DUBLIN, Jun 22, 2021--(BUSINESS WIRE)--The "Carbon Monoxide Detector Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The carbon monoxide detectors market is evaluated at US$504.856 million for the year 2019 and is projected to grow at a CAGR of 4.21% to reach the market size of US$673.626 million by the year 2026.
BRK Brands Inc.
Yondwin Enterprise Co. Ltd.
MTI Industries, Inc.
Robert Bosch GmbH
Yokogawa Electric Corporation
Carbon monoxide detectors refer to devices used to detect the presence of carbon monoxide in an indoor setting and hence helps protect from carbon monoxide poisoning. There is increased awareness regarding the hazards related to carbon monoxide poisoning which has surged the demand for carbon monoxide detectors and is anticipated to propel the growth of the carbon monoxide detectors market during the forecast period. Also, the incidences of carbon monoxide poisoning have been on the rise around the world which is expected to increase the usage of carbon monoxide detectors. Furthermore, governments of various countries and states around the world have been increasingly passing regulations to make the installation of carbon monoxide detectors mandatory which is another factor that is anticipated to bolster the growth of the carbon monoxide market during the forecast period.
The recent outbreak of the novel coronavirus disease harmed the carbon monoxide detectors market. Due to the lockdown and trade restrictions implemented in various parts of the world, the supply chain of the carbon monoxide detectors market was hit which led to a decline in the carbon monoxide market in the year 2020. The factories were shut down due to strict Covid-19 measures and even where the factories were open, there was a shortage of laborers, which hit the carbon monoxide detectors market negatively. But the market is expected to recover and come to its normal pace from the year 2022 onwards.
Rise in carbon monoxide poisoning cases in some areas and increased awareness.
One of the key factors supplementing the carbon monoxide detectors market growth is the increase in the number of cases of poisoning related to carbon monoxide reported in many areas. The campaign group Project SHOUT in the United Kingdom has reported an increase in the cases of carbon monoxide poisoning in recent years. A report by the campaign group stated that carbon monoxide poisoning incidences have risen by a third over the last five years. The UK Fire and Rescue Service (FRS), which is one of the first emergency services that comes to action in the UK when there's a case of carbon monoxide leak, showed in its data that the cases of carbon monoxide poisoning have increased continuously from 2450 cases in 2014 to 3249 in 2019. This increase in the cases has increased the importance of carbon monoxide detectors which is anticipated to bolster the demand for carbon monoxide detectors during the forecast period.
According to CDC, United States reports more than 430 cases of deaths related to carbon monoxide poisoning every year. Also, owing to accidental carbon monoxide poisoning, more than 50 thousand people have to visit the emergency department every year in the country. According to the article "Worldwide epidemiology of carbon monoxide poisoning" published in the National Library of Medicine, NIH, the carbon monoxide poisoning cases are estimated at 137 cases per million whereas the deaths are estimated to be 4.6 per million. Although the percentage of patients that have died have declined since last 25 years due to better treatment and improved medical facilities, the increased awareness regarding carbon monoxide poisoning has led to a rise in the adoption of carbon monoxide detectors and is anticipated to surge the growth of carbon monoxide detectors market during the forecast period.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Carbon Monoxide Detectors Market Analysis, by Sensor Type
6. Carbon Monoxide Detectors Market Analysis, by Application
6.2. Fuel Fired Furnaces
6.3. Gas Water Heaters
6.4. Charcoal Grills
7. Carbon Monoxide Detectors Market Analysis, by End-Use Industry
7.5. Building Automation
8. Carbon Monoxide Detectors Market Analysis, by Geography
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/axaa1h
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