CHICAGO, June 5, 2024 /PRNewswire/ -- Air Quality Control Systems Market in terms of revenue was estimated to be worth $107.4 billion in 2024 and is poised to reach $150.7 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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Air Quality Control Systems Market Scope:
Report Coverage | Details |
Market Revenue in 2024 | $107.4 billion |
Estimated Value by 2029 | $150.7 billion |
Growth Rate | Poised to grow at a CAGR of 7.0% |
Market Size Available for | 2021-2029 |
Forecast Period | 2024-2029 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Sustainable Fuel Market by Fuel Type, state, type, end user, and Region. |
Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, and South America. |
Report Highlights | Updated financial information / product portfolio of players |
Key Market Opportunities | Technological Advancements |
Key Market Drivers | Increasing greenhouse gas emissions to promote air quality control systems |
Industrial, by End User, 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.
Electrostatic Precipitators, by technology, is expected to be the second fastest-growing segment during the forecast period.
The demand for electrostatic precipitators (ESPs) is expected to rise due to increasing environmental regulations and the need for efficient pollution control solutions. ESPs effectively remove particulate matter from industrial emissions, aligning with efforts to improve air quality. As industries seek to comply with stricter emission standards, the demand for ESPs will surge, consequently driving the market for air quality control systems.
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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.
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. The major strategies adopted by these players include new product launches, acquisitions, contracts, agreements, partnerships, joint ventures, collaborations, investments, and expansions.
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