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(Medical-NewsWire.com, April 03, 2020 ) The global air quality monitoring system market (AQMS) is expected to reach USD 6.0 billion by 2025 from USD 4.3 billion in 2019, at a CAGR of 5.6%.
The major factors driving the growth of the air quality monitoring system market include the supportive government regulations for effective air pollution monitoring and control, ongoing initiatives towards the development of environment-friendly industries, increasing public-private funding for effective air pollution monitoring, rising levels of air pollution, and increasing public awareness related to the environmental and healthcare implications of air pollution.
By end-user, the government agencies and academic institutes segment dominated the AQMS market in 2018
On the basis of end-user, the market is segmented into government agencies and academic institutes, commercial and residential users, petrochemical industry, power generation plants, pharmaceutical industry, smart city authority, and other end users.
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The government agencies and academic institutes segment accounted for the largest share in 2018. The large share of this segment can be attributed to the presence of stringent environmental regulations, rising government investments for effective AQM, and increased installation of AQM stations worldwide.
The Asia Pacific region is expected to grow at the fastest rate during the forecast period
The air quality monitoring systems market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and Rest of the World. The Asia Pacific region is one of the major revenue-generating regions in the market. This market is also expected to show high growth in the coming years, mainly due to large-scale industrialization in emerging APAC countries, increasing stringency of air pollution regulations, and continuous government support for the development and commercialization of advanced AQM products in this region.
The major players operating in the AQMS market include Thermo Fisher Scientific (US), Emerson Electric (US), General Electric (US), Siemens AG (Germany), Teledyne Technologies (US), PerkinElmer, Inc. (US), Agilent Technologies, Inc. (US), Spectris plc (UK), 3M Company (US), Honeywell International Inc (US), HORIBA, Ltd. (Japan), Merck KGaA (Germany), TSI Incorporated (US), Tisch Environmental (US), and Testo (Germany), among others.
Analysis of the market developments between 2016 and 2019 revealed that several growth strategies such as product launches, enhancements, strategic acquisitions, agreements, partnerships, collaborations, and expansions were adopted by the market players to strengthen their product portfolios and maintain a competitive position in the air quality monitoring systems market. Among these business strategies, product launches, agreements, and partnerships were the most widely adopted growth strategies by the players in the air quality monitoring systems market.
Thermo Fisher Scientific (US) held the leading position in the global air quality monitoring system market. The company possesses a robust AQM portfolio that includes products for ambient gas monitoring, emission monitoring, and particulate monitoring. The company has a strong geographic presence across North America, Europe, APAC, and Africa. The company primarily focuses on new product launches and product enhancements as its key growth strategy to sustain its leadership position in the air quality monitoring system market. With regard to this strategy, the company has launched several AQM products in the last three years, such as TriPlus 500 Gas Chromatography Headspace Autosampler (March 2019) and the IQ Series gas analyzers to its iQ Series environmental monitoring platform (August 2017). The company’s strong geographic presence in more than 75 countries and rising research initiatives for novel product launches are among the key reasons for the leadership position of this company in the AQM system market.
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Siemens (Germany) held the second position in the air quality monitoring system market in 2018. The company has a strong AQM product portfolio, a well-established distribution network, and a wide geographic presence across the globe. The company mainly focuses on product launches and partnerships as its key growth strategy to strengthen its position in the global air quality monitoring system market. To increase its market visibility, the company launched the City Air Management (CyAM) software at the World Cities Summit in Singapore in 2018. Its strong R&D capabilities, high industry presence, strong brand recognition, and rising market visibility the company’s share in the AQM market is expected to increase during the forecast.
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