PUBLISHER: The Business Research Company | PRODUCT CODE: 1455369
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455369
An air quality control system, also known as an air pollution control system, is a system, apparatus, or piece of equipment primarily designed to reduce or completely eliminate the release of air pollutants into the environment. Such systems are utilized for tracking climate change, monitoring air quality, identifying pollutant sources, and supporting research and development efforts.
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The air quality control system market size has grown strongly in recent years. It will grow from $114.45 billion in 2023 to $120.67 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. Historical growth can be attributed to stringent environmental regulations, increasing awareness of health impacts, industrial growth and urbanization, global efforts to combat climate change, and concerns regarding healthcare costs and productivity.
The air quality control system market size is expected to see strong growth in the next few years. It will grow to $148.11 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The forecasted growth can be attributed to the continued strengthening of environmental policies, increasing emphasis on real-time monitoring, expansion of smart cities initiatives, adoption of renewable energy sources, and prioritization of health and wellness. Major trends in the forecast period include the integration of IoT and AI technologies, technological innovations in control systems, advancements in air quality monitoring technologies, sensor technology advancements, and advancements in data analytics and visualization.
The increasing focus on indoor air quality is expected to drive the expansion of the air quality control system market. Indoor air quality (IAQ) pertains to the air quality within and surrounding buildings, emphasizing its impact on the comfort and health of occupants. Air quality control systems provide comprehensive solutions for addressing and enhancing indoor air quality by eliminating pollutants, managing ventilation, regulating humidity levels, and improving overall indoor environmental conditions. For example, in December 2023, the World Health Organization (WHO) reported that household air pollution contributed to an estimated 3.2 million annual deaths, including approximately 237,000 fatalities among children under five years old in 2020. Additionally, the American Lung Association revealed in April 2023 that 119.6 million Americans, or nearly 36% of the population, reside in areas with poor ozone or particle pollution ratings. Therefore, the increasing concerns regarding indoor air quality are poised to fuel the growth of the air quality control system market.
Key players in the air quality control system market are concentrating on developing products featuring advanced technologies, such as integrating smart IoT solutions into AQCS systems, to enhance their market position. Internet of Things (IoT) solutions utilize data collected by IoT devices, leveraging data from single or multiple sensors to uncover diverse insights. For instance, in March 2023, Siemens AG, a German automation and digitalization company, introduced the Connect Box through its subsidiary Siemens Smart Infrastructure (SI). The Connect Box, part of the Siemens Xcelerator line, is an open-source, user-friendly IoT solution designed to manage small to medium-sized buildings. It provides an intuitive method for monitoring building performance, significantly improving indoor air quality and maximizing energy efficiency in settings such as apartments, retail stores, schools, and small offices by up to 30%.
In July 2021, ANDRITZ AG, an Austrian company specializing in centrifugal pump production, acquired GE Steam Power's Air Quality Control System (AQCS) business for an undisclosed sum. This acquisition enables ANDRITZ to offer optimized solutions for new-build projects, expanding its capabilities in designing and constructing air pollution control equipment. GE Steam Power Inc. is a US-based provider of air quality control system solutions and services.
Major companies operating in the air quality control system market report are Siemens AG, General Electric Company, Thermo Fisher Scientific, Honeywell International Inc., 3M, Mitsubishi Hitachi Power Systems Ltd., Anguil Environmental Systems, Inc., ENVEA Group, Daikin Industries Ltd., Johnson Controls International plc, Alstom SA, Camfil AB, ANDRITZ AG, GEA Group Aktiengesellschaft, MANN+HUMMEL Group, Donaldson Company Inc., Pall Corporation, Durr AG, Thermax Limited, Babcock & Wilcox Enterprises Inc., Calgon Carbon Corporation, Clyde Bergemann Power Group, Doosan Lentjes GmbH, Balcke-Durr GmbH, Fuel Tech Inc., Sierra Instruments Inc., Buhler Technologies GmbH, Foster Wheeler AG, Hamon Corporation
Asia Pacific was the largest region in the air quality control system market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the air quality control system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the air quality control system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The air quality control system market consists of sales of selective catalytic reduction (SCR), electrostatic precipitator (ESP), flue gas desulfurization (FGD) system, and fabric filters. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Air Quality Control System Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on air quality control system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for air quality control system ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The air quality control system market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.