The forecast period is expected to see a moderately paced CAGR of 7.3% for the global market for pollution monitoring equipment. In 2022, the market is expected to be worth US$7,665 million. By the year 2032, it is predicted that the market for pollution monitoring equipment will reach a high of US$ 15,445 Million. The experts at Future Market Insights have calculated a historical CAGR of 6.3% for the relevant market.
Due to its capacity to identify and assist in monitoring the presence of pollutants, pollution monitoring equipment has seen an increase in demand in recent years, ensuring improved environmental conditions for the populace. Utilizing pollution monitoring tools also helps people live healthier lives and reduces the likelihood of developing any health problems.
Pollution Monitoring Equipment: Market Dynamics
Expanding compliance requirements, stringent government regulations on pollution control, and continuous improvement in mandatory reporting structure by various environmental agencies are the key factors contributes the growth of global pollution monitoring equipment market.
Additionally, global initiatives to reduce pollution, growing awareness among governments to reduce environmental pollution and increasing investment in environmental management solutions, further accelerates the growth of global pollution monitoring equipment market.
Also, rising health concerns related to air pollution, growing awareness on green building technologies and increasing focus on utilizing emissions real time data & analytics solutions to improve efficiency further expected to fuel the growth of global pollution monitoring equipment market.
However, high deployment cost to integrate with the existing system and lack of awareness regarding the potential benefits of pollution monitoring systems are the factors identified as restraints likely to deter the progression of the global pollution monitoring systems market.
Competitive Landscape:
The key players proliferating in the forum are focusing on introducing new products and enhancing their product offerings to better cater to the changing needs of the end-user industries while retaining their competitiveness globally.
There is keen attention paid by the market players to the maintenance of the quality of products and innovation. They are also trying to diversify their range of manufacturing, indulging in mergers and acquisitions, and adopting organic growth strategies for a strong foothold in the global market.
Recent Developments in the Pollution Monitoring Equipment Market:
- In February 2021, the Madhya Pradesh Pollution Control Board (MPPCB) launched a tender to erect air quality monitoring stations in a number of cities in Madhya Pradesh, India. The qualified bidders will supply, install, and commission pollution monitoring systems at 9 Ambient Air Quality Monitoring Stations. In addition, they are responsible for the systems for transmitting online data to CPCB and MPPCB servers.
- In November 2021, the Vietnamese government announced a revised plan for the country’s air quality management. The National Plan for Air Quality Management (2021-2025) includes emission controls from sources like industries, transport, agriculture, and construction activities, by installing continuous automatic emissions monitoring equipment.
