Press release
Air Quality Control System Market Growth Statistics, Regional Analysis, Top Players, Size, And Forecast To 2033
Air Quality Control System Market Analysis
The Business Research Company presents an extensive market research report on the Air Quality Control System Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The air quality control system market size has grown strongly in recent years. It will grow from $114.45 billion in 2023 to $120.67 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to stringent environmental regulations, rising awareness of health impacts, industrial growth and urbanization, global efforts to combat climate change, healthcare costs and productivity concerns.
The air quality control system market size is expected to see strong growth in the next few years. It will grow to $148.11 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to continued strengthening of environmental policies, growing emphasis on real-time monitoring, expansion of smart cities initiatives, adoption of renewable energy sources, health and wellness prioritization. Major trends in the forecast period include integration of iot and ai technologies, technological innovations in control systems, advancements in air quality monitoring technologies, sensor technology advancements, data analytics and visualization.
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Key Market Players:
Major companies operating in the air quality control system market report are Siemens AG, General Electric Company, Thermo Fisher Scientific, Honeywell International Inc., 3M, Mitsubishi Hitachi Power Systems Ltd., Anguil Environmental Systems, Inc., ENVEA Group, Daikin Industries Ltd., Johnson Controls International plc, Alstom SA, Camfil AB, ANDRITZ AG, GEA Group Aktiengesellschaft, MANN+HUMMEL Group, Donaldson Company Inc., Pall Corporation, Dürr AG, Thermax Limited, Babcock & Wilcox Enterprises Inc., Calgon Carbon Corporation, Clyde Bergemann Power Group, Doosan Lentjes GmbH, Balcke-Dürr GmbH, Fuel Tech Inc., Sierra Instruments Inc., Bühler Technologies GmbH, Foster Wheeler AG, Hamon Corporation
Market Drivers:
Growing concerns about indoor air quality are expected to propel the growth of the air quality control system market. Indoor air quality (IAQ) refers to the quality of the air within and surrounding buildings and other structures, with a focus on how it affects the comfort and health of building inhabitants. Air quality control systems offer comprehensive solutions for addressing and improving indoor air quality by removing pollutants, controlling ventilation, regulating humidity, and enhancing overall indoor environmental quality. For instance, in December 2023, according to the World Health Organization (WHO), a Switzerland-based intergovernmental organization working to promote health, household air pollution was linked to an estimated 3.2 million annual fatalities, including approximately 237000 deaths of children under the age of five in 2020. Additionally, in April 2023, according to the American Lung Association, a US-based professional organization, 119.6 million Americans, or almost 36% of the country's population, continue to reside in areas with unfavorable ozone or particle pollution ratings. Therefore, the growing concerns about indoor air quality will drive the growth of the air quality control system market.
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The air quality control system market covered in this report is segmented -
1) By Product Type: Indoor, Ambient
2) By Pollutant Type: Gas, VOC, Dust, Other Pollutant Types
3) By Application: Tunnels, Air Terminals, Underground Garages, Public Transportation Stations, Air Pollution Control, Automobile, Other Applications
4) By End-User Industry: Powertrain Management, Energy ANd Power, Mining, Agriculture, Semiconductor, Medical and Pharma, Commercial and Residential, Transportation, Other End-User Industries
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