(MENAFN- GlobeNewsWire - Nasdaq) DUBAI, United Arab Emirates, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The global air quality monitoring equipment market is expected to reach US$ 6.6 billion in 2023 and is predicted to record a CAGR of 7.3%. The market could reach a valuation of US$ 13.3 billion by 2033.
Air Pollution turns Detrimental to Public Health
Increasing air pollution levels has become a matter of public health concern. High levels of air pollution have led to a rise in pulmonary diseases, lung cancer, and cardiovascular ailments globally. This has called for a need to maintain precise air quality control measures. Hence, for the purpose of public welfare, it is mandated by the government to make meticulous air quality detection practices for factories and automobiles. Therefore, investments by automobiles and organizations in high-quality air quality monitoring equipment is increased to assure abidance by government safety regulations.
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Smart Cities Carve out Lucrative Market Prospects
Estimated smart cities are becoming important for the significant countries of the world. Large amount was invested in the smart city projects of the nation like nearly US$ 0.50 billion was invested in June 2021 in the nation's smart city projects. For smart city projects, high precision air quality monitoring systems play an important role and consequently cound impel innovations by the leading players enhancing the market growth.
Market players need to introduce affordable product variations to monitor air quality, which are easy to maintain and use. Since air quality control is rapidly emerging as a necessity of the modern world, key players are enegaged in developing affordable product variations, that require less maintenance and are more efficient.
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.
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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
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2017 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
TOC continued..!
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