Air Quality Monitoring System Market: Key Players Operating Globally
Overview of This Study:
This research employed a large number of primary and secondary sources. In order to determine the segmentation kinds, industry trends, major players, competitive landscape, important market dynamics, and major player strategies, the research procedure entailed analyzing a variety of industry-affecting aspects.
Global Growth Driving Factors:
The market is expected to grow as a result of rising global air pollution expenditures, government regulations governing efficient air pollution monitoring and control, rising public-private funding for efficient air pollution monitoring, rising public awareness of the negative effects of air pollution on the environment and human health, and expanding government initiatives supporting the growth of environmentally friendly industries.
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Projected Surge in Revenue Generation:
With a predicted revenue of $4.9 billion in 2023, the global market for air quality monitoring systems is expected to rise at a compound annual growth rate (CAGR) of 7.0% to reach $6.9 billion by 2028.
Leading Players:
As of 2022, the air quality monitoring systems market was dominated by Thermo Fisher Scientific (US), 3M (US), Siemens (Germany), Teledyne Technologies (US), GE Healthcare (US), Emerson Electric Company (US), Honeywell International Inc (US), HORIBA, Ltd. (Japan), Merck KGaA (Germany), and TSI Incorporated (US), among others.
Different Growth Strategies Adopted by Them:
These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to further expand their presence in the air quality monitoring systems market.
Thermo Fisher Scientific (US)
One of the top suppliers in the worldwide market for air quality monitoring systems is Thermo Fisher Scientific (US). The primary reason for its substantial market share is its extensive product line and widespread geographic reach over important areas like North America, Europe, the APAC region, and Africa. Thermo Fisher concentrates on intensive research and development as well as ongoing product development. Its broad range of products includes gas analyzers, air samplers, monitoring systems, particle matter monitors, probes, and other accessories. Thermo Scientific AerosolSense Sampler, a surveillance tool for in-air viruses, including SARS-CoV-2, was introduced by the business in March 2021.
Among the other products that have been introduced are the TSQ 9000 triple quadrupole GC-MS systems, the SOLA iQ total sulfur analyzer, the TriPLus 500 gas chromatography headspace autosampler, and the Orbitrap exploris GC 240 MS and GC-MS. Because their products are produced in compliance with international safety standards, the company is a market leader.
Siemens AG (Germany)
Siemens AG, a German company, holds a prominent position in the worldwide market for air quality monitoring systems due to its robust R&D capabilities and extensive geographic reach. With a strong sales and distribution network spanning over 190 nations, Siemens is present throughout Europe, the Americas, Asia-Pacific, the Middle East, and Africa. With about 285 significant production and manufacturing sites spread out across the globe, the corporation boasts a strong manufacturing base. It is anticipated that a broad product offering and ongoing product development as a result of large investments in noteworthy R&D projects will bolster its position in the AQM market.
Siemens' Symaro line of air quality sensors, which are utilized for demand-controlled ventilation, has helped the company establish a significant foothold in the CO2 and O2 measurement market. It is anticipated that Siemen will considerably grow its market share over the course of the projected period thanks to its strong industry presence and excellent brand recognition in the AQM market.
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Geographical Growth Dynamics:
Over the course of the forecast period, the air quality monitoring system industry is anticipated to grow at the fastest rate in the Asia Pacific region.
Over the course of the forecast period, the air quality monitoring system market is anticipated to grow at the fastest rate in the Asia-Pacific region. The region's high compound annual growth rate (CAGR) can be attributed to a number of factors, including rising air quality monitoring spending by regional governments, the increasing adoption of advanced environmental monitoring technologies, and the modernization of public and industrial infrastructure due to rising middle-class disposable income and rising GDPs of Asian countries.