Dublin, Feb. 01, 2021 (GLOBE NEWSWIRE) -- The "Non-dispersive Infrared (NDIR) Market with COVID-19 Impact Analysis by Gas Type (Carbon dioxide, Hydrocarbons), Application (Monitoring, HVAC, Detection and Analysis), Vertical (Industrial & Manufacturing, Oil & Gas), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The NDIR market is projected to grow from USD 379 million in 2020 to USD 535 million by 2025, recording a CAGR of 7.2% between 2020 and 2025.
Major factors driving the growth of the NDIR market include increasing demand for NDIR CO2 sensors in the food processing & storage industry and growing focus on worker safety across industries.
"Based on gas type, hydrocarbons segment held the second-largest share of the NDIR market in 2019"
In 2019, hydrocarbons segment held the second-largest share of the NDIR market. The growth can be attributed to the rising demand for hydrocarbon sensors, which are highly accurate and offer fast response, essential to detect and monitor gas leaks in oil & gas and chemical industries. Moreover, government regulations to contain the spread of various hydrocarbons including methane, propane, and butane is also supporting the growth of market.
"Based on application, HVAC application held the second-largest market share in 2019"
The HVAC application held the second-largest share of the NDIR market in 2019 and is likely to exhibit a similar growth trend during the forecast period owing to the increasing adoption of HVAC systems in various end-use industries. The increase in pollution and growing use of HVAC systems across all industries and in residences is expected to boost the demand for NDIR sensors; hence, supporting the growth of the market in the future.
"Based on vertical, industrial & manufacturing segment held the major share of NDIR market."
The industrial & manufacturing segment held the major share of the NDIR market in 2019. The growing need to ensure the safety of workers, environment, and business infrastructure has led to the increased use of NDIR sensors in the industrial & manufacturing sector. Safety-related mandates in regions such as North America and Europe are also acting as drivers for the adoption of NDIR in the industrial & manufacturing sector.
Amphenol (US), Honeywell International Inc. (US), Senseair AB (Sweden), S+S Regeltechnik GmbH (Italy), Dynament (UK), MIPEX TECHNOLOGY (Russia), Gas Sensing Solutions (UK), Nano Environmental Technology S.r.l. (N.E.T.) (Italy), Zhengzhou Winsen Electronics Technology Co., Ltd. (China), and ELT Sensor Corp. (Korea) are some of the key players in the NDIR market.
Need to Contain Methane Leakage in Oil & Gas Industry
Increasing Demand for NDIR Co2 Sensors in Food Processing & Storage Industry
Growing Focus on Worker Safety Across Industries
Intense Pricing Pressure Resulting in Decreased Average Selling Price (ASP)
Rise in Demand for NDIR Sensors in Medical Industry
Development of Advanced Alcohol Sensors to Create Opportunities in Automotive & Transportation Industry
Need for High Product Differentiation and Innovation to Meet Unique End-User Requirements
Anticipated Shortage of Raw Material to Manufacture Sensors, and Supply Chain Disruption Due to COVID-19
Metal-Oxide-Semiconductor (Mos) Technology
Portable Gas Analyzer for Storage Control Systems Ltd. (Uk) by Gas Sensing Solutions (Us)
Low Power NDIR Co2 Sensor for Modified Atmosphere Packaging (Maf) by Edinburgh Instruments Ltd. (Uk)
Cubic Sensor and Instrument Co. Ltd.
Dragerwerk AG & Co. Kgaa
E+E Elektronik Ges.M.B.H
Elt Sensor Corp.
Emerson Electric Co.
Figaro Engineering Inc.
Gas Sensing Solutions
General Electric Company (Ge)
Honeywell International Inc.
NDIR Sensor and Module Manufacturers
Nano Environmental Technology S.R.L.
S+S Regeltechnik Gmbh
Sensor Module and End-Use Product Manufacturers
Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
Zhengzhou Winsen Electronics Technology Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/2lcwkr
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