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Non-dispersive Infrared (NDIR) Market worth $965 million by 2029 - Exclusive Report by MarketsandMarkets™CHICAGO, April 2, 2024 /PRNewswire/ -- The Non-dispersive Infrared (NDIR) Market is expected to be valued at USD 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% during the forecast period according to a new report by MarketsandMarkets™. The increasing demand for NDIR gas sensors in industries like automotive & transportation, industrial & manufacturing, food & beverages etc is fuelling NDIr market growth. Restraints such as intense pricing pressure resulting in decreased average selling price hinder market growth. However, factors such as growing adoption of gas sensors in consumer electronics provide lucrative opportunities for market players in coming years.  Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=90187624 Browse in-depth TOC on "Non-dispersive Infrared (NDIR) Market" Non-dispersive Infrared (NDIR) Market Report Scope:
Based on application type, the NDIR market for monitoring applications is expected to hold the highest market share during the forecast period. Air pollution is a global environmental threat of great concern to governments worldwide. On the other hand, anesthesia monitoring is also crucial for ensuring patient safety during healthcare procedures, involving the real-time tracking of carbon dioxide, nitrous oxide, and potent anesthetic agents like isoflurane, sevoflurane, and desflurane. Monitoring of refrigerant gases, capnography etc are likely to boost NDIR market. NDIR market for VOCs to hold high market share during the forecast period. Given the widespread presence of VOCs in manufacturing processes across industries such as textiles, plastics, and pharmaceuticals, the demand for VOC sensors continues to rise. While VOCs exist in various household, industrial, and commercial products, it is their accumulation in the air and water that has predominantly garnered attention. These sensors play a crucial role in maintaining safe working environments and preserving air quality in urban areas. As awareness about the potential health and environmental impacts of VOCs grows, the market for VOC sensors is expected to expand further in the coming years. Industrial & Manufacturing segment by vertical in NDIR industry to hold high market share during the forecast period. The industrial and manufacturing sector, which encompasses industries like packaging, power plants, wastewater treatment, and semiconductor manufacturing, produces both combustible and toxic gases. Excessive concentrations of these gases pose health risks to workers and the environment, leading to an increasing demand for NDIR solutions to detect and control them, thereby driving market growth. Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=90187624 North America by region is projected to hold the second highest market share during the forecast period. NDIR sensors and modules are utilized in various industries like oil & gas, automotive & transportation, food processing & storage, environmental, and healthcare. NDIR sensors serve as effective solutions for air quality monitoring, and government initiatives aimed at reducing air pollution are further driving the market growth in North America. Fixed NDIR modules and sensors to hold the second highest market share during the forecast period. Fixed NDIR gas analyzers find extensive use across multiple verticals including environmental monitoring, industrial safety, manufacturing, oil and gas, HVAC, and laboratory applications. Real-time gas detection solutions in hazardous environments, driving adoption across industries such as mining, construction, and emergency response. They are also used in monitoring emissions in oil refineries, petrochemical plants, and power generation facilities to comply with environmental regulations. Key Players The NDIR companies includes major Tier I and II players like Honeywell International Inc. (US), MSA. (US), Amphenol Corporation. (US), Yokogawa Electric Corporation (Japan), Emerson Electric Co. (US) and others. These players have a strong market presence in advanced packaging across various countries in North America, Europe, Asia Pacific, and the Rest of the World (RoW). 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