LONDON--(EON: Enhanced Online News)--According to the latest market study released by Technavio, the global air quality monitor market is expected to grow at a CAGR of almost 8% during the forecast period.
“LEED believes that the greenest building is the one that is already built. Therefore, it supports the renovation of old buildings. This will help in contributing to the environment by reducing energy wastage and emissions”
This market research study titled ‘Global Air Quality Monitor Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
“The increasing pollution level due to vehicular and industrial emissions is driving the growth of the global air quality monitor market. Governments worldwide have created many monitoring policies and stringent regulations to control air pollution. For instance, the Indian government is planning to install air quality monitoring stations in nine cities in and around the country capital,” says Anju Ajaykumar, a lead analyst at Technavio for engineering tools research.
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The market research report categorizes the global air quality monitor market into four major end-user segments, of which the top three are discussed in detail below. They are:
- Government sector
- Commercial and residential sector
- Energy and pharmaceutical sector
The global air quality monitor market by the government sector is expected to grow at a CAGR of over 8%. Governments across different countries are involved in monitoring the air quality by setting standards and continuously evaluating the pollution and pollutant data.
In countries like India, the pollution situation is worsening day by day due to numerous factors such as increase in construction, growth of the transportation sector and emissions from industries. As a commitment toward a cleaner environment, the Indian government is taking actions by implementing changes in the mass transport system. The central board for pollution control is also laying emphasis on installing online monitoring system in the highly polluting industries.
To increase public communication and awareness, the newly launched Safar-Air mobile app provides air quality index (AQI) information on few smartphones. The government is also planning to install about six continuous monitoring stations and display boards in all cities. In addition, it also plans to expand monitoring stations in cities where the population is more than one million. Similarly, in China, the monitoring stations are predicted to be doubled as smog has increased in Beijing. These initiatives by governments to monitor air quality augur well for the growth of the market.
Commercial and residential sector
The increase in awareness about indoor pollution drives the commercial and residential sector for using air quality monitors. Indoor pollution can cause adverse health effects, such as irritation of the eyes, nose, and throat; dizziness; headaches; and fatigue. Long-term exposure might cause respiratory diseases, heart disease, and cancer. Thus, many countries are adopting the concept of green buildings to control or eliminate indoor pollution.
There is an increase in the number of green projects in Europe, the US, and Australia to reduce indoor air pollution. Leadership in Energy and Environmental Design (LEED) rating system is the most sought after rating by various construction companies.
“LEED believes that the greenest building is the one that is already built. Therefore, it supports the renovation of old buildings. This will help in contributing to the environment by reducing energy wastage and emissions,” says Anju.
Energy and pharmaceutical sector
The energy and pharmaceutical sectors must maintain air quality to abide by the standards set by the government. The growing demand for power has led to rise in the installation of coal and gas power plants in countries such as the US, Japan, China, and India. Japan plans to add 43 new coal power plants to its power infrastructure. Similarly, China is adding both coal and gas capacities to its power mix. All these installations will drive the market for air quality monitors.
A controlled environment is crucial to maintaining experimental consistency inside a pharmaceutical laboratory. Air quality monitoring equipment detects the presence of contaminants like gases, microbes, moisture, and other particulates. With the expansion of the pharmaceutical sector and power sector globally, the need to control air quality around the manufacturing unit becomes mandatory. This need will drive the growth of the global air quality monitor market.
The top vendors highlighted by Technavio’s heavy industry market research analysts in this report are:
- Teledyne Technologies
- Thermo Fisher Scientific
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