Carbon Monoxide Detector Market to Reach Valuation of USD 800.6 Million by 2028 - Increasing Focus on Safety to Boost Adoption of Carbon Monoxide Detector Across the World

Vantage Market Research

May 21, 2022

From the period of 2022 to 2028, the Global Carbon Monoxide Detector Market is expected to reach USD 800.6 Million in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 4.1%.

Carbon Monoxide Detector are devices that enable the detection of carbon monoxide in the environment and these devices are expected to see high demand over the coming years as the focus on harmful gas detection increases across the world. Increasing demand for better safety infrastructure in multiple end use industries is anticipated to boost sales of Carbon Monoxide Detector in multiple economies. Increasing industrialization is also anticipated to boost the Carbon Monoxide Detector market potential over the forecast period. Miniaturization of devices will also provide new opportunities for Carbon Monoxide Detector vendors through 2028.

Key Highlights from the Report

  • On the basis of Type, the market is segmented into Semiconductor Sensor, Electrochemical Sensor, Solid-state/MOS Sensor, PID, Catalytic, and Infrared. In 2021, the semiconductor sensors segment is anticipated to hold a dominant outlook over the forecast period. The Carbon Monoxide Detector market will also see high demand for other types as advancements in technology pace over the forecast period.

  • On the basis of Application, the market is segmented into Medical, Petrochemical, Building Automation, Industrial, Environmental, Automotive, and Others. The industrial and automotive sectors are projected to lead the Global Carbon Monoxide Detector market potential through 2028. Increasing demand for safety and strict safety mandates issued by governments are projected to bolster Carbon Monoxide Detector market growth in the coming years.

  • Asia Pacific is anticipated to see a rapid increase in demand for Carbon Monoxide Detector over the forecast period. Increasing industrialization and a rising number of Carbon Monoxide Detector manufacturers in this region are expected to be prominent trends influencing Carbon Monoxide Detector to demand over the forecast period. India and China are anticipated to be the most notable markets in this region owing to rising investments in industrialization and the presence of key Carbon Monoxide Detector manufacturers. Supportive initiatives to boost industrial activities will also open new opportunities for Carbon Monoxide Detector suppliers in India and China across the forecast period.

Market Dynamics:

Increasing Focus on Safety.

Deaths related to carbon monoxide poisoning have increased over the past few years and this trend is projected to increase demand for Carbon Monoxide Detector in the coming years. Increasing investments in enabling better detection of carbon monoxide are also expected to favor Carbon Monoxide Detector market potential. Increasing use of Carbon Monoxide Detector in residential and home settings will also favor Carbon Monoxide Detector market potential.

Increasing Investments from Government

Governments across the world are increasing investments in developing a better safety oriented infrastructure to ensure the safety of the general population and workers in multiple industries. Supportive initiatives will also incentivize Carbon Monoxide Detector manufacturers and enable them to boost their sales and revenue generation potential over the coming years.

The Global Carbon Monoxide Detector market is anticipated to be dominated by North America owing to the presence of key Carbon Monoxide Detector vendors and the increasing use of Carbon Monoxide Detector in multiple end use industries. High technological proliferation, stringent government mandates, and increasing investments in safety infrastructure are other factors that will influence Carbon Monoxide Detector market growth in this region. The United States is projected to be the most prominent market in this region and will be driven by an increasing focus on safety in this region. Stringent mandates to regulate safety are also expected to favor Carbon Monoxide Detector market growth in this nation. The market for Carbon Monoxide Detector in North America accounted for a market share of 34.1% in the global market landscape in 2021. The market in this region accounted for a revenue total of US$ 214.5 million in 2021.