Air Quality Control Systems Market to Reach $144.09 Billion, Globally, by 2026 at 5.2% CAGR: Allied Market Research
Increase in demand for air filters in medical & pharma industries, rise in focus to combat air pollution and surge in industrialization in emerging countries drive the growth of the global air quality control systems market
PORTLAND, Oregon, Sept. 3, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Air Quality Control Systems Market by Product Type (Indoor and Ambient), Pollutant Type (Gas, VOC, Dust, and Others), End-User Industry (Powertrain Management, Energy & Power, Mining, Agriculture, Semiconductor, Medical & Pharma, Commercial & Residential, Transportation, and Others), and Application (Tunnels, Air Terminals, Underground Garages, Public Transportation Systems, Air Pollution Control, Automobile, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." As per the report, the global air quality control systems industry was estimated at $94.69 billion in 2018 and is expected to reach $144.09 billion by 2026, growing at a CAGR of 5.2% from 2019 to 2026. The report offers a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Increase in demand for air filters in medical & pharma industries, rise in focus to combat air pollution and surge in industrialization in emerging countries drive the growth of the global air quality control systems market. On the other hand, high initial investment & operating cost and decline in number of new coal power plants across the globe hamper the growth to some extent. However, high-end technological advancements and stringent government regulations toward controlling air pollution are expected to create an array of lucrative opportunities for the key players in the industry.
The air pollution control segment to lead the trail by 2026-
Based on application, the air pollution control segment contributed to nearly two-fifths of the total air quality control systems market revenue in 2018 and is expected to maintain its dominance throughout the forecast period. This is attributed to increased industrial manufacturing and infrastructural development across the globe. The tunnels segment, on the other hand, is projected to grow at the fastest CAGR of 6.9% during 2019–2026. The fact that air pollutant concentrations can rapidly reach distressing levels in underground road tunnels spurs the growth of the segment.
The ambient segment to rule the roost-
Based on product type, the ambient segment accounted for nearly three-fourths of the total air quality control systems market share in 2018 and is anticipated to dominate till 2026. This is due to increase in demand for air quality control systems such as wet scrubbers and dry scrubbers in varied end-user industries including power generation and automotive, to eliminate airborne contaminants and/or industrial gases from exhaust streams in ambient air. Simultaneously, the indoor segment is predicted to cite the fastest CAGR of 5.7% during the estimated period. Rise in adoption of air filtration products such as air cleaners, air filters, and air purifiers, to improve the indoor air quality drive the growth of the segment.
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Asia-Pacific, followed by North America, held the largest share in terms of revenue-
Based on geography, the Asia-Pacific region, followed by North-America, generated the largest share in 2018, holding nearly two-fifths of the total air quality control systems market. The increased necessity for food, electricity, oil, gas, and power in the region has worked as the major driving factor for the growth. At the same time, the LAMEA region would showcase the fastest CAGR of 6.5% throughout the study period. Enhanced reliability and capability to prevent contaminated air in the region have propelled the growth.
Frontrunners in the industry-
- Donaldson Company, Inc.
- Babcock & Wilcox Enterprises, Inc.
- ELEX AG
- GEA Group Aktiengesellschaft
- HAMON Group
- MANN+HUMMEL Intern. GmbH & Co. KG
- Thermax Ltd.
- Mitsubishi Hitachi Power Systems
- GE Power
- Ltd (MHPS)
- Daikin Industries Ltd.
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