Indoor Air Quality (IAQ) Solutions Market to Grow by USD 12.4 Billion (2024-2028), Boosted by New Product Launches, AI Impacting Market Trends - Technavio

NEW YORK, Nov. 21, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The global indoor air quality (IAQ) solution market size is estimated to grow by USD 12.4 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.61% during the forecast period. New air quality product launches is driving market growth, with a trend towards technological advances in indoor air quality solutions. However, high competition among market vendors poses a challenge.Key market players include 3M Co., Aeroqual Ltd., Camfil AB, Carrier Global Corp., ClimateCare, Daikin Industries Ltd., Ferguson plc, Germguard Technologies M Sdn. Bhd., Honeywell International Inc., Johnson Controls International Plc., Lennox International Inc., LG Electronics Inc., MANN HUMMEL International GmbH and Co. KG, Panasonic Holdings Corp., Perfect Pollucon Services, Sensirion AG, SGS SA, Spectro Analytical Labs Pvt. Ltd., Trane Technologies Plc, and UL Solutions Inc..

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Market Driver

Indoor Air Quality (IAQ) solutions have gained significant attention due to increasing concerns over indoor pollution. HVAC systems, HEPA filters, and IAQ management systems are popular solutions for maintaining healthy indoor environments. Building automation and LEED, WELL Building Standards, and IAQM are key certifications for ensuring optimal IAQ. Air pollution monitoring is essential for identifying pollutant types, including chemical, physical, and biological pollutants. Public-private funding is driving innovation in IAQ solutions for government buildings, industrial establishments, commercial establishments, and residential buildings. Air purifiers, humidifiers, ventilation systems, air filters, dehumidifiers, UV lamps, carbon monoxide alarms, and air quality sensors are common IAQ solutions for residential and commercial spaces. Pollutant sources include oil and gas, coal and mining, chemical, power and energy, general manufacturing, schools and universities, hospitality, retail, office buildings, hotels and restaurants, long-term care communities, and others. New equipment, service, and maintenance are crucial for maintaining IAQ. Air quality regulations continue to evolve, driving demand for advanced IAQ solutions. Portable indoor monitors offer flexibility for monitoring IAQ in various settings. Overall, the IAQ solution market is poised for growth as businesses and individuals prioritize healthy indoor environments. 

Indoor air quality (IAQ) has emerged as a significant concern due to the increasing time spent indoors and the rise in indoor air pollution levels, which are now double that of outdoor air. With nearly 90% of the global population residing indoors, the demand for IAQ solutions is surging in various industries, including homes, schools, offices, and factories. Technological advancements, such as IoT-based monitoring systems and real-time cyber-physical systems, are driving the installation of IAQ systems. Furthermore, the manufacturing sector and power plants are adopting Industry 4.0-related IAQ solutions to prioritize employee health. The market for portable IAQ monitors is also experiencing significant growth due to the need for individual monitoring and real-time analysis. 

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Market Challenges

• Indoor Air Quality (IAQ) solutions market is growing due to increasing concerns over indoor air pollution from various sources like HVAC systems, chemical pollutants, physical pollutants, and biological pollutants. HEPA filters, IAQ management systems, building automation, and LEED, WELL Building Standards, and IAQM are key solutions. Challenges include public-private funding for IAQ improvements in government, industrial, commercial, and residential buildings. Air pollution monitoring using indoor monitors, portable monitors, and air quality sensors is crucial. Pollutant types include chemical, physical, and biological. Solutions include air purifiers, humidifiers, ventilation systems, air filters, dehumidifiers, UV lamps, carbon monoxide alarms, and new equipment like air quality sensors. Regulations mandate PM, ozone generators, and other air quality standards for residential, commercial, oil and gas, coal and mining, power and energy, general manufacturing, schools and universities, hospitality, retail, office buildings, hotels and restaurants, and long-term care communities.
• The Indoor Air Quality (IAQ) solution market faces intense competition from a multitude of vendors, both regional and international. This fragmented market landscape poses challenges for global players looking to maintain their market presence. Local vendors offer affordable indoor air quality solutions and equipment, including air filters, air purifiers, humidifiers, and more, forcing global vendors to match their prices. This price war negatively impacts the market growth for indoor air quality solutions, equipment, and services.

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Segment Overview

This indoor air quality (iaq) solution market report extensively covers market segmentation by

1. Product
• 1.1 Equipment
• 1.2 Services
2. Type
• 2.1 Fixed
• 2.2 Portable
3. Geography
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Equipment- Indoor air quality is a critical factor influencing the health and well-being of people. To ensure optimal indoor air quality (IAQ), it's essential to regularly test for allergens, radon, CO2 emissions, gases like chlorofluorocarbons (CFCs) and hydrofluorocarbons (HFCs), and volatile organic compounds (VOCs) from electronic devices. Indoor air quality solutions include air monitor sensors, air purifiers, and humidifiers. The global market for indoor air quality solutions is growing rapidly due to the demand for smart and affordable air monitoring sensors. Vendors are launching innovative and smart indoor air quality solutions, such as Honeywell's new range of air purifiers with UV LED, ionizer, and humidifier functionalities. Climate Care offers indoor air quality systems that eliminate up to 99.3% of contaminants. Indoor pollution sources include asbestos, biological pollutants, air fresheners, formaldehyde/pressed wood products, and CO emissions. To address indoor pollution, establishments should invest in air pollution monitoring kits and equipment that effectively control air pollution levels. Companies like Carrier and TSI offer a range of air quality monitoring equipment and solutions, including air purifiers, humidifiers, dehumidifiers, ventilators, CO alarms, and UV air purifiers. TSI's precision air quality instruments and air quality monitoring solutions enable real-time air quality measurements. The availability of a wide range of innovative indoor air quality equipment is driving market growth.

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Research Analysis

Indoor Air Quality (IAQ) solutions refer to technologies and systems designed to improve the air quality within and around buildings. IAQ issues can arise from various pollutant types, including Volatile Organic Compounds (VOCs), chemical, physical, and biological pollutants. HVAC systems, HEPA filters, UVGI, IAQ management systems, and building automation are essential solutions for mitigating indoor air pollution. LEED and WELL Building Standards promote IAQ as a critical component of sustainable building design. IAQM, air pollution monitoring, and portable indoor monitors help identify pollutant sources and levels. Public-private funding and air quality regulations drive the market for IAQ solutions. Other solutions include air purifiers, humidifiers, ventilation systems, air filters, dehumidifiers, ultraviolet (UV) lamps, carbon monoxide alarms, and particulate matter (PM) sensors. Ozone generators, while once popular, have been largely replaced due to health concerns. Regulations and industry best practices continue to evolve, ensuring a dynamic and innovative IAQ solutions market.

Market Research Overview

Indoor Air Quality (IAQ) solutions encompass various technologies and systems designed to maintain and improve the air quality within buildings. These solutions include HVAC systems, HEPA filters, IAQ management systems, building automation, and LEED, WELL Building Standards, and IAQM certification. Air pollution monitoring is crucial, with options ranging from stationary monitors to portable indoor monitors. Pollutants can be chemical, physical, or biological, affecting diverse sectors like government buildings, industrial establishments, private and commercial establishments, and residential buildings. Solutions include air purifiers, humidifiers, ventilation systems, air filters, dehumidifiers, ultraviolet (UV) lamps, carbon monoxide alarms, and air quality sensors. Regulations, such as Particulate Matter (PM) standards, guide the implementation of these solutions. Other IAQ solutions include air quality regulations, pollutant type-specific equipment, and services. Industries like oil and gas, coal and mining, chemical, power and energy, general manufacturing, schools and universities, hospitality, retail, office buildings, hotels and restaurants, and long-term care communities all benefit from these IAQ solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Equipment
• Services
• Type
• Fixed
• Portable
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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