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The advanced carbon dioxide sensors market size is estimated to increase by USD 283.27 million between 2022 and 2027. The market size is forecast to grow at a CAGR of 6.64%. The growth of the market depends on several factors, including the proliferation of advanced submersible carbon dioxide sensors in emerging markets, the growth of the global construction market, and the growth of the building automation systems market. Advanced carbon dioxide (CO2) sensors are devices used to monitor the intensity of carbon dioxide in different mediums, such as air or water. They have come with low error rates and have the capability to automatically adjust to their surrounding whenever there is a change in chemical and physical properties such as temperature, humidity, and altitude.
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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 564.47 million in 2017 and continued to grow by 2021. 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 elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in North America is expected to grow at a moderate growth rate during the forecast period. North America is contributing to the market in focus revenue primarily because of the increasing applications in this region.
The Market industry report includes the adoption lifecycle of the market, 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 growth 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.
Airtest Technologies Inc. - The company offers advanced carbon dioxide sensors such as CO2 Guard 10, and TR9277-EO.
AMETEK Inc. - The company offers advanced carbon dioxide sensors such as IRC-A1 sensor, and IRC-AT sensor through its subsidiary Alphasense.
Amphenol Corp. - The company offers advanced carbon dioxide sensors such as Telaire T6700 Series, and Telaire T6743 through its subsidiary Amphenol Advanced Sensors.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
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 is experiencing robust growth driven by the demand for cutting-edge environmental monitoring solutions. With a focus on sustainability and reducing carbon emissions, businesses across industries are integrating advanced CO2 sensing technologies into their operations. These products, including tunable diode laser absorption spectroscopy and non-dispersive infrared sensing, offer enhanced capabilities in accuracy and versatility, catering to diverse operating conditions. Regulatory frameworks and environmental standards further drive adoption, particularly in industrial facilities and commercial buildings. Real-time monitoring and control, facilitated by sensor networks and IoT platforms, enable proactive measures to address climate change concerns. As stakeholders emphasize environmental sustainability, the market continues to expand, offering transformative solutions for improved energy efficiency and reduced carbon footprints across various sectors.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Advanced Carbon Dioxide Sensors Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.64% |
Market growth 2023-2027 |
USD 283.27 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.3 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 28% |
Key countries |
US, United Arab Emirates, China, Germany, and UK |
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., Digital Control Systems Inc., E E Elektronik Ges.m.b.H, Gas Sensing Solutions Ltd., Honeywell International Inc., Infineon Technologies AG, Johnson Controls International Plc, NEW COSMOS ELECTRIC Co. Ltd., RKI Instruments Inc., Schneider Electric SE, Sensirion AG, Siemens AG, Trane Technologies plc, Trolex Ltd., Vaisala Oyj, and Cubic Sensor and Instrument Co. Ltd. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
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