Air Quality Monitoring System Market - This is How Global Industry is Impacted by COVID19


Posted July 1, 2022 by vmack2187

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.
 
Research Methodologies Followed for This Study:

Primary Research:

Primary research was conducted after acquiring extensive knowledge about the global air quality monitoring system market scenario through secondary research. Primary interviews were conducted with market experts from both the demand-side (such as CROs, hospitals, transplant centers, healthcare service providers, commercial service providers, academia, and research organizations) and supply-side respondents (such as presidents, CEOs, vice presidents, directors, general managers, heads of business units, and senior managers) across five major geographies, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East, and Africa.

Approximately 20% of the primary interviews were conducted with stakeholders from the demand side, while those from the supply side accounted for the remaining 80%. Primary data for this report was collected through questionnaires, emails, and telephonic interviews.

Secondary Research:

The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B), white papers, annual reports, companies house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the air quality monitoring systems market. A database of the key industry leaders was also prepared using secondary research.

Major Growth Driving Factors:

The growth of Air Quality Monitoring System 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.

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COVID-19 Impact on the global Air Quality Monitoring System 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.

Recent Developments:

# 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.

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.

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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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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags air quality monitoring , air quality monitoring market , air quality monitoring system , air quality monitoring system market
Last Updated July 1, 2022