WASHINGTON, Oct. 12, 2022 (GLOBE NEWSWIRE) -- According to Vantage Market Research recent analysis of the Air Quality Control Systems Market, the rising emission of acid gases such as mercury, and SO2 by several power plants will fuel the market growth during the projected period 2021-2028. Additionally, the government's stringent restrictions and such as Clean Air Act (CAA), Mercury, and Air Toxics Standard have increased demand for air quality control systems that monitor and controls emissions to bring them to a safer level.
Air pollution is the contamination of an indoor or outdoor environment by any physical or biological, or chemical agent that modifies the natural characteristics of the environment. Motor vehicles, Household combustion equipment, industrial facilities, and wildfires are common sources of air pollution. Pollutants of major public health concern include carbon monoxide, particulate matter, ozone, sulfur dioxide, and nitrogen dioxide. Outdoor and indoor air pollution causes respiratory and other diseases and is a significant source of morbidity and mortality.
The Qualitative research report has been prepared through in-depth secondary research, with the defined historic year and the base year, assessments and calculations are performed and the research report is delivered with the promise made to the reader's needs.
The global market was valued at USD 95.32 Billion in 2020, and according to Vantage expert analysis, the air quality control systems market size is expected to reach over USD 142.12 Billion by 2028, exhibiting a CAGR of 5.0% during the forecast period.
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Key Insights and Findings from the Comprehensive Report:
- The global air quality control systems market was valued at USD 95.32 billion in 2020 and is all set to surpass USD 142.12 billion by 2028, exhibiting a CAGR of 5.0.1% during the forecast period 2022-2028.
- Government strict regulations such as the Clean Air Act (CAA) and other standards support the growth of the market.
- In the year 2021, about 67 million tons of pollution were emitted into the atmosphere in the United States.
- Air pollution kills an estimated 7 million people across the globe every year. WHO data shows that 9 out of 10 people breathe air containing high levels of pollutants.
- The Asia Pacific accounts for the lion's share of the air quality control systems industry in 2021 with a total market share of 52.81% and is projected to continue its position over the forecast period. The growth is attributed due to the significant demand for air quality control systems in several industries and the high adoption rate owing to government measures that stimulate this industry in this region.
Top Companies Profiles:
- Babcock & Wilcox Co. (OHIO, UNITED STATES)
- Mitsubishi Hitachi Power Systems, Ltd. (YOKOHAMA, JAPAN)
- Alstom Sa (SAINT-OUEN, FRANCE)
- Thermax Ltd. (PUNE, INDIA)
- Foster Wheeler Ag (BAAR, SWITZERLAND)
- Ducon Technologies Inc. (NEW YORK, UNITED STATES)
- Siemens Ag (MUNICH, GERMANY)
- Hamon Corporation (SOMERVILLE, NJ)
- KBR, Inc. (TEXAS, U.S.)
Market Dynamics and Growth Drivers:
Increasing Harmful and Toxic Pollutants to Drive the Market Growth
According to Vantage secondary research, an independent executive agency of the United States federal government, emissions of air pollutants play a significant role in many air quality issues. Along with amazing technological advances, the Industrial Revolution of the mid-19th century introduced new sources of air pollution. In the year 2021, about 67 million tons of pollution were emitted into the atmosphere in the United States. These emissions mostly contribute to ozone and particulate matter build-up, visibility loss, and acid deposition. Air quality control systems provide complete means to purify exhaust gas emissions from various sources. The toxic pollution of artisanal gold mining is one of the major sources. According to Vantage, a research expert study, artisanal gold mining is estimated to release almost 1,000 tons of toxic mercury per year, which constitutes about 30% of the world's mercury emissions. Almost a quarter of the world's total gold supply comes from artisanal gold mining, and about 15 million gold miners, including 4.5 million women and 600,000 children, have been poisoned by direct exposure to mercury. In addition, mercury travels through rivers and air worldwide, resulting in the contamination of seafood around the world. Thus, increasing air pollution and health problems have increased the demand for air quality control systems.
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Scope of the Report:
| Report Attributes | Details | |
| Market Size in 2022 | USD 95.32 Billion | |
| Revenue Forecast by 2028 | USD 142.12 Billion | |
| CAGR | 5.0% from 2021 to 2028 | |
| Base Year | 2021 | |
| Forecast Year | 2021 to 2028 | |
| Key Players | • Daikin Industries Ltd. • Mitsubishi Hitachi Power Systems, Ltd (MHPS) • Babcock & Wilcox Enterprises, Inc. • ELEX AG • Donaldson Company, Inc. • GEA Group Aktiengesellschaft • GE Power • MANN+HUMMEL Intern. GmbH & Co. KG • HAMON Group • Thermax Ltd. | |
Government Stringent Air Pollution Control Regulations to Fuel the Growth of the Market
The rising government's strict regulation and other standards support the growth of the market over the estimated time frame. In fact, According to VMR surveys and research, in 2021, U.S. greenhouse gas emissions increased by 6% totaling 95 million metric tons of carbon dioxide equivalents. An increase in greenhouse gas emissions has led to the implementation of regulations around the world to reduce the effects of greenhouse gases and global warming. As result, the European Union has set a target of net-zero greenhouse gas emissions by 2050. Furthermore, as part of the European Green Deal, the EU has revised the Ambient Air Quality Directive to more closely align air quality standards with World Health Organization (WHO) recommendations. The Inception Impact Assessment outlines the Commission's approach to adoption planned for the second half of 2022.
The report on the Air Quality Control Systems Market highlights:
- Assessment of the market
- Premium Insights into Industry
- In-depth Competitive Landscape
- COVID Impact Analysis
- Historical Data, Current Data, and Forecast Data
- Top and Emerging Company Profiles
- Global and Regional Dynamics
Vantage Market Research Segment Analysis:
- The outdoor monitor segment of the air quality control system market is considered to be the fastest-growing segment over the forecast timeline. This growth is expected largely due to public-private investment in developing affordable products and the rising availability of small and portable products.
- The power generation industry segment is expected to dominate the growth of the air quality control system market during the estimated time frame. Rising industrialization and rise in pollution are the factors that are driving the segmental growth of the air quality control system industry in the upcoming years.
Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on Air Quality Control Systems Market Forecast Report (2022-2028).
Regional Analysis:
The Asia Pacific to Witness Rapid Growth
The Asia Pacific accounts for the lion's share of the air quality control systems industry in 2021 with a total market share of 52.81% and is projected to continue its position over the forecast period. It is recognized for increasing emissions of toxic pollutants and exhaust gases, especially in India and China. Huge chemical industries, coal-fired power plants, the massively growing cement industry, and evolving air pollution control regulations in emerging economies such as India and China are some of the factors driving the demand for air quality control systems in these regions.
These two economies are experiencing extraordinary economic growth and require large amounts of electricity. China is the largest energy consumer while India is the third largest energy consumption due to the increasing number of coal and gas-fired power plants which contribute significantly to the air quality in these countries. In addition, emerging economies in Southeast Asia, including Thailand and Indonesia, are undergoing rapid industrialization and urbanization leading to high emissions of toxic pollutants and exhaust gases. All these factors will fuel the growth of the Asia Pacific air quality control system market.
Moreover, the rising demand for air quality systems in Europe and North America are expected to witness substantial growth during the forecast period. It is certified under stringent air quality regulations in countries such as the U.S., France, Germany, and Italy.
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Recent Developments:
- At the beginning of October 2021: Ricardo, a global engineering, environmental, and strategic consulting firm, will provide prime air quality data analysis and monitoring in the Middle East region with a three-year contract. Working in integration with air monitoring equipment provider Envirozone LLC, the company will provide audits, data validation, and quality assurance from the Saudi Arabian capital's world-class monitoring network for the Royal Commission for the City of Riyadh.
- At the beginning of October 2021: Ball Aerospace & Technologies Corp. has awarded a 20-month contract for the National Oceanic and Atmospheric Administration's Geostationary Extended Observations (GeoXO) study that will provide 3-D atmospheric data sets for US emergency managers and forecasters. In addition to delivering real-time situational awareness, the devices will also improve air quality monitoring, which will help reduce the health effects of pollution, Ball's vice president said in a statement.
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