Air Quality Monitoring (AQM) Market Growing due to Increasing Air Pollution

Growing levels of air pollution, increasing awareness on environment and health, and positive government regulations are some of the key factors behind the growth of the air quality monitoring (AQM) market, finds P&S Intelligence. The market attained a size of $3.9 billion in 2017, and it is expected to advance at a CAGR of 8.9% during the forecast period (2018–2023). AQM refers to the analyzing and monitoring of various air pollutants in the outdoor and indoor environment.

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Based on product, the air quality monitoring market is bifurcated into outdoor and indoor air quality monitors. Of these, the market for outdoor air quality monitors is predicted to witness faster growth with a CAGR of 10.5% during the forecast period. This is ascribed to the rising amount of toxic substances released by various industries, which is leading to the increasing adoption of AQM products to help decrease air pollution levels.  

Further, the market is categorized into chemical, biological, and physical pollutants. Among these, the chemical category contributed the highest revenue in the market during the historical period (2013–2017). This is because of the fact that the government of various countries are increasingly adopting AQM devices for detecting the presence of harmful gases in the environment. Now, based on sampling method, the AQM market is classified into manual, passive, continuous, and intermittent. Out of these, the continuous classification is anticipated to register a CAGR of 9.8% and also dominate the market in terms of value during the forecast period.

Fossil fuels, such as oil, gas, and coal, are some of the products that release high amounts of toxic gases, such as methane, carbon dioxide, and nitrous oxide. Published by the United Nations, the Intergovernmental Panel on Climate Change (IPCC) 2014 report claims the heat production and electricity sector contributed 25.0% of the total greenhouse gas emissions and the industrial domain 21.0%. Hence, due to the rising contribution to air pollution by all sectors, there has been a significant surge in the demand for AQM products across the world, which is driving the air quality monitoring market.

Thus, the increasing level of pollution and surging urban population are expected to escalate the growth of the market.