Europe Advanced CO2 Sensor Market Size is expected to reach USD 3.4 Billion at a CAGR of 14.2% by the end of the Forecast Period 2022-2030
Advanced CO2 sensors help to monitor the intensity of CO2 in different mediums like air or water and can adjust automatically to changes in temperature, humidity, and altitude. This market is an integral part of the global sensors market and is heavily influenced by the augmented demand for location-based advanced CO2 sensors, which results in its impressive CAGR. Rising need for better air pollution measurement systems, to drive market growth during the forecast period.
Increased Institutional Usage of CO2 Sensor and Increasing Government Initiatives and Regularizes for Controlling Air Pollution are some of the major drivers that exhibits the growth of Europe Advanced CO2 sensor market. The potential, demand, and usage of advanced CO2 sensor in various applications have increased support from governments worldwide. Recently in July 2016, The U.S. Department of Energy invested $11.5 Million to Advance Geologic Carbon Storage and Geothermal Exploration which will capture the carbon pollution from the burning of fossil fuels and improves renewable geothermal resources – both of which will help to make the air purify.
With the increase in population there is drastic increase in the infrastructure. So with the increase in the real estate industry, there are many different indoor pollutants came into picture that includes from volatile organic compound such as paints and new furnishing to pollutants from chemical uses, equipment and cleaning processes. Carbon-dioxide is a part of every breath we take, and as we emit it, then it becomes a proxy for other pollutants and shows that the ventilation systems are working properly or not. While CO2 is not a pollutant it have an effect on humans, with increase in the level humans feel sleepy and sluggish, due to which it becomes difficult for the person to focus on the work and results into less productive.
Thus, to overcome with the above concerns the need of air pollution measurement systems has been increased. These systems are enabled with sensors like advance CO2 which helps to purify the air, which leads to the proper ventilation.
In this market analysis, analysts estimate the non-dispersive infrared (NIDR) CO2 sensors segment to account for nearly 83% of the total market share by 2016. The long lifespan, stability, and high humidity and dirt-withstanding nature of IR sensors are responsible for its high market share during the forecast period.
The key players of Europe Advanced CO2 Sensor market are Amphenol Corporation (U.S.), Honeywell International Inc.(U.S.), Johnson Control (Ireland), Simens AG (Germany), Ati Airtest Technologies Inc. (U.S.), Sick AG (Germany), Gas Sensing Solution (U.K), Trane ( Subsidary Of Ingresoll Land) (Ireland), Senseair AB (Sweden), E+E Elektronik (Austria), Bluesens (Germany), Digital Control System Inc. (U.S.), Vertiss Industries (U.S.) and among others.
Global Europe Advanced CO2 Sensor Market Analysis & Forecast, from 2016 to 2022
|Market Size||USD 3.4 Billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Manufacturers, Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Amphenol Corporation (U.S.), Honeywell International Inc.(U.S.), Johnson Control (Ireland), Simens AG (Germany), Ati Airtest Technologies Inc. (U.S.), Sick AG (Germany), Gas Sensing Solution (U.K), Trane ( Subsidary Of Ingresoll Land) (Ireland), Senseair AB (Sweden), E+E Elektronik (Austria), Bluesens (Germany), Digital Control System Inc. (U.S.), Vertiss Industries (U.S.)|
|Key Market Opportunities||The potential, demand, and usage of advanced CO2 sensor in various applications have increased support from governments worldwide.|
|Key Market Drivers||
Amphenol Corporation (U.S.), Honeywell International Inc.(U.S.), Johnson Control (Ireland), Simens AG (Germany) are the most known key players investing in the market’s growth.
Key segments of the market are identified as manufacture, type, application.
Honeywell is the market leader who has invested significantly with 24% in Advanced CO2 Sensor among all European region.
China, in APAC region has been projected to have the market share of USD 69 Million by the end of the estimated period.
The rising need for better air pollution measurement systems are to propel the market growth in the coming years.