The market for air quality monitoring equipment was valued at approximately US$ 5,727.4 Mn in 2021 and is anticipated to grow at a CAGR of 7.3 percent to US$ 10,042.8 Mn by 2029. Nearly 45% of the market for environmental monitoring is made up of air quality monitoring equipment.
| 2022 Market Value | US$ 6,122.1 Mn |
| 2029 Market Value | US$ 10,042.8 Mn |
| CAGR% (2022-2029) | 7.3% |
| Share of Top 5 Players | 20% |
By 2029, the market for air quality monitoring equipment is expected to grow at a CAGR of 7.3% and be worth $10,042.8 Mn. The development of smart air quality metres and the expansion of private-public partnerships for air pollution monitoring are two aspects that could lead to market expansion opportunities for air quality monitoring equipment.
The fast industrialization in developing economies throughout the world and rising air pollution, among other factors, are expected to fuel the expansion of the market for air quality monitoring equipment, according to a report by FMI.
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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 :
- Residential
- Government Environment Monitoring Agencies
- Commercial
- Industrial
By Region :
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Japan
- GCC Countries
- Middle East & Africa
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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.
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