Air Quality Control Systems Market Likely to Boost Future Growth by 2029

Posted by Siddhant on July 1st, 2024

The global Air Quality Control Systems Market in terms of revenue was estimated to be worth 7.4 billion in 2024 and is poised to reach 0.7 billion by 2029, growing at a CAGR of 7.0% from 2024 to 2029 according to a new report by MarketsandMarkets™.

The demand for air quality control systems is on the rise due to various factors. Expansion in industries like manufacturing, automotive, and construction contributes to increased adoption of air pollution control measures. Additionally, population growth leads to higher levels of air pollution from increased vehicle emissions, construction activities, and energy consumption, thereby driving the need for air pollution control systems. Financial uncertainties are also a driving factor, as companies seek protection against potential losses arising from unforeseen events.

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Industrial is expected to be the largest segment during the forecast period.

The industrial sector is poised to dominate the Air Quality Control Systems Market due to several reasons. Expansion in industries such as manufacturing, automotive, construction, power generation, and chemical production significantly contributes to air pollution. This heightened industrial activity necessitates robust air pollution control measures to comply with stringent regulations and address growing public health concerns. Consequently, the demand for air quality control systems, including pollution monitoring and mitigation solutions, is expected to be highest in the industrial segment, reflecting the industry's crucial role in environmental sustainability and regulatory compliance.

Asia Pacific is expected to be the fastest-growing region during the forecast period.

The Asia-Pacific region is poised to lead the Air Quality Control Systems Market due to rapid industrialization and construction activities, particularly in countries like India and China. This growth is driven by stringent environmental regulations, increasing awareness about air pollution, and rising public health concerns. As these nations strive for sustainable development, the demand for air quality control systems escalates, making APAC the largest market for such solutions.

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Europe is expected to account for the second-largest market during the forecast period.

The European market is being driven by a large potential market, government support (in the form of feed-in-tariff in the U.K.) and focus on emission reduction targets. In addition, European countries made a unilateral commitment in 2007, to cut the region’s greenhouse gas emissions by at least 20%. To reach this target, Europe has introduced a package of binding legislation. AQCS has been identified as one of the technologies that can assist in meeting this target. As a result, Europe has introduced various support schemes for this emerging sector. The region has a stable political environment and secure regulatory systems.

Key Market Players of Air Quality Control Systems Industry:

Some of the major players in the Air Quality Control Systems Market are Mitsubishi Heavy Industries (Japan), GE Vernova Inc (US), GEA (Germany), Daikin Industries, Ltd. (Japan) and Donaldson Company, Inc. (US) among others.