Global Air Quality Monitoring Systems Market to Reach $5.8 Billion by 2026

SAN FRANCISCO , May 31, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Air Quality Monitoring Systems - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 10; Released: April 2022
Executive Pool: 20224
Companies: 110 - Players covered include 3M Company; Aeroqual Ltd.; Emerson Electric Co.; Hangzhou Zetian Technology Co., Ltd.; Honeywell International Inc.; Horiba, Ltd.; Merck KGaA; NotAnotherOne Inc.; PerkinElmer, Inc.; Plume Labs SAS; Siemens AG; Teledyne Technologies Inc.; Testo SE & Co. KGaA; Thermo Fisher Scientific Inc.; Tisch Environmental Inc.; TSI Incorporated and Others.
Coverage: All major geographies and key segments
Segments: Product (Indoor, Outdoor, Wearables); End-Use (Government Agencies & Academic Institutes, Petrochemical, Commercial & Residential, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.

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ABSTRACT-
Amid the COVID-19 crisis, the global market for Air Quality Monitoring Systems estimated at US$4.4 Billion in the year 2022, is projected to reach a revised size of US$5.8 Billion by 2026, growing at a CAGR of 6.9% over the analysis period. Indoor, one of the segments analyzed in the report, is projected to grow at a 6.7% CAGR, while growth in the Outdoor segment is readjusted to a revised 7.3% CAGR. The market is slated to post healthy growth and receive a major impetus from alarming level of air pollution, implementation of stringent regulations and rising awareness about deleterious health effects of pollutants. Air pollution is the emission of toxic and harmful chemicals and other compounds in the atmosphere. These air pollutants hold serious implications for humans and the environment, and known to cause various ailments like respiratory diseases, cardiovascular conditions and cancer. Air pollution remains one of the major risks to human health, with outdoor pollution in urban and rural areas claiming 4.2 million lives in 2016. Increasing air pollution, mainly in urban areas, is attributed to rising construction activity, rapid industrialization and growing vehicle count. Unabated pollution levels and rising public awareness regarding the impact of pollutants on human health and lifestyles along with the environment are creating a pressing need for advanced air quality monitoring systems.

The market is anticipated to garner considerable momentum owing to escalating concerns over air pollution and technological advancements. Ongoing endeavors by companies to offer sophisticated solutions along with the untapped growth potential in several emerging countries are set to provide ample opportunities in the coming years. The influx of new products is expected to transform the way indoor and outdoor air quality is controlled and monitored. Various companies and government organizations are investing in R&D projects to develop, assess and implement better air quality solutions. In addition, these advancements are slated to result in availability of portable and affordable monitoring sensors, pushing overall demand for these systems. Moreover, rising air pollution due to increasing number of vehicles and rapid industrialization and the resulting implementation of stringent regulations in various developing nations are likely to fuel demand. These factors are anticipated to help the air quality monitoring system market in positing a fast growth in countries like India and China.

The market is also poised to also gain from the critical significance of indoor air quality for comfort, health and productivity of people in a building. Other prominent factors augmenting the market growth include increasing number of smart homes and stringent government regulations to control and monitor air pollution. Favorable regulations, ongoing efforts to develop eco-friendly industries and rising public/private funding towards monitoring of air pollution are anticipated to drive the demand for air quality monitoring systems. Industries targeting limit on disposal of toxic byproducts into the environment are adopting environmental sensors for monitoring these effluents. In addition, rising awareness about negative medical consequences of air pollution is prompting participants in various industries like oil & gas, automotive, aviation and agriculture to deploy air quality monitoring systems. On the flip side, factors like ineffective pollution control reforms across developing nations and export barriers related to new technologies in emerging markets are restraining the market growth. In addition, the high cost and maintenance associated with these systems along with technical limitations and low level of awareness in developing countries are poised to further hinder the market expansion. However, continuing technological advances and healthy growth of the power generation and petrochemical industries are slated to favor growth of the global air quality monitoring system market. Indoor monitors are growing as a result of rising consumer focus on pollution-free, clean indoor environments. The segment is also gaining from increasing shift towards green building and smart home technologies.

The portable indoor monitor category of the market is expected to post a considerable growth over the coming years. These monitors encompass mobile or personal use devices designed for indoor air quality monitoring for small groups or individual professionals. These devices include lightweight and handheld platforms for indoor applications. Increasing demand for these monitors is attributed to their higher affordability than fixed devices, and ability to easily detect the pollution source. The segment is benefitting from implementation of strict environmental guidelines and continuing development and introduction of advanced devices. The portable monitor segment of the market is estimated to surpass fixed monitors in terms of future growth. The segment is poised to gain from strong focus on green building technologies like air quality monitoring, humidity control, ventilation management and indoor gas or dust management coupled with continuous expansion of the smart homes market.

North America continues to be the primary market for air quality monitoring system due to the confluence of a number of favorable factors. The US has the highest number of vehicles on the road and cars are the primary mode of transportation in the region. In addition, the high per capita incomes in the region also result in high per capita consumption of energy. The large scale of urbanization is also resulting in concentration of emissions and increasing pollution in the region. However, the awareness of ill effects of air pollution is high among the population as well as the government agencies, leading to a robust market for air quality monitoring systems in North America. The US, by virtue of its large population, concentration multiple metropolitan areas, and affluence of the population is the largest market for air quality monitoring systems in North America. While urbanization, transportation, and industrial activity are the major causes of air pollution in the US; wildfires, VOC emissions from vegetation, and volcanic eruptions are the primary sources of pollution in Canada. Growth in this regional market is propelled by easy access and adoption of sophisticated technologies along with implementation of stringent regulations for air pollution monitoring. Technological advancements in the region are leading to integration of next-generation sensors to sense environmental effects of pollutants. Factors like increasing number of industries and stringent regulations in the region are bolstering the demand for environmental sensors. The market growth is further favored by strict standards implemented by the US related to environmental health along with heavy investments in advanced pollution-sensing systems. These conditions have encouraged various players to foray into the market for lucrative gains. In addition, the active role of the Environmental Protection Agency and rising investments to reduce air pollution are poised to favor the market.

North America along with Europe is estimated to report significant gains in the coming years owing to growing adoption of sophisticated air quality monitoring systems. Moreover, technological advances related to gas analyzers and particulate sensors coupled with the evolving legislative landscape and rising private and public funding are expected to further push the market growth. The air quality monitoring system market in Asia-Pacific is predicted to display a healthy growth rate due to increasing focus of industries on compliance with environmental guidelines. In addition, factors like rapid industrialization, government support to advanced air quality monitoring systems, and enactment of stringent air pollution regulations are likely to bolster the market. Furthermore, the positive macroeconomic scenario in countries like China and India is expected to attract global players and provide a notable impetus to the regional market. More

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