Pune, India, Aug. 01, 2022 (GLOBE NEWSWIRE) — According to Fortune Business Insights, the Air Quality Monitoring Systems Market Size is expected to reach USD 8.33 billion by 2028 and grow at a CAGR of 7.5% during the forecast period. The market size stood at USD 4.86 billion in 2020 and USD 5.02 billion in 2021 respectively. Rising demand and development of smart city projects in developing countries across the globe is driving the growth of the market.
The air quality monitoring system is used to measure specific pollutants in the air, also known as “criteria air pollutants”. It identifies sulfur dioxide, particulates, carbon monoxide, volatile organic compounds and nitrous oxide. Growing demand for air quality improvement is expected to drive the market in the coming years.
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|Forecast Period 2021 to 2028 CAGR||7.5%|
|2028 value projection||$8.33 billion|
|Year of reference||2020|
|Market size in 2020||$4.86 billion|
|Historical data for||2017-2019|
|Number of pages||155|
|Segments Covered||By type (indoor monitors and outdoor monitors) By end user (commercial and residential, public infrastructure, power plants, pharmaceutical industry and others) and regional|
|Growth engines||Growing Developments in Emerging Countries to Propel Market Growth|
|New Acquisition Empowers Key Players to Boost Company Performance|
Market drivers and constraints:
Growing Developments in Emerging Countries to Propel Market Growth
The market is expected to witness significant growth over the forecast period owing to the growing government initiatives for environmental conservation. Rising demand for smart city development projects in developing countries is expected to propel the growth of the market. Moreover, increasing investments from governmental and non-governmental organizations to finance the projects enhance the expansion of the market by increasing the production rate and the profitability of the enterprises. The requirement for improved and pollution-free air is likely to ensure the growth of the air quality monitoring systems market in the coming years.
However, high production and maintenance costs may hamper the market growth.
Impact of COVID-19:
Revised import/export policies to restrict supply chain
The COVID-19 virus outbreak has affected the economy of various countries and slowed down the market growth due to the limitation in production and manufacturing activities. Local and central government of various countries have imposed strict restrictions on import/export policies to control the spread of the virus, which has affected the production rate as well as the supply chain management of enterprises. Additionally, the capacity of the workforce operating in an organization is reduced to maintain social distancing norms and maintain all precautionary measures.
To learn more about the short and long term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/air-quality-monitoring-system-market-105614
The Air Quality Monitoring Systems Market research report contains factual data and in-depth information on market growth opportunities and key industry developments. Additionally, the report sheds light on key developments and advancements adopted by companies operating in the industry. These developments are strategic alliances, mergers, acquisitions and partnerships. In addition, drivers and restraints affecting industrial development are highlighted along with the impact of COVID-19 pandemic on market growth. The report aims to provide comprehensive and up-to-date information for market analysis.
Indoor Monitors to Drive Market Growth
By monitor type, the market is split into indoor monitors and outdoor monitors.
On the basis of end users, the market is segmented into commercial and residential, public infrastructure, power plants, pharmaceutical industry and others.
Finally, by region, the market is classified into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Asia-Pacific dominates the market due to modernization
Asia-Pacific holds the largest global air quality monitoring system market share, where the region was worth USD 1.54 billion in 2020 and dominated the market. Modernization and development of industrial infrastructure is expected to drive the market over the forecast period.
North America holds the second position in the global market owing to the presence of key manufacturers in the industry. Industry innovation is likely to propel market growth and maintain market position.
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New Acquisition Empowers Key Players to Boost Company Performance
The major players in the market are focusing on forming strategic alliances and partnerships with the supporting organizations to propel the growth of the market. In addition, companies focus on implementing innovation strategies to develop new product lines and improve their product portfolio.
Industry key development:
- November 2021: Kontrol Technologies has entered into a distribution agreement with Airmaster Corporation and its subsidiary Optimum Air and Daikin Australia Pty Ltd. The acquisition focuses on real-time monitoring and detection of airborne pathogens to produce safer spaces.
- ·October 2021: The Government of Manitoba has purchased a new air monitoring station to support better air quality in the region. It is responsible for strengthening responsiveness to environmental emergencies according to the press release from the Minister of Conservation and Climate.
A list of major manufacturers operating in the global market:
- Thermo Fisher Scientific
- Emerson Electric
- 3M Company
- Horiba, Ltd.
- Siemens AG
- Teledyne Technologies
- Perkin Elmer
- TSI Incorporated
- Tisch Environment
Air Quality Monitoring System Market Segmentation:
- Indoor monitors
- Outdoor monitors
Per end user:
- commercial residential
- Public infrastructure
- Power generation plants
- Pharmaceutical industry
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1.1. Search scope
1.2. Market segmentation
1.3. Research Methodology
1.4. Definitions and assumptions
3. Market dynamics
3.1. Market factors
3.2. Market constraints
3.3. Market opportunities
4. key ideas
4.1. Main emerging trends – for main countries
4.2. Latest technological advancement
4.3. Regulatory landscape
4.4. Analysis of the five forces of carriers
5. Qualitative Analysis – Impact of COVID-19
5.1. Impact of COVID-19 on the Air Quality Monitoring System market
5.2. Measures taken by the government to overcome the impact
5.3. Key Industry Developments in Response to COVID-19
5.4. Potential Opportunities and Challenges Due to the COVID-19 Outbreak
6. Global Air Quality Monitoring System Market Analysis (USD Billion), Outlook and Forecast, 2017-2028
6.1. Main results/summary
6.2. Market Analysis, Outlook and Forecast – By Type
6.2.1. Indoor monitors
6.2.2. Outdoor monitors
6.3. Market Analysis, Outlook and Forecast – By End User
6.3.1. commercial residential
6.3.2. Public infrastructure
6.3.3. Power stations
6.3.4. Pharmaceutical industry
6.4. Market Analysis, Outlook and Forecast – By Region
6.4.1. North America
6.4.2. Latin America
6.4.4. Asia Pacific
6.4.5. Middle East and Africa
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