The global dissolved oxygen sensors market is estimated to grow at a CAGR of ~8% over the forecast period, i.e., 2022 – 2031. Dissolved oxygen sensors are analytical instruments used to measure the concentration of oxygen in a liquid. The growth of the market can be attributed to the growing application of the sensors in the wastewater management systems. The increasing adoption of water recycling is bound to raise the demand for dissolved oxygen sensors, to check the reusability of water, as water with low oxygen level is not fit for use. Moreover, increasing prevalence of contamination of water sources, along with increasing awareness amongst authorities regarding water pollution, is projected to contribute to the market growth. According to the statistics by the World Health Organization (WHO), 785 million people lack basic drinking-water service, while 2 billion people globally use a contaminated water source for drinking. In addition to this, the surge in aquaculture or fish farming, is expected to increase the demand for dissolved oxygen sensors, as these are required to maintain the level of oxygen in the water. For instance, global fish production amounted to over 178 million metric tons in 2019.
The market is segmented by application into wastewater treatment, aquaculture, environmental sciences, and others, out of which, the wastewater treatment segment is anticipated to hold a substantial share in the global dissolved oxygen sensors market over the forecast period on account of increasing demand for treating waste water for reuse, backed by the rapidly increasing water scarcity globally. Moreover, water with too low or high oxygen level can be harmful for consumption. Such factors are estimated to boost the segment growth.CLICK TO DOWNLOAD SAMPLE REPORT
In 2019, the world’s total energy supply was 606EJ, wherein the highest share in terms of source was captured by oil, accounting for 30.9%, followed by coal (26.8%), natural gas (23.2%), biofuels and waste (9.4%), nuclear (5.0%), hydro (2.5%), and other (2.2%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 1% due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.
On the basis of geographical analysis, the global dissolved oxygen sensors market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period, on the back of increasing demand for water amongst the growing population, along with increasing water pollution levels in the developing countries. Moreover, the increasing adoption of aquaculture in the APAC region, is further foreseen to boost the market growth. According to the data by the World Bank, the aquaculture production amounted to 66,135,060 metric tons in China, in 2018.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing problem of water shortage in urban areas, along with the rising fish culture and aquaponics activities in the region.
The global dissolved oxygen sensors market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global dissolved oxygen sensors market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The growing demand to measure oxygen level in the water for consumption is estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2022 – 2031.
Poor awareness amongst wastewater treatment facilities is estimated to hamper the market growth.
The Asia Pacific region is anticipated to provide more business opportunities over the forecast period owing to the growing aquaculture in the region.
The major players in the market are Metex Corporation, Horiba, Ltd., Mettler Toledo, Campbell Scientific India Pvt. Limited, Emerson Electric Co., Xylem Analytics GmbH & Co. KG., Hach Company, Thermo Fisher Scientific Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by sensor type, application, and by region.
The wastewater treatment segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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