Advanced Carbon Dioxide Sensors Market Size, Share, Growth, and Industry Analysis by Type (Infrared Carbon Dioxide Sensor, Catalytic Carbon Dioxide Sensor, Heat Conduction Carbon Dioxide Sensor), by Application (Oil, Chemical, Metallurgical, Biological, Others), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

Advanced Carbon Dioxide Sensors Market Report Overview

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The global advanced carbon dioxide sensors market size was USD 897.1 million in 2022 and market is projected to touch USD 1531 million by 2031, CAGR of 6.1% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with advanced carbon dioxide sensors market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over. 

Advanced CO2 Sensors are mainly used in air pollution computing systems.  The mounting demand for advanced CO2 sensors which are used underwater to measure and track the CO2 level and other gases present in the water body. Carbon dioxide sensors are devices that can notice minute levels of carbon dioxide in the air. Advanced carbon dioxide sensors are significant because they help to safeguard that workers are not visible to high levels of CO2 which can be hazardous. Ecological specialists are supported by governments across the world to proceed with these initiatives for tracking carbon dioxide levels in water bodies with the help of submersible carbon dioxide sensors. The sensors have come with low fault rates and have the ability to spontaneously adjust to their surrounding whenever there is a change in chemical and physical properties such as temperature, humidity, and height. The rising demand for industrial automation is boosting the market forward. Advanced CO2 sensors are used to monitor and control the levels of pollutants in the air in industrial, residential, and commercial complexes. Rapid industrialization and rising CO2 emissions around the world have given rise to a significant increase in demand for advanced CO2 sensors. Increased wastewater discharge by various industries has enhanced the adoption of these sensors to efficiently measure and track CO2 levels and other gases present in water bodies. Constant growth in construction market across the world increase in demand for advanced Co2 sensors which is utilized underwater. The increasing focus on environment observing, strict government guidelines concerning indoor air quality, energy efficient, and increasing awareness of unsafe effects of CO2 level on human health is forcing the market development.

COVID-19 Impact:  Pandemic hampered the market due to unexpected disruption in supply chain

COVID-19 pandemic has tremendously affected the entire world. The pandemic has led to significant changes in consumer behaviour, with more individuals spending online and selecting health and safety. Due to outbreak of COVID- 19 travel restriction and social distancing measures have resulted in reduced demand for advanced carbon dioxide sensors. Shortage of raw materials and labours had hampered the industry due to which there disruption of supply chain and demand. COVID-19 negatively impacted the advanced carbon dioxide sensors market growth due to decline in carbon dioxide sensors.

Latest Trends

"Technological advancement to boost the market growth "

High implementation of advanced technology and the existence of large players in county are likely to create generous growth opportunities for the market. Technological improvement and expansion will further enlarge the performance of the product. Developments in technology have led to the expansion of new and better-quality materials contributing to the market growth. Team up with other firms can lead to the enlargement of new products, services, technologies that can help to motivate growth and income. Some players focus on product improvement to meet consumer requirements and likings. 

Advanced Carbon Dioxide Sensors Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into infrared carbon dioxide sensor, catalytic carbon dioxide Sensor, heat conduction carbon dioxide sensor.

Infrared carbon dioxide sensor capture the maximum market share through forecast period.

• By Application Analysis

According to application, the market can be segmented into oil, chemical, metallurgical, biological, others.

Advanced carbon dioxide sensors market players cover segment as chemical will dominate the market share during forecast period.

Driving Factors

"Increasing acceptance of Co2 in agriculture to upsurge the market growth"

Increasing implementation of green building ideas and rising acceptance of carbon dioxide sensors in agriculture predictable to generate beneficial growth opportunities near future. Using CO2 sensors to identify and measure CO2 concentration precisely has become more vital as technology is efficiently applied to farm managing such as for plant growth, crop yields, upgrading, and production quality.

"Increasing emission of harmful chemicals to enhance the market"

Increased discharge of harmful gasses from various chemical industries is expected to increase the demand for the advanced CO2 sensors market. Growing worry of various industries with respect to monitoring their emission of carbon dioxide is estimated to fuel the market. Prompt development and rising CO2 emissions around the world have resulted in a substantial increase in demand for advanced CO2 sensors. 

Restraining Factors

"High cost and lack of awareness has decline the market growth"

High cost of advanced carbon dioxide sensors, lack of uniform testing procedure, lack of maintenance are some the factors that is affecting the market growth.  High cost reduces the sales volume and hampers the market growth. Also, lack of awareness among the users about the benefits of advanced carbon dioxide sensors postures a limitations to market enlargement.

Advanced Carbon Dioxide Sensors Market Regional Insights

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"North America to dominate the region due to growing construction activity"

North America is further expected to witness growth in the advanced carbon dioxide sensors market share. The region is anticipated to witness major growth over the forecast period due to constant development in the worldwide construction market. Market is likely to raise due to an upsurge in demand for progressive Co2 sensors which are utilised underwater to measure and track carbon dioxide levels and other gases existing in water bodies. With the rapidly growing end-user industries, technological progressions, high vitality prices, CO2 discharges control regulations, and growing demand for unpolluted fuels in the region is estimated to lead the market during the forecast period.

Key Industry Players

"Key players focus on partnerships to gain competitive advantage."

The key players are enthusiastically contributing in strategic events that are aimed at upholding strong market position and growing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They outlay strictly on research and development in order to arise with more new technology so that they can maintain and progress their existing market. The market modifications are dynamic such as market expansion, partnership and merger.

List of Market Players Profiled

• Amphenol (U.S.)
• AirTest Technologies (U.S.)
• Honeywell (U.S.)
• Johnson Controls (U.S.)
• SENSEAIR (Sweden)

Report Coverage

The report provides examination and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent expansion analysis are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers nationwide and regional level market size and forecast. The report gives businesses the ability to research new outlook in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.