According to the latest research report, the global hvac air quality monitoring market is expected to record 7% CAGR during the forecast period 2019-2025
Selbyville, DE -- (SBWIRE) -- 06/30/2020 -- HVAC Air Quality Monitoring will surpass USD 6 billion by 2025. Rising worldwide pollution concerns have led to many green initiatives such as green building, green energy, etc. Along with new sustainable development goals 2030 into effect all across the globe, the product demand will escalate in near future. Also, increasing pollution is likely to affect the indoor air quality leading to formation of biological impurities such as fungi and molds causing asthma and other allergic responses, that can affect an individual's health. Many global associations & organizations have framed strict regulations for monitoring indoor air quality. For instance, The Department of Health in England has asked NICE (National Institute for health and Care Excellence) to develop guidance on indoor air pollution. This is likely to monitor pollutants from furnishing & cleaning products, building materials and other activities such as cooking and smoking as pollutants from such activities are subject to temporal and spatial variations, thus making indoor air quality monitoring essential in coming years.
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Emerging economies from Latin America and Asia-pacific contribute to major portion of global pollution. Rapid industrialization and urbanization activities in these regions have degraded the indoor air quality to hazardous level. While governments in these regions are now focused to formulate strong regulations and strengthen to the indoor air quality controlling & monitoring. However, high product cost and limited public awareness can restrain the growth of HVAC air quality monitoring market over forecast timeframe.
Based on product, the market is segmented into portable and stationary HVAC air quality monitors. The portable segment will witness an annual growth rate of around 6.5% over the forecast time period. Portable HVAC air quality monitors are mainly used in short term air quality studies, site air quality surveys and short-term fixed monitoring applications. These equipment measure indoor pollutants, industrial gases, particulate matter (PM10, PM2.5), temperature and relative humidity.
On the basis of pollutants, the market is categorized into chemical, biological & physical pollutants. Among these, physical pollutants are likely to witness a CAGR of around 7% from 2019 to 2025. Physical pollutants are discarded material to the environment in form of trash, mainly from industries and residential sectors.
The institutional sector will generate around USD 1.5 billion for HVAC air quality monitoring market in 2025, showing an incremental growth rate throughout forecast time period. Institutional sector comprises of hospitals, schools, colleges, public auditoriums etc. Developing economies are investing more for social infrastructures to improve the human development index, bolstering the HVAC air quality monitor demand over the forecast timeframe.
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Europe is likely to showcase growth rate of a little over 6.5% from 2019 to 2025 in global HVAC air quality monitoring market. High public awareness, rising investments for technological developments and extensive regulations implemented for indoor air quality controlling & monitoring in the region will propel the product market in near future.
Some of the prominent players in HVAC Air Quality Monitoring market are the Honeywell, 3M Company, Siemens, Testo, Biovac System Thermo Fisher, Emerson Electric Co., TSI Incorporated, Aeroqual, Air Monitors.
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