The market for air quality monitoring equipment size is anticipated to grow at a CAGR of 7.3% and reach US$ 6.6 billion in 2023. By 2033, the market might be worth US$ 13.3 billion.
The rising levels of air pollution are now a worry for public health. Globally, the prevalence of lung cancer, cardiovascular disorders, and pulmonary diseases has increased as a result of high levels of air pollution. This has made it necessary to keep strict air quality management measures in place.
Therefore, the government requires that factories and cars implement thorough air quality detection procedures for the sake of the general public. To ensure that government safety regulations are followed, businesses and automotive manufacturers are increasing their investments in high-quality air quality monitoring technology.
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Smart Cities Carve out Lucrative Market Prospects
The world’s major nations are beginning to recognize the importance of building smart cities. A significant amount of money was invested in the nation’s smart city initiatives, including about US$ 0.50 billion in June 2021. High-precision air quality monitoring systems are crucial for smart city initiatives and, as a result, drive innovations from the top companies that boost the market growth.
Market players must launch reasonably priced, user-friendly air quality monitoring product options. Key players are working to create more inexpensive, maintenance-free, and effective product variations since air quality control is quickly becoming a requirement of the modern world.
Key Takeaways from the Report:
- Between 2017 and 2022, the market recorded a CAGR of 6.6, reaching a valuation of US$ 6.1 billion by 2022.
- The United Kingdom market is anticipated to reach a valuation of US$ 603.3 million by 2033, at a CAGR of 10.4%.
- The Indian market is expected to record a CAGR of 14.4% by 2033.
- The indoor air quality monitor segment is expected to register a CAGR of 7.6%, which is the top segment by equipment type.
- The top component segment is air sampling pumps which are likely to register a CAGR of 5.0% during the forecast period.
Key Market Developments:
- Vaisala Oyj, a technology-based company recently launched its innovative product named Mini-sized Humidity and Temperature Probe HMP9. This is specially designed to monitor air quality. The product is optimized for dryers, air-handling units, and test chambers. It also aids in effectively measuring humidity levels.
- In 2021, Ricardo launched a new air quality data analysis and monitoring system. Based in the Middle East Region, the company partnered with Envirozone LLC, for this initiative.
- In 2021, Ball Aerospace & Technologies Corp. announced its contract with National Oceanic and Atmospheric Administration’s Geostationary. The focus is on developing 3D data interpretation systems for forecasters. This can facilitate pollution management and efficient weather forecasting.
Key Players:
- SKC Ltd.
- Honeywell
- Thermo Fisher Scientific
- Vaisala
- ENVEA group
- TSI Incorporated
- Ecotech
- LumaSense Technologies, Inc.
- Modcon Systems Ltd.
- Testo SE & Co. KGaA
- Aeroqual Limited
- PCE Instruments
- Opsis AB
- Oizom Instruments Pvt. Ltd.
- Airthinx
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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
- Fixed Indoor Air Quality Monitors
- Portable Indoor Air Quality Monitors
- Outdoor Air Quality Monitors
- Fixed Outdoor Air Quality Monitors
- Portable Outdoor Air Quality Monitors
- Air Quality Monitoring (AQM) Stations
By End User:
- Residential
- Government Environment Monitoring Agencies
- Commercial
- Hotels & Restaurants
- Corporates & Academic Institutions
- Construction & Real Estate
- Others
- Industrial
- Energy & Utilities
- Pharmaceuticals
- Petrochemicals
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Japan
- GCC Countries
- The Middle East & Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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 based on Source, Application, Sales Channel, and End Use over the next 10 years.
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