Automotive Hydrogen Sensor Market 2022-2027: Advancements In Technology And Investment In Research For The Development
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.
The key
players studied in the report are:
·
City Technology Ltd.,
·
Figaro Engineering Inc.,
·
Membrapor AG,
·
Siemens AG,
·
Merit Sensor
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The study covers latest industry information, growth opportunities, and trends. It further explains in detail the competitive landscape of the industry with regional and global analysis and profiles of each competitor. The report highlights the recent mergers and acquisitions, collaborations, joint ventures, government initiatives, product launch or brand promotion, licensing agreements, and memorandum of understandings happening in the market. The report further offers data about key competitors including their manufacturing and production capacities, product portfolio, gross profit margins, strategic expansion plans, and projects and products in pipeline.
The automotive industry has expanded significantly
over the recent past with a rapid rise in technology-driven trends such as
diverse mobility, electrification of transportation sectors, autonomous
driving, and integration of advanced technologies such as AI, ML, and deep
learning in autonomous driving systems. Increasing trend of self-driving cars
across the globe, rising investment in development of sophisticated and
luxurious autonomous cars, and growing shift towards electric and hybrid
vehicles to curb carbon emissions are some factors expected to drive revenue
growth of the market over the forecast period. Trend of micromobility,
connected and shared mobility, and increasing popularity of vehicle
connectivity are disrupting the automotive industry and are expected to boost
sales of autonomous and advanced cars over the coming years. In addition, rapid
emergence of ride sharing platforms and apps, increasing investment to develop
robust electric vehicle charging stations, and rising reliance on real-time
predictive analytics to inform users of incoming traffic, navigations, and
quicker routes are some other factors contributing to rapid growth of the
automotive industry.
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Major
geographical regions analysed in the report include: -
·
North America (U.S.A.,
Canada, Mexico)
·
Europe (Italy, U.K., Germany,
France, Rest of Europe)
·
Asia Pacific (China,
India, Japan, South Korea, Australia, Rest of APAC)
·
Latin America (Chile,
Brazil, Argentina, Peru, Rest of Latin America)
·
Middle East & Africa (Saudi
Arabia, U.A.E., South Africa, Rest of MEA)
The report offers a country-wise and region-wise
analysis to provide better understanding of the geographical expansion of the
market and the current trends, demand and supply, customer trends, production
and consumption trends, and import/export of each country in the region.
Further, the report segments the Automotive Hydrogen Sensor market on the basis
of products, applications, and end-use, among other segments and offers details
about the segment expected to account for largest revenue share or rapid
revenue CAGR and the key trends and factors influencing the revenue growth.
On the basis
of Type:
- Catalytic Sensors
- Electrochemical Sensors
- Metal Oxide Sensors
- MOSFET
On the basis
of Vehicle Type:
- Passenger Vehicle
- Light commercial vehicle (LCV)
- Heavy commercial vehicle (HCV)
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