Air Quality Monitoring Equipment Market is slated to increase at a CAGR of 7.3% to reach a valuation of US$ 10,042.8 Mn by 2029. The emergence of smart air quality meters and growing partnerships between private-public institutions for air pollution monitoring are factors creating potential growth opportunities for the air quality monitoring equipment market.
According to FMI’s report, factors such as rising air pollution, increasing government initiatives on reducing air pollution, and rapid industrialization in developing economies across the globe are projected to drive the growth of the air quality monitoring equipment market.
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Key Takeaways of Air Quality Monitoring Equipment Market Study
- Continuous rise in air pollution levels in urban areas and stringent government regulations and laws towards environmental protection are expected to boost the air quality monitoring equipment market growth.
- North America dominated the air quality monitoring equipment market in 2021 in terms of revenue, owing to the presence of early technology adopters in developed countries such as the U.S. and Canada.
- The adoption of indoor air quality monitors is expected to gain significant traction during the forecast period, owing to the increasing demand for smart air quality monitors in smart cities across the globe.
- Demand for air quality monitoring equipment solutions in the residential sector is expected to increase at a striking CAGR during the forecast period, owing to increasing demand for IoT-based indoor air quality monitors in pharmaceutical and petrochemical industries.
- Lack of awareness about indoor air pollution and dearth of strict regulations for air quality monitoring in various countries are some of the factors hindering the growth of the air quality monitoring equipment market.
Increasing Focus of Key Players on Product Innovation
Companies in the air quality monitoring equipment market are investing more towards advanced technologies like IoT and Machine Learning (ML) to develop advanced air quality monitoring equipment to minimize indoor and outdoor air pollution. Leading players are adopting business expansion, acquisition, and collaboration strategies in a bid to capture a significant share of the global market.
- For instance, in July 2022, SKC Ltd acquired Colormetric Laboratories, Inc. (CLI) to add CLI products, longstanding sampling solutions that help maintain the health and safety of workers. The company looks forward to continuing to provide the same great CLI products with excellent customer and technical support.
Some of the key players in the air quality monitoring equipment market are SKC Ltd, TSI Incorporated, Aeroqual Limited, Thermo Fisher Scientific, Testo, Honeywell, PCE Instruments, Opsis AB, Ecotech, ENVEA group, Vaisala, LumaSense Technologies, and Oizom Instruments.
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Air Quality Monitoring Equipment Outlook by Category
By Component :
- Air Sampling Pumps
- Sorbent Tubes
- Filters & Membranes
- Sample Bags
- Other Accessories
By Equipment Type :
- Indoor Air Quality Monitors
- Outdoor Air Quality Monitors
By End User :
- Government Environment Monitoring Agencies
By Region :
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- GCC Countries
- Middle East & Africa
More Valuable Insights on Air Quality Monitoring Equipment Market
Future Market Insights puts forward an unbiased analysis of the global air quality monitoring equipment market, providing historical data of 2014-2021 and forecast statistics for 2022-2029. To understand the opportunities in the air quality monitoring equipment market, the market has been segmented on the basis of component, equipment type, and end user, across seven major regions.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.