Explore the Electrochemical Hydrogen Sensors to create an absolute $ opportunity of around US$ 200 Mn over 2021-2031 – WhaTech

Demand for Hydrogen Sensors to Surge on Back of Green Hydrogen Project Developments, Evaluates Fact.MR

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.

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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

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

Winning Strategy

Vital players have been spending on research & development to come up with newer sensors with improved lifespan and higher operational flexibility. These enhancements will drive the growth of the hydrogen sensor market in the medium- to long-term forecast period.

For comprehensive insights on this market adoption, ask an analyst here www.factmr.com/connect…ep_id=3401

More Valuable Insights

Fact.MR, in its new offering, presents an unbiased analysis of the global hydrogen sensor market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of technology (electrochemical, metal-oxide semiconductor, 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 [oil & gas, chemicals, food & beverages, power & energy and others], transportation [automotive, aerospace, and others], and residential and commercial), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

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