NEW
YORK, July 2, 2024 /PRNewswire/ -- The global
advanced carbon dioxide sensors market size is estimated to grow by
USD 328.6 million from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of over 7.17% during the forecast period. Proliferation of advanced
submersible carbon dioxide sensors in emerging market is driving
market growth, with a trend towards increase in institutional use
of advanced carbon dioxide sensors. However, complex operations of
advanced carbon dioxide sensors poses a challenge. Key market
players include Aeroqual Ltd., Airtest Technologies Inc., AMETEK
Inc., Amphenol Corp., Asahi Kasei Corp., Cubic Sensor and
Instrument Co. Ltd., Digital Control Systems Inc., E E Elektronik
Ges.m.b.H, Gas Sensing Solutions Ltd., Honeywell International
Inc., Infineon Technologies AG, Johnson Controls, NEW COSMOS
ELECTRIC Co. Ltd., RKI Instruments Inc., Schneider Electric SE,
Sensirion AG, Siemens AG, Trane Technologies plc, Trolex Ltd., and
Vaisala Oyj.
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segments, customer landscape, and companies- View the
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Advanced Carbon
Dioxide Sensors Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
7.17%
|
Market growth
2024-2028
|
USD 328.6
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
6.56
|
Regional
analysis
|
North America, Europe,
APAC, Middle East and Africa, and South America
|
Performing market
contribution
|
North America at
28%
|
Key
countries
|
US, China, Germany, UK,
and United Arab Emirates
|
Key companies
profiled
|
Aeroqual Ltd., Airtest
Technologies Inc., AMETEK Inc., Amphenol Corp., Asahi Kasei Corp.,
Cubic Sensor and Instrument Co. Ltd., Digital Control Systems Inc.,
E E Elektronik Ges.m.b.H, Gas Sensing Solutions Ltd., Honeywell
International Inc., Infineon Technologies AG, Johnson Controls, NEW
COSMOS ELECTRIC Co. Ltd., RKI Instruments Inc., Schneider Electric
SE, Sensirion AG, Siemens AG, Trane Technologies plc, Trolex Ltd.,
and Vaisala Oyj
|
Market Driver
Advanced carbon dioxide sensors offer significant benefits for
various sectors, including schools, research laboratories, and
government facilities. These sensors improve indoor air quality,
save energy, and monitor toxic carbon dioxide levels. In
educational institutions, they maintain appropriate ventilation,
reducing absenteeism and enhancing student performance. For
buildings, they ensure optimum performance and lower energy costs,
reducing greenhouse gas emissions. The integration of advanced
carbon dioxide sensors into smart homes is also increasing, driven
by the need to monitor indoor carbon dioxide levels. These factors
are expected to fuel the growth of the global advanced carbon
dioxide sensors market.
The Advanced Carbon Dioxide Sensors market is experiencing
significant growth due to increasing demand for CO2 monitoring in
various industries. Companies are focusing on developing advanced
technologies such as FOSS (Fuel Cell Sensor System) and CARbon
MONitoring SYstem (CAMS) to enhance sensor efficiency and accuracy.
These sensors are used in temperature control systems, industrial
processes, and environmental monitoring. The use of these sensors
in the automotive industry is also on the rise, as regulations for
reducing emissions become stricter. Additionally, the integration
of AI and machine learning algorithms in carbon dioxide sensors is
a trend that is gaining popularity, as it enables real-time
analysis and predictive maintenance. Overall, the market for
advanced carbon dioxide sensors is expected to continue growing due
to the increasing need for CO2 monitoring and the development of
more efficient and accurate sensor technologies.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The advanced carbon dioxide sensors market faces challenges due
to their complex functionality. End-users struggle to understand
operations, leading to inability to assess performance. High
service charges and lack of trust in service professionals hinder
adoption. Reasons include compatibility with HVAC systems, critical
sensor placement, measurement errors, and altitude-based issues.
Periodic maintenance is necessary for acceptable air quality.
Uncertainty around relying on sensors for critical decisions due to
altitude variations poses a significant challenge to market
growth.
- The Advanced Carbon Dioxide Sensors Market faces several
challenges. One major challenge is the need for high accuracy and
sensitivity in measuring low levels of CO2. Another challenge is
the requirement for long-term stability and durability in sensors,
especially in harsh environments. Additionally, cost-effectiveness
is a significant concern, as is the need for easy integration with
other systems. Furthermore, regulatory compliance and safety
standards add complexity to the market. Lastly, the increasing
demand for real-time monitoring and automation in various
industries drives the need for advanced sensor technologies.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This advanced carbon dioxide sensors market report extensively
covers market segmentation by
- Product
- Fitting
- 2.1 Wall-mount
- 2.2 Retrofit
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 NDIR- The NDIR advanced carbon dioxide sensors
segment is experiencing steady growth, driven by the construction
industry's expansion. These sensors, consisting of an IR lamp,
optical filter, and detector, offer benefits such as durability and
stability over chemical sensors. NDIR sensors' ability to measure
carbon dioxide through IR techniques and their long lifespan make
them preferred choices. Vendors like Amphenol Corp. Offer compact,
low-power sensors for specific applications, contributing to market
growth.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global Facilities Management Market is experiencing
significant growth due to the increasing demand for integrated
services across various sectors. The market's expansion is driven
by the need for efficient management of facilities and the adoption
of advanced technologies. Similarly, the global Industrial HVAC
Market is also on an upward trajectory, propelled by rising
industrialization and stringent environmental regulations.
Innovations in energy-efficient systems are further enhancing
market prospects. Both markets are benefiting from the trend
towards automation and the emphasis on sustainability, reflecting a
broader shift towards more efficient and eco-friendly industrial
practices.
Research Analysis
The Advanced Carbon Dioxide Sensors market is experiencing
significant growth due to the increasing awareness of air pollution
and the need for stringent regulations to combat hazardous gases
such as carbon dioxide, methane, nitrous oxide, and fluorinated
gases. Cash flow analysis and profit ratio analysis are crucial
factors in the market's attractiveness analysis. Advanced CO2
sensors play a vital role in monitoring and reducing greenhouse gas
emissions from various industries, including land use and
combustion processes. The sensors help in the holistic evaluation
of carbon emissions and contribute to the mitigation of rising sea
levels and higher temperatures caused by heat-trapping gases.
Modifications in existing systems and the integration of new
technologies are key factors driving market growth.
Market Research Overview
The Advanced Carbon Dioxide Sensors market is experiencing
significant growth due to the increasing demand for accurate and
real-time CO2 monitoring solutions. These sensors are essential in
various industries such as healthcare, food and beverage, and
industrial processes. The market is driven by factors like
stringent regulations, rising awareness of indoor air quality, and
technological advancements. The sensors use various technologies
like infrared, electrochemical, and capacitive sensors to measure
CO2 levels. The market is segmented based on application,
technology, and end-user. The electrochemical technology segment
holds a major share in the market due to its high accuracy and
sensitivity. The market is expected to grow at a CAGR of over 7%
during the forecast period.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Fitting
-
- Geography
-
- North America
- Europe
- APAC
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio