Carbon Monoxide Detector Market to USD 906.92 Million By 2030, Analysis By Consegic Business intelligence
Carbon Monoxide Detector Market to grow at 3.7% CAGR (2023-2030) driven by increasing cases of CO poisoning worldwide, Major Participants Includes are ABB Ltd., Aeroqual Ltd., Alphasense, Dynament Ltd., First Alert, GfG Europe Ltd., Kidde, MTI Industries, Inc., NGK Insulators Ltd., Robert Bosch GmbH, Siemens AG, System Sensor
New York, June 21, 2023 (GLOBE NEWSWIRE) — As per the research report “Global Carbon Monoxide Detector Market” published by Consegic Business Intelligence, the market was worth USD 691.74 Million in 2022 and is anticipated to reach over USD 906.92 Million by the year 2030, growing at a CAGR of 3.7%.
A carbon monoxide detector is an electronic device that detects the presence of carbon monoxide in a building and sounds an alarm to warn the occupants about the presence of harmful gases in the atmosphere. Carbon monoxide is a greenhouse gas that is released into the air due to the incomplete combustion of fossil fuels in cars, trucks and other machinery that burn fossil fuels. Consequently, CO detectors are used to monitor the indoor air quality in residential, commercial, and industrial spaces.
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The rising number of carbon monoxide toxicity cases worldwide is driving the demand for CO detectors to detect the presence of harmful gases in air. As a result, carbon monoxide detectors are installed in stair towers, elevator shafts and ventilation shafts in offices and large commercial spaces to prevent CO toxicity. For instance, in March 2022, Kidde launched redesigned range of battery-powered carbon monoxide (CO) alarms that provides continuous monitoring of CO levels in residential spaces.
The integration of advanced connectivity systems including Wi-Fi with CO detectors is anticipated to present potential opportunities for the growth of carbon monoxide detector market during the forecast period. The operation of CO detectors with Wi-Fi connectivity allows individuals to receive alerts via mobile notification. However, the limited adoption of CO detectors due to false alarms in homes, hospitals, colleges, and government agencies is hindering the growth of the market.
|Report Attributes||Report Details|
|Market Size By 2030||USD 906.92 Million|
|Key Players||ABB Ltd., Aeroqual Ltd., Alphasense, Dynament Ltd., First Alert, GfG Europe Ltd., Kidde, MTI Industries, Inc., NGK Insulators Ltd., Robert Bosch GmbH, Siemens AG, System Sensor|
|By Sensor Type||Semiconductor Sensor, Electrochemical Sensor, Biomimetic Type, Solid-State/MOS Sensor PID, Catalytic, and Infrared|
|By Product Type||Wall Mounted/Fixed, Portable, and Others|
|By End-User||Medical, Petrochemical, Building Automation, Industrial, Environmental, Automotive, and Others|
|Report Coverage||Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more|
|By Region||North America, Europe, Asia-Pacific, Latin America, Middle East & Africa|
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Carbon Monoxide Detector Market Growth Drivers:
- The growing adoption of carbon monoxide detectors in commercial spaces for the safety and security of the employees is driving the growth of the market.
- Stringent government regulations to curb carbon monoxide poisoning cases are driving the growth of the market.
- The growing adoption of smart home systems is driving the growth of CO detectors in residential spaces, resulting in market growth.
- The limited adoption of CO detectors due to false alarms produced by devices in residential, commercial, and industrial settings is hindering the growth of the market.
- The frequent charging requirements of CO detectors is restraining the growth of the market.
- The integration of advanced technologies such as Wi-Fi with CO detectors is anticipated to present potential opportunities for the growth of the carbon monoxide detector market during the forecast period.
Global Carbon Monoxide Detector Market Segmentation Details:
Based on Sensor Type, the biomimetic segment contributed the largest shares to the market growth in 2022. The presence of chromophore material in biomimetic sensors to detect the presence of CO in air is driving the growth of the market. Therefore, the application of biomimetic CO detectors in residential and commercial spaces such as hospitals, hotels, and apartments are driving the growth of the market.
Based on Product Type, the wall-mounted segment accounted for the maximum revenue share in the year 2022. CO detectors have the ability to produce alarms when elevated CO levels are detected by the sensor. Moreover, the presence of remote display unit and main sensor unit in wall-mounted CO sensors for the detection of harmful gases present in the atmosphere is accelerating the growth of the market.
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Based on End-User, the industrial segment accounted for the maximum revenue share in the year 2022. The rising emission of CO in the air due to partial oxidation of hydrocarbon gases is driving the growth of the market. Therefore, the adoption of carbon monoxide detectors in manufacturing plants and warehouses is accelerating the growth of the market.
Based on region, North America accounted for the largest revenue share in the year 2022. The rising emission of carbon monoxide in the air due to the application of fuel-burning appliances such as warm-air heaters in the region is driving the demand for CO detectors. Therefore, the extremely cold climatic conditions in North America is propelling the growth of the market. Moreover, the adoption of advanced detection systems such as Wi-Fi integrated CO detectors is contributing to the growth of the market.
Key Market Highlights
- Globally, carbon monoxide detector market is divided based on the sensor type into semiconductor sensor, electrochemical sensor, biomimetic type, solid-state/MOS sensor PID, catalytic, and infrared.
- In the context of product type, the market is separated into Wall Mounted/Fixed, Portable, and Others.
- Based on end-user, the market is separated into medical, petrochemical, building automation, industrial, environmental, automotive, and others.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
- Asia-Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in Carbon Monoxide Detector market.
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- In September 2020, Riken Keiki Co., Ltd. announced the production of new gas detectors called SD-3 Series featuring signal converters to monitor and detect such as combustible gases, toxic gases, and oxygen in the surrounding atmosphere.
- In October 2021, Honeywell International Inc. introduced two new gas detectors featuring Infrared Technology that deliver continuous monitoring for dangerous gases even in rain, fog, and snow.
List of Major Global Carbon Monoxide Detector Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
• ABB Ltd.
• Aeroqual Ltd.
• MTI Industries, Inc.
• Dynament Ltd.
• NGK Insulators Ltd.
• Robert Bosch GmbH
• Siemens AG
• System Sensor
Global Carbon Monoxide Detector Market Segmentation:
- By Sensor Type
- Semiconductor Sensor
- Electrochemical Sensor
- Biomimetic Type
- Solid-State/MOS Sensor PID
- By Product Type
- Wall Mounted/Fixed
- By End-User
- Building Automation
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Key Questions Covered in the Carbon Monoxide Detector Market Report
- What are Carbon Monoxide Detectors?
– Carbon Monoxide Detectors are the devices that monitor the levels of carbon monoxide released in the air by partial combustion of fossil-fuels in devices such as warm air heaters and other devices.
- What are some of the most important applications of carbon monoxide detector and how do they impact the industry’s growth potential?
– Carbon Monoxide Detector are used for the detection and monitoring of harmful greenhouse gases such as carbon monoxide, carbon dioxide, and others. Moreover, the devices give appropriate notifications to the consumers to take necessary steps against CO poisoning.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the carbon monoxide detector growth in the coming years?
– North America accounted for the largest revenue share in the year 2022. The rising cases of CO toxicity in the region is driving the growth of the market. The increasing adoption of warm air heaters to combat cold climatic conditions is driving the demand for CO detectors in the region.
- Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030?
– Asia Pacific is anticipated to register fastest CAGR growth during the forecast period. The growing construction and manufacturing industry in Asia-Pacific region is releasing large amounts of CO in air. Therefore, the growing demand for CO detectors in industrial spaces is driving the growth of the market.
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