Pune, India, Aug. 01, 2022 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the air quality monitoring system market size is projected to hit USD 8.33 Billion by 2028 and exhibit 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. The surging demand and development of smart city projects in developing countries globally are driving the growth of the market.
The air quality monitoring system is used to measure particular pollutants present in the air which is also known as “criteria air pollutants”. It identifies sulfur dioxide, particulate matter, carbon monoxide, volatile organic compounds, and nitrous oxide. Rising demand for improved air quality is expected to boost the market in upcoming years.
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| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 7.5% |
| 2028 Value Projection | USD 8.33 billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 4.86 billion |
| Historical Data for | 2017-2019 |
| No. of Pages | 155 |
| Segments covered | By Type (Indoor Monitors and Outdoor Monitors) By End-User (Commercial & Residential, Public Infrastructure, Power Generation Plants, Pharmaceutical Industry, and Others), and Regional |
| Growth Drivers | Rising Developments in Emerging Countries to Propel Market Growth |
| New Acquisition Allows Key Players to Boost Business Performance |
Market Drivers & Restraints:
Rising Developments in Emerging Countries to Propel Market Growth
The market is anticipated to witness prominent growth during the forecast period owing to the rising initiatives by the government for environment conservation. Surging demand for smart city development projects in developing countries is likely to propel market growth. Furthermore, the increasing investments by government and non-government organizations to finance the projects bolster market expansion by increasing production rate and business profitability. Requirement for improved and pollution free air is likely to ensure air quality monitoring system market growth in the upcoming years.
However, high production and maintenance costs may hinder the market growth.
COVID-19 Impact:
Revised Import/Export Policies to Restrict Supply Chain
The outbreak of the COVID-19 virus has affected various countries economically and declined market growth due to restricted production and manufacturing activities. The local and central government in various countries has imposed stringent restrictions on import/export policies to control the virus spread which affected production rate as well as supply chain management for the companies. Also, the workforce capacity operating in an organization is reduced to maintain social distancing norms and maintain all the precautionary measures.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/air-quality-monitoring-system-market-105614
Report Coverage:
The research report for air quality monitoring system market contains factual data and detailed information regarding market growth opportunities and key developments in the industry. Also, the report sheds light on major developments and advancements adopted by the companies operating in the industry. These developments are strategic alliances, mergers, acquisitions, and partnerships. Furthermore, the drivers and restraints affecting industrial development are highlighted along with the impact of the COVID-19 pandemic on market growth. The report aims on providing complete and latest information for market analysis.
Segments:
Indoor Monitors to Stimulate Market Growth
By monitor type, the market is bifurcated into indoor monitors and outdoor monitors.
Based on the end-users, the market is segmented into commercial & residential, public infrastructure, power generation plants, pharmaceutical industry, and others.
Finally, by region, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Regional Insights:
Asia Pacific Dominates Market Due to Modernization
Asia Pacific holds the most prominent global air quality monitoring system market share wherein 2020 the region stood at USD 1.54 billion and dominated the market. Modernization and developing industrial infrastructures are expected to drive the market during the forecast period.
North America holds the second-largest global market position owing to the presence of key manufacturers in the industry. Innovation in the industry is likely to propel market growth and sustain the market position.
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Competitive Landscape:
New Acquisition Allows Key Players to Boost Business Performance
Key players in the market focus on forming strategic alliances and partnerships with the supporting organizations to propel market growth. Also, companies focus on implementing innovation strategies to develop new product range and enhance their product portfolio.
Key Industry Development:
- November 2021: Kontrol Technologies secured distribution agreement with Airmaster Corporation and its subsidiary Optimum Air and Daikin Australia Pty Ltd. The acquisition focuses on providing real-time monitoring and detection of airborne pathogens to produce safer spaces.
- ·October 2021: The Manitoba government acquired a new air monitoring station to support better air quality in the region. It is responsible to boost responsiveness to emergencies regarding the environment according to the statement by the conservation and climate minister.
A List of Key Manufacturers Operating in the Global Market:
- Thermo Fisher Scientific
- Emerson Electric
- 3M Company
- Horiba, Ltd.
- Siemens AG
- Teledyne Technologies
- PerkinElmer
- Agilent Technologies
- Spectris
- Honeywell
- Merck
- TSI Incorporated
- Tisch Environmental
- Testo
Air Quality Monitoring System Market Segmentation:
By Type:
- Indoor Monitors
- Outdoor Monitors
By End-User:
- Commercial & Residential
- Public Infrastructure
- Power generation plants
- Pharmaceutical Industry
- Others
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Table of Content:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Regulatory Landscape
4.4. Porters Five Forces Analysis
5. Qualitative Analysis – Impact of COVID-19
5.1. Impact of COVID-19 on the Air Quality Monitoring System Market
5.2. Steps Taken by the Government to Overcome the Impact
5.3. Key Developments in the Industry in Response to COVID-19
5.4. Potential Opportunities and Challenges due to COVID-19 Outbreak
6. Global Air Quality Monitoring System Market Analysis (USD Billion), Insights and Forecast, 2017-2028
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Type
6.2.1. Indoor Monitors
6.2.2. Outdoor Monitors
6.3. Market Analysis, Insights and Forecast – By End-User
6.3.1. Commercial & Residential
6.3.2. Public Infrastructure
6.3.3. Power Generation Plants
6.3.4. Pharmaceutical Industry
6.3.5. Others
6.4. Market Analysis, Insights and Forecast – By Region
6.4.1. North America
6.4.2. Latin America
6.4.3. Europe
6.4.4. Asia Pacific
6.4.5. Middle East and Africa
Continued…
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