ID: MRFR/SEM/8984-HCR | March 2021 | Region: Global | 100 pages
Carbon Dioxide Monitors Market is estimated to reach USD 799.2 Million by 2026, registering a CAGR of 8.7% during the forecast period of 2020–2026. The carbon dioxide monitors are electronic devices that continuously monitor the presence and the saturation level of carbon dioxide in the environment. The Carbon Dioxide monitors are generally deployed in enclosed spaces where the air ventilation is significantly poor or not up to the mark. The increasing health hazards reported every year were due to the poor air ventilation in the workspace or at the residence. The growing population and urbanization have increased the number of tight space buildings which has resulted in poor air ventilation. The carbon dioxide monitors help in the early detection of the harmful gas and report to the user who monitors the condition. The Carbon Dioxide monitors and other harmful gas monitors in the office spaces have significantly improved the productivity among the employees and overall health of those employees.
The availability of types in the carbon dioxide sensors or monitors has also impacted the overall growth of Carbon Dioxide monitors as they improve the overall user experience. Hand-held devices were increasingly used for industrial purposes as they are useful in spot detection. The Carbon Dioxide sensors are increasingly used during the oil recovery process which includes the risk of letting out a huge amount of Carbon dioxide into the atmosphere while pumping out the rocks. Efficient carbon dioxide sensors are used to control the emission of Carbon Dioxide and other harmful gases into the atmosphere.
COVID 19 Analysis:
The COVID-19 widespread has affected several industries and economic conditions across the globe. During the pandemic, the health monitoring devices were gaining popularity and so are the health supplementary diets and air quality sensors and monitors. Essential parameters were carried out to control the airborne infections and widespread COVID 19 as the government organizations have imposed stringent laws during the pandemic. On the other hand, the requirement of regular maintenance and installation procedures during the declining economic condition has adversely impacted the growth of the carbon dioxide monitors industry.
The faster detection of the Carbon Dioxide levels before the saturation levels can save a large number of casualties. The Carbon Dioxide monitors are gaining popularity in enclosed offices, schools, colleges, especially in schools because children lack resistance against the CO2 gases and are prone to get affected very quickly compared to adults.
The advent of novel technologies and them being integrated with the Carbon Dioxide monitors, intimating and displaying required suggestion such as upgrade your HVAC systems, air quality is poor in the handheld devices have increased the carbon dioxide monitors market demand.
The increasing geriatric population in several countries and growing awareness about the necessity of carbon dioxide monitoring devices are increasing the overall growth of the Carbon Dioxide monitors market. The increasing incidences of lung-related diseases and conditions such as Asthma, Chronic bronchitis are also presenting opportunities for the overall growth of the Carbon Dioxide monitors industry.
The increasing urbanization, industrialization, research, and development in the industry are expected to propel the overall growth of the Carbon Dioxide monitors market value in the forecast period. The advancements in the industry feature lightweight device, clear and concise alarming systems to the official representative, longer battery life, compact structure so that there are no additional costs required for the hefty hardware systems, simple operating systems which can be handled by any professional are bolstering the carbon dioxide monitors market value in the recent times.
The developing regions lack awareness regarding the subject and the higher cost incurred for the installation and maintenance of the device are hindering the overall growth of the carbon dioxide monitors industry.
The Fixed or wall-mounted Carbon Dioxide detectors are not considered to perform effectively as they require more saturation levels to trigger the alarm, whereas they can only detect the presence of CO2 gas-only within the 5m radius. This factor is hindering the overall growth of the Wall-mounted CO2 detector.
During the installation of the Carbon Dioxide monitors, the monitor has to be checked for calibration before making required measurements. The user has to provide sufficient warm-up time for the device to get stabilized. Such factors have to be carried out during the installation. The lack of skilled professionals to handle the Carbon Dioxide monitors is presenting challenges for the overall growth of the Carbon Dioxide monitors industry.
The prevalence of cheap CO2 detectors which have built-in software corrections that assumes the carbon dioxide gas based on the surrounding or background levels doesn’t provide legit data, therefore they are not suitable for industrial purposes. If the room is emptied, the close-up level might be changed to 400ppm, however, the original value would be 4500ppm, such misleading information on the display could be extremely hazardous.
Cumulative Growth Analysis:
The carbon Dioxide monitors have been increasingly deployed in several industrial verticals, especially in the enclosed areas where the risk of acquiring poor air quality is higher. Recently, the UK government has released an awareness program and increased the investment in implementing over 300,000 monitors in the portable form in the classrooms where the ventilation is generally forced and every classroom will comprise around students. These initiatives are expected to keep the COVID 19 spread under control. The UK government has recommended portable CO2 monitors as they are comparatively efficient in detecting the CO2 gas and are extremely convenient for the users. The market value of Carbon Dioxide monitors industry is expected to surpass over USD 799.2 million by the year 2026 while registering a CAGR of 8.7%.
Value Chain Analysis:
The Carbon Dioxide monitors are gaining popularity in several developed countries owing to the potential benefits of the Carbon Dioxide monitors. The emission of Carbon Dioxide gas during the industrial and commercial processes will significantly increase the crucial point above which the environmental condition will be hazardous to human health. Since Carbon Dioxide is an odorless and colorless gas, the concentration of the gas goes unnoticed unless it is monitored. A recent study shows that the concentration of Carbon Dioxide gas when goes beyond 1000 ppm is hazardous, harms the human brain, and affects sleep. Early symptoms will include dizziness, lack of focus. Such studies and government initiatives have increased the awareness regarding the installation of Carbon dioxide monitors and thereby increasing Carbon Dioxide Monitors market value in recent times. The market value of the Carbon Dioxide Monitors industry in the USA has reached about USD 123 million in the year 2020, due to the varied structure of the CO2 monitors like wall-mounted monitors and handheld monitors for the spot checking in the industrial applications are increasingly driving the overall growth of Carbon Dioxide monitors industry.
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North America and Asia-pacific regions are expected to dominate the Carbon Dioxide Monitors market value in the forecast period, owing to the increasing cases of respiratory failures in Asia-pacific regions. Among the two configurations, the mainstream CO monitors help measure the respiratory gas directly from the airway. On the other hand, the growing geriatric population and increasing air-borne infections in North America have propelled the carbon dioxide monitors market value in recent times. With the increasing awareness across the Asia-pacific regions, the market value of the carbon dioxide monitors industry in China is expected to reach over USD 184.5 million by the year 2027 while registering a healthy CAGR of 12.9% during the forecast period.
In the year 2021, one of the leading market players, UPL Ltd has collaborated with Telesense which is a US-based company and launched the scalable sensor technology which utilizes an AI platform that monitors several parameters including, temperature, humidity, and CO2 levels. The collaboration has increased the overall sales rate across the USA. The monitoring device is primarily built to monitor the grain storage, residential units, basically indoors.
In the year 2021, the Forensic detectors have launched the CO2 monitors that comply with the California Assembly Bill AB 841 and are considered as the most suitable monitor for the indoors such as classrooms, hospital wards, gyms, and offices. The monitor has been extremely beneficial in reducing the COVID transmission and risk of getting an airborne infection.
This report has covered:
|Market Size||USD 799.2 Million|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Type, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Criticare Technologies, Inc., Dräger Medical GmbH, GE Healthcare, Invivo Corporation, Masimo Corporation, Medtronic PLC, Mindray DS USA, Inc., Nihon Kohden Corporation, Nonin Medical, Inc., OSI Systems, Inc., Philips Healthcare, Radiometer Medical ApS, Smiths Medical, and Thames Medical|
|Key Market Opportunities||New product development, mergers, and acquisitions|
|Key Market Drivers||Increasing cases of respiratory failure across this region|
Frequently Asked Questions (FAQ) :
The market size is estimated to reach USD 799.2 million by 2026.
The market is expected to grow at a CAGR of 8.7%.
Increasing cases of respiratory failure drives the carbon dioxide (CO2) monitors market.
North America will hold the largest market share during the forecast period.
Criticare Technologies, Inc., Dräger Medical GmbH, GE Healthcare, Invivo Corporation, Masimo Corporation, Medtronic PLC, Mindray DS USA, Inc., Nihon Kohden Corporation, Nonin Medical, Inc., OSI Systems, Inc., Philips Healthcare, Radiometer Medical ApS, Smiths Medical, and Thames Medical.