Global Market for Gas Sensors and Gas Metering to be Worth $5.2 Billion in 2015
Wellesley, Mass. – According to a new technical market research report, Gas Sensors and Gas Metering: Applications and Markets (IAS012B) from BCC Research (www.bccresearch.com), the global market for gas sensors and gas metering is worth an estimated $3.9 billion in 2010, but is expected to increase to nearly $5.2 billion in 2015, for a 5-year compound annual growth rate (CAGR) of 5.9%.
The market segment made up of gas flow sensor/monitors is expected to reach $2.5 billion in 2015, after increasing at a CAGR of 6.7% from the estimated 2010 value of $1.8 billion.
The segment made up of gas flow meters is expected to increase from an estimated $1.5 billion in 2010 to nearly $2 billion in 2015, for a 5-year CAGR of 5.2%.
The secondary gas flow instrumentation segment is projected to reach nearly $665 million in 2015, after rising at a CAGR of 5.4% from the estimated 2010 value of nearly $510 million.
This report is an update of a 2005 BCC Research study on gas metering and gas sensors/monitoring, including instrumentation, process control, and automation systems for different applications. This report builds on the earlier work by describing and analyzing developments in the markets for commercial gas meters and gas sensors/monitors since 2005 and developing revised market projections that reflect these developments.
The market for gas flow meters and gas flow sensors and monitors has experienced considerable changes in the last 5 years, including internal changes (e.g., as a result of technological developments) and external shifts, particularly the global economic problems that began in 2008 and continue to affect the market in 2010. This report provides information useful to anyone concerned with the manufacturing, marketing, operation, and maintenance of gas metering and gas sensing/monitoring systems.