Advanced Carbon Dioxide (CO2) Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Advanced Carbon Dioxide (CO2) Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global advanced carbon dioxide (CO2) sensors market size reached US$ 553.3 Million in 2022. Looking forward, McKinsey & Well expects the market to reach US$ 887.8 Million by 2028, exhibiting a growth rate (CAGR) of 8.2% during 2022-2028.

Advanced carbon dioxide (CO2) sensors refer to next-generation sensors used for measuring the concentration of CO2 in air, water and plasma. Some of the commonly used sensors include electrochemical, photoionizing detectors (PID), catalytic, infrared, laser and holographic. They are used in terrariums and automobile exhausts and air quality measurement and food spoilage detection systems as they can automatically adjust in response to the changes in temperature, humidity and altitude. As a result, these sensors are widely used for maintaining indoor air quality and minimizing energy consumption and CO2 levels in closed spaces.

Significant growth in the automotive, healthcare and petrochemical industries across the globe is one of the key factors creating a positive outlook for the market. Furthermore, the increasing requirement for industrial automation is providing a thrust to the market growth. Advanced CO2 sensors are used in industrial, residential and commercial complexes to monitor and control the levels of pollutants present in the air. In line with this, the increasing awareness regarding the prevention of wide-scale contamination of water bodies and atmosphere with toxic substances and fumes released from factories, is also contributing to the rising demand for these sensors. Various technological advancements, such as the integration of wireless sensors with the Internet of Things (IoT) and the production of 3D printed sensors, are acting as other growth-inducing factors. These sensors are utilized in smart buildings to monitor indoor air quality and facilitate automation in smart cities. Other factors, such as the miniaturization of sensors, along with extensive research and development (R&D) activities and the emerging trend of smart construction, especially in developing economies, are anticipated to drive the market further.

Key Market Segmentation:

McKinsey & Well provides an analysis of the key trends in each segment of the global advanced carbon dioxide (CO2) sensors market report, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on product, connectivity and end use industry.

Breakup by Product:

Non-Dispersive Infrared (NDIR) CO2 Sensors

Chemical CO2 Sensors

Breakup by Connectivity:

Wired CO2 Sensors

Wireless CO2 Sensors

Breakup by End Use Industry:

Healthcare

Automotive

Petrochemical

Building Automation

Consumer Electronics

Others

Breakup by Region:

North America

United States

Canada

Asia Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Amphenol Corporation, Asahi Kasei Corporation, Balluff GmbH, Gas Sensing Solutions Ltd., Honeywell International Inc., Johnson Controls International, Sick AG, Siemens Aktiengesellschaft, Vaisala Oyj and Veris Industries LLC (Schneider Electric).

Key Questions Answered in This Report:

How has the global advanced carbon dioxide (CO2) sensors market performed so far and how will it perform in the coming years?

What has been the impact of COVID-19 on the global advanced carbon dioxide (CO2) sensors market?

What are the key regional markets?

What is the breakup of the based on the product?

What is the breakup of the based on the connectivity?

What is the breakup of the based on the end use industry?

What are the various stages in the value chain of the industry?

What are the key driving factors and challenges in the industry?

What is the structure of the global advanced carbon dioxide (CO2) sensors market and who are the key players?

What is the degree of competition in the industry?