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The indoor air quality (IAQ) solution market size is estimated to grow by USD 12.4 billion at a CAGR of 6.61% between 2023 and 2028. The market is experiencing robust expansion driven by a confluence of factors. With the launch of innovative air quality products, coupled with stringent government regulations and initiatives worldwide, there's a growing momentum toward addressing indoor air pollution. Heightened awareness about the health risks associated with poor indoor air quality further amplifies the demand for effective solutions. As concerns over air pollution escalate, the market witnesses a surge in adoption, emphasizing the critical role of indoor air quality solutions in safeguarding human health and well-being.
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The air quality monitor market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The equipment segment is estimated to witness significant growth during the forecast period. Solutions encompass HVAC systems with HEPA filters, IAQ management systems, building automation, and LEED, WELL Building Standards compliant systems. Air pollution monitoring includes pollutant types like chemical, physical, and biological.
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The equipment segment was the largest segment and was valued at USD 16.00 billion in 2018. Vendors focus on innovative air monitors, purifiers, humidifiers, ventilation systems, and filters for residential, commercial, and industrial establishments. Public-private funding supports IAQM in government buildings, oil and gas, coal and mining, power and energy, general manufacturing, schools and universities, hospitality, and private homes. Solutions comprise air purifiers, humidifiers, ventilation air quality monitoring system, air filters, dehumidifiers, UV lamps, carbon monoxide alarms, and more. Thus, the availability of a variety of innovative devices will continue to be a key growth driver for this segment during the forecast period.
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North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The Indoor Air Quality Solutions market in North America is experiencing notable expansion, driven by the increasing presence of pollutants in retail spaces, office buildings, hotels and restaurants, and long-term care communities. Regulatory bodies such as the US EPA, OSHA, and ASHRAE are enforcing stringent air quality guidelines, leading to the adoption of advanced technologies like air quality sensors, new equipment, and services in the North America Indoor Air Quality (IAQ) solutions market. These solutions address pollutants such as Particulate Matter (PM) and Ozone, ensuring compliance with regulations and enhancing overall indoor air quality. The growing demand for clean indoor air in both commercial and residential areas plays a key role in the regional market growth during the forecast period. This trend drives innovation and investment in technologies that monitor, purify, and maintain air quality monitor market, driving market expansion across North America.
The indoor air quality market, encompasses a range of technologies designed to mitigate various pollutants and ensure optimal air quality within buildings. Key components of IAQ management systems include HVAC Air Quality Monitoring System, industrial HEPA filters, UVGI, and Building automation. IAQ can be impacted by Chemical pollutants, Physical pollutants, and Biological pollutants. To monitor air quality, tools such as Air pollution monitoring systems, Portable indoor monitors, and Carbon monoxide alarms are utilized in indoor air quality meters market,. The market for IAQ solutions is driven by increasing awareness of Indoor air pollution and its health effects. LEED and WELL Building Standards emphasize the importance of IAQ and have led to the adoption of advanced technologies like Air purifiers, Humidifiers, Ventilation systems, Air filters, Dehumidifiers, Ultraviolet (UV) lamps, and Ozone generators. Air quality regulations mandate the implementation of these solutions to maintain healthy indoor environments. Public-private funding initiatives are also contributing to the growth of this market. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help air quality companies refine their marketing strategies to gain a competitive advantage.
New air quality product launches are one of the key drivers for the growth of the market. Improvements in technology, new product development, and effective marketing strategies are key factors driving the increasing awareness and adoption of smart air purifiers among consumers. For instance, in December 2021, Trane Technologies unveiled its Wellsphere Digital Indoor Environmental Quality Management Solutions. These solutions offer building owners and facility managers actionable insights to create healthier and more efficient indoor spaces, ensuring peace of mind for occupants.
Moreover, the introduction of new products provides buyers with a wider selection of designs, colors, and sizes for indoor air quality solutions. Furthermore, vendors actively inform buyers about the latest technological advancements through various advertising and promotional activities. These factors are expected to fuel the growth of the global indoor air quality solutions market in the coming years.
Technological advances in indoor air quality solutions is the primary trend in the global market. The indoor air quality solution market, encompasses various technologies and systems designed to manage and improve air quality within buildings. Key components include HVAC systems, HEPA filters, IAQ management systems, building automation, and LEED certification. WELL Building Standards and IAQM also play a significant role in ensuring healthy indoor environments. Air pollution monitoring is crucial, with pollutant types including chemical, physical, and biological.
Moreover, public-private funding is essential for implementing solutions in government buildings, industrial establishments, commercial establishments, and residential buildings. Solutions range from air purifiers, humidifiers, ventilation air quality monitoring system, and air filters to dehumidifiers, ultraviolet (UV) lamps, carbon monoxide alarms, and more. Applications span private homes, apartments, oil and gas, coal and mining, power and energy, general manufacturing, schools and universities, hospitality, and others. Thus, these factors are expected to boost the growth of the global market during the forecast period.
A major factor that affects the growth of the market is rising competition among the vendors. The indoor air quality solution market, is characterized by a fragmented vendor landscape, with numerous regional and international players vying for market share. This high level of competition has a negative impact on the market, affecting the sales of indoor air quality solutions, equipment, and services. The presence of many local vendors poses a challenge for international players, as they struggle to maintain their market position.
However, the local vendors often offer low-cost indoor air quality solutions, including air filters, air purifiers, humidifiers, and other equipment. This pricing pressure forces global vendors to reduce their prices to remain competitive. This trend is particularly noticeable in the Americas, Europe, and some countries in the Asia-Pacific region. Thus, these factors are expected to impede the overall growth of the global indoor air quality analysis during the forecast period.
The indoor air quality market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
3M Co.: The company offers indoor air quality solutions that includes electrostatically charged air filter, which effectively captures up to 96 percent of PM 2.5 particles like dust, pollen, bacteria, viruses, and allergens in 2 hours.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of air quality companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Indoor Air Quality (IAQ) refers to the air quality within and around buildings and structures, especially as it relates to the health and comfort of building occupants. IAQ is influenced by several factors including temperature, humidity, and the presence of pollutants such as volatile organic compounds (VOCs), carbon dioxide (CO2), and particulate matter (PM). The air quality monitor market caters to the growing demand for improving IAQ in both residential and commercial spaces. Solutions range from air filtration systems, humidification, and dehumidification systems, to ventilation systems and air purifiers. Smart homes and green buildings often use indoor air quality monitors to track pollutant type, including volatile organic compounds (VOCs), HVAC and may employ ultraviolet germicidal irradiation (UVGI) for air purification, along with carbon dioxide (CO2) monitoring, to ensure healthier environments for occupants of private establishments.
Furthermore, air filtration systems use various technologies such as HEPA filters, activated carbon filters, and UV-C light to remove pollutants from the air. Humidification and dehumidification systems maintain optimal indoor humidity levels, preventing the growth of mold and bacteria. Ventilation systems ensure the exchange of indoor air with outdoor air, reducing the concentration of pollutants indoors. Air purifiers use technologies like ionization, ozone generation, and HEPA filtration to remove pollutants from the air. The Indoor Air Quality Solutions market is driven by factors such as increasing awareness of the health risks associated with poor IAQ, stringent regulations, and the growing demand for energy-efficient solutions. The market is expected to grow at a significant rate in the coming years, with key players focusing on innovation and product development to meet the evolving needs of consumers.
Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.61% |
Market growth 2024-2028 |
USD 12.4 billion |
Market structure |
USD Fragmented |
YoY growth 2023-2024(%) |
5.78 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 44% |
Key countries |
US, China, UK, Japan, and South Korea |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., Aeroqual Ltd., Camfil AB, Carrier Global Corp., ClimateCare, Daikin Industries Ltd., Ferguson plc, Germguard Technologies M Sdn. Bhd., Honeywell International Inc., Johnson Controls International Plc., Lennox International Inc., LG Electronics Inc., MANN HUMMEL International GmbH and Co. KG, Panasonic Holdings Corp., Perfect Pollucon Services, Sensirion AG, SGS SA, Spectro Analytical Labs Pvt. Ltd., Trane Technologies Plc, and UL Solutions Inc. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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