Portland, OR, Nov. 03, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global CO2 gas sensor market generated $271.2 million in 2021, and is estimated to reach $557.7 million by 2031, witnessing a CAGR of 7.6% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $271.2 Million |
| Market Size in 2031 | $557.7 Million |
| CAGR | 7.6% |
| No. of Pages in Report | 212 |
| Segments Covered | Technology, End User, and Region |
| Drivers | Increase in need for air quality monitoring in smart cities. |
| Rapid growth in government standards and regulations concerning emission control. | |
| Opportunities | Growing penetration of internet of things (IoT), artificial intelligence, and machine learning in industries. |
| Restraints | High initial cost of the devices. |
Covid-19 Scenario:
- The CO2 gas sensor market was severely impacted by the outbreak of the COVID-19 pandemic. With governments of several nations imposing and extending lockdowns, production and manufacturing facilities were shut down, owing to crisis and unavailability of workforce.
- Key players operating in the market temporarily witnessed a slowdown, owing to the lack of availability of skilled professionals to develop the CO2 gas sensor market solutions, leading to a decline in revenues from 2020 to 2021.
- However, the global market is recovering with the pandemic situation improving and is expected to remain in the growth stage during the forecast period.
The report offers a detailed segmentation of the global CO2 gas sensor market based on technology, end user, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on technology, the electrochemical gas sensor segment held the largest share in 2021, accounting for nearly one-third of the global CO2 gas sensor market, and would rule the roost through 2031. However, the infrared gas sensor segment is estimated to witness the fastest CAGR of 9.64% during the forecast period. The report also analyzes the segments such as photo ionization sensor, thermal conductivity gas sensor, metal oxide based gas sensor, catalytic gas sensor, and others.
Based on the end user, the industrial segment held the largest share in 2021, capturing more than three-fifths of the global CO2 gas sensor market, and would rule the roost through 2031. However, the healthcare segment is estimated to witness the fastest CAGR of 8.82% during the forecast period. The report also discusses the consumer electronics and others segments.
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Based on region, the market in Asia-Pacific was the largest in 2021, accounting for around half of the global CO2 gas sensor market, and is likely to maintain its leadership status during the forecast period. Moreover, the market in the same region is expected to manifest the highest CAGR of 8.34% from 2022 to 2031. The other regions analyzed in the study include North America, Europe, and LAMEA.
Leading players of the global CO2 gas sensor market analyzed in the research include Amphenol Corporation, Siemens AG, Honeywell International Inc., Sensirion AG, Murata Manufacturing Co. Ltd., Vaisala Oyj, ELT SENSOR Corp., Cubic Sensor and Instrument Co., Ltd., ABB Ltd., and Asahi Kasei Microdevices Corp. (Senseair).
The report analyzes these key players of the global CO2 gas sensor market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the CO2 Gas Sensor market analysis from 2021 to 2031 to identify the prevailing CO2 Gas Sensor market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the CO2 Gas Sensor market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global CO2 Gas Sensor market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
Technology
- Infrared Gas Sensor
- Photo Ionization Sensor
- Electrochemical Gas Sensor
- Thermal Conductivity Gas Sensor
- Metal Oxide based Gas Sensor
- Catalytic Gas Sensor
- Others
End User
- Consumer Electronics
- Industrial
- Type
- Automotive
- Aerospace and Defense
- Others
- Type
- Others
- Heathcare
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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