Fuel Cell Vehicles Market Worth $1.75 Billion By 2025

The global fuel cell vehicles market size is expected to reach USD 1.75 billion by 2025, according to a new report by Grand View Research, Inc., registering a 33.7% CAGR during the forecast period. This rapid growth can be attributed to increase in investments by governments over the world for development and adoption of fuel cells.

Fuel cell vehicles ensure emission-free operation, which will effectively reduce the carbon footprint and significantly drive product demand over the next few years. The key factor expected to drive the industry is advancements in fuel cell technology. Ongoing advancements have helped match performance with conventional fuel vehicles, with respect to power output and user experience.

Adoption of fuel cell vehicles worldwide is expected to rise over the forecast period due to increasing awareness about reducing harmful emissions, strict environmental regulations, and growing incentives for use of clean energy.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/fuel-cell-vehicle-market

Further key findings from the report suggest:

The global fuel cell vehicles market was valued at USD 194.5 million in 2017 and is expected to exhibit a CAGR of 33.7% over the forecast years owing to growing trend of clean energy consumption
Several government initiatives and programs to encourage the use of fuel cell vehicles have led to an increase in their adoption, subsequently increasing their demand over the past few years
North America accounted for the largest market share in 2017 and is anticipated to exhibit a CAGR of over 36.0% over the forecast period. This can be attributed to massive investments by the United States Department of Energy (DoE) in development of fuel cells and improvement of infrastructure
Although the Europe fuel cell vehicles market accounted for just over 3.0% of the overall market revenue in 2017, it is anticipated to be the fastest growing region with CAGR of more than 38.0% over the forecast period
Key market players include Toyota Motor Corporation, Honda Motor Company, Ltd., and Hyundai Motor Company. Apart from these, there are several other automobile manufacturers that are in the process of launching their fuel cell vehicles.

Gas Sensor Market Size Worth $4.10 Billion By 2027

The global gas sensor market size is anticipated to reach USD 4.10 billion by 2027, registering a CAGR of 8.3% from 2020 to 2027, according to a new report by Grand View Research, Inc. Factors such as increased demand for smart and wireless gas sensors and regulatory initiatives in developed markets of North America and Europe have propelled the adoption of gas sensors. The introduction of embedded electronics, coupled with sophisticated firmware and improved manufacturing techniques, has enabled developments in gas detection technologies.

A gas sensor is a device that detects the presence of gases in a particular area and is often integrated into a safety system. These sensors consume low power and can be integrated into portable handheld devices, which is expected to create opportunities for market growth.Technological developments, such as enhancement of Microelectromechanical Systems (MEMS) sensors, and need for hydrogen detection on account of its use as a fuel are also expected to contribute to the growth.

The increased adoption of gas sensors can be attributed to the high need for safety in the industrial sector such as oil and gas, power generation, and manufacturing.For instance, theOccupational Safety and Health Administration under the U.S. Department of Labor has implemented the Health and Safety at Work Act, which requires industrial facilities to install gas sensors for monitoring the emission levels and air quality among industries. In addition, implementation of advanced wireless sensor technologies with mesh network in industries is further creating opportunities for the market growth. The infrared technology segment is anticipated to witness substantial growth as it enables the measurement of a wide variety of gases including methane, carbon dioxide, and Volatile Organic Compounds (VOC) such as acetylene, benzene, and butane. This is anticipated to further fuel the market growth.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/gas-sensors-market

Further key findings from the report suggest:

The demand for gas sensors has increased over the years owing to their reliability in performance, real-time monitoring, and cost effectiveness
The demand for oxygen sensors is expected to be supported by the improved precision, decreasing per unit cost of sensors, and growing applications across end-use industries
The wired segment dominates the gas sensor market owing to the cost-effectiveness and accuracy. However, the demand for wireless segment is expected to witness significant over the forecast period, owing to the less complexity and easy accessibility
The high demand for electrochemical sensor can be attributed to their use in applications such as indoor air quality detection, emission control, and landfill gas detection
The U.S. government is investing considerable amount of monetary and non-monetary resources to encourage the adoption of gas sensors across various sectors and carry out initiatives such as smart cities
Stringent safety regulations to protect workers from hazardous gases in industries are boosting the market growth
Key market players include AlphaSense, City Technology Ltd.,Dynament Ltd., Figaro Engineering, Membrapor AG, Nemoto & Co., Ltd., Robert Bosch LLC., ABB Ltd., Siemens AG, and GfG Europe Ltd

Flow Sensor Market Size Worth $7.48 Billion By 2020

The global flow sensors market size is expected to reach USD 7.48 billion by 2020, according to a new study by Grand View Research, Inc. Increasing quest for new energy sources along with renewable energy development is expected to drive the market over the forecast period. Regulations governing the industry have been favorable in stimulating market growth for different types of sensor. For example, standards laid by the EPA for power plants have increased the demand for gas flow sensor which are effective in monitoring gas leakage. Various initiatives are taken into consideration for energy conservation and efficiency over the years worldwide. For instance, Omron Corporation offers high performance MEMS flow sensor to optimize air conditioning energy efficiency.

Further, the industry has witnessed high demand from numerous end-use industries. For example, in the automotive sector, active and passive safety sensor have witness tremendous growth due to the growing need for accident mitigation systems. Emission of hazardous gases has led to the framing of legislations for emission control and resulted in the need for monitoring the concentration of exhaust gases.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/flow-sensor-market

Further key findings from the study suggest:

The flow sensor market is expected to witness considerable growth over the forecast period. The need for new energy sources, including oil and gas exploration, and the growing significance of developing of renewable energy sources are expected to be key market drivers.
The process industries segment is poised for significant growth over the next few years, and accounted for over 25% of the overall market in 2013. Growing number projects and the establishment of new process plants along with reinvestments in plant modernization, renovation and capacity expansion are expected to fuel the market demand.
North America emerged as the dominant regional market in 2013 accounting for more than 30% of the overall market in the same year. Surging demand owing to rebound in automotive and machinery production along with regulatory mandates are expected to spur the regional market growth over the next six years.
Key industry players include Emerson Electric Company, First Sensor AG, Gems Sensors & Controls, Keyence Corporation, Omron Corporation etc. Manufacturers focus on investing in R&D activities as accuracy and reliability are major product selection criteria. Further, industry participants emphasize on product differentiation in order to avoid price competition.