DUBLIN--(BUSINESS WIRE)--The "Radon Detector Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type and Application" report has been added to ResearchAndMarkets.com's offering.
The global radon detector market was valued at US$ 514.88 million in 2019 and is anticipated to reach US$ 877.68 million by 2027; it is expected to grow at a CAGR of 6.89% from 2019 to 2027.
The COVID-19 outbreak hindered the growth of the global market in 2020, and thus there is a decline in the y-o-y growth. However, the growth is expected to normalize from 2021 onward and the market is projected to grow at a steady pace.
Presently, majority of revenue share in the global radon detectors market is contributed by developed regions such as North America and Europe owing to high awareness among end users and supportive government and industrial regulations related to radon detection in these regions.
However, the low penetration of radon detector solutions in developing countries of Asia Pacific is anticipated to offer lucrative growth opportunities for market players in the coming years. Asia Pacific is growing with several potential growth markets, such as China, India, and South East Asian countries, for such solutions.
In addition, the growing trend of workplace automation and digitalization across industries coupled with rising government expenditure to boost industrial and commercial development in Asian countries would propel the adoption of radon detectors across the region in the coming years.
Huge population growth, growing urbanization and industrialization, rising disposable income, increasing awareness of health, and surging adoption of smart connected devices are expected to boost the growth of radon detectors market in APAC during the forecast period.
Airthings; Bertin Instruments; Radonova; SunRADON LLC; Durridge; Quarta-Rad Inc.; Family Safety Products, Inc.; BRK Brands, Inc.; PRO-Lab; and Radiation Safety Services, Inc. are among the prominent players operating in the market.
Market Dynamics
Market Drivers
- Increasing Importance and Awareness of Indoor Air Quality
- Positive Impact of Radon related Codes and Standards
Market Restraints
- Lack of Awareness and Technical Expertise
Market Opportunities
- Growth Opportunities for Radon Detectors in Developing Markets
Future Trends
- Continuous Advancements in Radon Detector Solutions to Fuel Future Demand
Companies Mentioned
- Airthings
- BERTIN INSTRUMENTS
- BRK Brands, Inc.
- DURRIDGE
- Family Safety Products, Inc.
- PRO-LAB
- Quarta-Rad Inc.
- Radiation Safety Services, Inc.
- Radonova
- SunRADON LLC
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