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The advanced carbon dioxide sensors market size is projected to increase by USD 328.6 million at a CAGR of 7.17% between 2023 and 2028. The market's growth depends on several key factors, including the proliferation of advanced submersible carbon dioxide sensors in emerging markets, the expansion of the global construction market, and the increasing adoption of building automation systems. Advanced submersible CO2 sensors are becoming more prevalent in emerging markets, driven by their necessity for environmental monitoring and industrial applications. The global construction market's growth fuels demand for various materials and technologies, contributing to market expansion. Additionally, the rising adoption of building automation systems enhances efficiency and sustainability in the construction industry, further boosting market growth. These factors collectively highlight the importance of technological advancement, industry growth, and automation in driving market development.
The market growth and forecasting report includes key player's detailed analyses of the competitive landscape of the market and information about 20 market companies, including Aeroqual Ltd., Airtest Technologies Inc., AMETEK Inc., Amphenol Corp., Asahi Kasei Corp., Cubic Sensor and Instrument Co. Ltd., Digital Control Systems Inc., E E Elektronik Ges.m.b.H, Gas Sensing Solutions Ltd., Honeywell International Inc., Infineon Technologies AG, Johnson Controls, NEW COSMOS ELECTRIC Co. Ltd., RKI Instruments Inc., Schneider Electric SE, Sensirion AG, Siemens AG, Trane Technologies plc, Trolex Ltd., and Vaisala Oyj. Additionally, Airtest Technologies Inc. offers advanced carbon dioxide sensors such as CO2 Guard 10, and TR9277-EO.
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The market is growing rapidly due to increasing emissions of hazardous gases like methane, nitrous oxide, and fluorinated gases. This rise in air pollution and greenhouse gases contributes to higher temperatures and rising sea levels, prompting stringent regulations and heightened awareness. Cash flow analysis and profit ratio analysis highlight the market's potential, while attractiveness analysis in the investor and stakeholder space underscores its appeal. The market's holistic evaluation considers the impact of combustion and land modifications. Advanced CO2 sensors are vital in monitoring and mitigating these environmental challenges, driving their demand and technological advancement. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
The proliferation of advanced submersible carbon dioxide sensors in emerging markets is driving growth in the market. One of the most important issues for economies worldwide is pollution. Industrialization has also been a major factor contributing to global water pollution. Furthermore, water bodies with harmful and contagious substances have been polluted as a result of the rapidly increasing population worldwide. Traditional carbon dioxide sensors available in the market focus are not efficient enough to track the composition of carbon dioxide detectors that can be used underwater as submersible sensors to measure the levels of carbon dioxide and other gases in any given water body.
However, environmental experts are supported by governments across the globe to proceed with these initiatives for tracking carbon dioxide levels in water bodies with the help of submersible carbon dioxide sensors. The growth of the Global Market during the forecast period is being driven by factors that are contributing to these countries' development, e.g. an increase in their population density and rapidly increasing industrial production. Moreover, governments' responsibility to ensure the protection of the environment and the human habitat from large dumps of industrial and human waste is driving the demand. All these factors are expected to contribute to the growth of the global market during the forecast period.
The increase in institutional use of advanced carbon dioxide sensors is a primary trend in the market. Teachers are making the switch to these sensors in their classrooms, benefiting from better medical conditions for pupils, moisture control, energy savings, and reduced greenhouse gas emissions. It reduces absenteeism and student performance by maintaining appropriate ventilation in classrooms. Because of the benefits in terms of air quality preservation, energy savings and detection of toxic carbon dioxide levels in closed areas, institutions such as schools, research facilities or government buildings are using sophisticated CO2 sensors.
With the emergence of smart homes across the world, the use of these products in homes is increasing drastically. To monitor indoor levels of carbon dioxide, advanced CO2 sensors are part of the sensor installations that are being included in Smart homes. Such factors are expected to drive the growth of the global market during the forecast period.
The interoperability problem is a major challenge faced by the market restrain. There is a lack of interoperability between hardware components when installing advanced CO2 sensors in buildings and building automation solutions since these new control equipment may not be compatible with existing lighting, heat pumps, or other systems. Interoperability, particularly in older buildings like government buildings, is being impeded by the development of technology and product upgrades across the building automation and control systems sector.
Moreover, most companies supply products that cannot be used interchangeably with another vendor's products. That is an issue for many end users, as they are reliant exclusively on one supplier's product and it costs them a large amount of money to change suppliers due to the high cost of switching. End-users are losing the freedom to choose and are not able to integrate such sensors with building automation systems, thus posing a challenge to the global market. Such factors are expected to pose a challenge to the growth of the global market during the forecast period.
The market share growth by the NDIR segment will be significant during the forecast period. NDIR was the largest segment of the market in 2022 and is expected to continue to be the largest segment of the market in focus in 2027. A moderate growth rate is apparent in the segment of NDIR advanced carbon dioxide sensors. Such products are commonly used for advanced carbon dioxide sensing.
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The NDIR segment showed a gradual increase in the market share of USD 592.70 million in 2018. The high market share of NDIR sensors, such as more durability and stability than chemical carbon dioxide sensors. All gases composed of two or more dissimilar atoms are absorbed in a specific way by infrared radiation. Thus, carbon dioxide gas can be measured through IR techniques. Due to the long lifespan, stability, and high humidity and dirt-withstanding nature of NDIR sensors, they are preferred over chemical variants.
Based on the fitting, the market has been segmented into wall-mount and retrofit. The wall-mount segment will account for the largest share of this segment. The wall-mount advanced carbon dioxide sensors are used in specific areas such as conference rooms, classrooms, and meeting halls. Wall-mountable carbon dioxide sensors are dominant as they are easy to set up and do not rely on any other systems due to their adoption of them in homes, offices, or schools where a simple installation is possible. the availability of such personal wall-mounted variants is expected to drive the growth of the wall-mount segment of the global market during the forecast period.
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North America is estimated to contribute 28% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period.
The market in North America is experiencing steady growth, driven by the increasing adoption in smart buildings and the industrial sector. In the Cloud era, these sensors are integrated with cloud connectors for real-time monitoring and analysis of CO2 emissions and indoor pollutants. Semiconductor businesses are developing innovative business models to cater to the demand for automation in detecting dangerous gas emissions. The real estate industry is leveraging CO2-based DCV systems for energy savings and air purification, particularly in unpredictably occupied buildings such as offices, schools, and entertainment venues. Cutting-edge technologies like infrared energy level detection, light scattering, and thermal drift compensation are essential to mitigate cross-sensitivity issues. The market is influenced by factors such as the shift towards renewable energy and the reduction of CO2 emissions from coal and fossil fuels. Industrial automation and the need for efficient industrial processes further boost the demand for advanced carbon dioxide sensors.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Amphenol Corp. - The company offers advanced carbon dioxide sensors such as Telaire T6700 Series, and Telaire T6743.
Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market is expanding, driven by the need to monitor CO2 emission levels in various sectors, including the healthcare sector, automotive sector, and petrochemical sector. These sensors help track CO2 gas concentrations and air pollution levels in factories, public places, and building interiors. With innovations like wireless CO2 sensors and 3D printed sensors, there’s improved connectivity and miniaturization for better integration into smart constructions and building management systems. The market addresses environmental changes, indoor ventilation levels, and CO2 level monitoring, ensuring ventilation quality and enabling corrective action to combat hazardous air in areas like theatres, nightclubs, and restaurants.
Furthermore, the market is crucial for monitoring CO2 emissions and improving energy efficiency in various sectors. With rising carbon emissions and volatile organic compounds from paints and new furnishings, these sensors are essential for air pollution measuring and air purification. Wireless sensors and IoT applications enhance connectivity and data transmission in smart buildings and green building concepts. Key industries, including chemical industries, the petrochemical segment, and the automotive segment, benefit from advanced nondispersive infrared sensors. Innovations like photoacoustic spectroscopy and low power consumption designs ensure long-term stability and precision, addressing indoor pollutants and dangerous gas emissions in indoor public places and the industrial sector.
Market Scope |
|
Report Coverage |
Details |
Page number |
175 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.17% |
Market growth 2024-2028 |
USD 328.6 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.56 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 28% |
Key countries |
US, China, Germany, UK, and United Arab Emirates |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aeroqual Ltd., Airtest Technologies Inc., AMETEK Inc., Amphenol Corp., Asahi Kasei Corp., Cubic Sensor and Instrument Co. Ltd., Digital Control Systems Inc., E E Elektronik Ges.m.b.H, Gas Sensing Solutions Ltd., Honeywell International Inc., Infineon Technologies AG, Johnson Controls, NEW COSMOS ELECTRIC Co. Ltd., RKI Instruments Inc., Schneider Electric SE, Sensirion AG, Siemens AG, Trane Technologies plc, Trolex Ltd., and Vaisala Oyj |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Fitting
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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