Recent Developments in the Global Air Quality Monitoring System Market:

# In September 2020, Spektris (UK) launched the new ULTRA Series gas analyzer at Semicon Taiwan 2020.

# In February 2020, TSI Incorporated (US) introduced BlueSky Air Quality Monitor (Model 8143) to measure PM1, PM2.5, PM4 and PM10 mass concentrations, as well as temperature and humidity.

# In March 2019, Emerson Electric (US) launched Rosemount CT4400 Continuous Gas Analyzer with Quantum Cascade Laser (QCL) and Tunable Diode Laser (TDL) analyzer for Continuous emission monitoring.

Major Growth Boosting 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.

Restraint: High product cost

The high installation cost and high maintenance cost of conventional air monitoring system hinders the growth of the air quality monitoring system 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).

High costs associated with the purchase, establishment, and maintenance of AQM sensors as well as high establishment costs for AQM stations are further aggravated by the implementation of stringent pollution control policies across mature markets that require regulatory compliance for effective air pollution monitoring as well as data collection and data surveillance. Therefore, the premium pricing of advanced monitoring products, as well as the high installation costs of AQM stations, are expected to restrain their optimal market growth—though mainly across emerging countries—during the study period.

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COVID-19 Impact on the global air quality monitoring systems market

Globally, the outbreak of COVID-19 has impacted every aspect of the industry, including air quality monitoring system market. From region to region there is considerable variation in the demand for air quality monitoring systems primarily due to considerable effect of pandemic on economy and purchasing power of buyers, and interruption in supply chain. The pandemic has disrupted lives across all countries and communities and negatively affected global economic growth in 2020. Estimates indicate the virus reduced global economic growth in 2020 to an annualized rate of -3.4% to -7.6%, with a recovery of 4.2% to 5.6% projected for 2021. Global trade is also estimated to have fallen by 5.3% in 2020.

In addition to this, COVID-19 had adverse impact on various stages of value chain, primarily due to strict lockdown imposed by government in most of the countries. Many companies had to temporarily halt down their manufacturing facilities for some time as well. Similarly, supply and distribution network also got interrupted, majorly due to restriction in travelling due to lockdown, and decline in sales activity.

Due to the negative impact of the pandemic, leading players in the air quality monitoring system market, such as Thermo Fisher (US), Emerson (US), and Siemens AG (Germany), registered a significant decline in sales for FY2020. However, with markets opening up, and government slowly uplifting lockdown restrictions, the economy is expected to boom up again. To grab the future opportunities, most of the companies are spending more and more on research and development, and product innovation.

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.

Geographical Growth Dynamics:

The Asia Pacific market is expected to grow at the highest CAGR during the forecast period

On the basis of region, the air quality monitoring systems market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The asia-pacific market is expected to register the highest growth in 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. This has led to increased expenditure by various regional government on air quality monitoring activities, modernization of industrial and public infrastructures, and rising penetration of cutting-edge environmental monitoring technologies. All of these factors contribute to the high CAGR of the region.

Key Market Players

The dominant players in the global air quality monitoring system market are Thermo Fisher Scientific (US), Emerson Electric (US), General Electric (US), Siemens AG (Germany), Teledyne Technologies (US), PerkinElmer, Inc. (US), Agilent Technologies, Inc. (US), Spectris plc (UK), 3M Company (US), Honeywell International Inc (US), HORIBA, Ltd. (Japan), Merck KGaA (Germany), TSI Incorporated (US), Tisch Environmental (US), and Testo (Germany), among others.

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