Carbon Monoxide Detectors Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Sensor Type (Biomimetic, Electrochemical, Semiconductor), By Application (Fuel Fired Furnaces, Gas Water Heaters, Charcoal Grills, Others), By End-Use Industry (Medical, Automotive, Petrochemical, Residential, Industrial, Others), And By Geography - Forecasts From 2022 To 2027
- Published : Dec 2022
- Report Code : KSI061610607
- Pages : 141
The carbon monoxide detectors market is expected to grow at a compound annual growth rate of 3.89% over the forecast period to reach a value of US$619.120 million in 2027, from US$473.959 million in 2020.
Carbon monoxide detectors are devices that recognize the presence of carbon monoxide in an interior environment and assist safeguard against carbon monoxide poisoning. Increasing manufacturing with industrial activity and high carbon monoxide emissions are the primary reasons driving the market development of carbon monoxide detectors. One of the primary elements driving market expansion is stringent government restrictions. Furthermore, because of the high number of carbon monoxide poisoning cases, governments in numerous different states and countries around the world have enforced the installation of carbon monoxide detectors, which is expected to be one of the major factors driving the growth of carbon monoxide alarms and detectors during the forecast period.
The carbon monoxide detectors market is expanding due to the increased number of initiatives taken by governments all over the globe such as launching campaigns and releasing new policy which has contributed to the awareness and sales of the carbon monoxide detectors market. For instance, the Detroit Fire Department initiated "Operation Save a Life" in April 2022, during which DFD members distributed free carbon monoxide monitors and smoke alarms for individuals in the Martin Park area of District 2. At the Detroit Public Safety Headquarters, any city residents with a Detroit resident ID were able to pick up detectors for carbon monoxide and smoke alarms.
Similarly, in 2022, the Scottish Government issued a new rule requiring every home in Scotland to have a heat alarm in the kitchen, with carbon monoxide detectors necessary if the property contains a fire, stove, or other sources of heat. According to the Scottish Government, the average cost of installing the alarms is roughly £220 per property.
Additionally, the New York City Department of Housing Preservation and Development and the New York City Fire Department launched a citywide fire safety campaign titled "Keeping Homes Fire Safe" in May 2022, with the goal of educating New Yorkers on six essential fire safety guidelines for residents and property owners. At the event, FDNY and HPD outreach personnel distributed updated fire safety brochures and educated New Yorkers about the need for self-closing doors and smoke alarms, among other vital fire safety precautions. They provided free smoke alarm installations to households through the Sound the Alarm Program, a partnership endeavor between the FDNY Foundation, the FDNY, and the American Red Cross that installs free smoke and carbon monoxide detectors in New Yorkers' homes.
Furthermore, there has been a significant increase in industrial activities all over the world that has led to the rising emissions of carbon monoxide. Due to this reason, the market for carbon monoxide detectors is anticipated to increase during the projected period. For instance, according to the U.S. Census Bureau's 2020 Annual Survey of Manufactures and the Federal Reserve's report "Industrial Production and Capacity Utilization: The 2022 Annual Revision," capacity utilisation for the entire industry stood at 78.8 per cent in the fourth quarter of 2021, about 2-1/2 percentage points higher than its previous estimate. Additionally, due to the low-base impact, India's industrial production increased by 13.6% in the June 2020 period, according to figures issued by the Ministry of Statistics and Programme Implementation. Therefore, all these factors are one of the primary reasons for contributing to the carbon monoxide market positively in the coming years.
Carbon monoxide leakage or an increase in carbon monoxide levels can have an impact on end-users such as individual consumers, industrial facilities, public buildings, healthcare organizations, and educational institutions. They are in high demand due to an increase in the number of accidents and a greater concern for people's safety. Furthermore, increased awareness about the dangers of carbon monoxide poisoning in such industries has increased demand for carbon monoxide detectors, which is expected to drive market growth throughout the forecast period.
- November 2020: the Department for Levelling Up, Housing and Communities (DLUHC) revealed intentions to impose new legislation requiring smoke and carbon monoxide alarms in social leased dwellings. This declaration follows plans in the Social Housing White Paper for broad regulatory changes, including the initiation of a consultation to expand standards for smoke and carbon monoxide detectors in social housing.
- November 2021: Parker Gregg and Cayden Wright of Central High School received a patent
for their invention, Air Alert, which can disable a vehicle if dangerous levels of carbon monoxide are reached. The device can be installed anywhere in a vehicle as long as wires are connected to whatever needs to be controlled, such as the engine control unit or fuel pump.
Carbon Monoxide Detectors Market Scope:
|Market Size Value in 2020||US$473.959 million|
|Market Size Value in 2027||US$619.120 million|
|Growth Rate||CAGR of 3.89% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments Covered||Sensor Type, Application, End-User Industry, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||ABB Ltd, Nest Labs, BRK Brands Inc., United Technologies, Yondwin Enterprise Co. Ltd., Leeo, Inc., X-SENSE, Safelincs Ltd, MTI Industries, Inc., Aeroqual Ltd, Robert Bosch GmbH, Siemens AG, Yokogawa Electric Corporation, Alphasense|
|Customization Scope||Free report customization with purchase|
- By Sensor Type
- By Application
- Fuel Fired Furnaces
- Gas Water Heaters
- Charcoal Grills
- By End-User Industry
- By Geography
- North America
- United States
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. CARBON MONOXIDE DETECTORS MARKET BY SENSOR TYPE
6. CARBON MONOXIDE DETECTORS MARKET BY APPLICATION
6.2. Fuel Fired Furnaces
6.3. Gas Water Heaters
6.4. Charcoal Grills
7. CARBON MONOXIDE DETECTORS MARKET BY END-USER INDUSTRY
8. CARBON MONOXIDE DETECTORS MARKET BY GEOGRAPHY
8.1. Introduction Introduction
8.2. North America
8.2.1. United States
8.3. South America
8.4.1. United Kingdom
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. ABB Ltd
10.2. Nest Labs
10.3. BRK Brands Inc.
10.4. United Technologies
10.5. Yondwin Enterprise Co. Ltd.
10.6. Leeo, Inc.
10.8. Safelincs Ltd
10.9. MTI Industries, Inc.
10.10. Aeroqual Ltd
10.11. Robert Bosch GmbH
10.12. Siemens AG
10.13. Yokogawa Electric Corporation
BRK Brands Inc.
Yondwin Enterprise Co. Ltd.
MTI Industries, Inc.
Robert Bosch GmbH
Yokogawa Electric Corporation
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