The Global Carbon Monoxide Detector market is predicted to grow at a Compound Annual Growth Rate (CAGR) of 4.21% from the market size of 504.856 million in 2019 to reach the market size of US$673.626 million in the year 2026.
A carbon monoxide detector is a gadget or device that detects the presence of carbon monoxide gas in the environment to forestall its harming. It is intended to gauge levels of carbon monoxide in a climate over a long period and to indicate when the level arrives at the basic level. As the colorless and odorless feature of Carbon monoxide, it is necessary to detect its risen level. Carbon monoxide gas is also named a “silent killer” and cannot be detected by naked eyes or by mere smell, therefore its increased level in any area that is dangerous and should be detected. This is the prime reason for the increasing demand for carbon monoxide detectors or gas sensors. Additionally, the increase in technical developments and rising use of gas sensors in HVAC systems which are the air quality monitors is another key factor to increase in the demand for the carbon monoxide detector. The carbon monoxide detector emits a sound when the level of carbon monoxide exide a certain level which is dangerous for the life in that area. This gadget also includes a perused LED which displays the toxic gas level.
The Automotive Sector Is Expected to Provide Great Potential to the Carbon Monoxide Detector or Gas Sensor Market in the Forecast Period
Recently many incidents have been encountered where people died due to carbon monoxide poisoning in cars or vehicles. For instance, recently that is on October 24, 2021, two teens were found dead in the car. The incident took place in North Caroline. Later in November after the autopsy, the cause of death was reviled which is found to be the release of carbon monoxide in the car. Whereas in February 2021, four people were hospitalized due to the carbon monoxide release in the car in Texas. Among them, two died due to carbon monoxide poisoning. Many more such incidences took place worldwide. This surges a need for carbon monoxide gas sensors in cars. Due to the closed vehicles, the poisoning takes place rapidly, the detection of carbon monoxide is what is given a priority. Thus, the customers have started giving preference to the cars or vehicles which have a Carbon Monoxide detector. To meet consumers’ demand for CO gas sensors, many automotive companies started providing CO detectors in their cars. This is the reason why the automotive industry is estimated to hold a significant market share in the forecast period.
Requirement of Carbon Monoxide Detector in Resident Places
Along with the cars, other areas which lack the appropriate aeration also tend to face the leakage of Carbon Monoxide gas as they are the common sources of this gas. These areas include garages, service centres, pharma industries, and many more. Other than this, the home appliances as well can ask as the sources of carbon monoxide gas. The appliances such as dryers, refrigerators, geysers, generators, and irons. Therefore, the danger of the release of this gas is also present in the homes. Recently in December 2021, the couple in Washington was found dead in their resident home due to inhalation of Carbon Monoxide Gas.
Due to such incidences, the government of developed countries put forth various regulations to ensure safety in nearly all sectors focusing on the workplace. This is one of the prime factors that led to an increase in the growth in the carbon monoxide detector market. Moreover, various modifications in the design of the carbon monoxide sensor with advanced innovations such as CO detectors in small size, have made it easy and flexible to carry. Wherein in industries, there requires a wireless gadget to record the data and to carry a two-way communication. Some types of detectors can detect the presence of carbon monoxide and smoke as well. These devices are the combinations of two distinct technologies which detect fire and odorless and colorless gas. The benefit of such a device is that it takes the space of two different devices. Such a device also signals different warning alarms for smoke and carbon monoxide. These devices are majorly preferred by the consumers who stay in places with small areas and limited ceiling space.
Factors That Harm the Carbon Monoxide Detector Market
Like every gadget, carbon monoxide detector too has some limitations which play as obstacles in the growth of its market. As these detectors work entirely on electrical power, thus if not charged or repaired battery system, these detectors would not signal a warning alarm. Thus, charging on regular basis is required to make a carbon monoxide detector work properly. Moreover, the sound of the warning signal does not ensure to alarm a sleeping individual, a person with illness or disability, or even the drug/substance consumed individual. At the same time, the gadget detects the presence of the carbon monoxide gas only when present nearby; as the carbon monoxide molecules sometimes do not reach up to the sensing chamber of the detector. Therefore, the average radius area around the detector also matters concerning the sensitivity of a device. Being a gadget, it is also subjected to a false alarm. According to a report by National Fire Protection Association Standard 720, if the carbon monoxide detector is placed near a fuel-burning appliance, it may give a false alarm even during a normal operation. Whereas certain environments also affect the performance of carbon monoxide detectors. For instance, high air velocity environments which are dusty need to be maintained more frequently.
North America Is Projected to Hold a Significant Market Share Over the Forecast Period
According to the United States Fire Administration, around 150 people per year in the USA die due to carbon monoxide poisoning. As in winter, the Americans use fuel-burning appliances such as mini heaters more frequently, the necessity of carbon monoxide detector as a home appliance to ensure safety. In Canada, as per the Ontario Association of Fire Chiefs, around 50 people per year die due to the inhalation of carbon monoxide gas. Thus, the demand for carbon monoxide detectors in these countries is high. Hence, the carbon monoxide detector market in North America is expected to dominate the global carbon monoxide detector market in the forecast period.
The COVID-19 Pandemic Analysis
Due to the outbreak of the Coronavirus worldwide, the production rate in many industrial sectors slowed down. The pandemic has affected the manufacturing rate of the carbon monoxide detector market as well. Due to the force shut down for a noticeable period, the production rate got slow. However, due to increase in the death caused because of carbon monoxide during the same period, the demand for carbon monoxide detectors is rising in the automotive and household appliance industries. Due to the need for quarantine, the requirement for a carbon monoxide detector is rising. Therefore, after the Covid-19 crisis, the market is estimated to grow.