Industrial Air Quality Monitoring System Market Poised to Reach $2.59 Billion by 2028, Growing at a Notable CAGR of 6.32% - Arizton

Arizton Research Reveals the market size, share, and growth forecast of the industrial air quality monitoring system market by Product Type (Indoor Air Quality Monitor System (Portable and Fixed) and Outdoor Air Quality Monitor system (Portable, Fixed, Dust & Particulate Matter Monitors, and AQM Station)), Chemical Air Pollutants (Carbon Dioxides, Sulfur Oxides, Nitrogen Oxides, Volatile Organic Compounds, and Others), End User (Petrochemical Industry, Power Generator Plants, Pharmaceutical Industry, Food & Beverage Industry, Mining Industry, and Other Industries), and Geography (North America, Europe, APAC, Latin America, and Middle East & Africa).

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Market Overview 

In 2022, the World Health Organization (WHO) projected that approximately 4.2 million individuals die annually from air pollution exposure. The escalating levels of air pollution have become a pressing public health concern affecting all living organisms, particularly in urban areas with the highest concentration of polluting gases. Air pollution poses mental and physical health risks, and prolonged exposure increases the likelihood of respiratory and cardiovascular diseases. Industries, including manufacturing units and other plants, contribute significantly to air pollution by releasing substantial amounts of organic compounds such as carbon monoxide, hydrocarbons, and chemicals. The excessive carbon dioxide emission from these activities leads to the greenhouse effect, which has global implications for economic growth, human well-being, and natural resources. These factors are expected to drive the growth of the industrial air quality monitoring system market in the foreseeable future. 

An industrial air quality monitoring system monitors and measures the contamination level of air pollutants, also known as "criteria air pollutants." It detects various substances such as particulate matter, sulfur dioxide, carbon monoxide, volatile organic compounds, and nitrous oxide. The increasing demand for enhanced air quality will propel the industrial air quality monitoring system market in the coming years. The growth of infrastructure-related developments is a key factor contributing to expanding industrial services industries. With the rise in infrastructure projects and increased private participation in infrastructure investments, there is a greater need for industrial air quality monitoring systems. 

The Russia-Ukraine conflict provided certain opportunities for the Gulf oil industry, and the demand for Saudi and Emirati oil increased substantially. Gulf countries can provide an alternative to Russian supplies in Europe, North America, and Latin America. Therefore, significantly changing the behavior of European oil consumers is expected to increase the oil and coal construction plants in MEA and other regions. This change is expected to skyrocket the demand for industrial air quality monitoring systems in the upcoming years. 

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Key Highlights  

• Europe and APAC are expected to witness strong traction in demand for air quality monitoring systems due to rising industries and infrastructure development growth. 
• Europe has the highest growth potential in the market due to its affinity for green spaces, a large community of landscapers, and affinity toward eco-friendly equipment among end-users. 
• The infrastructure building in the oil & gas industry in the Middle East has been growing in recent years, with global vendors expanding their footprint in the region, which is expected to increase the market growth. 
• Vendors must focus on meeting the requirements of end-users. Product customization may be an effective way to enhance the consumer base and increase the market share. 
• With their huge infrastructure and R&D support, global vendors are rapidly expanding their footprint in the market. Thus, regional vendors find competing with reliability, technology, and price increasingly difficult. Manufacturers are creating marketing strategies based on the durability of the equipment. The competitive environment in this market is likely to intensify further with an increase in product/service extensions, technological innovations, and mergers & acquisitions. 
• Companies with better technical and financial resources can develop innovative products that render products by competitors non-effective even before their launch in the market or before their R&D costs are recovered. Therefore, vendors must develop new technologies. International players are currently dominating the market. However, several regional and foreign players with small market shares also have a presence in the market. 

The APAC Region is Projected to Dominate the Industrial Air Quality Monitoring System Market, Holding the Largest Market Share 

In 2022, the Asia-Pacific (APAC) region established its dominance in the global industrial air quality monitoring system market, and it is projected to experience a compound annual growth rate (CAGR) of 7.12% during the forecast period. The growth is primarily driven by the growing demand for industrial air quality monitoring systems from petrochemicals, power generation, and other regional industries. The major economies in APAC, namely China, India, and Japan, are witnessing a surge in industrial construction activities as more companies in various sectors choose to establish their plants in different countries to capitalize on target markets and potential growth opportunities. 

Vendor Insights 

The global industrial air quality monitoring system market is dominated by vendors that have an international presence. To enhance their market share, many international players are expected to expand their reach worldwide during the forecast period, especially in fast-developing countries of APAC, MEA, and Latin America. Companies have also pursued a strategy to acquire and enhance their product offerings and increase market share.  

Companies with better technical and financial resources can develop innovative products that could pose a threat to competitor products, making them non-competitive and even obsolete before they can recover their R&D and commercialization costs. Therefore, vendors must develop new technologies and remain abreast with upcoming innovations to have a competitive advantage. Existing global players are increasing their investment in R&D facilities to ensure continuous customer-centric product innovation. 

Europe and the US have a large penetration of air quality monitoring systems. The competition among companies is intensifying, which will lead to the introduction of many advanced and innovative solutions in the market over the next few years. Moreover, price is set to become a major factor for competition among players to gain an edge over other vendors in the market. Furthermore, the market players' growth depends on their condition, GDP growth, and industry development. High capital requirements and rapid technological advances are major entry barriers for new players. Therefore, market vendors must attain sustainability, expand into other geographies, and revive domestic demand.  

Key Company Profiles 

• Thermo Fisher Scientific Inc 
• Emerson Electric Co. 
• HORIBA, Ltd. 
• Siemens AG 
• Teledyne Technologies 
• Aeroqual 
• Aldes 
• Bosch Sensortec 
• CIAT 
• Daikin 
• Honeywell 
• 3M Company 
• Systemair 
• Johnson Controls 
• VTS Group 
• Samsung 
• Panasonic 
• PerkinElmer, Inc 
• Swegon 
• Hitachi 
• Vent-Axia 
• Lennox 
• TSI Incorporated 
• Trox 
• Oizom 
• Camfil 

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Key Questioned Answered in the Report:  

• How big is the industrial air quality monitoring system market? 
• What is the growth rate of the global industrial air quality monitoring system market? 
• Who are the global industrial air quality monitoring system's key players? 
• What are the significant trends impacting the industrial air quality monitoring system market? 
• Which region holds the largest global industrial air quality monitoring system market share? 

Check the detailed table of contents of the report @ https://www.arizton.com/market-reports/industrial-air-quality-monitoring-system?details=tableOfContents 

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