Air Quality Monitoring System Market Size to Hit USD 8.33 Billion by 2028 | Modernizing Industrial Infrastructure to Propel Market Growth

·6 min read
Fortune Business Insights
Fortune Business Insights

The global air quality monitoring system market size expected to grow from USD 5.02 billion in 2021 to USD 8.33 billion, at CAGR of 7.5%. Kontrol Technologies Secured Agreement to Ensure Environment Safety.

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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