LONDON--(BUSINESS WIRE)--The advanced carbon dioxide (CO2) sensors market is expected to grow by USD 56.95 million during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The global construction industry is witnessing significant investments in new construction projects across the world. For instance, the second phase of the Jubail II project in Saudi Arabia that began in 2014 with an estimated budget of USD 11 billion is expected to be completed by 2024. The project comprises of 100 industrial plants, desalination plants, railways, roads, highways, and an oil refinery. Similarly, the Dubailand project in Dubai with an estimated cost of USD 64 billion is expected to complete by 2025. Many such large construction projects across the world are increasing the demand for CO2 sensors, thereby driving the growth of the market.
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As per Technavio, the increase in institutional use of advanced CO2 sensors will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Advanced Carbon Dioxide (Co2) Sensors Market: Increase in Institutional Use of Advanced CO2 Sensors
CO2 sensors help maintain indoor air quality, save energy costs, and reduce CO2 levels in closed areas. Owing to such benefits, institutions such as schools, research laboratories, and government facilities are increasingly adopting CO2 sensors. Also, the use of advanced CO2 sensors ensures appropriate ventilation, which reduces absenteeism and improves student performance in schools. Moreover, with the emergence of smart homes, the adoption of CO2 sensors is expected to increase significantly during the forecast period.
“Increased demand for location-based advanced CO2 sensors and rapid urbanization will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Advanced Carbon Dioxide (CO2) Sensors Market: Segmentation Analysis
This market research report segments the Advanced Carbon Dioxide (CO2) Sensors Market by Fitting (Wall-mount and Retrofit), Product (NDIR and Chemical), and Geographic segmentation(North America, APAC, Europe, South America, and MEA).
The North America region led the advanced carbon dioxide (CO2) sensors market in 2019, followed by APAC, Europe, MEA, and South America. During the forecast period, the North America region is expected to register the highest incremental growth due to the increasing applications of advanced CO2 sensors.
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Some of the key topics covered in the report include:
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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