Global Advanced CO2 Sensors Market Size Forecasted to Hit USD 14.5 Billion by 2030, at 4.23% CAGR: Advancements in Environmental Monitoring

Jul 07, 2023

New York, NY, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Advanced CO2 Sensors Market By Product (Non-Dispersive Infrared (NDIR) CO2 Sensors And Chemical CO2 Sensors), By Connectivity (Wired CO2 Sensors And Wireless CO2 Sensors), By End-Use Industry (Healthcare, Petrochemical, Building Automation, Automotive, Consumer Electronics, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Advanced CO2 Sensors Market size & share in terms of revenue was valued at USD 10.1 billion in 2022 and it is expected to surpass around USD 14.5 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 4.23% during the forecast period 2023 to 2030.”

What are Advanced CO2 Sensors? How big is the Advanced CO2 Sensors Industry?

Report Overview:

The global advanced CO2 sensors market size was evaluated at $10.1 billion in 2022 and is slated to hit $14.5 billion by the end of 2030 with a CAGR of nearly 4.23% between 2023 and 2030.

Advanced CO2 Sensors are able to adjust to changes in altitude, temperature, and humidity. These sensors help monitor the concentration of carbon dioxide in various media such as air and water and can detect the intensity of carbon dioxide in different mediums. The demand for innovative CO2 sensors has increased as a result of an increase in the emission of dangerous gases from a large number of enterprises as well as an increase in the levels of air pollution that has occurred as a result of expanding industrialization. The automation of buildings in both the residential and commercial sectors has led to an increase in the amount of carbon emissions in the atmosphere, which has led to an increase in product penetration in construction and real estate operations. The product not only assesses the energy efficiency of buildings in the residential and commercial sectors, but it also offers information about the air quality that is present inside of structures.

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Global Advanced CO2 Sensors Market: Growth Factors

Massive consumer interest in goods that can measure and monitor levels of carbon dioxide in water and gases is driving global market developments.

The development of new applications for improved CO2 sensors in the management of carbon emissions in the atmosphere will be the primary driver of growth in the global market for advanced CO2 sensors. In addition to this, sophisticated CO2 sensors are utilised for the purposes of detecting and tracking the quantity of carbon dioxide in water as well as other gases that are present in the bodies of water. This, in turn, will provide favourable conditions for the expansion of the market on a global scale. Innovative CO2 sensors allow for the regulation of a wide variety of volatile organic compounds (VOCs), which can be emitted from paints and new furnishings that are used in construction activities. This allows for the expansion of the worldwide market to be directed.

The successful growth of the healthcare, automotive, and petrochemical industries has resulted in a rise in carbon emissions, which has led to an increase in demand for cutting-edge CO2 sensors in those particular industries. The introduction of brand-new products will have a significant impact on the size of the worldwide market. For example, Fellowes has introduced ArrayTM, a cutting-edge network air quality solution that will increase indoor air quality and, as a result, enrich the market for air purification. This strategic approach will also push market players to launch sophisticated CO2 sensors, and as a result, it will drive the trends of the global market.

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Report Scope

Advanced CO2 Sensors Market: Segmentation Analysis

The global market for sophisticated CO2 sensors may be broken down into four categories: product, connectivity, end-use industry, and region.

Non-dispersive infrared (NDIR) CO2 sensors and chemical CO2 sensors are the two product categories that make up the different sectors of the global market for advanced CO2 sensors. In addition to this, it is anticipated that the non-dispersive infrared (NDIR) CO2 sensors market segment, which had about three-quarters of the global market share in 2022, will achieve the highest CAGR during the period of time covered by the research. The enormous need for products in a variety of end-use sectors, including agri-food, pharmaceuticals, refrigeration and brewing, and beverages, can be credited to the rise of the segment in the years to come. This demand will play a significant role in the expansion of the segment. In addition to this, the product's advantageous characteristics, which include an extended lifespan, automated operations, accurate temperature measurement, reduced maintenance costs, and enhanced performance, have further contributed to an increase in demand for the product.

There are two primary categories of sophisticated CO2 sensors on the market today: wired CO2 sensors and wireless CO2 sensors. These categories are differentiated from one another on the basis of the type of connectivity they provide. In addition, the market for wireless CO2 sensors, which held a sizeable share of the global industry in 2022, is predicted to take the lead in the application market within the next couple of years. The segmental spike in the time range covered by the projection can be explained by its accurate measurement, rapid response, and long-term viability. In addition to this, wireless CO2 sensors are able to precisely measure both the surrounding temperature and the relative humidity.

The global market for advanced CO2 sensors is segmented into the healthcare sector, the petrochemical industry, the building automation industry, the automobile industry, the consumer electronics industry, and other categories based on the end-use industry. In addition, the building automation segment, which held a significant proportion of the global market in 2022, is projected to establish itself as the most important part of the end-use industry segment in the years to come. The increase in the number of construction projects carried out over the world is likely to be a primary factor in the market segment's expansion in the years to come.

The global Advanced CO2 Sensors market is segmented as follows:

By Product

By Connectivity

By End-Use Industry

Browse the full “Advanced CO2 Sensors Market By Product (Non-Dispersive Infrared (NDIR) CO2 Sensors And Chemical CO2 Sensors), By Connectivity (Wired CO2 Sensors And Wireless CO2 Sensors), By End-Use Industry (Healthcare, Petrochemical, Building Automation, Automotive, Consumer Electronics, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report At https://www.zionmarketresearch.com/report/advanced-co2-sensors-market

Competitive Landscape

Some of the main competitors dominating the global Advanced CO2 Sensors market include -

Key Insights from Primary Research :

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Regional Analysis :

Europe to account for a major share of the global market over the anticipated timeline

Europe, which accounted for more than 66% of the global advanced CO2 sensors market share in 2022, is anticipated to record notable growth over the analysis timeframe. The market expansion in the region over the projected timeframe can be subject to massive product penetration in HVAC applications for measuring air quality. Apart from this, they are immensely utilized in monitoring fermentation, photosynthesis, and carbon dioxide consuming methods in the food & beverages sector in the countries of Europe.

Furthermore, the advanced CO2 sensors industry in North America is projected to register the highest gains over the assessment timespan. The key growth driving factors of the industry in the region include an increase in the sale of the products in various end-use industries in countries such as Canada and the U.S.

By Region

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