New York, US, March 16, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Europe Advanced CO2 Sensor Market Research Report: By Manufacturers, Type, Applications - Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 3.4 billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 14.2%. during the assessment timeframe.
Europe Advanced CO2 Sensor Market Overview:
Modern CO2 sensors can automatically adapt to changes in temperature, humidity, and altitude and help to monitor the concentration of CO2 in various media like air or water. This market, which is a crucial component of the worldwide sensors market, has an excellent CAGR because of the increased demand for location-based sophisticated CO2 sensors. Throughout the projection period, the Europe advanced CO2 sensor market will rise due to the increasing demand for better air pollution measurement systems.
Rising government initiatives and regulations to control air pollution as well as increased institutional use of CO2 sensors are a few of the key factors contributing to the expansion of the Europe advanced CO2 sensor market. Governments all around the world are now supporting more advanced CO2 sensors due to their potential, demand, and utilisation in a variety of applications. The U.S. Department of Energy recently invested $11.5 million to advance geologic carbon storage and geothermal exploration, which will help to improve renewable geothermal resources and capture carbon pollution from the burning of fossil fuels. Both of these initiatives will contribute to the air becoming cleaner.
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Europe Advanced CO2 Sensor Market Key Players
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.)
|Revenue forecast in 2030||USD 3.4 Billion|
|Growth Rate||CAGR of 14.2% from 2022 to 2030|
|Key Market Opportunities||The potential, demand, and usage of advanced CO2 sensor in various applications have increased support from governments worldwide.|
|Key Market Drivers||Increased Institutional Usage of CO2 Sensor.|
Rising need for better air pollution measurement systems
Browse In-depth Market Research Report (94 Pages) on Europe Advanced CO2 Sensor Market:
Infrastructure has dramatically increased along with population growth.
However, as the real estate sector grew, a variety of indoor pollutants entered the picture, ranging from VOCs from paints and new furnishings to pollutants from chemical use, equipment, and cleaning procedures. Every breath we take contains carbon dioxide, and as we exhale it, it substitutes for other contaminants and indicates whether or not the ventilation systems are functioning effectively. Although CO2 is not a pollutant, it does have an impact on people. As CO2 levels rise, people start to feel drowsy and lethargic, which makes it hard for them to concentrate on their work and leads to lower productivity.
As a result, there is a greater demand for air pollution measurement devices to address the aforementioned issues. These systems are equipped with sensors, such as advanced CO2 sensors, that contribute to air purification and optimal ventilation.
According to this market report, analysts predict that by 2016, the non-dispersive infrared (NIDR) CO2 sensors segment would hold close to 83% of the market. The large market share of IR sensors throughout the forecast period can be attributed to their longevity, stability, high humidity resistance, and dirt resistance.
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Europe Advanced CO2 Sensor Market Segmentation:
Europe advanced CO2 sensor market is segmented on the basis of Manufacturers, type, and application.
By Type, the market is segmented into NDIR Sensor and Chemical Sensor.
By Application, the market is segmented into Medical, Petrochemical, Automotive, and Environmental.
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