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.
For detailed insights on enhancing your product footprint, request for a sample here www.factmr.com/connect…ep_id=3401
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
For critical insights on this market, request for methodology here www.factmr.com/connect…ep_id=3401
“High R&D spending to improve sensor lifespan will aid market growth over the coming years,” says a Fact.MR analyst.
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).
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise.
Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland.
Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.s
Visit Our Website: www.factmr.com
Category: Market Research Publishers and Retailers Profile: Fact.MR is focused on offering transformative intelligence that inspires breakthroughs and innovation. We believe that the right decisions at the opportune time are integral to achieve extraordinary success. We are here to help you with your strategic decision-making.
This content was originally published here.