Global CO2 Sensor Modules (in Larger End Customer Devices) Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global CO2 Sensor Modules (in Larger End Customer Devices) Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Carbon dioxide (or CO₂) is a colorless and odorless gas that is vital to life on Earth. Its nominal concentration is about 400 ppm (0.04 %). There are many occurrences of CO₂ in nature. For example, humans produce carbon dioxide when they exhale. The CO2 Module is a gas sensor for measuring carbon dioxide (CO₂) concentration. The most common principles for CO2 sensors are infrared gas sensors (NDIR) and chemical gas sensors. Carbon dioxide sensors are widely used in many fields such as industry, agriculture, national defense, medical and health care, environmental protection, and aerospace. Measuring carbon dioxide is important in monitoring indoor air quality, the function of the lungs in the form of a capnograph device, and many industrial processes.

Market Overview:

The latest research study on the global CO2 Sensor Modules (in Larger End Customer Devices) market finds that the global CO2 Sensor Modules (in Larger End Customer Devices) market reached a value of USD 427.3 million in 2023. It’s expected that the market will achieve USD 590.52 million by 2029, exhibiting a CAGR of 5.54% during the forecast period.

Market Drivers and Impact

Strict European regulations drive use of carbon dioxide sensors
Stringent requirements for gas emissions and subsequent emission monitoring requirements are expected to boost the growth of the carbon dioxide gas sensor market in Europe. Safety regulations require all European automotive OEMs to include gas sensor systems in their products. As pollution control regulations become stricter, the use of carbon dioxide gas sensors for pollution reduction in the automotive industry is expected to increase over the forecast period.

Market Challenges and Impact

Higher price pressure leads to lower average selling price
While widespread adoption of carbon dioxide sensors in automobiles, HVAC systems, air quality monitoring systems, and consumer devices has led to increased shipments of these sensors, sales growth has been severely limited by price erosion. This is partly due to intense competition among a growing number of CO2 sensor manufacturers. Several companies are shifting their R&D activities toward providing cost-effective sensor solutions that use MEMS technology and developing IoT-compatible sensors. This can lead to pricing pressure, especially for applications that use CO2 sensors in large quantities. As a result, manufacturers are forced to reduce the potential price of CO2 sensors. While lower average selling prices are good for consumers, they lead to lower profit margins for suppliers. Consequently, significant pricing pressure has led to a decrease in average selling price, thereby hampering revenue growth in the highly competitive carbon dioxide sensor market.

Region Overview:

In 2022, the share of the CO2 Sensor Modules (in Larger End Customer Devices) market in North America stood at 40.66%.

Company Overview:

Honeywell
Honeywell International Inc. is an American listed multinational conglomerate headquartered in Charlotte, North Carolina. It operates in four business areas: Aerospace, Construction Technologies, Performance Materials and Technologies (PMT) and Safety and Productivity Solutions (SPS). Honeywell is a Fortune 100 company with a 2023 ranking of No. 115.

SenseAir (Asahi Kasei)

Asahi Kasei Microdevices offer a variety of advanced sensing devices based on compound semiconductor technology and sophisticated IC products featuring analog/digital mixed-signal technology.

Honeywell is one of the major players operating in the CO2 Sensor Modules (in Larger End Customer Devices) market, holding a share of 20.07% in 2023.

Segmentation Overview:

By type, NDIR CO2 Sensor segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Online segment occupied the biggest share from 2018 to 2022.

Key Companies in the global CO2 Sensor Modules (in Larger End Customer Devices) market covered in Chapter 3:

MIPEX TECHNOLOGY
ELT SENSOR
Micro-Hybrid Electronic GmbH
Sensirion
Alphasense
Cubic Sensor and Instrument
Honeywell
Ati Airtest Technologies Inc.
Zhengzhou Winsen Electronics
Murata
SenseAir (Asahi Kasei)
Figaro
Amphenol
Gas Sensing Solutions

In Chapter 4 and Chapter 14.2, on the basis of types, the CO2 Sensor Modules (in Larger End Customer Devices) market from 2019 to 2030 is primarily split into:

NDIR CO2 Sensor
EC (Electrochemical) CO2 Sensor
PAS (Photoacoustic Spectroscopy) CO2 Sensors

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the CO2 Sensor Modules (in Larger End Customer Devices) market from 2019 to 2030 covers:

Online
Offline

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)