Air Flow Sensor Market Status & Revenue Forecast Recorded by 2018 to 2026
Air flow sensors are employed to measure the ratio between air and fuel. Numerous configurations are available that include analog and digital airflow sensors. They are extensively used in different industries like automotive, health care and aerospace. The air flow sensor industry analysis report highlights the drivers, restraints, opportunities and trends affecting market growth. Fact.MR report estimates that the global air flow sensors to value US$ 1,942.5Mn in the year 2018. Its value is projected to expand to amount US$ 2,577.1Mn by 2026. It is anticipated to grow at 3.6% CAGR in the coming years. The volume of the global market was 48,220 thousand in the year 2018. This volume is also expected to expand in near future and amount to 62,724 thousand Units by the end of the year 2026.
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The air flow sensor market report addresses the below-mentioned queries:
- Why are vendors shifting away from traditional methods of manufacturing air flow sensor?
- How does the global air flow sensor market looks like in the next five years?
- Which end use industry is expected to surpass segment by the end of 2026?
- What innovative products are being introduced by the players in the global air flow sensor market?
- Which regions are showing the fastest market growth?
Different factors like growth in old age population and improved health care infrastructure in regions like Europe and Asia Pacific are responsible for the growth in demand for air flow sensors. Developing and under developed regions are witnessing improvements in healthcare sector. Old age population is expected to amount to 8% of the global population by the end of the year 2020. The major medical conditions like respiratory problems, cardiovascular diseases and cancer are known to consume half of the total healthcare expenditure. This incremental graph raises the demand for different respiratory equipment like analyzers, sleep apnea machines, anesthesia, ventilators, oxygen concentrators, spirometers and patient monitoring systems.
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Japan projected to generate huge opportunities
The global air flow sensor can be broadly categorized into two types that are digital air flow sensors and analog air flow sensors of which the latter held 63.2% of the global market share in the year 2017. The global market can be segregated on the basis of end-use into automotive, healthcare, chemical, aerospace, food & beverages and building automation. Building automation segment is projected to own the largest share of the global market in the forecast period on the backdrop of surging HAVC demand in different developing and developed economies.