Overview:

This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, fundamental market dynamics, and key player strategies.

Major Growth Driving Factors:

The growth of this market is majorly driven by factors such as technological advancements in air quality monitoring systems, increasing public-private funding for effective air pollution monitoring, and the increasing public awareness related to the environmental and healthcare implications of air pollution.

Projected Surge in Revenue Generation:

The global air quality monitoring system market is valued at USD 4.4 billion in 2021 and is expected to reach USD 5.9 billion by 2026, at a CAGR of 6.5% during the forecast period.

Data Triangulation:

After deriving the overall Air quality monitoring systems market value data from the market size estimation process, the total market value data was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments, data triangulation and market breakdown procedures were employed wherever applicable. The data was triangulated by studying various qualitative and quantitative variables as well as by analyzing regional trends for both the demand- and supply-side macro indicators.

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The chemical pollutant segment, by pollutant, is expected to register the market share of the global air quality monitoring systems market in 2020

Based on pollutants, the global air quality monitoring systems market is segmented into chemical pollutants, physical pollutants, and biological pollutants. The chemical pollutants segment accounted for the largest share of the global air quality monitoring systems market in 2020. This segment is projected to reach USD 4.43 billion in 2026. Market growth is mainly attributed to the rising levels of chemical air pollutants globally. In addition, the implementation of and the need to comply with stringent pollution monitoring and control regulations, growing public awareness, and the development and commercialization of innovative sensors are supporting the growth of this market segment.

Government agencies and academic institutes were the key end-users in the air quality monitoring systems market

Based on end user, the air quality monitoring systems market is segmented into government agencies and academic institutes, commercial and residential users, petrochemical industry, power generation plants, pharmaceutical industry, smart city authorities, and other end users.

Government agencies and academic institutes commanded the largest share of the global air quality monitoring systems market in 2020. The demand of air quality monitoring devices among government agencies and academic institutions is driven by active government initiatives for effective air quality monitoring, increased number of research collaborations, and increased installation of AQM stations worldwide.

Geographical Growth Scenario:

Asia Pacific is expected to see the highest growth in the air quality monitoring systems market by region

The global air quality monitoring systems market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America is the largest regional market for air quality monitoring products, whereas the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period.

Countries in this market are witnessing growth in their GDPs and a significant rise in disposable income among the middle-class population. These developments have led to increased government spending by various regional governments, modernization of industrial and public infrastructures, and rising penetration of cutting-edge environmental monitoring technologies (especially in rural areas).

The APAC is among the major contributors to air pollution on a global scale and also has a large patient population due to growing pollution levels. The APAC region has manufacturing hubs for various industrial products such as chemical products, petrochemical processing, and metals & mining, among others. Thus this region is experiencing increasing demand for air quality sensors and monitors that are mainly driven by large-scale industrialization, implementation of stringent air pollution regulations across major Asian countries, and continuous government support for the development and commercialization of advanced products.

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Global Key Players:

As of 2020, the air quality monitoring systems market was dominated by Thermo Fisher Scientific (US), 3M (US), Siemens (Germany), Teledyne Technologies (US), General Electric (US), Emerson Electric Company (US), Honeywell International Inc (US), HORIBA, Ltd. (Japan), Merck KGaA (Germany), and TSI Incorporated (US), among others.

Opportunity: Continuous R&D and technological advancements

The continuous research and development, and commercialization of advanced AQM systems (such as miniaturized devices, nanotechnology-based systems, infrared spectroscopy, and remote-sensing instruments) are expected to offer significant growth opportunities for prominent as well as emerging players in the AQM industry. Consequently, various industrial players and research organizations are increasingly focusing on developing and commercializing advanced AQM products. For instance, nanotechnology based AQM products offer several procedural benefits, such as real-time monitoring capabilities, device miniaturization, increased analytical efficacy, and affordable manufacturing.

In the same line of advancements, a low-power gas sensor nano-chip has been developed by a team of international researchers making possible the development of personal air-quality monitoring devices. This nanochip sensor is based on a chemical-sensitive field-effect transistor (CS-FET) platform which is further based on 3.5-nanometer-thin silicon channel transistors. (Source: American Association for the Advancement of Science journal). Pipeline development and the increased market availability of technologically advanced air pollution monitoring systems are expected to offer potential opportunities for market growth in the coming years.

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