Automotive Hydrogen Sensors Market Size Hit USD 176.9 million at a CAGR of 3.8% in 2027
The growing need to monitor exhaust gases and leakage in hydrogen fuel cell-powered vehicles is driving the demand for the automotive hydrogen sensors market.
Market Size – USD 133.8 Million in 2019, Market Growth – CAGR of 3.8%, Market Trends –Growth in sales of fuel cell-powered passenger cars.
The global Automotive Hydrogen Sensors Market is forecasted to reach USD 176.9 Million by 2027, according to a new report by Reports and Data. The market for automotive hydrogen sensors is witnessing an increased demand as there is a need to optimize the performance of the hydrogen fuel cell system and also improve the concept of safety.
The production of alternative powertrains is playing an important role in the demand for automotive hydrogen sensors. The growing concern for environmental safety and the aim of several governments for the introduction of zero-emission powertrains will create a demand for fuel cell vehicles, in turn, propelling market demand. Hydrogen sensors are considered compact, low-cost, durable, and are also easy to maintain as compared to the other detectors.
In April 2019, Researchers at Sweden’s Chalmers University of Technology developed hydrogen sensors to meet the future performance target for usage in hydrogen-powered vehicles. The technology has the ability to detect 0.1% of hydrogen in the air in less than a second.
The COVID-19 impact:
The distribution of Covid-19’s has influenced manufacturing activities worldwide. Logistic constraints and reconsiderations of the specifications for raw materials are becoming a problem for producers all over the world. Lockdown measures to minimize the spread of the pandemic in many countries have had a major effect on the automotive industries, including the shut-down of several automobile manufacturing units. Over the weeks, the market has experienced a downturn that can continue in the coming months. The Asia Pacific region was the most affected by this pandemic, with China at the center of the outbreak. Most initiatives in multiple countries have changed to a temporary halt. Production and supply were put on hold, which caused losses for manufacturers, dealers, and consumers.
Key participants include City Technology Ltd., Figaro Engineering Inc., Membrapor AG, Siemens AG, Merit Sensor, Neohysens, Hydrogen Sense Technology, Multi Nano Sense, C2 Sense, and Bosch Sensortec, among others.
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The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2020-2028. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.
The Automotive Hydrogen Sensors Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Automotive Hydrogen Sensors Market.
Further key findings from the report suggest
- Electrochemical sensors in automotive are used to detect a wide range of toxic gases such as hydrogen sulfide and carbon monoxide. It is commonly used in the vehicle as it has low power requirements, a linear output, and a good resolution. The sensor provides an accurate reading on a target gas that is repeatable.
- The growing demand for passenger cars has created a demand for automotive hydrogen sensors as there is an increasing level of awareness among consumers regarding the benefits of fuel cell vehicles. Moreover, increasing demand for vehicle safety has also fostered the demand for the market product.
- The Asia Pacific holds a significant piece of the overall industry in terms of revenue, along with Europe and North America. In the Asia Pacific region, nations such as China and Japan have been seeing substantial requests for passenger vehicles. This is expanding the use of automotive hydrogen sensors in travel vehicles.
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For the purpose of this report, Reports and Data has segmented into the Global Automotive Hydrogen Sensors Market on the basis of type, vehicle type, measurement range, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Catalytic Sensors
- Electrochemical Sensors
- Metal Oxide Sensors
- Thermal Conductivity Sensors
Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)
- Passenger Vehicle
- Light commercial vehicle (LCV)
- Heavy commercial vehicle (HCV)
Measurement Range Outlook (Revenue, USD Billion; 2017-2027)
- 0-1000 ppm
- 0-2000 ppm
- 0-4000 ppm
- 0-40,000 ppm
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Saudi Arabia
- Rest of MEA
- Latin America
- Rest of LATAM
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Key Advantages of Automotive Hydrogen Sensors Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Automotive Hydrogen Sensors industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Automotive Hydrogen Sensors Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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