Nov 4, 2022   SOURCE: BusinessWire

The Worldwide Non-dispersive Infrared (NDIR) Industry is Expected to Reach $1 Billion by 2027 - ResearchAndMarkets.com

The "Non-dispersive Infrared (NDIR) Market by Gas Type (Carbon dioxide, hydrocarbons,others), Application (Monitoring, HVAC, Detection and Analysis), Vertical (Industrial & Manufacturing, Oil & Gas) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The NDIR market is projected to grow from USD 0.7 billion in 2022 to USD 1.0 billion by 2027, recording a CAGR of 6.0% between 2022 and 2027.

Growing focus on worker safety across industries to drive the growth of the NDIR market

Worker safety is of paramount importance in any industry. Mining, medical, industrial & manufacturing, chemicals, fertilizers, and oil & gas workers often work in hazardous environments. In the extraction and refining processes of the oil and gas and chemical industries, toxic gases such as carbon dioxide, carbon monoxide, hydrocarbons, and sulfur hexafluoride are generated. If inhaled in excess amounts, these gases can have major health repercussions, including death in extreme cases. In the workplace, high concentrations of hazardous and flammable gases can lead to explosions or fires.

NDIR sensors and modules are suitable for detecting toxic gases in these industries. They contribute to the reduction of hazardous gas leaks as well as worker and workplace safety. Thus, the increasing focus of regulatory agencies on workplace safety is expected to spur the demand for NDIR sensors and modules, which will boost the market growth.

APAC is the fastest-growing region in the NDIR market

During the forecast period, APAC held the largest share of the NDIR market and is expected to continue to grow. Increased demand for NDIR sensors in the industrial & manufacturing, medical, automotive, environmental, and food processing & storage sectors is driving the market in APAC. T

he NDIR market has been growing as a result of an increase in the number of small and medium-sized businesses (SMEs) investing in the development of loT-based NDIR sensors for a variety of applications. Since China, Japan, India, and South Korea are among the world's top 20 automotive-producing countries, the NDIR industry in this region has a lot of opportunities to grow.

In APAC, automobile manufacturers like Nissan, Mitsubishi, and Subaru are focusing more on hybrid and electric automobile development, which is expected to increase the use of NDIR CO2, CO, and refrigerant gas sensors for cabin air quality monitoring.

Market Dynamics

Drivers

  • 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
  • High Demand for Gas Sensors in Critical Industries

Restraints

  • Intense Pricing Pressure Resulting in Decreased Average Selling Price (ASP)
  • Time-Consuming Sensor Development Process

Opportunities

  • Rising Demand for NDIR Sensors in Medical Industry
  • Need for Advanced Alcohol Sensors in Automotive & Transportation Industry
  • Growing Adoption of Gas Sensors in Consumer Electronics

Challenges

  • Need for Product Differentiation to Meet Unique End-User Requirements
  • Shortage of Raw Material and Supply Chain Disruption Due to COVID-19

Companies Mentioned

  • Alphasense
  • Amphenol
  • Analox Group
  • Bacharach
  • Cubic Sensor and Instrument
  • Dragerwerk AG & Co Kgaa
  • Dynament
  • E+E Elektronik
  • Edinburgh Sensors
  • Elichens
  • Elt Sensor Corp
  • Emerson Electric
  • Figaro Engineering
  • Fuji Electric
  • Gas Sensing Solutions
  • Honeywell
  • Hubei Cubic-Ruiyi Instrument
  • Mipex Technology
  • Nano Environmental Technology
  • S+S Regeltechnik
  • Senseair Ab
  • Sensirion Ag
  • Shenzhen Mindray Bio-Medical Electronics
  • Smartgas Mikrosensorik
  • Yokogawa Electric
  • Zhengzhou Winsen Electronics Technology

For more information about this report visit https://www.researchandmarkets.com/r/d12yey