A GROWTH MARKET
THE AIR QUALITY AND MEASUREMENT MARKET (AQM)
The market for products and services that can help improve air quality is potentially enormous. Overall, the global air quality monitoring (AQM) market is projected to reach USD 4.9bn by 2022 at a CAGR of 4.6%.
Asia Pacific is expected to register the highest growth rate during the forecast period. Factors driving the growth in the APAC region include the large-scale industrialization in emerging APAC countries, increasing stringency of air pollution regulations, and continuous government support for the development and commercialization of advanced AQM products in this region.
MARKET BY PRODUCT
Based on product type, Markets & Markets says the air quality monitoring system market is segmented into:
The indoor monitors segment dominated the AQM market in 2017, whereas the outdoor monitors segment is expected to witness the highest growth rate during the forecast period. The large share of the indoor monitors segment is attributed to the increasing adoption of smart home and green-building technologies and growing consumer preference for pollution-free indoor environments.
An October 1917 report from Research and Markets forecasts that the global indoor air quality meters market will grow at a compound annual growth rate of 7.56% from 2017 to 2021.
One of the main drivers for the global indoor air quality meters market is building materials, the report says. Building materials can emit an excess of organic chemicals that cause occupants to experience irritation, sickness, and nausea, the report points out.
It states: “Formaldehyde, which is used for shelving, is found in pressed wood. Resinous glue is the primary source of formaldehyde pollution in houses that hold these wood particles together,” according to the report. “Air contamination by building materials, glues, fiberglass, and particle boards becomes a major health and safety concern.”
MARKET BY END USER
Markets & Markets categorises the main customers for AQM products as follows:
The government agencies and academic institutes segment accounted for the largest share in 2017. The large share of this segment can be attributed to the presence of stringent environmental regulations, rising government investments for effective AQM, and increased installation of AQM stations worldwide.
END USERS IN MORE DETAIL
Markets & Markets provides the following overview of each of the above markets:
Government Agencies and Academic Institutes
Government agencies and academic institutes are major end users of Air Quality Monitoring System products. Due to the presence of stringent environmental regulations mandating the adoption of effective air pollution monitoring and control strategies among major industries, this end user segment will register the highest growth rate in the air quality monitoring system market. In addition, the growing installation of AQM stations across emerging countries is expected to support the growth of this end-user segment in the coming years.
Smart city infrastructure involves the extensive use of advanced technologies to offer improved public amenities. Smart city authorities across the world are increasingly utilizing a network of products that enable real-time monitoring and control of various air quality parameters. Implementation of stringent AQM regulations, rising urbanization and air pollution levels, and government investments for AQM and air pollution control is the prime reason for this end user segment to register the highest growth after government end users.
Commercial and Residential Users
Growing awareness on the link between air quality deterioration and health disorder prevalence has prompted builders, architects, and engineers to focus on the effective management of indoor air pollution levels. This includes the use of green building and smart home technologies, incorporating AQM into their designs to ensure the accurate assessment of indoor air quality.
The major effluents released in the air from operations in the petrochemical industry include ÍÏ, ÍÏ2, NOx, SO2, H2S, CO, volatile hydrocarbons, and PM (PM10 and PM2.5). To control and monitor effluent levels, the petrochemical industry utilizes continuous and intermittent sampling methods. Growth in this end-user segment can be attributed to that of the petrochemical industry, coupled with government regulations aimed to reduce air pollution.
Power Generation Plants
Power generation plants (such as coal and gas-fired units) are among the major contributors to air pollution levels worldwide. Therefore, to monitor and control effluent levels released into the air, power generation plants utilize continuous as well as passive AQM.
The pharmaceutical industry is among the major sources of air pollutants, such as toxic gases (including hydrogen sulfide, water vapor, and methane), PM, and microbial contamination. Hence, governments have implemented mandatory regulations for the assessment of both indoor and ambient air quality parameters in pharmaceutical manufacturing units.