Carbon Monoxide Detectors Market Size, Share, Opportunities, And Trends By Sensor Type (Opto-Chemical, Biomimetic, Electrochemical, Semiconductor), By Application (Fuel Fired Furnaces, Gas Water Heaters, Charcoal Grills, Others), By End-Use Industry (Medical, Automotive, Petrochemical, Building Automation, Industrial, Environmental, Others), And By Geography - Forecasts From 2021 To 2026

Published:  May 2021 Report Code: KSI061610607 Pages: 106

The carbon monoxide detectors market is evaluated at US$504.856 million for the year 2019 and is projected to grow at a CAGR of 4.21% to reach the market size of US$673.626 million by the year 2026.

Carbon monoxide detectors refer to devices used to detect the presence of carbon monoxide in an indoor setting and hence helps protect from carbon monoxide poisoning. There is increased awareness regarding the hazards related to carbon monoxide poisoning which has surged the demand for carbon monoxide detectors and is anticipated to propel the growth of the carbon monoxide detectors market during the forecast period. Also, the incidences of carbon monoxide poisoning have been on the rise around the world which is expected to increase the usage of carbon monoxide detectors. Furthermore, governments of various countries and states around the world have been increasingly passing regulations to make the installation of carbon monoxide detectors mandatory which is another factor that is anticipated to bolster the growth of the carbon monoxide market during the forecast period.

carbon monoxide detectors market

The recent outbreak of the novel coronavirus disease had a negative impact on the carbon monoxide detectors market. Due to the lockdown and trade restrictions implemented in various parts of the world, the supply chain of the carbon monoxide detectors market was hit which led to a decline in the carbon monoxide market in the year 2020. The factories were shut down due to strict Covid-19 measures and even where the factories were open, there was a shortage of laborers, which hit the carbon monoxide detectors market negatively. But the market is expected to recover and come to its normal pace from the year 2022 onwards.

The carbon monoxide detectors market has been classified on the basis of sensor type, application, end-use industry, and geography. By sensor type, the market has been classified on the basis of Opto-Chemical, Biomimetic, Electrochemical, and Semiconductor. On the basis of application, the segmentation has been done into Fuel Fired Furnaces, Gas Water Heaters, Charcoal Grills, and others. By end-use industry, the market has been categorized into Medical, Automotive, Petrochemical, Building Automation, Industrial, Environmental, and others. Geographically, the market for carbon monoxide detectors has been distributed into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Rise in carbon monoxide poisoning cases in some areas and increased awareness

One of the key factors supplementing the carbon monoxide detectors market growth is the increase in the number of cases of poisoning related to carbon monoxide reported in many areas. The campaign group Project SHOUT in the United Kingdom has reported an increase in the cases of carbon monoxide poisoning in recent years. A report by the campaign group stated that carbon monoxide poisoning incidences have risen by a third over the last five years.

The UK Fire and Rescue Service (FRS), which is one of the first emergency services that comes to action in the UK when there’s a case of carbon monoxide leak, showed in its data that the cases of carbon monoxide poisoning have increased continuously from 2450 cases in 2014 to 3249 in 2019. This increase in the cases has increased the importance of carbon monoxide detectors which is anticipated to bolster the demand for carbon monoxide detectors during the forecast period. According to CDC, United States reports more than 430 cases of deaths related to carbon monoxide poisoning every year. Also, owing to accidental carbon monoxide poisoning, more than 50 thousand people have to visit the emergency department every year in the country.

According to the article “Worldwide epidemiology of carbon monoxide poisoning” published in the National Library of Medicine, NIH, the carbon monoxide poisoning cases are estimated at 137 cases per million whereas the deaths are estimated to be 4.6 per million. Although the percentage of patients that have died have declined since last 25 years due to better treatment and improved medical facilities, the increased awareness regarding carbon monoxide poisoning has led to a rise in the adoption of carbon monoxide detectors and is anticipated to surge the growth of carbon monoxide detectors market during the forecast period.

Government regulations for installing carbon monoxide detectors

Due to a large number of incidences of carbon monoxide poisoning cases, governments of various countries and states around the world have mandated the installation of carbon monoxide detectors, which is anticipated to be one of the prominent factors bolstering the growth of carbon monoxide detectors during the forecast period. In December 2020, Congress passed a bill in the United States which makes it necessary to install carbon monoxide detectors in federally subsidized housing. The National Fire Code of Canada has made it legally mandatory to install working smoke alarms on every level of the home and outside all sleeping areas in Yukon in Canada.

The National Building Code of Canada makes it necessary for the buildings built after 2009 to install carbon monoxide detectors, but recently in January 2021, the Mayor of Regna city stated that it is looking forward to making it mandatory to install carbon monoxide detectors in the city. In UK, Smoke and Carbon Monoxide Alarm (England) Regulations 2015 was passed which made it necessary for the landlords in the private sector to install a carbon monoxide alarm in any room containing a solid fuel-burning appliance with effect from 1 October 2015. There are many such mandates for the installation of carbon monoxide detectors in various countries and governments of other countries are now looking forward to mandating the installation, owing to the rising awareness of the hazards of carbon monoxide, which is anticipated to surge the growth of carbon monoxide detectors in the coming years.

North America to hold a significant market share

Geographically, the North American region is anticipated to hold a significant market share owing to the government regulations for installing carbon monoxide detectors in the region. Furthermore, the Asia Pacific region is anticipated to witness substantial growth due to the rise in industrialization which has increased the demand for carbon monoxide detectors in the region.

carbon monoxide detectors market

Competitive Insights

Prominent/major key market players in the carbon monoxide detectors market include ABB Ltd, Nest Labs, BRK Brands Inc., among others. The players in the carbon monoxide detectors market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the carbon monoxide detectors market.

Carbon Monoxide Detectors Market Scope:

Report Metric Details
 Market size value in 2019  US$504.856 million
 Market size value in 2026  US$673.626 million
 Growth Rate  CAGR of 4.21% from 2019 to 2026
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Million
 Segments covered  Sensor Type, Application, End-Use 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

 

Segmentation

  • By Sensor Type
    • Opto-Chemical
    • Biomimetic
    • Electrochemical
    • Semiconductor
  • By Application
    • Fuel Fired Furnaces
    • Gas Water Heaters
    • Charcoal Grills
    • Others
  • By End-Use Industry
    • Medical
    • Automotive
    • Petrochemical
    • Building Automation
    • Industrial
    • Environmental
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • UK
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Others
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the carbon monoxide detectors market size by 2026?
A1. The global carbon monoxide detectors market is projected to reach a market size of US$673.626 million by the year 2026.


Q2. What is the size of the carbon monoxide detectors market?
A2. Carbon Monoxide Detectors Market was valued at US$504.856 million in 2019.


Q3. What are the growth prospects for the carbon monoxide detectors market?
A3. The carbon monoxide detectors market is projected to grow at a CAGR of 4.21% during the forecast period.


Q4. Which region holds the maximum market share of the carbon monoxide detectors market?
A4. Geographically, the North American region is anticipated to hold a significant share of the carbon monoxide detectors market owing to the government regulations for installing carbon monoxide detectors in the region.


Q5. What factors are anticipated to drive the carbon monoxide detectors market growth?
A5. One of the key factors supplementing the carbon monoxide detectors market growth is the increase in the number of cases of poisoning related to carbon monoxide reported in many areas.

1. Introduction
1.1. Market Definition
1.2. Market Segmentation


2. Research Methodology
2.1. Research Data
2.2. Assumptions


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 End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. 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 Analysis, by Sensor Type
5.1. Introduction
5.2. Opto-Chemical
5.3. Biomimetic
5.4. Electrochemical
5.5. Semiconductor


6. Carbon Monoxide Detectors Market Analysis, by Application
6.1. Introduction
6.2. Fuel Fired Furnaces
6.3. Gas Water Heaters
6.4. Charcoal Grills
6.5. Others


7. Carbon Monoxide Detectors Market Analysis, by End-Use Industry
7.1. Introduction
7.2. Medical
7.3. Automotive
7.4. Petrochemical
7.5. Building Automation
7.6. Industrial
7.7. Environmental
7.8. Others


8. Carbon Monoxide Detectors Market Analysis, by Geography
8.1. Introduction
8.2. North America
8.2.1. USA
8.2.2. Canada
8.2.3. Mexico
8.3. South America
8.3.1. Brazil
8.3.2. Argentina
8.3.3. Others
8.4. Europe
8.4.1. Germany
8.4.2. France
8.4.3. UK
8.4.4. Others
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.5.2. UAE
8.5.3. Others
8.6. Asia Pacific
8.6.1. China
8.6.2. India
8.6.3. Japan
8.6.4. South Korea
8.6.5. Taiwan
8.6.6. Thailand
8.6.7. Indonesia
8.6.8. Others


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.
10.7. X-SENSE
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
10.14. Alphasense

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

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