Carbon Monoxide (CO) Detector Market 2020: Opportunity, Trends, Share, Top Companies Analysis and Growth Forecast 2027

Carbon Monoxide (CO) Detectors: Introduction

A carbon monoxide detector (or, CO detector) is a device that detects presence of the carbon monoxide (CO) gas so as to prevent poisoning. Manufacturers have recently changed the definition of a single-station CO detector with a sound device to a carbon monoxide (CO) alarm.
Carbon monoxide (CO) is a colorless, tasteless, and odorless gas produced due to incomplete combustion of carbon containing materials. It is often referred to as a ‘silent killer,’ as it is virtually undetectable by humans. Hence, leakage detectors are required to detect its presence.
CO detectors are designed to measure CO levels over the time and to sound an alarm before dangerous levels of CO accumulate in the environment. Sounding of alarm gives people adequate warning to safely ventilate the area or evacuate.

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Demand from Commercial and Residential End-Users to Offer Lucrative Opportunities

Carbon monoxide is the second-most common cause of deaths due to non-medicinal poisoning. According to the CDC (Centers for Disease Control and Prevention), over 10,000 individuals are poisoned by carbon monoxide and require medical treatment every year and more than 438 people in the U.S. die due to carbon monoxide poisoning every year.
Leakage of CO or increase in the level of CO can affect commercial and residential end-users including individual consumers, commercial buildings, public premises, health care organizations, and educational institutions. Increasing number of accidents and rising requirement for safety of people have resulted in the increased demand for CO alarms.
Home appliances such as geysers, dryers, and refrigerators and areas that lack proper aeration, such as garages and service centers, are major and common sources of carbon monoxide. Since CO is odorless and colorless, the risk of affecting individuals is high. Thus, the need for CO detectors has been increasing from residential and commercial end-users.

Government Awareness about and Adherence to Carbon Monoxide Protection Safety Standards

Due to the increasing prevalence of illnesses and deaths caused by high levels of carbon monoxide (CO) in homes and buildings, state legislatures in the U.S. have decided to adopt laws authorizing the use of carbon monoxide detectors
The mandate varies from every enclosed room being required to have detectors, to every room that has a smoke alarm to have a detector, with only day-care centers and group homes needing detectors. For instance, since March 2018, a majority of states in the U.S. have enacted statutes regarding carbon monoxide (CO) detectors and the others have promulgated regulations on CO detectors.
Carbon monoxide is a hazardous gas that affects the brain and the blood circulation system. Different safety standards for CO detectors exist, which include CO alarms as well. Various other local, regional, and national safety authorities are also promoting the use of CO detectors.

Asia Pacific to Lead Global Carbon Monoxide (CO) Detector Market

In terms of region, the global carbon monoxide (CO) detector market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
The carbon monoxide (CO) detector market in Asia Pacific is anticipated to expand at the maximum CAGR during the forecast period. This growth can be attributed to increase in population, industrialization, and the large number of manufacturers.
The carbon monoxide (CO) detector market in North America and Europe is likely to witness stagnant growth in the next few years

Key Players in Global Market

The global carbon monoxide (CO) detector market was highly fragmented in 2018. Prominent players operating in the global market are focusing on technological advancements and expansions to meet the rising demand for carbon monoxide (CO) detectors. Moreover, manufacturers are entering into partnerships for the development of innovative products and gain higher market share.

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Key players operating in the global carbon monoxide (CO) detector market are:

ABB Ltd
Aeroqual Ltd
Alphasense
Dynament Ltd
GfG Europe Ltd
NGK Insulators Ltd
Robert Bosch GmbH
Siemens AG
Trolex Ltd
Yokogawa Electric Corporation

Global Carbon Monoxide (CO) Detector Market: Research Scope

Global Carbon Monoxide (CO) Detector Market, by Type

Semiconductor Sensor
Electrochemical Sensor
Solid-state/MOS Sensor
PID
Catalytic
Infrared

Global Carbon Monoxide (CO) Detector Market, by Application

Medical
Petrochemical
Building Automation
Industrial
Environmental
Automotive
Others

Global Carbon Monoxide (CO) Detector Market, by Region

North America

U.S.
Canada

Europe

Germany
France
U.K.
Italy
Spain
Russia & CIS
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

South America

Brazil
Mexico
Rest of South America

Middle East & Africa

GCC
South Africa
Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

Customer Experience Maps
Insights and Tools based on data-driven research
Actionable Results to meet all the business priorities
Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

North America
Asia Pacific
Europe
Latin America
The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?