April 15, 2020
According to the research report titled ‘HVAC Air Quality Monitoring Market Size By Product, By Pollutant, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, worldwide HVAC air quality monitoring market is estimated to exceed USD 6 billion by the year 2025.
Rising concerns pertaining to high pollution levels have enhanced the adoption of green energy and green infrastructure, which in turn is driving the growth of HVAC air quality monitoring market. Surging focus towards maintaining indoor air quality along with increasing awareness regarding the adverse effects of air pollution such as formulation of biological impurities in HVAC systems are further fueling the market expansion.
Increasing pollution levels in emerging countries of Asia-Pacific and Latin America will stimulate the industry outlook. Rapid urbanization and industrialization in these regions have degraded indoor air quality, hence compelling governments to introduce strict reforms to control indoor air quality which will bolster the adoption of HVAC air quality monitoring solutions. However, lack of awareness and high associated costs may act as a restraining factor for industry outlook.
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As per the product type, portable HVAC air quality monitoring segment is presumed to expand with a CAGR of 6.5% during 2019-2025. The product is extensively used for short term air quality analysis and site air quality surveys. The equipment helps in measuring relative humidity, temperature, industrial gasses and pollutants.
In terms of pollutants, physical segment is expected to grow with a CAGR of 7% through 2025, primarily due to rising adoption of the product to reduce the levels of physical pollutants which are discarded in the surroundings in the form of trash from residential and industrial sectors.
Based on the application spectrum, market share from institutional sector is predicted to reach USD 1.5 billion by the year 2025. Shifting focus towards improving the human development index in public auditoriums, colleges, schools and hospitals is fueling the demand for HVAC air quality monitoring equipment.
Considering the geographical landscape, Europe industry is poised to witness a growth rate of 6.5% between 2019 and 2025. Increasing awareness, surging investments and strict regulatory scenario for maintaining indoor air quality are facilitating the business scenario in Europe.
Air Monitors, Aeroqual, TSI Inc., Emerson Electric Co., Thermo Fisher Biovac System, Testo, Siemens, 3M Co. and Honeywell are the prominent companies operating in HVAC air quality monitoring market.
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