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Indoor Air Quality Monitors - Global Market Trajectory & Analytics

  • ID: 4805488
  • Report
  • April 2021
  • Region: Global
  • 362 pages
  • Global Industry Analysts, Inc
Heavily Dependent on Discretionary Income, the Erosion in Middle Class Income Induces a -15.3% Decline in Demand for Indoor Air Quality Monitors

The global market for Indoor Air Quality Monitors is expected to slump by -15.3% in the year 2020 and thereafter recover and grow to reach US$4.6 billion by the year 2027, trailing a post COVID-19 CAGR of 7.7% over the analysis period 2020 through 2027. Pre-COVID-19 growth which was guided by growing awareness over the different types of hazardous indoor air pollutants and the financial ability to invest air quality monitors is increasingly coming under pressure. The virus led global recession and the ensuing erosion in household wealth amid rising unemployment and business losses has massively disrupted consumer demand for indoor air monitors which is heavily dependent on discretionary income. While the pandemic is estimated to cost trillions of dollars to the global economy, another knock-on effect of COVID-19 is the rise in unemployment across the globe. As businesses struggle to keep afloat, job cuts and bankruptcies are expected to rise sending millions into unemployment. Rapid tightening of financial conditions, dwindling trade, and increasing geopolitical tensions, continue to erode business confidence. Personal financial outlook, economy, job security confidence, and purchasing and investment confidence are all tumbling as the human and economic cost of the global pandemic rises. Unemployment rates are climbing to worrisome levels in both developed and developing economies alike.

The loss in consumer confidence and erosion of household wealth and discretionary spending will impact virtually every industry and business worldwide. The pandemic has pushed consumers to conserve cash. With unemployment rates rising amid the virus induced economic crisis, consumers are cutting spending budgets. Unemployment rates have hit never-before highs with the US topping the charts with double digit growth in unemployment rates. Social outlook against this background remains grim with households expected witness erosion in wealth. As consumers reduce spending on digital technologies such as connected smart home devices, smartwatches, smartphones, tablets, video game consoles, among others, electronics manufacturing will also weaken. A fall-out of this general weakness in industrial and consumer consumption will result in decline in manufacturing and assembly line operations. As capital and corporate cost budgets are revised based on dwindling new orders and, falling plant capacity utilization rates, spending on plant upgrades will be delayed. Asset strategies, for instance, will be impacted as budgets for equipment upgrades and new equipment purchases will be either repurposed or cancelled to manage the financial pressure posed by the current economic climate. Similar to residential uses of indoor air monitors, commercial use is also declining as offices close down and shift their employees to the work-from-home model.

Post COVID-19, a new addition to the existing growth drivers will be studies that link air pollution to exacerbated respiratory viral infections including COVID-19. The pandemic has focused the spotlight on indoor air quality. With no vaccine in sight, the world is now forced to reopen and learn to live with the virus. Indoor Air Quality (IAQ) refers to the physical, biological, and chemical characteristics of indoor air affecting the health or comfort of people residing in a place. With poor IAQ being singled out as one among the major factors responsible for growing incidences of respiratory allergies and diseases, it is therefore of little surprise that indoor air quality now ranks high among the priority list of consumers. Deteriorating air quality is a major issue across the globe. Air quality, both outdoors and indoors, has a major impact on people's health. As per the World Health Organization (WHO), indoor air pollution causes nearly 2.7% diseases globally. Around 92% of total world population resides in areas wherein air quality levels tend to exceed the levels suggested by the WHO. In the last three decades, a major increase has been recorded wheezing illness in adolescents and children. Cases of asthma have also increased considerably. Air quality monitoring devices are used to identify and track the pollutant levels in both indoor and outdoor environments that include carbon monoxide, nitrous oxide, volatile organic compounds (VOCs) and particulate matters. VOC gases arise from diverse sources and the concentration of VOCs is higher in indoor environment compared to outdoor environment. Growing health concerns will drive demand for improved air quality, which in turn is expected to drive growth in the air quality monitors market. Given the stringent regulations on environmental pollution, several industries such as food processing, chemicals and other process industries will generate long term demand for indoor air quality monitors post COVID-19 pandemic scenario. In addition to the industrial sector, the government, commercial and residential buildings are the major users of indoor air quality monitors. As clean air continues to garner interest among all stakeholders, demand for indoor air quality monitors is expected to grow steadily in future, after a temporary lull in 2020.

Select Competitors (Total 51 Featured):
  • 3M Company
  • Aeroqual Ltd.
  • Camfil AB
  • Daikin North America LLC.
  • Emerson Electric Co.
  • Horiba, Ltd.
  • Lennox International Inc.
  • Panasonic Corporation
  • Siemens AG
  • Teledyne Technologies Incorporated
  • Testo SE & Co. KGaA
  • Thermo Fisher Scientific Inc.
  • Trane Technologies plc
  • Trion, Inc.
  • TSI Incorporated
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • World Market Trajectories
  • COVID-19 Outbreak Poised to Dent Market Prospects in the Immediate Term
  • Prevailing Weak Global Economic Environment & Negative Tide in GDP Forecasts Discourage the Indoor Air Quality Monitors Market in Short Term
  • Exhibit 1: World Economic Growth Projections (Real GDP, annual % Change) for 2019, 2020 & 2021
  • Exhibit 2: As One of the Most Closely Watched Economic Indicators, the PMI Growth Movement Keeps the Industry on the Edge With Anxious Anticipation: Global PMI Index Points for the Years 2018, 2019 & 2020
  • Exhibit 3: Business Climate Indicator in the Euro Area for the Period June 2019 to May 2020
  • Exhibit 4: Business Confidence Index (BCI) Points for 3Q 2019, 4Q 2019, 1Q 2020, & 2Q 2020
  • COVID-19 Restrictions and Lockdowns Led to Remarkable Improvement in Air Quality
  • Correlation between Air Quality & Health Enable Indoor Air Quality Monitors to Enjoy Limelight amid COVID-19
  • Resumption of Economic Activity Needs Creation of Safe, Healthy Indoor Environments
  • Key Air Quality Metrics to Alleviate Risk of COVID-19 Transmission Indoors
  • Strategies to Ensure Proper Monitoring of Indoor Air Quality for Fight against COVID-19
  • COVID-19 Makes Indoor Air Quality Monitoring to Warrant Needed Attention
  • An Overview of Indoor Air Quality Monitors (IAQM)
  • Poor Air Quality: Effects on Health
  • Enhancing Indoor Air Quality
  • Brief Note on Technology Used in IAQM
  • Selecting the Right Air Quality Monitor
  • Gripping Air Pollution Helps Global Air Quality Monitors Market to Maintain Momentum with More Fervor
  • Prominent Drivers Propelling Indoor Air Quality Monitors Market to Run a Marathon
  • Product Type: PorTable Indoor Monitors Grows the Fastest
  • Exhibit 5: World Indoor Air Quality Monitors Market by Product Type (2020 & 2027): Percentage Breakdown of Sales for Fixed Indoor Monitors, and PorTable Indoor Monitors
  • Analysis of Monitors by Pollutant Type
  • Exhibit 6: World Indoor Air Quality Monitors Market by Pollutant Type (2020 & 2027): Percentage Breakdown of Sales for Chemical Pollutants Monitor, Physical Pollutants Monitor, and Biological Pollutants Monitor
  • Analysis by End-Use
  • Exhibit 7: World Indoor Air Quality Monitors Market by End-Use (2020 & 2027): Percentage Breakdown of Sales for Fixed Indoor Monitors, and PorTable Indoor Monitors
  • Regional Analysis: Indoor Air Quality Monitors Market Holds Bright Prospects for Asia-Pacific
  • Exhibit 8: World Indoor Air Quality Monitors Market (2020 & 2027): Percentage Breakdown of Sales for Developed and Developing Regions
  • Exhibit 9: World Indoor Air Quality Monitors Market - Geographic Regions Ranked by Value CAGR for 2020-2027: China, Asia-Pacific, Rest of World, USA, Canada, Europe, and Japan
  • Competitive Scenario
  • Recent Market Activity
  • Rising Awareness About Ambient Indoor Air Quality Augurs Well
  • Deteriorating Air Pollution Levels & Rising Need to Improve Air Quality Spur Demand
  • A Glimpse at Common Air Pollutants
  • Major Indoor Pollutants and their Impact on Health: A Snapshot
  • Exhibit 10: Global Indoor Air Pollution Related Fatalities by Health Condition (2020E): Percentage Breakdown of Deaths for ALRI, COPD, Ischemic Heart Disease, Lung Cancer, and Stroke
  • Exhibit 11: Global Carbon Dioxide (CO2) Emissions (in Billion Metric Tons): 2010-2019
  • Exhibit 12: Countries with the Highest Carbon Emissions Worldwide (2020): Percentage Breakdown for China, US, India, Russia, Japan, and Others
  • Exhibit 13: Air Pollution Levels (PM10 ug/m3) for Major Countries Worldwide
  • Rising Incidence of Asthma and Air Borne Allergies Provide the Perfect Platform for Market Expansion
  • Rising Emphasis on IAQ in Commercial Environments Underpins Revenue Growth
  • Residential Buildings: The New Growth Vertical
  • Popularity of Smart Homes Drives Demand
  • Exhibit 14: Global Smart Homes Market by Category in US$ Billion for the Years 2020 and 2022
  • Relevance in Industrial Environments Bodes Well
  • Novel Opportunities in Healthcare Sector
  • Construction Spending Patterns Influence Uptake of IAQ Monitors
  • Exhibit 15: World Construction Industry (in US$ Trillion) for the Years 2017, 2019 & 2022
  • Favorable Demographic and Socio-Economic Trends Strengthen Market Prospects
  • Growing Population & Urban Sprawl
  • Exhibit 16: World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Exhibit 17: World Urban Population in Thousands: 1950-2050P
  • Exhibit 18: Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
  • Aging Population: A Weighty Demographic Driver
  • Exhibit 19: Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • Exhibit 20: Elderly Population (65+ Years) as a % of Total Population by Developed, Less Developed and Least Developed Regions: 2019 & 2030
  • Technology Advancements & Innovations Spur Demand
  • A Review of Select Technologically Advanced IAQ Monitors
  • Mobile Apps Simplify the IAQ Monitoring Process
  • Select Innovations and Advancements
  • Air Quality Regulations & Standards Favor Growth
  • United States
  • Select Other Countries
  • International Air Quality Agreements
  • Online Channels Enhance Product Promotion & Distribution Strategies
  • Issues & Challenges
  • Low Awareness Levels
  • Pricing Pressures & Low Operating Margins
  • Dearth of Universal Standards
III. MARKET ANALYSIS
  • Active Players in United States
  • Air Monitoring: Critical to Environmental Monitoring
  • Exhibit 21: US Environmental Sensing and Monitoring Technologies by Application (2020) - Percentage Breakdown of Revenues for Air monitoring, Water Monitoring, Soil Monitoring and Noise Monitoring Markets
  • Indoor Air Quality Monitors Market to Significantly Decline Amid COVID-19 Pandemic
  • Exhibit 22: Total Construction Starts (in US$ Billion) in the US for the Years 2015 through 2020(E)
  • Negative Trend in the Residential Construction Sector Discourages the Market
  • Exhibit 23: Key Indicators for US Residential Construction Market
  • Long-Term Prospects for Monitors Remain Optimistic amid Growing Concerns over Deteriorating Indoor Air Quality
  • Surging Air Pollution Levels in the United States: Steps Taken by EPA
  • Exhibit 24: Top Polluted Cities in the United States by PM2.5 Level (in ug/m3) (2019)
  • Exhibit 25: US PM2.5 Air Quality, 2010-2019 (Concentration μg/m3)
  • EPA Measures for Curbing Air Pollutants
  • IAQ Awareness Drives Further Legislative Initiatives
  • Active Players in Canada
  • Market Overview
  • Active Players in Japan
  • Active Players in China
  • Environmental Monitoring Market to Sustain Pace
  • VOC Monitoring to Drive Growth
  • Changing Focus of Chinese Environmental Monitoring Program: A Comparison of Key Indicators of Air and Water Quality Monitoring for 12th and 13th Five-Year Plans
  • Stringent Regulatory Standards on Air Pollution Control Steer Growth of Indoor Air Quality Monitors Market
  • Exhibit 26: Most Polluted Cities and PM Level in China: 2019
  • Market Overview
  • Weak Construction Activity Curtails Momentum
  • Emphasis on Curbing Air Pollution Augurs Well for Long-Term Growth
  • Active Players in France
  • Active Players in Germany
  • Active Players in Italy
  • Active Players in United Kingdom
  • Market Overview
  • Active Players in Rest of Europe
  • Active Players in Asia-Pacific
  • Sluggish Scenario Deters Current Market Prospects
  • Long-Term Growth Remains Intact Amid Rising Concerns over Air Pollution
  • Exhibit 27: Major Asian Countries Ranked in terms of Air Pollution (Annual Mean PM 2.5 ug/m3): 2019
  • Rising Standards of Living Fuel Market Expansion
  • Active Players in Rest of World
IV. COMPETITION
  • Total Companies Profiled: 51
Note: Product cover images may vary from those shown
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