to the growing demand for hydrogen sensors. This is because hydrogen fuel is being seen and starting to get mainstream by numerous vehicle manufacturers as a power source in fuel cell electric vehicles. Boost provided to the hydrogen economy by regional governments will highly cascade the effect to the growth in demand for complementary products such as hydrogen sensors.
Regional governments’ are fast-forwarding hydrogen demand by providing basic impetus, such as state procurement of fuel cell electric vehicles. This is set to act as an aggregate driver providing a major domino effect to the automotive sector and enhancing the requisite for hydrogen sensors.
FCEVs are more efficient than conventional internal combustion engine vehicles, and produce only water vapour as emission. Besides, FCEV and hydrogen infrastructure needed to sustain FCEVs in their infancy stages is increasing, and numerous researches are on to implement this technology on a larger scale, as countries are looking towards green energy usage.
As such, there remains a huge opportunity for vehicle and fuel cell manufacturers to capitalise on the increasing move towards green hydrogen, which has for long remained the fuel of the future.
How are Rising Investments in Hydrogen Technology for Power Generation Affecting Demand for Hydrogen Sensors?
Big guns providing hydrogen sensors are investing heavily in hydrogen technology, specifically green hydrogen projects.
- For instance, Siemens signed an agreement with SPIC (State Power Investment Corporation Limited) China for the development and utilisation of green hydrogen, which will power various needs and contribute to the creation of a cleaner energy ecosystem in China.
- Similarly, RWE signed an agreement with ThyssenKrupp Steel Europe to install an electrolyser facility at Lingen, and produce green hydrogen for Thyssenkrupp Steel’s Duisburg steel mill.
Swelling investments are to form the basis of increased demand for hydrogen sensors, which find utilization in a series of applications in such power generation projects.
How has COVID-19 Impacted Sales of Hydrogen Sensors?
Natural disasters and pandemics such as COVID-19 are unforeseen, and have affected all economies across the globe. COVID-19 has also resulted in impacting the demand for hydrogen sensors, backed by the imposition of lockdowns and demand drop from oil & gas and automotive industries, which happen to be the prime consumers of hydrogen sensors.
Moreover, decreased demand and fluctuating industrial output have negatively impacted the market, which is extremely fragmented in nature. In addition to this, it is anticipated that, industrial output will rekindle its previous size by the third quarter of 2021, and so will hydrogen sensor demand during the forecast period.
What is the Pricing Equilibrium in the Hydrogen Sensor Space?
Hydrogen sensor prices have been steadily increasing over the past half-decade. Key players present in regions such as East Asia and Europe are seen as major contributors to market growth.
Apart from the above-mentioned factors, foreign trade tariffs amongst powerful economies played a major governing role in deciding the global average price. Therefore, prices are expected to increase at a nominal inflation.
Fact.MR has profiled the following prominent hydrogen sensor manufacturers in its report:
- Honeywell International
- City Technology
- Figaro Engineering
- Nissha FIS Inc.
- SGX Sensortech
- Siemens AG
- MSA Safety Inc.
- Membrapor AG
- Makel Engineering
Aforementioned players rely on a blend of organic and inorganic strategies to deepen penetration across lucrative markets. These strategies include product launches, collaborations with key players, partnerships, acquisitions, and strengthening of regional and global distribution networks.
- For instance, City Technology has come up with an updated line-up of sensors under the 1series, which are smaller in size to its existing counterparts, and have turrets to provide ease in mounting. Further, they have higher operational flexibility and extended life of around 5 years, which is way above the industry average of 2 years.
Similarly, recent developments related to companies manufacturing hydrogen sensors have been tracked by the team at Fact.MR, which is available in the full report.
Historical Data Available for
US$ Mn for Value
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Customization & Pricing
Key Questions Answered in Report
How will the hydrogen sensor market expand until 2030?
Fact.MR projects the market to register a CAGR close to 6% by volume across the 2021-2031 assessment period. Higher penetration in the automotive industry will bolster demand over the coming years.
Which country is the most prominent growth contributor?
As per Fact.MR’s projections, the U.S. is expected to hold a pivotal role driving demand for hydrogen sensors. Surge in demand from oil & gas and automotive industries is set to be observed across the country.
Which players are prevalent in this landscape?
Prominent players manufacturing hydrogen sensors include Honeywell International, City Technology, Figaro Engineering, Nissha FIS Inc., SGX Sensortech (Amphenol), Siemens AG, MSA Safety Inc., Renesas, Membrapor AG, Makel Engineering, Aeroqual, SemeaTech, Nemoto, Bosch Sensortec, and others.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
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Key Segments Covered
- Metal-Oxide Semiconductors
- Thermal Conductivity
Maximum Measurement Range
- <2,000 ppm (parts per million)
- <5,000 ppm
- <10,000 ppm
- <20,000 ppm
- Above 20,000 ppm
- Oil & Gas
- Food & Beverages
- Power & Energy
- Residential & Commercial
- North America
- Latin America
- 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.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of hydrogen sensors across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of hydrogen sensors during the forecast period. Price point comparison by region with global average price is also considered in the study.
Fact.MR has studied the hydrogen sensor market with detailed segmentation on the basis of technology, maximum measurement range, utility, end use, and key regions.
Maximum Measurement Range
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”
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.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the hydrogen sensor market. Prominent companies operating in this space include City Technology, Honeywell International, MSA Safety, SGX Sensortech (Amphenol), Figaro Engineering, Nissha FIS Inc., Siemens AG, Senko, Bosch Sensortec, Renesas, and others.
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