Market Share of Chemical Sensor Industry
The Chemical Sensor Market is highly competitive due to the rise in chemical sensor companies across the world. The manufacturing cost of the sensor is low, which is drawing the attention of new players in the market. Innovations pertaining to artificial intelligence (AI) are the new unexplored space for the chemical sensor market. Some of the key players in the market are Smiths Detection Inc., General Electric Co., Hans Turck GmbH & Co. KG, Honeywell International Inc., and MSA Safety. These players are constantly innovating and upgrading their product offerings to cater to increasing market demand.
In August 2022, Honeywell International Inc. and Invensys plc announced that Honeywell Automation and Control Solutions (ACS) had signed an agreement to acquire Invensys Sensor Systems for USD 415.0 million in cash. Invensys Sensor Systems, a leading supplier of sensors and controls used in the medical, office automation, aerospace, HVAC, automotive, and consumer appliance industries, will become part of the Automation and Control Products unit of ACS.
In September 2022, ABB announced that it is acquiring a 10% stake in Samotics, the Dutch electrical signature analysis (ESA) technology provider, and has entered into a long-term strategic partnership with the company to offer enhanced condition monitoring services. The technology from Samotics works well with the ABB Ability Condition Monitoring service for powertrains, which is a sensor-based solution that analyzes the health and performance of rotating equipment.
Chemical Sensor Market Leaders
Smiths Detection Inc.
General Electric Co.
MSA Safety Incorporated
Pepperl+Fuchs Group
Honeywell International Inc.
*Disclaimer: Major Players sorted in no particular order
