Rising air pollution drives growth in air quality monitoring
According to market research released today Aeroqual is now a major player in the market for air quality monitoring equipment, a market forecasted to be worth $6,147.77 Million by 2019. The company is recognized alongside other major players such as 3M Corporation, Honeywell International and Thermo Fisher Scientific.
The report states that ‘rising air pollution will be the most important growth drivers for this market’. Air pollution is a serious global problem and solving the problem begins with monitoring. However the report also cites the ‘high cost of equipment and lack of government funding for research’ as a barrier to growth. As a result the affordable yet accurate instruments designed and marketed by Aeroqual are a key ingredient to the global air pollution solution.
Markets and Markets, the Dallas, Texas firm behind the research, is ranked no 2 in the world for annually published market research reports. Their report, published in March 2015, gives an overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the global Air Quality Monitoring Equipment Market along with the estimates and forecasts of the revenue and market share analysis.
The overall market is predicted to grow to reach $6,147.77 million by 2019 from $3,965.25 million in 2014, growing at a CAGR of 9.15% between 2014 and 2019. In their analysis, the authors show that North America accounted for the largest share of the market in 2014, ‘due to increased health concerns and stringent air pollution control norms by government organizations’. The Asian regional segment is expected to grow at the fastest rate from 2014 to 2019.
Aeroqual makes the global top 10
Aeroqual is a relatively young company compared to some of the well-established multinational corporations identified in the report – Honeywell and 3M, for example. Founded in 2001 Aeroqual has been pioneering lower cost sensor based measurement techniques for air quality. The fact that Aeroqual is getting recognition alongside traditional manufacturers confirms that sensor-based air quality monitoring is reaching mass market acceptance.
According to the report the other major market players are: 3M Company (U.S.), Cerex Monitoring Solutions, LLC (U.S.), Honeywell International, Inc. (U.S.), HORIBA, Ltd. (Japan), PerkinElmer, Inc. (U.S.), Teledyne Technologies, Inc. (U.S.), Thermo Fisher Scientific Corporation (U.S.), Tisch International (U.S.), and TSI, Inc. (U.S.).