Key Players
The Europe advanced CO2 sensor market report by Market Research Future (MRFR) has included profiling of several prominent players in the market. Such list of players include 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 ( Subsidiary Of Ingersoll Land) (Ireland), Senseair AB (Sweden), E+E Elektronik (Austria), Bluesens (Germany), Digital Control System Inc. (U.S.), and Vertiss Industries (U.S.).
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Market Segmentation
The Europe advanced CO2 sensor market is studied for several segments for a clear understanding of the market. Such segmentation is conducted on the basis of type, application, manufacturers. Based on type, the advanced CO2 sensor market in Europe is segmented into NDIR and others. Among these, the NDIR segment is expected to gain the most prominent market share by the end of the assessment period. The chemical CO2 sensor segment is expected to hold the second-largest share of the Europe advanced CO2 sensor market through the forecast period.
On the basis of application, the Europe CO2 sensor market is segmented into building automation and domestic appliance, automotive, petrochemical, industrial, environmental, and medical. Within these segments, the advanced CO2 sensors have found the highest rate of application in the automotive segment. Hence, the automotive sector is expected to hold the largest share of Europe advanced CO2 sensor market, with building automation accounting for the second-largest share and the industrial segment holding the third-largest share of the market.
Market Overview
Advanced CO2 sensors aid to monitor the intensity of CO2 in several mediums such as water, air. It can also adjust automatically to the changes in the temperature, humidity, and altitude to conduct such monitoring. The Europe sensors market is heavily influenced by the upscaling of the advanced CO2 sensors market and an augmentation of the demand for location-based advanced CO2 sensors. A rising need for better measurement of carbon emission and air pollution is primarily responsible for the ascension noted in Europe’s advanced CO2 sensors market during the forecast period.
Furthermore, increased usage of CO2 sensors in institutes and upscaling government initiatives are some of the significant drivers of Europe Advanced CO2 Sensor Market. Regularizes for controlling air pollution is also witnessing higher demand for advanced CO2 sensors, supplementing market growth. The growing scope of application of several CO2 sensors is fueling the growth for Europe’s market. The U.S. Department of Energy recently financed around $11.5 million to the Advance Geologic Carbon Storage and Geothermal Exploration which is expected to capture carbon emissions from the use of fossil fuels. This is estimated to contribute to the impressive market growth for advanced CO2 sensor market in Europe. Such use by the exploration is also augmenting the renewable geothermal resources, which is complimenting the region’s market growth.
A drastic rise in infrastructural development is noted, owing to proliferation in population. Hence, with the mounting growth noted in the real estate and construction industry, several indoor pollutants that require the use of CO2 sensors. These include pollutants from volatile organic compounds such as paints and new furnishing, along with pollutants from chemical uses, equipment and cleaning processes. The carbon dioxide emitted through every breath then turns into a proxy for these pollutants and helps in the determination of the functioning of the ventilation systems. Even though CO2 is not a pollutant, it has a bad effect on the health of humans, along with a very harmful impact on the environment. Humans begin to feel sleepy and sluggish due to intake of large quantities of carbon dioxide, which affects the concentration levels of humans, resulting in lower efficiency. All the factors aforementioned are resulting in a dire need to control and curb the emission of carbon dioxide, hence, creating lucrative growth opportunities for Europe’s market.
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