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Hydrogen Sensor Market

Hydrogen Sensor Market

Hydrogen Sensor Market Analysis Report By Technology (Electrochemical, Metal-Oxide Semiconductors), By Maximum Measurement Range (Less than 2,000 ppm, 5,000 ppm, 10,000 ppm, above 20,000 ppm), By Utility, By End Use, By Region - Global Insights 2022-2032

Hydrogen Sensor Market
FACT3401MR
  • Jan-2022
  • List of Tables : 183
  • List of Figures : 209
  • 170 Pages
  • Industrial Goods

Global Hydrogen Sensor Market Outlook (2022-2032)

The global hydrogen sensor market is likely to accumulate a market value of US$ 685 Mn in 2022 and is expected to register a CAGR of 6.2% by garnering a market value of US$ 1,250 Mn in the forecast period 2022-2032.

Market Size Value in 2022

US$ 685 Mn

Project Market Forecast Value in 2032

US$ 1,250 Mn

Global Growth Rate (2022-2032)

6.2%

Market Share of North America

45%

Key Companies Profiled

  • Honeywell International
  • City Technology
  • Figaro Engineering
  • Nissha FIS Inc.
  • SGX Sensortech
  • Siemens AG
  • MSA Safety Inc.
  • Membrapor AG
  • Makel Engineering
  • Aeroqual
  • SemeaTech

Demand is likely to be maximum across the automotive industry, accumulating over 2/5th of global market revenue, while 35% of hydrogen sensors sold are likely to be mechanical sensors.

Demand Analysis of Hydrogen Sensor from 2017 to 2021 Vs Market Projections for 2022 to 2032

From 2017 to 2021, the global hydrogen sensor market flourished at a CAGR of 3%.  As automotive and oil & gas industries are playing a major role in driving demand, rising production of FCEVs (fuel cell electric vehicles) over the period have strengthened the prices for hydrogen sensors. 

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.

Thus, the hydrogen sensor industry is to expand at a moderate rate of around 6% through and is expected to garner a market value of US$ 1,250 Mn by 2032, providing a promising stance for investors in the market. 

Production of Chemicals Bolstering Demand for 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.

How are Rising Investments in Hydrogen Technology for Power Generation Influencing 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.

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Country-wise Analysis

H2@Scale Program Creating Lucrative Opportunities for Hydrogen Sensors in North America?

The U.S. remains a 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.

Thus, 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. Due to the aforementioned factors, North America is expected to hold more than 45% market share for hydrogen sensors.

Presence of Automotive Manufacturing Units Paving Way for Usage of Hydrogen Sensors in Europe?

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.

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. Thus, Europe is expected to hold more than 30% market share for hydrogen sensors.

Hydrogen Sensor Market forecast analysis by Fact.MR

Category-wise Insights

Enhanced Flexibility of Electrochemical Sensors Increasing demand for Hydrogen Sensors?

An electrochemical sensor is a battery with gas being the active ingredient for overall battery reaction. Simplicity in operation and overall enhanced operational flexibility make 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 2021. This is because it has the highest operational capability among all types of hydrogen sensors. Thus, electrochemical sensors are expected to hold 35% market share for hydrogen sensors.

Electric Vehicles Accelerating Demand for Hydrogen Sensors 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. Thus, automotive industry is expected to hold more than 45% market share for hydrogen sensors.

An Adaptive Approach to Modern-day Research Needs

Competitive Landscape

  • For instance, City Technology has come up with an updated line-up of sensors under the 1series, which are smaller in size to their 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.

Key Segments Covered

  • By Technology

    • Electrochemicals-based Hydrogen Sensors
    • Metal-Oxide Semiconductors-based Hydrogen Sensors
    • Thermal Conductivity-based Hydrogen Sensors
    • Catalytic Hydrogen Sensors
  • By Maximum Measurement Range

    • Hydrogen Sensors <2,000 ppm (parts per million)
    • Hydrogen Sensors <5,000 ppm
    • Hydrogen Sensors <10,000 ppm
    • Hydrogen Sensors <20,000 ppm
    • Hydrogen Sensors above 20,000 ppm
  • By Utility

    • Fixed Hydrogen Sensors
    • Portable Hydrogen Sensors
  • By End Use

    • Hydrogen Sensors for Industrial Use
      • Oil & Gas
      • Chemicals
      • Food & Beverages
      • Power & Energy
      • Others
    • Hydrogen Sensors for Transportation
      • Automotive
      • Aerospace
      • Others
    • Hydrogen Sensors for Residential & Commercial Uses

- FAQs -

As of 2022, the market for hydrogen sensor is forecast to reach nearly US$ 685 Mn
The hydrogen sensor industry is expected to surpass a CAGR of 6.2% from 2022-2032.
The hydrogen sensor market is expected to reach nearly US$ 1,250 Mn by 2032
Increasing demand from automotive industry and investment in sustainable projects by governments across the globe are the key trends driving hydrogen sensor sales.
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.
Electrochemical sensors are expected to gain more than 35% market share for hydrogen sensor market.
The automotive industry is expected to hold more than 45% market share for hydrogen sensor market.
The hydrogen sensor industry is expected to possess nearly 45% market share throughout North America.
The hydrogen sensor industry is expected to possess nearly 30% market share throughout Europe.

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