Carbon Monoxide Gas Sensors Market by Application and Geography - Forecast and Analysis 2022-2026

Published: Aug 2022

Pages: 130

SKU: IRTNTR74158

Snapshot

The carbon monoxide gas sensors market share is expected to increase by USD 100.13 million from 2021 to 2026, at a CAGR of 6.8%.

This carbon monoxide gas sensors market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers carbon monoxide gas sensors market segmentation by application (medical, petrochemical, industrial, and others) and geography (APAC, Europe, North America, Middle East and Africa, and South America). The carbon monoxide gas sensors market report also offers information on several market vendors, including ABB Ltd, Aeroqual Ltd., Alphabet Inc., Calibration Technologies Inc., Dynament Ltd., GfG Ltd., Honeywell International Inc., MIPEX TECHNOLOGY, Nemoto and Co. Ltd., NEW COSMOS ELECTRIC Co. Ltd., Nissha Co. Ltd., Rakennuskemia Oy, Renesas Electronics Corp., Robert Bosch GmbH, Sensirion AG, Siemens AG, SPEC Sensors LLC, Trolex Ltd., X-Sense Innovations Co. Ltd., and Yokogawa Electric Corp. among others.

What will the Carbon Monoxide Gas Sensors Market Size be During the Forecast Period?

Download Report Sample to Unlock the Carbon Monoxide Gas Sensors Market Size for the Forecast Period and Other Important Statistics

Carbon Monoxide Gas Sensors Market: Key Drivers, Trends, and Challenges

The rising industrial safety measures is notably driving the carbon monoxide gas sensors market growth, although factors such as lack of skilled human resources may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the carbon monoxide gas sensors industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Carbon Monoxide Gas Sensors Market Driver

The rising industrial safety measures is one of the key drivers supporting the carbon monoxide gas sensors market growth. Industrial safety refers to safety management practices that apply to the industrial sector. It is monitored by federal, state, and local laws and regulations. Meanwhile, the increasing number of fatalities due to CO gas poisoning increases the adoption of safety measures in different industries, such as the adoption of CO gas sensors. For instance, in the US industrial sectors, employers must comply with all applicable OSHA standards. They must also comply with the General Duty Clause of the OSH Act, which requires employers to keep their workplaces free of serious recognized hazards. The OSHA Personal Exposure Limit (PEL) for CO is 50 ppm. OSHA standards prohibit a worker from being exposed to more than 50 parts of CO gas per million parts of air averaged during an 8-hour time period. Thus, detecting excessive levels of CO in these industries will spur the demand for CO gas sensors during the forecast period.

Key Carbon Monoxide Gas Sensors Market Trend

The development of portable CO gas sensors is one of the key carbon monoxide gas sensors market trends contributing to the market growth. The increasing demand for product miniaturization led to the development of portable CO gas sensors. Portable gas detectors are designed to protect personnel from atmospheric gas hazards and to be tested from location to location before entry. They offer multiple configuration modes that can be adapted to different business applications. These handheld devices are essential in many areas where gas hazards exist because they are continuously monitored at close range to the operator while stationary and moving. Moreover, vendors in the global CO gas sensor market are continuously developing portable gas sensors. For instance, in January 2021, ENVEA launched its new portable multi-gas analyzer named MIR 9000P. Thus, the launch of such portable CO gas sensors will boost the growth of the market during the forecast period.

Key Carbon Monoxide Gas Sensors Market Challenge

The lack of skilled human resources is one of the factors hampering the carbon monoxide gas sensors market growth. Many sizes and types of CO gas sensors with different contact configurations can be used in different industries. Such types of CO gas sensors are often used in manufacturing or production sites. The individuals using this equipment need to understand the operation and installation process efficiently. However, there is a lack of skilled human resources as in many instances, end-users are not satisfied with using these gas sensors if they were not properly installed, serviced, or calibrated properly. Furthermore, due to the COVID-19 outbreak, the market faced a shortage of skilled workers, which led to complex supply chain challenges. This has deterred potential buyers from investing in CO gas sensors. Thus, the lack of skilled human resources will hinder the growth of the market in the coming years.

This carbon monoxide gas sensors market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global carbon monoxide gas sensors market as a part of the global electronic equipment and instruments market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the carbon monoxide gas sensors market during the forecast period.

Who are the Major Carbon Monoxide Gas Sensors Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

This statistical study of the carbon monoxide gas sensors market encompasses successful business strategies deployed by the key vendors. The carbon monoxide gas sensors market is fragmented and the vendors are deploying growth strategies such as price, brand image, quality, service, and technical expertise to compete in the market.

Product Insights and News

abb.com - Under the electrification segment, the company manufactures and sells electrical products and solutions which are designed to provide safe, smart, and sustainable electrical flow from the substation to the socket.
abb.com - The company offers a carbon monoxide gas sensor namely Endura AZ40 with a combustion analyzer.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The carbon monoxide gas sensors market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Carbon Monoxide Gas Sensors Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the carbon monoxide gas sensors market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Carbon Monoxide Gas Sensors Market?

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39% of the market’s growth will originate from APAC during the forecast period. China, South Korea, and Japan are the key markets for the carbon monoxide gas sensors market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing use of fuel-burning appliances such as heating systems and water heaters, and consumer products such as grills will facilitate the carbon monoxide gas sensors market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 slowed down the growth of the CO gas sensors market in APAC. However, the market started to recover in the first half of 2021 due to the initiation of large-scale vaccination drives and the restoration of supply chain operations. Furthermore, the recovery of the automobile industry, resumption of oil and gas operations, increasing use of grills in households, and redesigning distribution channels will help the market grow and recover during the forecast period.

What are the Revenue-generating Application Segments in the Carbon Monoxide Gas Sensors Market?

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The carbon monoxide gas sensors market share growth by the medical segment will be significant during the forecast period. The increasing use of CO in the medical field will drive the demand for CO gas sensors during the forecast period. Significantly, CO has been actively used as an effective anti-inflammatory agent in preclinical animal models of inflammation, acute lung injury, sepsis, ischemia/reperfusion injury, and organ transplantation. The gas is also used in hospital smoking cessation treatment, which will drive the segment growth in the coming years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the carbon monoxide gas sensors market size and actionable market insights on post COVID-19 impact on each segment.

Carbon Monoxide Gas Sensors Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Decelerate at a CAGR of 6.8%
Market growth 2022-2026	$ 100.13 million
Market structure	Fragmented
YoY growth (%)	7.79
Regional analysis	APAC, Europe, North America, Middle East and Africa, and South America
Performing market contribution	APAC at 39%
Key consumer countries	US, China, South Korea, Japan, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	ABB Ltd, Aeroqual Ltd., Alphabet Inc., Calibration Technologies Inc., Dynament Ltd., GfG Ltd., Honeywell International Inc., MIPEX TECHNOLOGY, Nemoto and Co. Ltd., NEW COSMOS ELECTRIC Co. Ltd., Nissha Co. Ltd., Rakennuskemia Oy, Renesas Electronics Corp., Robert Bosch GmbH, Sensirion AG, Siemens AG, SPEC Sensors LLC, Trolex Ltd., X-Sense Innovations Co. Ltd., and Yokogawa Electric Corp.
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, and 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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What are the Key Data Covered in this Carbon Monoxide Gas Sensors Market Report?

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will drive carbon monoxide gas sensors market growth during the next five years
Precise estimation of the carbon monoxide gas sensors market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the carbon monoxide gas sensors industry across APAC, Europe, North America, Middle East and Africa, and South America
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of carbon monoxide gas sensors market vendors

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

5.1 Market segments
- Exhibit 24: Chart on Application - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Application - Market share 2021-2026 (%)

5.2 Comparison by Application
- Exhibit 26: Chart on Comparison by Application
- Exhibit 27: Data Table on Comparison by Application

5.3 Medical - Market size and forecast 2021-2026
- Exhibit 28: Chart on Medical - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Medical - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Medical - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Medical - Year-over-year growth 2021-2026 (%)

5.4 Petrochemical - Market size and forecast 2021-2026
- Exhibit 32: Chart on Petrochemical - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Petrochemical - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Petrochemical - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Petrochemical - Year-over-year growth 2021-2026 (%)

5.5 Industrial - Market size and forecast 2021-2026
- Exhibit 36: Chart on Industrial - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Industrial - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Industrial - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Industrial - Year-over-year growth 2021-2026 (%)

5.6 Others - Market size and forecast 2021-2026
- Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)

5.7 Market opportunity by Application
- Exhibit 44: Market opportunity by Application ($ million)

6 Customer Landscape

6.1 Customer landscape overview
- Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation
- Exhibit 46: Chart on Market share by geography 2021-2026 (%)
- Exhibit 47: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison
- Exhibit 48: Chart on Geographic comparison
- Exhibit 49: Data Table on Geographic comparison

7.3 APAC - Market size and forecast 2021-2026
- Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.4 Europe - Market size and forecast 2021-2026
- Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.5 North America - Market size and forecast 2021-2026
- Exhibit 58: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.6 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.7 South America - Market size and forecast 2021-2026
- Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026
- Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 China - Market size and forecast 2021-2026
- Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)

7.10 South Korea - Market size and forecast 2021-2026
- Exhibit 78: Chart on South Korea - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on South Korea - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on South Korea - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on South Korea - Year-over-year growth 2021-2026 (%)

7.11 Japan - Market size and forecast 2021-2026
- Exhibit 82: Chart on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Japan - Year-over-year growth 2021-2026 (%)

7.12 Germany - Market size and forecast 2021-2026
- Exhibit 86: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography
- Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges
- Exhibit 91: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape
- Exhibit 92: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption
- Exhibit 93: Overview on factors of disruption

9.4 Industry risks
- Exhibit 94: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered
- Exhibit 95: Vendors covered

10.2 Market positioning of vendors
- Exhibit 96: Matrix on vendor position and classification

10.3 ABB Ltd
- Exhibit 97: ABB Ltd - Overview
- Exhibit 98: ABB Ltd - Business segments
- Exhibit 99: ABB Ltd - Key news
- Exhibit 100: ABB Ltd - Key offerings
- Exhibit 101: ABB Ltd - Segment focus

10.4 Aeroqual Ltd.
- Exhibit 102: Aeroqual Ltd. - Overview
- Exhibit 103: Aeroqual Ltd. - Product / Service
- Exhibit 104: Aeroqual Ltd. - Key offerings

10.5 Alphabet Inc.
- Exhibit 105: Alphabet Inc. - Overview
- Exhibit 106: Alphabet Inc. - Business segments
- Exhibit 107: Alphabet Inc. - Key news
- Exhibit 108: Alphabet Inc. - Key offerings
- Exhibit 109: Alphabet Inc. - Segment focus

10.6 Calibration Technologies Inc.
- Exhibit 110: Calibration Technologies Inc. - Overview
- Exhibit 111: Calibration Technologies Inc. - Product / Service
- Exhibit 112: Calibration Technologies Inc. - Key offerings

10.7 NEW COSMOS ELECTRIC Co. Ltd.
- Exhibit 113: NEW COSMOS ELECTRIC Co. Ltd. - Overview
- Exhibit 114: NEW COSMOS ELECTRIC Co. Ltd. - Product / Service
- Exhibit 115: NEW COSMOS ELECTRIC Co. Ltd. - Key offerings

10.8 Robert Bosch GmbH
- Exhibit 116: Robert Bosch GmbH - Overview
- Exhibit 117: Robert Bosch GmbH - Business segments
- Exhibit 118: Robert Bosch GmbH - Key news
- Exhibit 119: Robert Bosch GmbH - Key offerings
- Exhibit 120: Robert Bosch GmbH - Segment focus

10.9 Siemens AG
- Exhibit 121: Siemens AG - Overview
- Exhibit 122: Siemens AG - Business segments
- Exhibit 123: Siemens AG - Key news
- Exhibit 124: Siemens AG - Key offerings
- Exhibit 125: Siemens AG - Segment focus

10.10 Trolex Ltd.
- Exhibit 126: Trolex Ltd. - Overview
- Exhibit 127: Trolex Ltd. - Product / Service
- Exhibit 128: Trolex Ltd. - Key offerings

10.11 X-Sense Innovations Co. Ltd.
- Exhibit 129: X-Sense Innovations Co. Ltd. - Overview
- Exhibit 130: X-Sense Innovations Co. Ltd. - Product / Service
- Exhibit 131: X-Sense Innovations Co. Ltd. - Key offerings

10.12 Yokogawa Electric Corp.
- Exhibit 132: Yokogawa Electric Corp. - Overview
- Exhibit 133: Yokogawa Electric Corp. - Business segments
- Exhibit 134: Yokogawa Electric Corp. - Key offerings
- Exhibit 135: Yokogawa Electric Corp. - Segment focus

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist
- Exhibit 136: Inclusions checklist
- Exhibit 137: Exclusions checklist

11.3 Currency conversion rates for US$
- Exhibit 138: Currency conversion rates for US$

11.4 Research methodology
- Exhibit 139: Research methodology
- Exhibit 140: Validation techniques employed for market sizing
- Exhibit 141: Information sources

11.5 List of abbreviations
- Exhibit 142: List of abbreviations

of skilled human resource: Test and measurement equipment such as tunable diode laser analyzer (TDLA), optical time-domain reflectometer (OTDR), and process analyzers are required to be used by an expert in chemical and instrumentation engineering. Many of these equipment are used in manufacturing or production process. The individuals using this equipment need to have an overall understanding of the process to operate the equipment efficiently. One of the major challenges to the market is the lack of skilled human resource in the market. In many instances, end-users are not really satisfied with the use of these test and measurement equipment if they were not properly installed, serviced or calibrated properly. This also deters potential buyers to invest in these test and measurement equipment.

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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