NEW YORK, Aug. 8, 2016 /PRNewswire/ -- The global air quality monitoring (AQM) market is estimated to grow at a high CAGR of 8.5% from 2016 to 2021 to reach USD 5.64 billion by 2021. Although the developed regions (such as North America and Europe) held large shares in the AQM market in 2016, the Asia-Pacific region is projected to grow at the highest CAGR in the next five years. Factors such as large-scale industrialization, implementation of stringent air pollution regulations across major Asian countries, growing government emphasis on industry compliance with environmental safety regulations, and continuous government support for the development & commercialization of advanced AQM products are propelling the growth of the AQM market in this region.
Growth in the global air quality monitoring market is driven by factors such as presence of supportive government regulations for effective air pollution monitoring and control, ongoing government initiatives towards the development of environment-friendly industries, increasing public-private funding, rising global levels of air pollution, and increasing public awareness related to healthcare and the environmental implications of air pollution. In addition, emerging Asian countries such as China and India, technological advancements in the field of air pollution monitoring, and ongoing expansions of petrochemical and power generation industries are offering new growth opportunities for AQM vendors in the market.
Geographically, North America is estimated to command the largest share of the global air quality monitoring market in 2016, followed by Europe. The large market share of the North American region can be attributed to the fast adoption of new advanced air quality monitoring technologies in this region. A number of factors such as ongoing technological advancements in the field of gas analyzers & particulate sensors, rising public-private funding and investments, and the presence of supporting government regulations are further stimulating the demand for air quality monitoring in North America. However, pricing pressures faced by key market players and technical issues related to conventional products in the North American region are negatively affecting the growth of the air quality monitoring market in this region.
The air quality monitoring market is competitive, with a large number of global and local providers of air quality monitoring solutions. Thermo Fisher Scientific, Inc. (U.S.), Teledyne Technologies Inc. (U.S.), and Siemens AG (Germany) were the top three players in the air quality monitoring market in 2015. These companies together accounted for 56.2% of the global market. New product launches and product enhancements; partnerships, agreements, and collaborations; acquisition; and geographic expansions are the major strategies adopted by most of the market players to achieve growth in the air quality monitoring market.
Reasons to Buy the Report:
From an insight perspective, this research report focuses on various levels of analysis—market share analysis of the top players and company profiles, which together comprise and discuss basic views on the competitive landscape; emerging and high-growth segments of the AQM market; and high-growth regions and their respective drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms in garnering a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on AQM products offered by the top 10 players in the AQM market. The report analyzes the air quality monitoring market by product, sampling method, pollutant type, and end users across four geographies
Product Development/Innovation: Detailed insights on current technologies, research and development activities, and new product launches in the AQM market
Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the markets for various air quality monitoring products across four geographies (North America, Europe, Asia-Pacific, and the Rest of the World)
Competitive Assessment: Assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the AQM monitoring market
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