Air Quality Monitoring Market: Key players profiled in the report include Emerson Electric Co, General Electric Company, Siemens AG, Testo AG, 3M Company, Horiba, Ltd., Merck KGaA, Teledyne Technologies Inc., Servomex Group Ltd
The global market is expected to garner $6,889 million by 2022, registering a CAGR of 9.2% during the period 2016-2022. North America, followed by Europe, dominates the global market due to implementation of stringent government regulations and growing awareness regarding health issues caused due to air pollution.
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Air pollution level has increased at a rapid rate across the globe, owing to rapid industrialization, urbanization upsurge in automotive production. Moreover, the increased use of fossil fuels such as coal, natural gas and gasoline in power plants and vehicles have further worsened the conditions. Thus, air quality monitors gaining traction among residential and commercial premises to monitor the level of various pollutants.
Market players offer air quality monitors in two basic categories, namely indoor and outdoor. Indoor air quality monitors segment dominates the global market, owing to increase in prevalence of smart home and green building concepts and growing consumer preference for pollution-free indoor environment. Emerging government regulations and new building standards have increased the deployment of air quality monitors worldwide. Outdoor air quality monitor segment is expected to grow rapidly due to increase in use of air quality monitoring systems in industrial establishments and upsurge in installation of air quality monitoring network.
Air quality monitors are used to quantitatively monitor the chemical, biological, and physical pollutants. Chemical pollutant segment dominates the market due to increased level of toxic pollutants in air. Air quality monitors would continue to find demand to detect the physical pollutant due to increased level of pollutants such as dust, smoke especially in emerging countries.
Air quality monitors are used in various industrial sectors such as oil and gas, power generation plants, food & beverages, and pharmaceutical. Moreover, commercial and residential premises, government agencies, and academic institutes are the key end users of these monitors. Government agencies and academic institutes segments dominate the market due to their burgeoning in research laboratories and government offices. Stringent government norms for industrial sector regarding air quality monitoring are expected to boost their demand in power generation plants and oil and gas sectors.
The market is segmented on the basis of four regions, namely, North America, Europe, Asia-Pacific, and LAMEA. North America and Europe regions account for majority of the market share, owing to stringent government regulations and growing awareness about health problems caused due to exposure to polluted air. Asia-Pacific and LAMEA regions are expected to grow at a comparatively higher rate due to implementation of government norms regarding air quality for industrial customers. The U.S. and China have emerged as prominent markets for air quality monitors across the globe due to heavy air pollution in these countries.
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Key findings of air quality monitoring market study:
• The global air quality monitoring market has witnessed steady growth in the recent years, owing to increasing level of air pollution across the globe.
• The outdoor air quality monitor segment is anticipated to grow at the fastest rate owing to rapid urbanization and industrialization in emerging economies.
• The chemical pollutant segment dominates the market due to commercialization of gas and chemical detection sensors.
• China and India have emerged as the prominent markets in the Asia-Pacific region, owing to increasing pollution in these countries.
• Market players have launched innovative solutions to increase their geographical outreach.
The key player profiled in the report include Emerson Electric Co., General Electric Company, Siemens AG, Testo AG, 3M Company, Horiba, Ltd., Merck KGAA, Teledyne Technologies Inc., Servomex Group Ltd., and Thermo Fisher Scientific, Inc. Market players have adopted product launch as their primary development strategy due to their growing focus on catering to the emerging needs of customers.
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