SAN FRANCISCO, U.S., Feb. 20, 2023 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Advanced Carbon Dioxide (CO2) Sensors Market Size, Share, Growth Analysis Report By Product (Non-Dispersive Infrared (NDIR) CO2 Sensors, Chemical CO2 Sensor), By Connectivity (Wired CO2 Sensors, Wireless CO2 Sensors), By End Use Industry (Healthcare, Automotive, Petrochemical, Building Automation, Consumer Electronics, Others), and By Region - Global Industry Insights, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Advanced Carbon Dioxide (CO2) Sensors Market size & share was valued at approximately USD 9.2 billion in 2021. The market is expected to grow above a CAGR of 4.01% and is anticipated to reach over USD 12.04 billion by 2028.”
The report analyses the Advanced Carbon Dioxide (CO2) Sensors market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Advanced Carbon Dioxide (CO2) Sensors market.
Advanced Carbon Dioxide (CO2) Sensors Market Overview:
The global market is being driven primarily by a greater emphasis on sustainable development. In line with this, rapid industrialization and rising CO2 emissions around the world have resulted in a significant increase in demand for advanced CO2 sensors. Aside from that, the increased wastewater discharge by various industries has boosted the adoption of these sensors to effectively measure and track CO2 levels and other gases present in water bodies.
Furthermore, ongoing technological advancements, such as the introduction of 3D printed sensors, have fuelled the market growth.
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Key Insights from Primary Research
- As per the analysis, the Advanced Carbon Dioxide (CO2) Sensors market is likely to grow above a CAGR of around 4.01% between 2022 and 2028.
- The Advanced Carbon Dioxide (CO2) Sensors market size was worth around US$ 9.2 billion in 2021 and is estimated to hit approximately US$ 12.04 billion by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Based on the Product, it is anticipated that the NDIR CO2 sensor will hold the most market share over the projected period.
- Based on the end-use industry, Building automation is predicted to boost market growth due to an increase in automation, which has resulted in an increase in infrastructure.
- On the basis of region, the North America will account for the majority of market growth.
Competitive Players
Some of the main players in the global Advanced Carbon Dioxide (CO2) Sensors market include;
- Amphenol Corporation
- Asahi Kasei Corporation
- Balluff GmbH
- Gas Sensing Solutions Ltd.
- Honeywell International Inc.
- Johnson Controls International
- Sick AG
- Siemens Aktiengesellschaft
- Vaisala Oyj
- Veris Industries LLC (Schneider Electric)
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Market Dynamics:
One of the most important factors expected to drive the adoption rate of advanced CO2 sensors during the forecast period is the growing concern of various industrial sectors about maintaining control over their CO2 emissions. The rising demand for advanced CO2 sensors, which are used underwater to measure and track the CO2 level and other gases present in the water body, is a major driver boosting the growth of the advanced carbon dioxide sensors market. Furthermore, because building automation is the primary end-user segment for advanced CO2 sensors, the increased construction of high-rise projects is expected to increase demand for advanced CO2 sensors, thereby fuelling the market growth.
One of the major factors expected to drive global demand for technologically advanced CO2 is the increased emission of hazardous gases from various industrial sectors. As a result, CO2 sensors are heavily used in air pollution measuring systems in order to effectively and efficiently measure and monitor the presence of CO2 in the atmosphere.
COVID-19 Impact Analysis
During and after the COVID-19 era, there has been a positive impact on market growth. The expansion of the global construction market is significantly driving the growth of the advanced carbon dioxide (CO2) sensors market; though factors such as the complexity of advanced CO2 sensor operations may impede the market growth. To learn more about the key market drivers and the impact of the COVID-19 pandemic on the advanced carbon dioxide (CO2) sensors industry.
Various businesses are emphasizing organic growth strategies such as product launches, product approvals, and other items such as patents and events. Inorganic growth strategies observed in the market included acquisitions, partnerships, and collaborations. These activities have enabled market participants to grow their business and customer base. With rising demand in the global market, market players in the advanced carbon dioxide sensors market are expected to benefit from lucrative growth opportunities in the future.
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Advanced Carbon Dioxide (CO2) Sensors Market: Segmentation Analysis
With its stability, extended life duration, high humidity, and dirt resistance, the NDIR CO2 sensor is predicted to account for the biggest market share during the projection period. NDIR CO2 sensors, on the other hand, have the disadvantage of being large and expensive. Some of the NDIR CO2 sensors' measurement errors include changes in the system's infrared energy level, light scattering from particulars, and thermal drift. Despite this, the product's economic potential stems from the fact that it is easy to use and has a simple construction.
Building automation is predicted to boost market expansion due to an increase in automation, which has resulted in an increase in infrastructure, according to the end-use industry. Various indoor pollutants comprising volatile organic compounds, such as paints, chemical uses, and others, have evolved as a result of the real estate industry's growth. Despite the fact that CO2 is not a pollutant, it has an effect on humans, making them drowsy and sleepy. Advanced co2 sensors, which aid in air purification and optimum ventilation, are employed to address the aforementioned concern. Furthermore, the industrial sector's usage of improved CO2 sensors to manage pollution and detect CO2 emissions will help to increase the market's reach.
Regional Dominance:
During the forecast period, North America will account for the majority of market growth. The United States is one of the most important markets in North America for advanced carbon dioxide (CO2) sensors. The increasing applications of advanced CO2 sensors will aid the growth of the advanced carbon dioxide (CO2) sensors market in North America during the forecast period.
Continuous growth in the global construction market is expected to drive the growth of the global advanced carbon dioxide sensors market. Furthermore, the market is expected to grow due to an increase in demand for advanced Co2 sensors, which are used underwater to measure and track carbon dioxide levels and other gases present in water bodies.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Advanced Carbon Dioxide (CO2) Sensors industry?
- What are the main driving factors propelling the Advanced Carbon Dioxide (CO2) Sensors Market forward?
- What are the leading companies in the Advanced Carbon Dioxide (CO2) Sensors Industry?
- What segments does the Advanced Carbon Dioxide (CO2) Sensors Market cover?
- How can I receive a free copy of the Advanced Carbon Dioxide (CO2) Sensors Market sample report and company profiles?
Report Scope:
| Report Attribute | Details |
| Market Size in 2021 | USD 9.2 Billion |
| Projected Market Size in 2028 | USD 12.04 Billion |
| CAGR Growth Rate | 4.01% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | Amphenol Corporation, Asahi Kasei Corporation, Balluff GmbH, Gas Sensing Solutions Ltd., Honeywell International Inc., Johnson Controls International, Sick AG, Siemens Aktiengesellschaft, Vaisala Oyj, Veris Industries LLC (Schneider Electric), and Others |
| Key Segment | By Product, Connectivity, End Use Industry, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
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The global Advanced Carbon Dioxide (CO2) Sensors market is segmented as follows:
By Product
- Non-Dispersive Infrared (NDIR) CO2 Sensors
- Chemical CO2 Sensors
By Connectivity
- Wired CO2 Sensors
- Wireless CO2 Sensors
By End Use Industry
- Healthcare
- Automotive
- Petrochemical
- Building Automation
- Consumer Electronics
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Product, Connectivity, End Use Industry, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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