According to a research report titled ‘Global Electrochemical Sensor Market Size study, by Type (Potentiometric Sensors, Amperometric Sensors, Conductometric Sensors), by End-Use Industry (Oil and Gas, Chemical and Petrochemicals, Medical, Automotive, Food & Beverage, Other) and Regional Forecasts 2020-2027’, available with Market Study Report, global electrochemical sensor market was valued at USD 5.6 billion in 2019 and is anticipated to register 11.4% CAGR during 2020-2027, accruing USD 13.3 billion by forecast timeframe end.
 

Expert analysts and researchers cite that heavy demand for sensors from chemical and oil & gas sectors to measure temperature and pressure metrics, as well as strict government rules and regulations for occupant safety at hazardous locations are the major factors responsible for global electrochemical sensor market growth.
 

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For the unversed, electrochemical sensors are devices used to detect oxygen and other toxic gases. These sensors help to determine the concentration of a particular gas in an external circuit. These sensors also provide real-time information about system configuration by combining the electrochemical transducer with a chemically selective layer. Additionally, electrochemical sensors are able to withstand higher temperatures and humidity-levels and can also monitor toxic and non-toxic gases such as hydrogen sulfide, carbon monoxide.
 

Despite the lucrative prospects of global electrochemical sensor industry, factors such as lack of skilled professionals, and prolonged duration of certification and approval of the technology by government authorities are expected to impede business development in the forthcoming years.
 

On the regional front, North America is leading in terms of market share due to rising number of government initiatives for disruptive products and technologies, and presence of significant number of technology vendors in the region.
 

Meanwhile, Asia-Pacific electrochemical sensor market size is projected to grow at a remarkable rate during the forecast period. This can be accredited to high prevalence of large-scale manufacturing plants, and government norms for safety of individuals in workplaces across developing countries such as China and India.
 

Elaborating on the competitive landscape, Emerson Electric Co., Thermo Fisher Scientific, Inc., Conductive Technologies Inc., Drägerwerk AG & Co. KGaA., Honeywell Analytics, SGX Sensortech Ltd., Figaro USA Inc., Delphian Corp., Ametek, Inc., and Alphasense Technology India Pvt. Ltd. are the top contenders in global electrochemical sensor market.