Air Quality Monitoring Equipment Market (Product Type - Air Pollution Sampler, Anemometers, Gas Analyzers and Detectors, Particle Counter, and Nitrogen Oxides (NOX) and Electrostatic Precipitators (ESP) Control Systems; End Use - Power Generation, Oil & Gas, Medical, Construction, Chemical) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Global Air Quality Monitoring Equipment Market: Overview
The ever rising levels of air pollution around the world has raised serious concerns over its ill-effects on the environment. To tackle this issue, several governments across the globe have imposed strict regulations due to which there are several studies undertaken to measure and research the air pollution levels. In order to carry out these studies and to ensure that the pollution levels are kept as minimum as possible, air quality monitoring equipment is being highly used by several organizations, thus experiencing a significant rise in demand in the last few years. This is one most important factors that has been contributing towards the growth of the global air quality monitoring equipment market.
The global air quality monitoring equipment market is mainly segmented based on three main criteria: by type, by end user, and by region. The gas analyzer and detector segment placed under the type criteria held the leading position in the market in 2015, with respect to product sales. This was mainly due to the percentage of harmful gases rising all over the world.
The global market for air quality monitoring equipment was valued at US$4.2 bn in 2015. With a growing rise in demand of this equipment, the valuations for the market are prophesized to cross US$8.9 bn until 2024, by rising at a CAGR of 8.10% between the forecast duration from 2016 to 2024.
Global Air Quality Monitoring Equipment Market: Drivers and Restraints
The most prominent driving factor for the global air quality monitoring equipment market as mentioned above is the ever increasing levels of air pollution around the whole world. Due to this, a high demand for buying air quality monitoring equipment has been recorded. Even in the future, as long as pollution levels do not decrease by a significant scale, the market for air quality monitoring equipment is predicted to experience a vast growth. Another factor affecting the market’s growth in a positive way involves a growing awareness to spread amongst the masses, mainly based on how they can control the pollution levels.
Global Air Quality Monitoring Equipment Market: Geographical Outlook
From a geographical perspective, the global air quality monitoring equipment market is divided into four prominent segments: Europe, North America, Asia Pacific, and Rest of the World. Based on a careful analysis, North America is set aside as a leader amongst all the regions in terms of market value and shares. This is mainly due to several stringent and strict government regulations incorporated by the prominent countries from this region such as U.S. and North America. As long as these regulations are implemented properly, along with a steady expansion of the power generation sector, North America is expected to continue this dominance. Apart from this region, Asia Pacific is expected show the most promising growth opportunities with regards to product development, mainly due to a rise in oil and gas sectors in the region.
Global Air Quality Monitoring Equipment Market: Competitive Landscape
The global air quality monitoring equipment market portrays a substantially consolidated competitive landscape. This is mainly due a few established companies holding the leading edge in terms of product sales, as compared to others. Thermo Fisher, Siemens AG, Teledyne Technologies Inc., and Horiba Ltd., are some of the leaders in this market, which held about 48% of the overall market shares in 2015. Most businesses operating in this sector manufacture and sell similar products, which only differ in a slight manner, at similar prices. Thus, the competition is expected to become prominently neck-to-neck in future.
The global air quality monitoring equipment market has been segmented as follows:
By End User
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