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Air Quality Monitoring System Market - Continuous R&D and Technological Advancements

Major Growth Driving Factors:

The growth of Air Quality Monitoring System Market is majorly driven by factors such as rising levels of air pollution, supportive government regulations for effective air pollution monitoring and control, and ongoing initiatives toward the development of environment-friendly industries. Adding to this, increasing public-private funding for effective air pollution monitoring, and the increasing public awareness related to the environmental and healthcare implications of air pollution also supports the growth of this market.

Projected Revenue Surge:

The global air quality monitoring system market is valued at USD 4.4 billion in 2021 and is expected to reach USD 5.9 billion by 2026, at a CAGR of 6.5% during the forecast period.

Restraint: High product cost

The high installation cost and high maintenance cost of conventional air monitoring system hinders the growth of the air quality monitoring system market. For instance, the installation of reference air quality monitoring stations is expensive and costs anywhere between USD 100,000–200,000 for a single station. In India, the cost of a single AQM station is estimated to be between USD 0.21–0.35 million (excluding the costs of yearly maintenance). The maintenance cost of pollution-monitoring stations is also high (up to 10% of the installation cost for overall maintenance during a 10-year period).

High costs associated with the purchase, establishment, and maintenance of AQM sensors as well as high establishment costs for AQM stations are further aggravated by the implementation of stringent pollution control policies across mature markets that require regulatory compliance for effective air pollution monitoring as well as data collection and data surveillance.

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The chemical pollutant segment, by pollutant, is expected to register the market share of the global air quality monitoring systems market in 2020

Based on pollutants, the global air quality monitoring system market is segmented into chemical pollutants, physical pollutants, and biological pollutants. The chemical pollutants segment accounted for the largest share of the global air quality monitoring systems market in 2020. This segment is projected to reach USD 4.43 billion in 2026. Market growth is mainly attributed to the rising levels of chemical air pollutants globally. In addition, the implementation of and the need to comply with stringent pollution monitoring and control regulations, growing public awareness, and the development and commercialization of innovative sensors are supporting the growth of this market segment.

Government agencies and academic institutes were the key end-users in the air quality monitoring systems market

Based on end user, the air quality monitoring system market is segmented into government agencies and academic institutes, commercial and residential users, petrochemical industry, power generation plants, pharmaceutical industry, smart city authorities, and other end users.

Government agencies and academic institutes commanded the largest share of the global air quality monitoring systems market in 2020. The demand of air quality monitoring devices among government agencies and academic institutions is driven by active government initiatives for effective air quality monitoring, increased number of research collaborations, and increased installation of AQM stations worldwide.

Recent Developments:

# In September 2020, Spektris (UK) launched the new ULTRA Series gas analyzer at Semicon Taiwan 2020.

# In February 2020, TSI Incorporated (US) introduced BlueSky Air Quality Monitor (Model 8143) to measure PM1, PM2.5, PM4 and PM10 mass concentrations, as well as temperature and humidity.

# In March 2019, Emerson Electric (US) launched Rosemount CT4400 Continuous Gas Analyzer with Quantum Cascade Laser (QCL) and Tunable Diode Laser (TDL) analyzer for Continuous emission monitoring.

Asia Pacific is expected to see the highest growth in the air quality monitoring system market by region

The global air quality monitoring system market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America is the largest regional market for air quality monitoring products, whereas the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period.

Countries in this market are witnessing growth in their GDPs and a significant rise in disposable income among the middle-class population. These developments have led to increased government spending by various regional governments, modernization of industrial and public infrastructures, and rising penetration of cutting-edge environmental monitoring technologies (especially in rural areas).

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Key Market Players:

As of 2020, the air quality monitoring system market was dominated by Thermo Fisher Scientific (US), 3M (US), Siemens (Germany), Teledyne Technologies (US), General Electric (US), Emerson Electric Company (US), Honeywell International Inc (US), HORIBA, Ltd. (Japan), Merck KGaA (Germany), and TSI Incorporated (US), among others.

on September 22 at 6:12

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