Dissolved Oxygen Sensors Market Trends
Growth Drivers
- An Increasing Prevalence Of Contamination Of Water - According to the World Health Organization (WHO), 785 million people lack basic access to drinking water, while 2 billion consume contaminated water. As water contamination increases, it affects the dissolved oxygen levels in the water. This, in turn, has a significant impact on aquatic life and the surrounding environment. Dissolved oxygen sensors can help detect water contamination levels, and therefore the demand for these sensors is increasing.
- Growing Industrial Activities Worldwide - A comparison of December 2022 with December 2021 reveals that global industrial production, excluding the United States, increased by 1.2%. As industrial activities increase, wastewater contaminated with chemicals and other pollutants is generated in large volumes. To monitor the quality of wastewater, dissolved oxygen sensors are used to detect the presence of pollutants and measure oxygen levels in the water.
- The Presence of Large Water Treatment Plants- It is estimated that there are 14,740 public-owned water treatment plants serving 235 million people across the country. Water treatment plants need to monitor the levels of dissolved oxygen in the water they are treating, and the sensors enable them to do this quickly and accurately. This in turn helps to ensure that the water is safe for consumption.
- Rapid Growth of Biotechnology And Pharmaceutical Industries In Developing Economies- A 15% increase over the previous year was recorded in the Indian biotechnology industry in 2022, surpassing USD 80 billion. As of 2021, there were 5,360 biotech startups registered in India, an increase of 1125 from the previous year. The number of startups is expected to increase to 10,000 by 2024. The need for precise and accurate measurements of dissolved oxygen for biotech and pharma industries is essential for their production processes, as any variation in oxygen levels can lead to quality and safety issues with the products.
- Rapid Urbanization Worldwide - As per World Bank, there are 4.4 billion people living in cities around the world today, representing 56% of the population. In the next few decades, this trend is expected to continue, with a population of more than double its current size expected in the cities by 2050, a time when almost 7/10 of the world's population will live in cities. As more people move to cities, the demand for water increases and the quality of the water decreases. Therefore, these sensors are used to monitor the quality of the water and detect any changes in the oxygen level so that corrective action can be taken.
Challenges
- High Cost Associated with The Installation of Dissolved Oxygen Sensors- The high cost of installing these sensors is owing to the fact that they are delicate and require specialized knowledge to install and maintain. Additionally, the sensors are sensitive to changes in temperature and pH, so they need to be monitored regularly and recalibrated, which adds to the cost.
- Poor Awareness amongst Wastewater Treatment Facilities regarding the importance of dissolved oxygen sensors and the lack of technical expertise to operate and maintain them
- Wastewater-related Diseases that are Susceptible to Aerobic Bacteria
Dissolved Oxygen Sensors Market: Key Insights
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:
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North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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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
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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
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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
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
|
CAGR |
5.9% |
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Base Year Market Size (2024) |
USD 392.15 million |
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Forecast Year Market Size (2037) |
USD 826.23 million |
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Regional Scope |
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