New York, Sept. 11, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Advanced CO2 Sensor Market” published by Consegic Business Intelligence, the market was worth USD 8,837.12 Million in 2022 and is anticipated to reach over USD 12,281.66 Million by the year 2030, growing at a CAGR of 4.30%.
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Advanced CO2 sensor are sensors that are designed to provide higher accuracy, multi-gas detection capabilities, real time monitoring, and others. Advanced CO2 sensor are capable of transmitting data remotely, thus enabling remote monitoring and integration with other systems for automation and analysis. In addition, Advanced CO2 sensor has capabilities of detecting multiple gases simultaneously, thus providing a better understanding of air quality. Moreover, these sensors have improved accuracy and precision in measuring carbon dioxide concentrations required for applications demanding precise data.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 12,281.66 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 4.30% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | METTLER TOLEDO, Infineon Technologies AG, Munters, Amphenol Corporation, Digital Control System Inc., Gas Sensing Solutions, Honeywell International Inc., Siemens AG, Sensirion AG, ABB, Murata Manufacturing Co. Ltd., Winson, and Cubic Sensor and Instrument Co. Ltd. |
| By Type | Nondispersive Infrared (NDIR), Photoacoustic Spectroscopy, Electrochemical, and Metal Oxide Semiconductor (MOS) Sensors |
| By Application | HVAC Systems, Smart Home & Buildings, Safety & Fire detection, Industrial Processes, Quality Control, and Others |
| By End Use | Automotive, Healthcare, Agriculture, Consumer Electronics, Food & Beverages, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Advanced CO2 Sensor Market Growth Drivers:
- Increasing demand for monitoring indoor air quality and ventilation control is driving the demand for Advanced CO2 Sensor
- Growing global initiative to curb carbon emission is promoting the market growth of advanced CO2 sensor
Restraints
- Limitations associated with different types of CO2 sensors is hindering the market growth.
Opportunities
- Large scale integration of IoT based advanced CO2 sensors is projected to boost the demand for advanced CO2 sensor
Global Advanced CO2 Sensor Market Segmentation Details:
Based on Type, the nondispersive infrared (NDIR) type segment contributed the largest shares to the market growth in 2022. Factor attributed towards the growth of nondispersive infrared sensor include longer shelf life, non-interference in reading from other substances, better working conditions (around 1000ppm), and others. The type of sensor has also received gold standard recognition for carbon dioxide monitoring. The sensor is based on light absorption principle and can absorb wavelength of light up to 4 microns.
Based on Application, HVAC systems segment contributed the largest shares to the market growth in 2022. HVAC systems are designed to provide quality air and require air quality monitoring sensors installed within the devices. CO2 sensor thus measures the amount of CO2 level in the environment and allows the HVAC system to operate according to the environmental requirements. CO2 sensors moreover allow HVAC systems to provide fresh air and remove excess concentrations of CO2 defined within the permissible limits. The overall process thus reduces the energy consumption of HVAC systems by proper analysis of oxygen and carbon dioxide concentrations in the air.
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Based on End Use, consumer electronics segment accounted for the maximum revenue share in the year 2022. The factors attributed towards the growth of the segment include rising demand for quality air, increasing consumer awareness towards health, requirement for proper working conditions, and others. Moreover, as defined by European Standard EN 13779, the CO2 concentration within the room should be below 1000ppm which is raising the demand for consumer electronics such as HVAC systems, air conditioning, and others. Furthermore, owing to the growing health concerns related to pollution and rising levels of air pollutant particles is driving the market growth of consumer electronics segment in the overall advanced CO2 sensor market.
Based on region, North America region accounted for the largest revenue share in the year 2022. The adoption of Advanced CO2 Sensor in the Asia Pacific region is primarily driven by technological advancement in the region including technological advancement and constant research and development programs, and others. In addition, the region is mainly focused towards environmental and individual health related concerns. Also, the region has always focused on research and innovation coupled with growth in industrial and commercial applications has been driving the market growth for advanced CO2 sensor.
Key Market Highlights
- Globally, Advanced CO2 Sensor market is divided based on the type into nondispersive infrared (NDIR), photoacoustic spectroscopy, electrochemical, and metal oxide semiconductor (MOS) sensors.
- Based on application, Advanced CO2 Sensor market is segmented into HVAC systems, smart home & buildings, safety & fire detection, industrial processes, quality control, and others.
- In the context of end use, the market is separated into automotive, healthcare, agriculture, consumer electronics, food & beverages, and others.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
- Asia-Pacific are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on advancements in Advanced CO2 Sensor market.
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List of Major Global Advanced CO2 Sensor Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
- METTLER TOLEDO
- Infineon Technologies AG
- Munters
- Amphenol Corporation
- Digital Control System Inc.
- Gas Sensing Solutions
- Honeywell International Inc.
- Siemens AG
- Sensirion AG
- ABB
- Murata Manufacturing Co. Ltd.
- Winson
- Cubic Sensor and Instrument Co. Ltd.
Global Advanced CO2 Sensor Market Segmentation:
- By Type
- Nondispersive Infrared (NDIR)
- Photoacoustic Spectroscopy
- Electrochemical
- Metal Oxide Semiconductor (MOS) Sensors
- By Application
- HVAC Systems
- Smart Home & Buildings
- Safety & Fire detection
- Industrial Processes
- Quality Control
- Others
- By End Use
- Automotive
- Healthcare
- Agriculture
- Consumer Electronics
- Food & Beverages
- Others
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Key Questions Covered in the Advanced CO2 Sensor Market Report
- What is Advanced CO2 Sensor?
- Advanced CO2 Sensor are designed to provide higher accuracy, multi-gas detection capabilities, real time monitoring, and others. Advanced CO2 sensor are capable of transmitting data remotely, thus enabling remote monitoring and integration with other systems for automation and analysis.
- What is the dominating segment in the Advanced CO2 Sensor market by End Use?
- In 2022, consumer electronics segment accounted for the highest market share in the overall advanced CO2 sensor market.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the Advanced CO2 Sensor growth in the coming years?
- Asia Pacific accounted for the largest revenue share in the year 2022. The increasing demand for advanced CO2 sensor from multiple industries including consumer electronics, healthcare, industrial processes, among others is driving the growth of the regional market.
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