Non-dispersive Infrared (NDIR) Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

According to MarketsandMarkets, the NDIR market is projected to grow from USD 0.7 billion in 2022 to USD 1.0 billion by 2027, at a CAGR of 6.0 % from 2022 to 2027. Major factors driving the growth of the NDIR market include the increasing demand for NDIR CO2 sensors in the food processing & storage industry and the high demand for gas sensors in critical industries

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Based on the gas type NDIR market has been segmented into carbon dioxide (CO2), carbon monoxide (CO), hydrocarbons, acetylene (C2H2), ethylene (C2H4), sulfur hexafluoride (SF6), refrigerant gases, anesthetic gases, volatile organic compounds, and other gases such as hydrogen sulfide (H2S), nitrogen oxide (NOx), and chlorine (Cl). Acetylene is expected to have the highest CAGR during the forecast period 2022-2027.
Acetylene, also known as ethyne, is a colorless and non-toxic gas with a slight garlic-like odor. The gas is lighter than air and does not accumulate at low levels where it could cause a potential hazard. Since it is lighter than air, acetylene is the only fuel gas recommended for underground operations. It's also the only fuel gas that can be used to weld steel. When it comes to cutting, oxy-acetylene has the quickest preheating and piercing times of any fuel gas.

Based on the application the NDIR market has been segmented into HVAC, monitoring, detection and analysis. The monitoring application held the largest share of the NDIR market in 2021. The increasing deployment of NDIR sensors and modules in different industries to monitor indoor and outdoor air quality and the rising need to curb the increasing pollution and global warming, hence supporting the growth of the NDIR market.

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NDIR sensors are deployed across numerous verticals including automotive & transportation, chemicals, oil & gas, medical, industrial & manufacturing, environmental, food processing & storage, and others (agriculture, greenhouse, and mining). The others segment which include agriculture, greenhouse, and mining is expected to capture the highest CAGR during the forecast period. The rising need to ensure the safety of workers, environment, and business infrastructure has led to increased demand for NDIR sensors and modules in the other segment. In 2021, the other segment held the largest share of the NDIR market.

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This release was published on openPR.