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News

Carbon dioxide sensor market to be worth $145.6 million by 2020

Companiesandmarkets : 19 April, 2013  (Special Report)
The CO2 sensors market has been forecast to rise at a compound annual growth rate (CAGR) of 32.5% through to 2016, driven by the increasing demand for location-specific CO2 sensors, and the increasing institutional usage of CO2 sensors. The market for advanced carbon dioxide sensors will expand from $10.3 million in 2012 to a towering $145.6 million.

A CO2 sensor is an instrument for the measurement of carbon dioxide gas. The most common principles for CO2 sensors are infrared gas sensors (NDIR) and chemical gas sensors. Measuring carbon dioxide is important in monitoring indoor air quality and many industrial processes.

The exponential adoption of automobiles and electronic goods is encouraging numerous institutions and organisations to install and track CO2 emissions from their operations. As a result, numerous manufacturing facilities are fitting CO2 sensors as a standard practice.

Moreover, the institutions and organisations that are involved in environmental pollution control and measuring CO2 emissions in the surroundings are becoming highly active in these practices.

There is an increasing demand for CO2 sensors in bulk food storage sector, due to their proven ability in detecting incipient spoilage, as well as assessing levels of carbon dioxide in storage structures and controlled atmosphere packages.

The key factor hindering the growth is the high cost of advanced CO2 sensors. The increasing complexity in manufacturing combined with the high cost is leading the market to a deadlock situation where customers need it but do not perceive any value in the high cost of the devices.

Key vendors dominating the CO2 sensor market include Digital Control Systems, GE Measurement and Control Solutions, Honeywell International and Johnson Controls.

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