April 21, 2024
Mid IR Sensor Market

The Mid-IR Sensor Market Driven By Growing Demand For Infrared Sensing In Gas Detection

Mid-infrared (Mid-IR) sensors are optoelectronic devices that detect infrared light in the mid-infrared spectral range from 3 μm to 15 μm. They are used in various applications such as gas sensing, pollution monitoring, process control, and flame detection among others. Mid-IR sensors help detect the presence of gases such as carbon dioxide, methane, and other hydrocarbons by sensing the absorption spectra of these gases in the mid-infrared region. The growing demand for gas detection across industries such as oil & gas, manufacturing, and fire detection is driving the adoption of mid-IR sensors.

The global Mid-IR Sensors Market is estimated to be valued at US$ 36.44 Bn in 2024 and is expected to exhibit a CAGR of 15.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The mid-IR sensors market is witnessing rising adoption of quantum cascade laser (QCL) technology. QCL-based mid-IR sensors offer superior performance compared to traditional thermal detectors as they have narrower linewidth, high output power, and wavelength tunability. QCL sensors can detect gases at molecular vibrational frequencies with higher sensitivity and precision. Major mid-IR sensing companies are focusing on developing advanced QCL-based sensors to tackle the demand from applications such as ambient air monitoring, leak detection, industrial process control and breath analysis. QCL technology is expected to revolutionize mid-IR sensing capabilities over the forecast period.

Porter’s Analysis

Threat of new entrants: Low capital requirements and availability of skilled labor in developing economies has increased threat of new entrants.

Bargaining power of buyers: Presence of large buyers such as food and beverages industries has increased their bargaining power.

Bargaining power of suppliers: Suppliers have moderate to low bargaining power due to availability of substitutes.

Threat of new substitutes: Rising consumer focus on healthier options has increased threat of new substitutes such as brown rice noodles.

Competitive rivalry: Presence of numerous regional and global players has intensified competitive rivalry in the market.

Key Takeaways

The Global Mid-IR Sensors Market Demand is expected to witness high growth.

Regional analysis: The Asia Pacific region dominates the global market and is expected to witness fastest growth during the forecast period owing to rising disposable incomes, growing working population and increasing urbanization in major countries such as China and India.

Key players operating in the Mid-IR Sensors market are Nestlé S.A,Nissin Food Holdings Co., Ltd.,Nestlé S.A,Nissin Food Holdings Co., Ltd.Indofood CBP Sukses Makmur Tbk PT,Tingyi (Cayman Islands) Holding Corporation,Uni-President Enterprises Corporation,Acecook Vietnam Joint Stock Company. Key players are focusing on new product launches to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it