Global Air Quality Monitoring System Market Size to grow $7.3 Bn in 2028
The Global Air Quality Monitoring System Market was valued at USD 5.6 Bn in 2021. The market is projected to grow USD 7.3 Bn in 2028, at a CAGR of 6.8%. The market is projected to accelerate during forecast years due to growing concerns about air quality and the expansion of industry in many countries.
Rising levels of air pollution, supportive government legislation for effective air pollution monitoring and control, and continued endeavors toward the development of environmentally friendly sectors are all driving this industry forward. Increasing public-private investment for effective air pollution monitoring, as well as rising public awareness of the environmental and health consequences of air pollution, all contribute to the market's growth. The COVID-19 outbreak has touched every element of the industry, including the market for air quality monitoring systems. The demand for air quality monitoring systems varies greatly from region to region, owing to the significant impact of the pandemic on the economy and spending power of purchasers, as well as disruptions in the supply chain. The pandemic has wreaked havoc on people's life in all countries and communities, and will have a detrimental impact on global economic growth in 2020.
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Air pollution is a significant danger to the environment's equilibrium. It has a large impact on the climate, causing acid rain, increased toxicity, and global warming, among other things. Air quality monitoring systems are becoming more widely used in industries such as industrial, Energy & Power, and oil and gas as demand for workplace safety grows. Mistakes like the Bhopal gas leak tragedy and the Aliso Canyon accident have raised awareness about the importance of monitoring contaminants in the atmosphere. In addition, rising government measures for environmental conservation, such as funding for the installation of air quality monitoring systems and smart city projects, are likely to enhance market expansion throughout the projection period. A high number of tie-ups between government agencies and business enterprises have occurred in recent years. Large corporations like Honeywell International Inc. and Intel Corporation work with government agencies all over the world to protect the environment. These collaborations aim to create sensor networks and sophisticated systems for monitoring air and water quality. The Clean Air Partners were established under the Clean Air Act by the Metropolitan Washington Council of Governments, the Maryland Department of Transportation, the Baltimore Metropolitan Council, and WGL Holdings, Inc. Clean Air Partners has installed monitoring systems around the Baltimore-Washington region, providing real-time and anticipated air quality data.
North America continues to enjoy a solid position in the market. This is due to increased acid rain levels in the region, which have caused 90 percent of North American lakes to be acidic. As a result, governments have imposed stringent requirements for monitoring air quality, boosting market growth. The presence of well-established distribution channels from prominent manufacturers also bodes well for market expansion. However, due to the rising frequency of respiratory and cardiovascular ailments caused by air pollution in various locations across the region, Asia Pacific is predicted to grow at the fastest rate during the projection period. Asia Pacific is home to 24 of the top 30 cities in the world with the lowest air quality index (AQI) in 2018. Furthermore, positive government measures auger well for regional market growth. For example, the Indian government has demanded that Oil & Gas enterprises transmit real-time air quality data to the Central Pollution Control Board (CBCB).
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