According to the new market research report, "Air Quality Monitoring System Market by Product (Indoor, Outdoor, Wearable), Sampling (Stack, Manual, Passive), Pollutants (Chemical, Particulate Matter, Biological), User (Government, Petrochemical, Power plant, Residential) - Global Forecasts to 2026", 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.

Global Industry Growth Boosting Factors:

The growth of this market is majorly driven by factors such as rising levels of air pollution, supportive government regulations for effective air pollution monitoring and control, and ongoing initiatives toward the development of environment-friendly industries. Adding to this, increasing public-private funding for effective air pollution monitoring, and the increasing public awareness related to the environmental and healthcare implications of air pollution also supports the growth of this market.

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.

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Driver: Favorable public & private initiatives for environmental conservation and public awareness

A number of favorable initiatives have been taken by government as well as non-government organizations and private sector to reduce and cut down air pollution through means of public awareness campaigns and programs. Such programs and initiatives not only help to raise awareness among common people, but also play an important role to bring the attention of international organizations to the current and future threat of air pollution that the world is facing. Many government and non-government organizations work continuously to bring the attention of national and international societies to the devastating effect of air pollution on the health of living beings and to the environment.

Restraint: High product cost

The high installation cost and high maintenance cost of conventional air monitoring system hinders the growth of the market. For instance, the installation of reference air quality monitoring stations is expensive and costs anywhere between USD 100,000–200,000 for a single station. In India, the cost of a single AQM station is estimated to be between USD 0.21–0.35 million (excluding the costs of yearly maintenance). The maintenance cost of pollution-monitoring stations is also high (up to 10% of the installation cost for overall maintenance during a 10-year period).

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.

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Challenge: Slow implementation of air pollution control reforms

One of the major challenges associated with the air quality monitoring systems market is the slow implementation of air pollution regulations. Several emerging countries (such as China and India) have been reported to be slow in implementing stringent environmental pollution monitoring norms during the past decade. For example, in April 2021, government of India postponed the deadline for thermal powerplants to install Flue Gas Desulphurization units to cut the emissions of sulfur dioxide, and allowed utilities that miss the new target to continue operating after paying a penalty, according to a government notice. The initial deadline was set to 2017 but now has been postponed up to 2022 for plants near populous region and capital New Delhi, and up to 2025 for facilities near less populated regions.