Dissolved Oxygen Sensors Market revenue to hit USD 980 Million by 2035, says Research Nester
Prominent dissolved oxygen sensor market players include Hky Technology Co., Ltd., Metex Corporation, Horiba, Ltd., Mettler Toledo, Campbell Scientific India Pvt. Limited, Emerson Electric Co., Xylem Analytics GmbH & Co. KG., Hach Company (Danaher Corporation), Thermo Fisher Scientific Inc, and Honeywell International Inc.
New York, July 11, 2023 (GLOBE NEWSWIRE) — The global dissolved oxygen sensors market is projected to expand at ~6% CAGR between 2023 and 2035. The market is expected to garner a revenue of ~USD 980 million by the end of 2035, up from a revenue of ~USD 350 million in the year 2022, owing to the increasing demand for dissolved oxygen sensors from various industries, such as water and wastewater treatment, fisheries, and aquaculture, to monitor the levels of dissolved oxygen in water bodies. In addition, the need for cleaning and treating wastewater as well as increasing water pollution are expected to drive the demand for these sensors.
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It is estimated that approximately 68% of the wastewater generated by high-income countries is treated. In upper-middle-income countries, the ratio decreases to 37%; in lower-middle-income countries, it drops to 27%; and in low-income countries, it drops to 7%. It amounts to nearly 19% of global wastewater treatment. A growing number of wastewater management systems use sensors, which accounts for the market growth. The demand for sensors has increased owing to the growing need for effective monitoring and control of water quality in various industries. The sensors can measure dissolved oxygen levels in water and help in preventing water pollution. Additionally, the sensors can detect any changes in the water quality and alert operators to take necessary action before the quality of the water deteriorates.
Dissolved Oxygen Sensors Market: Key Takeaways
- Dissolved Oxygen Sensors Market in Asia Pacific to have the highest growth rate
- The highest growth rate to be seen in the optical sensors segment
- Market in North America to propel highest growth
Increased Water Contamination to Drive Market Growth
The rising prevalence of water source contamination and rising awareness of water pollution are expected to drive growth in the dissolved oxygen sensors market. It has been reported by the World Health Organization (WHO) that 785 million people do not have access to basic drinking water, and 2 billion people drink water that is contaminated. As water sources become increasingly polluted, authorities are becoming more aware of the need to monitor water quality. Dissolved oxygen sensors are an effective way to measure dissolved oxygen levels, which is necessary to ensure water safety. This increased awareness and need contribute to an increased demand for dissolved oxygen sensors. Moreover, as water pollution continues to increase, so does the need for more advanced sensors that can detect even small amounts of contaminants. Dissolved oxygen sensors are highly accurate and can measure even the smallest changes in dissolved oxygen levels, giving companies the ability to ensure that the water they are using is safe and compliant with regulations. This increased demand for dissolved oxygen sensors is expected to drive the global market for these sensors in the coming years.
Dissolved Oxygen Sensor Market: Regional Overview
The dissolved oxygen sensors market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increasing Water Pollution Levels to Boost Asia Pacific Market Growth
The dissolved oxygen sensors market in the Asia Pacific region is estimated to garner the largest revenue by the end of 2035 on account of an increase in the amount of water required by an expanding population, as well as a rise in water pollution levels in developing countries. For instance, the overall drinking water quality in China today is contaminated with levels of animal and human excreta that, in rural areas, exceed maximum permissible levels by up to 85%, while in urban areas, they exceed maximum permissible levels by 29%. Moreover, the need to monitor water quality has increased significantly in the region owing to growing industrial activities, such as mining and paper production, as well as rapid urbanization. This has created a need for reliable and accurate dissolved oxygen sensors that can measure the amount of dissolved oxygen in water. Furthermore, as a result of the rapid growth of the biotech and pharmaceutical industries in the emerging economies, regional market growth is expected to increase in the coming years. The biotechnology industry in India surpassed USD 80 billion in 2022, an increase of 15% from the previous year. A total of 5,360 biotech startups were registered in India in 2021, an increase of 1125 from 2021. It is estimated that 10,000 startups will be formed by 2024. Biotech and pharmaceutical industries require precise and accurate measurements of dissolved oxygen in their production processes, and they are increasingly turning to sensors to provide the necessary data. This demand from the industries is driving the growth of the dissolved oxygen sensors market in the region.
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Exponential Growth in the Chemical and Petrochemical Sector to Drive Market Growth in the North American Region
The dissolved oxygen sensors market in the North America region is estimated to garner the highest CAGR by the end of 2035, backed by its increasing demand in chemical and petrochemical industries along with rapid industrial growth. For instance, a growth rate of 0.5% per year on average has been observed in the petrochemical manufacturing industry in the US between 2018 and 2023. The chemical and petrochemical industries consume a large amount of water, which is an essential ingredient in many chemical processes. The sensors measure the level of dissolved oxygen in the water and provide data that can be used to adjust the chemical processes to ensure that the quality of the water remains at a desirable level. Moreover, the increasing demand for clean water, rising awareness about environmental sustainability, the presence of a large number of water treatment plants and industries, and stringent government regulations regarding water quality have increased the adoption of dissolved oxygen sensors in the region.
Dissolved Oxygen Sensor Segmentation by Sensor Type
- Concentration Cell Sensors
- Oxide Semiconductor Sensors
- Electrochemical Sensors
- Optical Sensors
The optical sensors segment is anticipated to hold the largest revenue by the end of 2035, backed by the increasing demand for optical sensors in a variety of industries, such as food and pharmaceuticals. Optical sensors are used for a variety of applications, such as monitoring the concentration of oxygen in liquids and gases, measuring pH levels, and detecting the presence of contaminants. Optical sensors are also preferred, as they are able to measure oxygen levels with high accuracy, are cost-effective, and are easy to install and maintain. In addition, the rapid growth of the food and beverage industry is also anticipated to drive the use of optical sensors, thus augmenting the segment’s growth. According to research, the food industry’s grocery sales in 2021 were valued at approximately USD 2.5 trillion and are expected to increase by almost USD 550 billion by 2026. Online food retail sales are expected to increase as well in the coming years. Dissolved oxygen optical sensors are used to measure dissolved oxygen levels in food and beverage production processes, such as fermentation and water treatment. They are used to ensure that the food and beverage products being produced are safe and of high quality.
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Dissolved Oxygen Sensor Segmentation by Application
- Wastewater Treatment
- Environmental Sciences
The aquaculture segment is anticipated to hold the largest revenue by the end of 2035, as the aquaculture industry has been rapidly growing in recent years, with an increased focus on the quality of water in aquaculture tanks. Dissolved oxygen sensors are used to measure the dissolved oxygen content in the water, which is essential for the growth of aquatic life. The sensors provide real-time data on the oxygen content of the water, allowing aquaculture operators to quickly adjust their water management practices in order to optimize the environment for aquatic life. This can help them to reduce the risk of mortality and improve the overall quality of the water, leading to a better yield for the industry. The growing interest in aquaculture and fish farming is expected to further drive the aquaculture sector in the coming years, owing to consumer demand for fish and other seafood products. For instance, more than 178 million metric tons of fish were produced worldwide in 2018. In addition, there is an annual production of around 200 million metric tons of fish and seafood throughout the world. Fish farming helps to increase production of fish and other aquatic species, which in turn increases the demand for dissolved oxygen sensors to ensure a healthy aquatic environment.
Few of the well-known market leaders in the global dissolved oxygen sensors market that are profiled by Research Nester are Hky Technology Co., Ltd., Metex Corporation, Horiba, Ltd., Mettler Toledo, Campbell Scientific India Pvt. Limited, Emerson Electric Co., Xylem Analytics GmbH & Co. KG., Hach Company (Danaher Corporation), Thermo Fisher Scientific Inc., Honeywell International Inc., and other key market players.
Recent Development in the Dissolved Oxygen Sensor Market
- HACHI, a Danaher Corporation subsidiary, acquired Aquatic Informatics Inc., an aeronautical analytics company. The Aquatic Informatics company develops software solutions for managing and analyzing critical water data.
- Acuva Technologies Inc. has introduced a new Point-of-Entry (PoE) UV-LED water disinfection system that provides flow rates ranging from 8 to 20 GPM, with minimal maintenance requirements. This system uses UV-LED light to break down contaminants on a molecular level, rendering them harmless and providing safe drinking water.
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