The mid-IR sensors market allows for real-time detection and monitoring of gases and combustion processes across various industries such as oil & gas, electronics, healthcare, and chemicals. Mid-IR sensors offer advantages such as high sensitivity, wide spectral range detection, and compact size for accurate identification and quantification of molecules in the mid-infrared spectrum between 3-12 μm wavelengths. Rising demand for monitoring greenhouse gases, detecting chemical leaks, and medical diagnostics has fueled the need for mid-IR sensors.
Global Mid-IR Sensors Market is estimated to be valued at US$ 101.96 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031
Key Takeaways
Key players operating in the mid-IR sensors market are General Mills Inc., The Nature’s Bounty Co. (NBTY), Amway Enterprises, Herbalife International, Inc., Royal DSM NV, Pepsi Co., Groupe Danone, Bayer AG, Abbott Laboratories, and Chobani LLC. These leading manufacturers are focusing on developing advanced mid-IR sensors with enhanced sensitivity, broader spectral range, compact designs, and lower cost to cater to the rising demand from various end-use industries.
The mid-IR spectral range allows for multi-gas detection which has opened up new opportunities for developing personalized healthcare diagnostics, environmental monitoring, and process analytical instruments. Mid-IR sensor players are exploring opportunities in applications such as breath analysis, disease screening, pollution monitoring, and predictive maintenance through multi-component gas analysis.
Key players are expanding their Mid-IR Sensors Market Growth capabilities globally to serve the regional demand. Notable expansion strategies include acquisitions, partnerships, collaborations and developing distributed manufacturing units. For instance, General Mills has partnered with local mid-IR sensor distributors in Asia and entered markets like China and India through acquisitions. Similarly, Royal DSM has manufacturing plants in Western Europe, North America, and China to support global customers of mid-IR sensing solutions.
Market drivers: One of the key drivers of mid-IR sensors market is rising adoption in gas and combustion monitoring applications across industries. Mid-IR sensors enable real-time and continuous monitoring of combustion gases, air quality, chemical and greenhouse gas emissions which is driving their increased use in applications like process control, environmental monitoring and emission regulations compliance across industries.
Market restraints: High cost of development and production are key restraints for Mid-IR Sensors Market Size and Trends. Compared to alternatives like NIR and UV sensors, mid-IR sensors require specialized manufacturing facilities and materials like antimonide and mercury cadmium telluride compound semiconductors which add to their cost. This hinders wider adoption of these sensors for commercial and consumer applications where cost is a major decision factor.
Segment Analysis
The Mid-IR Sensors market is dominated by the non-dispersive infrared (NDIR) sub-segment, which accounts for around 60% share of the overall market. NDIR sensors are widely used for gas detection in applications like gas leak detection systems, portable gas monitors, environmental monitoring systems etc. Its wide application and reliability makes it the preferred choice for most end-use industries. The carbon dioxide sensors sub-segment is the second largest and growing at a decent pace owing to rising installation of carbon dioxide sensors in indoor air quality monitoring systems.
Global Analysis
North America dominates the global Mid-IR Sensors market with a share of over 35% owing to large presence of end-use industries like oil & gas, industrial, automotive etc and stringent emission monitoring regulations in the region. The market in Europe is another major revenue generating region and is growing at a steady pace due to development of district heating systems and implementation of occupational safety standards regarding gas leak detection.
Asia Pacific is identified as the fastest growing regional market for Mid-IR Sensors with countries like China, India, Japan and South Korea being the major contributors. Increasing manufacturing activities, urbanization and rising installation of gas detection systems are driving the demand in the Asia Pacific region.
For More Insights Discover the Report In language that Resonates with you
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
Comments
0 comment