Press release
Air Quality Control System Market Anticipated To Witness Robust Growth, Surpassing $156.01 Billion By 2029
Air Quality Control System
What Is the Current Air Quality Control System Market Size and Its Estimated Growth Rate?
The market size of the air quality control system has seen significant growth in the past few years. It is set to increase from $120.67 billion in 2024, reaching $127.11 billion by 2025, progressing at a compound annual growth rate (CAGR) of 5.3%. This growth during the historical period emerged due to tighter environmental regulations, increasing health consciousness, industrial expansion, urban growth, worldwide initiatives to combat global warming, healthcare expenditures, and concerns about productivity.
The market for air quality control systems is projected to experience significant growth in the coming years, reaching a value of $156.01 billion in 2029 with a compound annual growth rate (CAGR) of 5.3%. Factors contributing to this growth during the predicted period include the constant reinforcement of environmental policies, an increased focus on instantaneous monitoring, the implementation of smart city projects, the shift towards renewable energy sources, and focus on health and wellness. The forthcoming period also forecasts significant trends like the inclusion of IoT and AI in technological systems, progressive developments in control systems, progression in air quality monitoring technologies, advancements in sensor technology, data analysis, and visualization.
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How Are Emerging Segments Shaping the Air Quality Control System Market Landscape?
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
Subsegments:
1) By Indoor: Air Purifiers, HVAC Systems, Air Quality Monitors
2) By Ambient: Industrial Air Quality Monitors, Outdoor Air Quality Sensors, Emission Control Systems
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Which Growth Factors Are Influencing Air Quality Control System Market Expansion?
Increased worries about the standard of indoor air are projected to fuel the expansion of the air quality control system industry. Indoor air quality (IAQ) pertains to the standard of the surrounding atmosphere in buildings and other structures, concentrating on its effect on the well-being and comfort of the inhabitants. Air quality control mechanisms provide inclusive solutions to tackle and boost indoor air quality by eliminating pollutants, managing ventilation, adjusting humidity, and ameliorating the overall internal environmental quality. For instance, the American Lung Association, a professional organization based in the U.S., reported in April 2023 that almost 36% of Americans, or 119.6 million people, are living in areas with poor ozone or particle pollution ratings. Hence, the increasing apprehensions regarding indoor air quality will spur the progression of the air quality control system industry.
Who Are the Dominant Players Across Different Air Quality Control System Market Segments?
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
What Are the Latest Developing Trends in the Air Quality Control System Market?
Key players in the air quality control system market are focusing on the creation of products that leverage cutting-edge technologies, including the integration of smart IoT solutions into AQCS system, as a means to consolidate their market presence. IoT solutions utilising data gathered by IoT devices concentrate on data drawn from a specific sensor or various sensors to yield broader insights. For example, in March 2023, Siemens AG, a company based out of Germany that specialises in automation and digitalisation, launched the Connect Box through its subsidiary, Siemens Smart Infrastructure (SI). This represents an accessible, open-source IoT solution for managing buildings of small to medium-size. The latest addition to the Siemens Xcelerator line, Connect Box facilitates efficient monitoring of building performance and holds potential to significantly enhance indoor air quality and optimize energy efficiency by up to 30% in small to medium-sized structures including apartments, retail outlets, schools, and small office spaces.
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Which Geographic Regions Are Expected to Dominate the Air Quality Control System Market in the Coming Years?
Asia Pacificwas the largest region in the air quality control system market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the air quality control system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Air Quality Control System Market?
2. What is the CAGR expected in the Air Quality Control System Market?
3. What Are the Key Innovations Transforming the Air Quality Control System Industry?
4. Which Region Is Leading the Air Quality Control System Market?
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