Volatile organic compounds (VOCs) are a wide range of carbon-based (organic) compounds that are found in various manmade as well as natural solids and liquids, which evaporate easily at ambient temperatures. These are extremely hazardous gasses and pose a threat to human health. VOC sensors and monitors are employed to measure and monitor these compounds to keep a check on their concentrations. The VOC sensors and monitors market is expected to grow from USD 140 million in 2018 to USD 176 million by 2023, at a CAGR of 4.6%. Increasing enforcement of occupational health and safety regulations by governments is among the prime factors driving the VOC sensors and monitors market. Besides this, growing awareness regarding controlled air quality, and rising demand for VOC sensors and monitors from developing countries are other major factors fueling the growth of the said market.
Major players in the VOC sensors and monitors market have primarily adopted the strategy of product launches to strengthen their product portfolios as well as expand the reach of their offerings to new clients. For instance, in May 2018, Honeywell (US) launched connected, wearable portable gas detectors named Honeywell BW Ultra monitors that enable safety for workers in dangerous, confined spaces. In October 2017, Drägerwerk (Germany) also launched a multi-gas detector named X-am 8000. This product can simultaneously measure up to 7 toxic or flammable gasses and vapors as well as oxygen in the pump or diffusion mode. Besides product launches, acquisitions, collaborations, and expansions were other key strategies adopted by the key companies to grow in the VOC sensors and monitors market.
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Honeywell (US) and Aeroqual (New Zealand) are among the major players in the in VOC sensors and monitors market. Honeywell has a wide portfolio of products for the detection of VOCs in critical gas sensing applications. It mainly focuses on gas sensors used in hostile environments, for strengthening its position in the gas sensors market. The company is expanding its product reach in different regions with product innovations and product launches for which it primarily focuses on R&D. In the recent years, the company launched various products related to VOC sensors and monitors. For instance, in 2018, the company launched wearable portable gas detectors named Honeywell BW Ultra monitors; and in 2017, it launched Sensepoint XCL, a Bluetooth-enabled, fixed gas detector for commercial, light industrial applications.
Aeroqual is another dominant player in the VOC sensors and monitors market. The company has established strong relationships with government bodies of developed countries. For instance, in March 2018, Aeroqual collaborated with the US EPA for a 5-year Cooperative Research and Development Agreement (CRADA). Its broad product line makes the company a leading and competitive player in VOC sensors and monitors market. The company is further strengthening its product portfolio by adopting the product launch strategy. For instance, in September 2017, Aeroqual launched PM2.5 and PM10 sensor heads; these sensor heads can be used to measure 2.5 μm and less (PM2.5), and 10 μm and less (PM10), respectively.
VOC Sensors and Monitors Market by Device Type (Sensors and Monitors), Application (Industrial Process Monitoring, Environmental Monitoring, Air Purification & Monitoring, and Leak Detection), and Geography - Global Forecast to 2023
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