New Analysis from Global Industry Analysts Reveals Steady Growth for Indoor Air Quality Monitors, with the Market to Reach $5.5 Billion Worldwide by 2026
SAN FRANCISCO, Dec. 8, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Indoor Air Quality Monitors - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 9; Released: November 2021
Executive Pool: 33598
Companies: 67 - Players covered include 3M Company; Aeroqual Ltd.; Camfil AB; Daikin North America LLC.; Emerson Electric Co.; Horiba, Ltd.; Lennox International Inc.; Panasonic Corporation; Siemens AG; Teledyne Technologies Incorporated; Testo SE & Co. KGaA; Thermo Fisher Scientific Inc.; Trane Technologies plc; Trion, Inc.; TSI Incorporated and Others.
Coverage: All major geographies and key segments
Segments: Product (Fixed Indoor Monitors, Portable Indoor Monitors); Pollutant Type (Chemical Pollutants, Physical Pollutants, Biological Pollutants); End-Use (Government Buildings, Commercial, Industrial, 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-
Global Indoor Air Quality Monitors Market to Reach US$5.5 Billion by the Year 2026
Indoor air quality is characterized by the ventilation conditions, humidity levels, ambient air temperature, and the prevalence of chemical and biological contaminants in air within a building. Indoor air quality monitors are used for identifying and monitoring potential air pollutants so that necessary action can be initiated for eliminating them. Growth in the global market is set to be driven by deteriorating air quality and consumer focus on ensuring air quality indoors. The market for air quality monitoring is also supported by rising consumer awareness, strict regulations related to monitoring and control of air quality, expanding application areas, and growing focus among people to lower health risks. The market growth is further stimulated by emergence of new technologies such as AI, IoT and automation that allow manufacturers to come up with advanced devices for real-time monitoring of indoor air quality. Indoor air quality monitors are enjoying immense attention amid the COVID-19 pandemic as various studies are linking enhanced air quality with fewer casualties. The need is prompting consumers to spend on advanced indoor air quality monitors to ensure proper air quality, temperature and humidity indoors. Owing to the regulations on environmental pollution, several industries such as food processing, chemicals and other process industries will generate long term demand for indoor air quality monitors post COVID-19 pandemic scenario.
Amid the COVID-19 crisis, the global market for Indoor Air Quality Monitors estimated at US$3 Billion in the year 2020, is projected to reach a revised size of US$5.5 Billion by 2026, growing at a CAGR of 9.9% over the analysis period. Fixed Indoor Monitors, one of the segments analyzed in the report, is projected to grow at a 9.5% CAGR to reach US$3.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Portable Indoor Monitors segment is readjusted to a revised 10.7% CAGR for the next 7-year period. This segment currently accounts for a 34.5% share of the global Indoor Air Quality Monitors market. The growth in the fixed monitors segment can be attributed to the technological benefits that these devices offer in terms of real-time monitoring and requirement for limited sample for analysis. Globally, demand for portable air quality monitors is rising, driven by increasing air pollution levels, as well as supportive regulations by government for maintaining sound air quality.
The U.S. Market is Estimated at $1.3 Billion in 2021, While China is Forecast to Reach $397.9 Million by 2026
The Indoor Air Quality Monitors market in the U.S. is estimated at US$1.3 Billion in the year 2021. The country currently accounts for a 39.3% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$397.9 Million in the year 2026 trailing a CAGR of 12.9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.9% and 9.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.5% CAGR while Rest of European market (as defined in the study) will reach US$557.5 Million by the end of the analysis period. The indoor air quality monitors market in North America and Europe is anticipated to be bolstered by favorable regulations, growing adoption of sophisticated systems and technological advances related to gas analyzers and particulate sensors. In addition, increasing public and private funding to promote implementation of indoor/outdoor air pollution monitoring systems is poised to set a perfect ground for expansion of the market in the two regions. Stringent regulations coupled with rapid industrialization and technological advances across countries including India and China are contributing to the market expansion in Asia-Pacific region. More
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