Pune, India, March 28, 2022 (GLOBE NEWSWIRE) -- Air Quality Monitoring System market size is projected to reach to USD 8.33 billion in 2028, at a CAGR of 7.5%. The global Air Quality Monitoring System market size was USD 4.86 billion in 2020. The global air quality monitoring system market is expected to emerge during the forecast period due to the surging demand and development of smart city projects in developing countries.
The report provides a detailed market outline, covering each facet of definitions, classifications, applications, and industry chain frameworks. It throws light on the crucial market dynamics, together with the current trends in the market. The report covers the analysis of various sectors in its entirety that propels the growth of the market like trends & opportunities, which may affect the market in a negative/positive way in the long run.
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.
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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 | Type, End-User, Regional |
| Growth Drivers | Favorable Government Subsidies and Policies to Drive Market Growth |
| Technological Advances and Rising Investments to Boost Market Development in Asia Pacific |
Air Quality Monitoring System Market Growth Drivers:
- 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.
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Air Quality Monitoring System Market Segments Analysis
- 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 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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The Report Lists the Key Companies in the Global Market
- Thermo Fisher Scientific (U.S.)
- Emerson Electric (U.S.)
- 3M Company (U.S.)
- Horiba, Ltd. (Japan)
- Siemens AG (Germany)
- Teledyne Technologies (U.S.)
- PerkinElmer (U.S.)
- Agilent Technologies (U.S.)
- Spectris (U.K.)
- Honeywell (U.S.)
- Merck (U.S.)
- TSI Incorporated (U.S.)
- Tisch Environmental (U.S.)
- Testo (Germany)
Global 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
By Geography:
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
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