Europe Advanced CO2 Sensor Market Overview

Europe advanced CO2 sensor market 2020 can achieve a striking valuation of 3.6 Billion by 2021, believes Market Research Future (MRFR). The market also exhibits the potential to expand at a rate of 14.6% between 2016 and 2022, which is the evaluation period.

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Top Drivers and Main Barriers

CO2 sensors are used in closed areas for maintaining the air quality, reducing CO2 levels and cutting down energy costs. Given these benefits, institutions like research laboratories, government facilities and schools are increasingly making significant use of advanced CO2 sensors. Since advanced CO2 sensors facilitate ideal ventilation, while reducing absenteeism and enhancing the student performance in educational institutes, their demand can receive substantial boost in the coming years. Additionally, with the advent of smart homes, CO2 sensors are finding extensive use in several applications, which can induce prominent market growth in the ensuing period.

The swift expansion of the construction industry in various European countries like Germany and France has been the result of the increased spending on renovation of buildings and homes.  The notable growth of the construction industry in these countries can lead to better business expansion in Europe. Also, increasing spending on smart buildings coupled with the surge in the number of construction activities can hike up the demand for Europe advanced CO₂ sensors market over the review period.

Most of the European vendors are busy introducing highly advanced products that fulfill all the unmet requirements of end-users. These vendors boast of a vast geographical presence in Europe, high financial status and an edge over global competitors. Many of them are making sizeable investments in RD and are striving to expand their production capacity to handle time-to-market pressure. This can prove to a profitable factor in the Europe advanced CO₂ sensors market in the following years.

Regional Outlook

The market for advanced CO₂ sensors across countries like Germany, France and Russia is quite competitive, given the high concentration of vendors. These renowned players are busy launching highly advanced CO2 sensors that can catapult their position higher in the regional market. To cite a reference, Schneider Electric SE is one such company in France. Its recently launched advanced CO2 sensor is used in office buildings, schools, restaurants and hotels to detect the carbon dioxide levels. It helps improve the air quality to enhance the occupant comfort and also leads to energy savings.

However, it is proving to be really challenging for new players to gain entry in this intensive market. These new players do not possess technical advantage as well as downstream support and are therefore hesitant to foray into the Europe advanced CO2 sensors industry.

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Market Segmentation

Europe advanced CO2 sensor industry can be considered for segments like manufacturers, type and application.

The top-most manufacturers in the market are Honeywell Inc., Amphenol Corporation, Simens AG and others. Honeywell Inc. shows promise and can gain the biggest share in the region, followed by Simens AG, Amphenol Corporation, and others. Honeywell, with a share of 24%, can emerge as the leader in the Europe advanced CO2 sensors market.

Type-dependent market segments are chemical sensor, NDIR sensor, and others. NDIR is all set to take the leading position in the market, followed by chemical CO2 sensor. NDIR’s share in the Europe Advanced CO2 sensor market can account to roughly 83% during the evaluation period.

The main applications of advanced CO2 sensors are Industrial, Building Automation and Domestic Appliance, Environmental Petrochemical, Medical, Automotive, and others. Applications in automotive can increase favorably in the coming years, trailed by industrial, building automation, and others. Building automation together with domestic appliance can form a market share of roughly 22.43% by the end of the given timeframe.

Leading Contenders in Europe advanced CO₂ sensors

Leading Contenders in Europe advanced CO₂ sensors are Digital Control System Inc. (U.S.), Johnson Control (Ireland), Senseair AB (Sweden), Amphenol Corporation (U.S.), Sick AG (Germany), Gas Sensing Solution (U.K), Honeywell International Inc.(U.S.), Trane (Subsidary Of Ingresoll Land) (Ireland), Ati Airtest Technologies Inc. (U.S.), E+E Elektronik (Austria), Bluesens (Germany), Simens AG (Germany), Vertiss Industries (U.S.) and more.