The air quality monitoring equipment market is expected to reach US$ 7,668.0 Mn by 2026. The market is projected to expand at a CAGR of 8.41% during the forecast period from 2018 to 2026. According to the report, the air quality monitoring equipment market will continue to be influenced by the dramatic rise in air pollution levels across the globe especially in emerging economies such as China and India. Europe is projected to be at the forefront of global demand, with the market in the region growing at a CAGR of above 6.8% through 2026.
Gas analyzers and detectors to be the fastest growing segment throughout the forecast period
The air quality monitoring equipment market is segmented by type into air pollution sampler, anemometers, gas analyzers and detectors, particle counter, and others. The gas analyzers and detectors segment had major revenue share in 2017 because of its widespread adoption for indoor as well as outdoor air quality monitoring by various end-users. The gas analyzers and detectors segment is anticipated to expand at a significant CAGR of 8.84% throughout the forecast period.
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Chemical segment to witness healthy growth during the forecast period
In terms of end-user, the air quality monitoring equipment market is segmented into power generation, oil and gas, medical, construction, chemical, and others.The chemical segment is expected to be the fastest growing segment throughout the forecast period. This fast pace of growth can be attributed to the increasing demand from the chemical industry for the monitoring of ambient air quality. The chemical segment is expected to expand at a healthy CAGR of 9.57% over the forecast period.
Europe expected to continue to hold significant share in the overall market
Europe is expected to hold highest market share in the air quality monitoring equipment market during the forecast period. This is mainly due to the increasing demand for air quality monitoring equipment in the wake of rising air pollution and its adverse effects on human health.
Air quality monitoring equipment is gaining popularity across the Asia Pacific region, especially across economies such as China and India. This growth can be attributed to the dramatic rise in air pollutant levels which is leading to hazardous health effects. In the wake of such degrading air quality, the governments of the countries are ensuring that the guidelines formed to curb pollution are implemented correctly. For instance, in July 2018, the Maharashtra Pollution Control Board (MPCB) in India, conducted daily tests in various cities for long term assessment of air pollutant levels by measuring the quantity and type of air pollutants in the surrounding outdoor air.
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Furthermore, the market in Middle East & Africa region is witnessing steady growth due to the growing concerns arising out of air pollution as well as government norms and regulations to curb air pollution. This represents significant growth opportunities for air quality monitoring equipment which would experience a spike in demand for their deployment in the industrial as well as residential sectors.
Aeroqual, Ecotech, Vaisala, Teledyne Technologies Incorporated, Thermo Fisher Scientific, Inc., TSI Inc., Horiba Ltd., CEM Corporation, Siemens AG, and Kaiterra, among others are the key players of this market. Details such as financials, business strategies, recent developments, product implementation expertise, key contracts, certified professionals, air quality monitoring systems offerings, and other such strategic information pertaining to these players have been duly provided as part of company profiling.