Increased investment by governments in better air quality will drive market growth
Market Size - USD 4.3 billion in 2020 Market Growth - 7% Market Trends - Need to monitor rising pollution levels in cities will drive market growth
The global air quality monitoring system market size is expected to reach USD 6.8 billion in 2028 at a CAGR of 7.0% according to a new report by Reports and Data. Air pollution affects environmental and ecological balance in ways that were unforeseen in nature, especially due to rising use of fuel-powered vehicles in densely populated and developing nations like India and China, poorly regulated use of fossil fuels in many countries and global warming, among other reasons. Governments have been allotting increasing portions of their budgets in controlling environmental pollution, which includes installation of air quality monitoring systems and smart city initiatives, which will act as powerful drivers to bolster air quality monitoring systems market growth over the forecast period.
According to figures from China's Ministry of Environmental Protection (MEP), over 100 haze days have occurred in Jing-Jin-Ji, the Yangtze River Delta (YRD), and the Pearl River Delta (PRD) in the last three years, with PM2.5 concentrations two to four times higher than WHO standards. Because of the potential for negative health consequences, these incidents have sparked widespread concern. Outdoor air pollution is a much more important public health concern than previously thought, according to recent figures from the 2010 Global Burden of Disease (GBD), leading annually to 2.1 million premature deaths in Asia. For the first time, outdoor air pollution is listed among the top ten global threats, as well as among the top five or six in Asia's developing countries.
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Air quality monitoring systems have high initial cost and moderate running costs. The high initial cost can restrain the market to a certain extent, but it is expected to do so for a limited period because increasing demand will result in lower prices. The running cost is because of the regular replacement of the air filter, which is not a major cost but may not be affordable for every individual user.
Key Highlights From The Report:
-- The market has been divided into indoor and outdoor monitoring systems based on product type. The outdoor segment dominated the market in 2020.
-- Fixed systems accounted for a greater share of the market in 2020, owing to an increase in the number of air quality monitoring station installations in public places.
-- The market has been divided into chemical and physical segments based on pollutants. Because of rising vehicular emissions, which include harmful pollutants like carbon monoxide, the chemical segment dominated the market in 2020.
-- Due to modernised architectures of real-time applications, hardware will account for the largest revenue share in 2020.
-- In 2020, the oil and gas end-use segment dominated the manufacturing end-use segment. The rapid expansion of oil and gas pipeline networks has resulted from rising demand for natural gas and petroleum.
-- In 2020, the industrial segment had the largest market share and is projected to grow at the fastest rate over the next six years.
-- Due to the rising prevalence of respiratory and cardiovascular diseases caused by air pollution in various cities across the country, Asia Pacific is expected to grow at the fastest rate during the forecast period.
Some of the key vendors in the market are:
-- Emerson Electric Co.
-- General Electric Company
-- HORIBA, Ltd.
-- Siemens AG
-- Teledyne Technologies Incorporated
-- Thermo Fisher Scientific, Inc.
Air Quality Monitoring System Market Size, Share & Trends Analysis Report By Product Type (Indoor, Outdoor), By Pollutant (Physical, Chemical), By Component, By End Use (Industrial, Commercial), And Segment Forecast To 2028; To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/air-quality-monitoring-system-market
Segments Covered under the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2028. For this study, Reports and Data has segmented the global air quality monitoring system market report based on product type, pollutant, component, end-use, and region:
-- Product Type Outlook (Revenue, USD Million, 2018 - 2028)
-- Pollutant Outlook (Revenue, USD Million, 2018 - 2028)
-- Nitrogen Oxides
-- Sulfur Oxides
-- Carbon Oxides
-- Volatile Organic Compounds
-- Component Outlook (Revenue, USD Million, 2018 - 2028)
-- Output devices
-- End-use Outlook (Revenue, USD Million, 2018 - 2028)
-- Oil & Gas
-- Oil & Gas
-- Food & Beverages
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-- Region Outlook (Revenue, USD Million; 2018 - 2028)
-- North America
-- North America
-- The U.S.
-- Asia Pacific
-- Latin America
-- Middle East & Africa
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