Sales of Air Quality Monitoring Equipment to Double by 2029; Demand for Indoor Application on Rise, Says a New Future Market Insights Study
Statutory bodies are introducing stringent regulation and compliances to mitigate air pollution concerns.
The global air quality monitoring equipment market will surpass US$ 10 Bn mark through 2029, witnessing two-fold growth in its revenues from 2019 to 2029. According to a new study by Future Market Insights (FMI), government monitoring of industrial sectors such as pharmaceuticals will remain the central drivers of growth during the forecast period.
Key Research Findings of FMI’s Air Quality Monitoring Equipment Market Study
- North America maintains stronghold on total market value, followed by Europe.
- Asia Pacific excluding Japan will present market players with the most gainful opportunities.
- Indoor air quality monitoring equipment sales will grow 3X compared to their outdoor counterparts by 2029.
- Residential sector will generate lucrative growth opportunities for manufacturers.
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Key Growth Drivers – Air Quality Monitoring Equipment Market
- Incremental investments in infrastructure will drive demand in developing economies.
- Glaring air pollution levels drive the global demand for air quality monitoring equipment.
- Proactive government monitoring agencies drive mass adoption in their respective countries.
- Indoor air quality monitors offer remunerative growth opportunities on the back of smart infrastructure in major economies.
Key Impediments – Air Quality Monitoring Equipment Market
- Lack of consumer awareness in rural areas limit the growth potential of air quality equipment manufacturing.
- Minimal statutory regulations in various under-development economies weaken the demand.
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Market Structure Analysis
Disruptive advancements in air quality monitoring by leveraging Internet of Things (IoT), Machine Learning (ML), and Artificial Intelligence (AI) form a highly competitive and fragmented marketplace. Leading organizations are focused on footprint expansion by forging strategic partnerships, mergers, and acquisitions.
Noteworthy manufacturers from the air quality monitoring equipment market include, but are not limited to SKC Ltd, TSI Incorporated, Aeroqual Limited, Thermo Fisher Scientific, Testo, Honeywell, PCE Instruments, and LumaSense Technologies.