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Air Quality Monitoring System Market worth $6.9 billion by 2028

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Air Quality Monitoring System Market worth $6.9 billion by 2028

February 12
18:30 2024
Air Quality Monitoring System Market worth $6.9 billion by 2028
The global air quality monitoring systems market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America accounts for the major share while asia pacific is witnessed to have the highest growth.
Browse 149 market data Tables and 38 Figures spread through 260 Pages and in-depth TOC on “Air Quality Monitoring System Market by Product (Indoor, Outdoor, Fixed, Portable, Wearable), Sampling, Pollutant (Chemical, Physical, Biological), End-User (Govt, Petrochemical, Residential, Smart City), & Region – Global Forecast to 2028

Air Quality Monitoring System Market in terms of revenue was estimated to be worth $4.9 Billion in 2023 and is poised to reach $6.9 Billion by 2028, growing at a CAGR of 7.0% from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth of this market is majorly driven by factors such as rise in the air pollution levels, development initiatives of environment-friendly industries, and supportive government regulations for effective air pollution monitoring and control. Adding to this, rising public-private funding for air pollution monitoring, and the increasing public awareness related to the environmental and healthcare implications of air pollution also helps the growth of this market during the forecast period.

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The stack monitoring segment is expected to register the highest growth in the forecast period of 2023-2028

Based on the sampling method, the air quality monitoring system is segmented into active/continuous, intermittent, passive, manual, and stack monitoring. In 2022, the active/continuous monitoring segment accounted the largest share of the global air quality monitoring systems market, whereas during the forecast period, the stack monitoring segment is projected to grow at the highest CAGR. Stack monitoring helps assess the emissions of harmful pollutants from industrial sources. By measuring and tracking these emissions, regulatory authorities can ensure that industries are complying with environmental regulations and emission standards, thus reducing the negative impact of industrial activities on the environment. The rising government emphasis on regulatory compliance for industrial pollution monitoring, low operational cost of stack monitoring, and the increasing emphasis on pollution monitoring & control are factors expected to support the growth of this market.

The fixed indoor monitors subsegment of indoor monitors holds the largest market share in 2022

On the product, the air quality monitoring systems market is classified into Indoor monitors,outdoor monitors and wearables. The indoor monitors is further classified into Fixed indoor and Portables Indoor,..In 2022, the fixed indoor monitors accounted for the largest share of the indoor monitors, primarily due to the growing need of controlled indoor environment maintainence and atmospheric gases and air pollutants levels monitoring inside facilities like manufacturing units, laboratories, and storage area, among others, particularly in pharma industries, biotech and microbiology industries, F&B industries, cosmetic industries, etc. Furthermore, another major factor driving the growth of the fixed indoor monitors market is the rising trend of development of commercial sites as smart buildings which can connect and communicate with technologically advanced devices for better air quality monitoring.

By Pollutant, Chemical Pollutant is witnessed to account for the largest segment of air quality monitoring systems in 2022.

Based on pollutant type, the global air quality monitoring systems market is segmented into chemical pollutants, physical pollutants, and biological pollutants.The chemical pollutants account for the highest growth in the Air quality monitoring systems market in 2022. In 2028, this segment is projected to reach USD 5.09 billion. Market growth is mainly attributed to the global rise in the levels of chemical air pollutants. In addition, the development and commercialization of innovative sensors, growing public awareness, and the implementation of stringent pollution monitoring and control regulations are supporting the growth of this market segment.

Government agencies and academic institutes accounted for the largest share of the global air quality monitoring systems market in 2022.

Based on end users, government agencies and academic institutes accounted for the largest segment in the air quality monitoring systems market due to the following attributes-. Accurate and up-to-date air quality data is crucial for evidence-based policymaking. Government agencies use monitoring data to develop and implement effective air quality management strategies and policies. These policies may include emission reduction programs, industrial regulations, transportation planning, and other initiatives to improve air quality. Monitoring air quality is crucial for protecting public health. Poor air quality can lead to a range of health problems, including respiratory and cardiovascular diseases. Government agencies track air pollution levels to assess potential health risks for the population and implement measures to reduce exposure to harmful pollutants.

By Region, Asia Pacific is expected to see the highest growth in the air quality monitoring systems market in 2022.

The global air quality monitoring systems market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America accounts for the major share while asia pacific is witnessed to have the highest growth.

North America has well-established environmental regulations that govern air quality standards and emissions from industrial facilities. Compliance with these regulations requires the use of air quality monitoring systems, which has driven demand in the region. North America is home to several leading air quality monitoring system manufacturers and technology developers. The region’s focus on research and development has resulted in innovative monitoring solutions that attract buyers from both domestic and international markets.

On a global scale, APAC is among the major contributors to air pollution and also due to growing pollution levels has a large patient population. The APAC region is experiencing increasing demand for air quality sensors and monitors that are mainly driven by large-scale industrialization, continuous government support for the development and commercialization of advanced products and implementation of stringent air pollution regulations across major Asian countries.

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Air Quality Monitoring System Market Dynamics:

Drivers:

  1. Active government initiatives for air pollution monitoring and control
  2. Growing concerns over rising air pollution
  3. Favorable public and private initiatives for environmental conservation and public awareness

Restraints:

  1. High product costs
  2. Technical limitations associated with a majority of AQM products

Opportunities:

  1. Continuous R&D and technological advancements
  2. Expected post-COVID-19 expansion of the petrochemical and power generation industries

Challenges:

  1. Slow implementation of air pollution control reforms
  2. Availability of alternate monitoring solutions

Key Market Players:

As of 2022, the air quality monitoring systems market was dominated by Thermo Fisher Scientific (US), 3M (US), Siemens (Germany), Teledyne Technologies (US), GE Healthcare (US), Emerson Electric Company (US), Honeywell International Inc (US), HORIBA, Ltd. (Japan), Merck KGaA (Germany), and TSI Incorporated (US), among others.

Recent Developments:

  • In March 2023, Siemens AG launched Connect Box, an open and easy-to-use IoT solution designed to manage small to medium-sized buildings.
  • In January 2023, Thermo Fisher Scientific acquired the Binding Site Group, this would help in expanding the company’s existing specialty diagnostics portfolio.
  • In January 2023, Teledyne Technologies Incorporated acquired ChartWorld, thus expanding the portfolios of Teledyne Marine segment. Teledyne now provides the electronic navigation charts and other value-added software information services directly to vessel pilots, owners and operators.

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