Carbon Dioxide Monitors Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The Carbon Dioxide (CO2) monitors market is estimated to grow at a CAGR of 6% from 2017 to 2024, reaching a size of $ 467.4 million in 2024. This growth rate reflects a robust CAGR of 7.6% over the forecast period. The increasing awareness of the public about the importance of air quality and its impact on health and the environment is driving the demand for CO2 monitors across residential, commercial, and industrial applications. A number of factors are contributing to this growth, including the advancement of sensors, the integration of IoT in monitoring devices, and the stringent regulatory framework to reduce carbon emissions. The leading players in this market, such as Aeroqual, Siemens, and Honeywell, are focusing on launching new products and entering into strategic collaborations to enhance their market share. For instance, the collaboration between technology companies and the environment has led to the development of more sophisticated monitoring systems that not only measure the level of carbon dioxide but also provide useful insights for improving the air quality. These technological advancements and strategic initiatives will play a crucial role in shaping the future of the CO2 monitors market.

Regional Market Size

Regional Deep Dive

CO2 Monitors Market is a growing market, which is driven by the growing awareness of the need to monitor the air quality and the rising need for air quality monitoring. North America is characterized by strict regulations on indoor air quality and emissions, while Europe is characterized by a focus on sustainable development and energy efficiency, which is leading to the development of new monitoring solutions. The Asia-Pacific region is characterized by rapid urbanization and industrialization, which increases the need for effective air quality management. The Middle East and Africa are starting to use CO2 monitors as part of their overall green initiatives, and Latin America is gradually realizing the importance of air quality monitoring in urban areas. Each region presents its own challenges and opportunities, which shape the market dynamics.

Europe

• The European Union's Green Deal aims to reduce greenhouse gas emissions, which has led to increased investments in CO2 monitoring technologies to support compliance and sustainability goals.
• Innovations in CO2 monitoring, such as the development of portable and low-cost sensors by companies like Senseair, are making it easier for consumers and businesses to monitor air quality.

Asia Pacific

• Rapid urbanization in countries like China and India is driving the demand for CO2 monitors, as cities seek to manage pollution levels and improve public health.
• Government initiatives, such as the Smart Cities Mission in India, are promoting the adoption of advanced air quality monitoring systems, including CO2 monitors, to enhance urban living conditions.

Latin America

• Brazil's National Policy on Climate Change is encouraging the adoption of CO2 monitoring technologies to track emissions and improve air quality in urban areas.
• Innovative projects, such as the use of CO2 monitors in schools and public buildings in Mexico City, are raising awareness about air quality issues and driving demand for monitoring solutions.

North America

• The U.S. Environmental Protection Agency (EPA) has implemented stricter regulations on indoor air quality, prompting businesses and institutions to invest in CO2 monitoring solutions to comply with these standards.
• Recent technological advancements, such as the integration of IoT capabilities in CO2 monitors, are being led by companies like Aeroqual and TSI Incorporated, enhancing real-time data collection and analysis.

Middle East And Africa

• Countries in the Gulf Cooperation Council (GCC) are investing in smart city projects that include air quality monitoring systems, with CO2 monitors being a critical component.
• The UAE's Vision 2021 emphasizes sustainability and environmental protection, leading to increased demand for CO2 monitoring solutions in both residential and commercial sectors.

Did You Know?

“Did you know that indoor air can be up to five times more polluted than outdoor air, making CO2 monitors essential for maintaining healthy environments?” — U.S. Environmental Protection Agency (EPA)

Segmental Market Size

The CO2 monitors segment plays a crucial role in monitoring the environment and indoor air quality and is currently experiencing stable growth. The main drivers are an increase in regulatory requirements for reducing greenhouse gas emissions and growing awareness of air quality, especially in urban areas. Furthermore, technological developments in the fields of sensors and connectivity are resulting in a rise in demand. CO2 monitors are currently in the deployment phase, with companies such as Aeroqual and Senseair supplying sophisticated monitoring solutions for both commercial and residential applications. The main use cases are in the HVAC systems of commercial buildings, schools and hospitals, where it is essential to maintain the correct level of CO2 for the occupants’ health. This trend is being accelerated by the drive towards greater energy efficiency and the implementation of regulations for improved air quality. In addition, the integration of CO2 monitors with IoT and the use of real-time data are reshaping the market and enhancing the experience for users.

Future Outlook

CO2 monitors are expected to grow significantly from 2024 to 2032, with a market value of approximately US$467.41 million to $840 million, indicating a CAGR of 7.6%. The increase in the demand for CO2 monitors is mainly due to the public's awareness of air quality and its direct impact on health and the tightening of regulations to reduce CO2 emissions. The number of monitors in the industrial, commercial and residential sectors is expected to rise sharply. The trend of technological development is also expected to play an important role in the future. CO2 monitors have been greatly improved in terms of accuracy, functionality and design. The development of sensors, big data analysis and the Internet of Things has made CO2 monitors more convenient and easy to use. The trend of smart buildings and the integration of building management and environment monitoring systems will also help to increase the penetration rate of CO2 monitors. By 2032, the penetration rate of CO2 monitors in commercial buildings will exceed 35% and that in residential buildings will exceed 20%. The importance of CO2 monitors in improving indoor air quality and contributing to the development of green buildings has become increasingly obvious.