During the forecast period of 2023-2035, the global dissolved oxygen sensors market is expected to reach an estimated value of ~USD 1000 million by 2035, by expanding at a CAGR of ~8%. The market further generated a revenue of ~USD 500 million in the year 2022. Major key factors propelling the growth of dissolved oxygen sensors market worldwide are the rising application of the sensors in the wastewater management systems, and growing prevalence of contamination of water sources.
Dissolved oxygen is employed in bioprocessing applications such as fermentation. The dissolved oxygen concentration during the life of the microbe must be measured and controlled by the biotech industry. Dissolved oxygen sensors, such as electromechanical and optical sensors, are used to monitor the condition of water bodies, such as streams, rivers, and lakes.
Global Dissolved Oxygen Sensors Market: Growth Drivers
The growth of the global dissolved oxygen sensors market can majorly be attributed to the growing prevalence of contaminated water. The World Health Organization (WHO) estimates that 2 billion people around the world drink dirty water, while 785 million people lack access to basic drinking water services. Further, living organism residing inside the water need oxygen to survive. Populations of freshwater species have decreased by 83% over the past 50 years. According to the study, between 1970 and 2016, freshwater fish populations worldwide decreased by 76%. Hence, dissolved oxygen sensors is essential to regulate the aquatic life, which is why its adoption is expected to be boosted. In addition, as dissolved oxygen sensors are needed to manage the level of oxygen in the water, it is anticipated that the growth in aquaculture, or fish farming, would enhance the demand for these devices. For instance, in 2019 there were almost 178 million metric tonnes of fish produced worldwide.
The global dissolved oxygen sensors market is also estimated to grow majorly on account of the following:
· Growing Awareness Among Authorities in Order to Stop Contamination of Water
· Rising Demand for Treating Waste Water for Reuse
· Sure in Water Scarcity
Global Dissolved Oxygen Sensors Market: Restraining Factor
Dissolved oxygen sensors requires trained personnel in on order to install, operate, update, and maintain the product. However, as platinum is used while manufacturing of dissolved oxygen (DO) sensors, they are expensive. Hence to curb the cost of installing dissolved oxygen sensors, cheap, and unskilled labors are recruited for this job. This may further result into loss of life, personal injury, and also property damage. Hence this factor is expected to hinder the growth of the market.
Global Dissolved Oxygen Sensors Market Segmentation
· By Sensor Type (Concentration Cell Sensors, Oxide Semiconductor Sensors, Electrochemical Sensors, and Optical Sensors, and Others)
· By Application (Wastewater Treatment, Aquaculture, Environmental Sciences, and Others)
The wastewater treatment segment is expected to occupy a significant share of the global dissolved oxygen sensors market over the forecast period, owing to rising demand for waste water treatment for reuse, which is fueled by the world’s fast expanding water constraint. Contamination of water further leads to various hazardous effects on environment and human. Every day, 4,000 children pass away from illnesses brought on by contaminated water and poor sanitation. About 1.8 million people (mainly children) die from diarrhea alone each year. Hence the adoption of dissolve oxygen sensors is expected to boost in wastewater treatment.
· By Region
The Asia Pacific dissolved oxygen sensors market is anticipated to hold the largest market share by the end of 2035 among the market in all the other regions, backed by growing demand for water amongst the rising population, along with surge in water pollution levels in the developing countries. Additionally, it is anticipated that growing aquaculture use in the APAC area would accelerate market expansion. According to data provided by the World Bank, China produced 66,135,060 metric tonnes of aquaculture in 2018. Further, owing to the growing urban water shortage problem, expanding fish culture, and growing aquaponics activities in the North America, the market in this region is predicted to obtain the biggest market share over the course of the projection period.
The market research report on global dissolved oxygen sensors also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), 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), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Key Market Players Featured in the Global Dissolved Oxygen Sensors Market
Some of the key players of the global dissolved oxygen sensors market are Hky Technology Co., Ltd., Metex Corporation, Horiba, Ltd., Mettler Toledo, Campbell Scientific India Pvt. Limited, Emerson Electric Co., Xylem Analytics GmbH & Co. KG., Hach Company (Danaher Corporation), Thermo Fisher Scientific Inc., Honeywell International Inc., and others.
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