NEWARK, Del, Sept. 22, 2023 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the global VOC sensors and monitors market value will reach around US$ 176.3 million in 2023. From 2023 to 2033, global sales of VOC sensors and monitors will soar at 7.6% CAGR. By 2033, the market is anticipated to reach US$ 366.0 million.
Demand for VOC monitors is expected to remain high due to their rising usage across several sectors for monitoring volatile organic compound emissions. The target segment is anticipated to accelerate at a CAGR of 6.5% from 2023 to 2033.
Rising concerns about environmental pollution and enforcement of stringent emission regulations by governments are key factors expected to drive the global market forward. Similarly, increasing focus on improving workplace safety, especially in accident-prone sectors such as oil & gas will create a high demand for VOC sensors and monitors.
VOC sensors and monitors are devices used for monitoring and measuring the concentrations of harmful gasses. They have become ideal tools for environmental monitoring throughout the world. Growing usage of VOC sensors and monitors in environmental monitoring and air monitoring applications is expected to boost the target market during the assessment period.
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Increasing awareness of indoor and outdoor air quality and rising demand for accurate & cost-effective air monitoring tools will bolster VOC sensor and monitor sales during the assessment period.
Another key factor propelling demand for VOC sensors and monitors is their application in industrial process monitoring.
To expand their customer base and improve revenues, leading VOC sensor and monitor manufacturers are concentrating on developing low-cost products. They are launching novel air monitoring and measuring solutions to meet rising end user demand
Key Takeaways from the VOC Sensors and Monitors Market Report
- Based on device type, monitors segment is likely to thrive at 6.5% CAGR through 2033.
- By application, environmental monitoring segment is poised to exhibit a CAGR of 6.4% from 2023 to 2033.
- The United States VOC sensors and monitors industry value is expected to reach US$ 57.3 million by 2033.
- The demand for VOC sensors and monitors in China is set to increase at 6.6% CAGR through 2033.
- The United Kingdom VOC sensors and monitors industry valuation is anticipated to reach US 11.5 million through 2033.
- Japan market is forecast to register a 6.5% CAGR during the assessment period.
“Rising environmental concerns regarding the harmful emission of harmful gasses are expected to boost the global VOC sensors and monitors market. Implementation of strict emission regulations are likely to create opportunities for VOC sensor and monitor manufacturers over the coming decade.” - says a lead analyst at Future Market Insights (FMI).
Who is winning?
Top Players in VOC Sensor and Monitor Industry
- Aeroqual
- AMS AG
- Compur Monitors GmbH & Co. KG
- Drägerwerk
- FIGARO Engineering Inc.
- GFG Instrumentation
- Global Detection Systems
- Honeywell.
These key players are adding technologically advanced and energy-efficient compressors to their existing portfolios to gain profits. They are also showing interest in adopting strategies such as partnerships, alliances, acquisitions, collaborations, agreements, and mergers to strengthen their market presence.
Key Developments
- In 2022, AlphaSense acquired Sentieo to expand its offerings and improve the value it delivers to its customers.
More Insights Available
Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the VOC sensors and monitors market presenting historical data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study reveals market projections based on device type (monitors and sensors), application (environmental monitoring, industrial process monitoring, air purification & monitoring, and leak detection), and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).
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Key Segments of VOC Sensor and Monitor Industry Research
By Device Type
- Sensors
- Monitors
By Application
- Industrial Process Monitoring
- Environmental Monitoring
- Air Purification and Monitoring
- Leak Detection
By Region
- North America
- Europe
- Asia Pacific
- The Middle East and Africa
- Latin America
About the Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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