Non-dispersive Infrared (NDIR) Market Set to Reach $965 Million by 2029 with a CAGR of 7.2%

The global NDIR market is expected to be valued at 681 million in 2024 and is projected to reach USD 965 million by 2029; it is expected to grow at a CAGR of 7.2% from 2024 to 2029. The market's growth is propelled by increasing demand for NDIR CO2 sensors in the food processing & storage industry. However, challenges related to competition from alternative technologies still need to be addressed. Despite these obstacles, opportunities arise, and demand for NDIR sensors is rising in the medical industry.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=90187624

Carbon dioxide sensors by gas type have experienced rapid growth in the NDIR market due to their impact on the climate. By providing industries with a quicker and more convenient way of understanding their emissions, Co2 sensors help reduce emissions. Additionally, these sensors help follow governmental regulations, labor laws, etc. As general awareness about CO2 emissions increases, the demand for such sensors is expected to increase.

The growth of Detection & Anlaysis by application type in the NDIR is expected to be high during the forecast period. In industrial safety monitoring, it's crucial to continuously monitor carbon dioxide and methane levels in real-time to prevent dangerous gas concentrations. Sensors play a vital role in detecting potential gas leaks early on, particularly in industrial manufacturing, oil and gas, chemicals, and healthcare sectors. By providing early warnings, these sensors enable prompt actions to safeguard lives and assets. The NDIR market segment focuses on detection and analysis and is subdivided into hazardous gas detection, flame detection, alcohol detection, and blood gas analysis, catering to various industrial safety needs.

The Industrial and Manufacturing segment is anticipated to witness the second-highest CAGR in the NDIR market by vertical. The increasing emphasis on workplace safety and regulatory compliance is driving the demand for accurate gas detection solutions. Expansion of industrial activities across diverse sectors necessitates robust monitoring systems to mitigate environmental risks and ensure operational efficiency. Technological advancements in NDIR sensor capabilities, including improved sensitivity and reliability, further contribute to their adoption in industrial applications for precise and continuous gas detection.

The North American region is expected to hold the second-highest market share in the NDIR market due to several key factors. The region's advanced industrial infrastructure and extensive adoption of gas detection technologies, particularly in sectors such as oil & gas, automotive, and healthcare, further drive market growth. Ongoing investments in research and development, coupled with technological innovation, position North American manufacturers as crucial players in the NDIR market, contributing to their presence in the industry.

Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=90187624

Major players operating in the NDIR market are Honeywell International Inc. (US), Yokogawa Electric Corporation (Japan), MSA (US), and Amphenol Corporation (US).

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.