The global market for air quality monitoring equipment market is poised for significant growth, projected to increase from USD 6.6 billion in 2023 to an estimated USD 13.3 billion by 2033. This expansion reflects a robust Compound Annual Growth Rate (CAGR) of 7.3%, underscoring increasing awareness and stringent regulatory measures aimed at enhancing air quality worldwide.
Air quality monitoring equipment constitutes a substantial portion, approximately 45%, of the broader environmental monitoring market. The escalating demand for these systems is driven by growing environmental concerns and the need for accurate pollutant detection and mitigation strategies.
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Smart Cities Carve out Lucrative Market Prospects
The world’s major nations are beginning to recognise 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 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 is 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
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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