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Air Quality Control System Market on Track for Strong Growth, Estimated to Grow at 5% CAGR Through 2029
Air Quality Control System
What Is the Expected CAGR for the Air Quality Control System Market Through 2025?
Over the past few years, there has been a consistent expansion in the size of the air quality control system market. It's anticipated to increase from $120.67 billion in 2024 to reach $125.4 billion in 2025, with a compound annual growth rate (CAGR) of 3.9%. The historic growth of this market has been driven by factors such as rigorous environmental laws, heightened health impact awareness, industrial development, urbanization, global initiatives to tackle climate change, healthcare expenses, and worries about productivity.
What's the Projected Size of the Global Air Quality Control System Market by 2029?
Expectations are high for consistent growth in the air quality control system market over the coming years. Projections put the market size at $152.15 billion by 2029, at a compound annual growth rate (CAGR) of 5.0%. Factors contributing to this growth within the forecast period include the ongoing reinforcement of environmental policies, increased importance placed on real-time monitoring, smart city initiative expansion, increased importance on health and wellness, alongside the adoption of renewable energy supplies. Notable trends within this forecast period are the incorporation of AI and IoT technologies, inventive advancements within control systems, the progression of air quality monitoring technologies, enhancements in sensor technology, and the rise of data analytics and visualization.
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Top Growth Drivers in the Air Quality Control System Industry: What's Accelerating the Market?
The escalating worries over the quality of indoor air are predicted to fuel the expansion of the air quality control system market. Indoor air quality (IAQ), which pertains to the air's condition inside and around various structures, is mainly focused on its impact on the comfort and health of those inside the building. Air quality control systems provide comprehensive strategies to address and enhance indoor air quality by eliminating pollutants, managing ventilation, adjusting humidity, and improving the overall quality of the indoor environment. For example, data from the American Lung Association revealed that in April 2023, approximately 36% of the American population, equivalent to 119.6 million people, still live in areas with poor ozone or particle pollution grades. Hence, the mounting worries over indoor air quality will boost the development of the air quality control system market.
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What Trends Will Shape the Air Quality Control System Market Through 2029 and Beyond?
Leading businesses in the air quality control system market are investing in the creation of innovative technology products, such as integrating smart IoT solutions into their AQCS systems, to consolidate their market standing. IoT solutions leverage data gathered by IoT devices, analyzing data from both single and multiple sensors aiming to generate more diverse insights. For example, in March 2023, Siemens AG, a German automation and digitalization firm, via its subsidiary Siemens Smart Infrastructure (SI), launched Connect Box, a user-friendly, open-source IoT solution designed for managing small to medium-sized buildings. As the latest addition to the Siemens Xcelerator series, Connect Box offers a simple way to monitor building performances and has the capability to considerably enhance indoor air quality and boost energy efficiency in smaller to mid-sized buildings like apartments, retail shops, schools, and small offices by up to 30%.
What Are the Main Segments in the Air Quality Control System Market?
The air quality control systemmarket 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 Top Companies are Driving Growth in the Air Quality Control System Market?
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
Which Regions Will Dominate the Air Quality Control System Market Through 2029?
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.
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