Dublin, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The "Particulate Matter Monitoring Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global particulate matter monitoring market has grown rapidly in recent years. It will grow from $1.4 billion in 2023 to $1.57 billion in 2024 at a compound annual growth rate (CAGR) of 12.5%. North America was the largest region in the particulate matter monitoring market in 2023. The expansion observed in the historical period can be ascribed to factors such as the implementation of industrial emissions control measures, urbanization, population growth, increased public awareness regarding environmental issues, governmental initiatives aimed at enhancing air quality, and the ongoing development of smart cities.
The particulate matter monitoring market is expected to see rapid growth in the next few years. It will grow to $2.48 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The anticipated growth in the forecast period can be ascribed to worldwide endeavors to address climate change, a heightened emphasis on integrating environmental data, public health initiatives, a focus on indoor air quality, preparedness for global health crises, and advancements in data analytics. Noteworthy trends expected in the forecast period encompass the integration of sensor technologies, the establishment of air quality monitoring networks, technological enhancements in monitoring devices, collaborative ventures and partnerships, the utilization of satellite-based monitoring, and the adoption of real-time data visualization.
The anticipated expansion of the oil and gas industry is projected to drive the growth of the particulate matter monitoring market in the future. For instance, in March 2021, the International Energy Agency (IEA) forecasted a yearly increase in global oil consumption up to 2026, reaching 104 million barrels per day (mb/d). Additionally, British Petroleum reported a 5.3% surge in global natural gas consumption in 2021, surpassing 4 trillion cubic meters. Consequently, the growth of the oil and gas industry is a driving force behind the expansion of the particulate matter monitoring market.
The rising prevalence of respiratory diseases is expected to contribute to the growth of the particulate matter monitoring market in the future. For instance, in June 2023, The Australian Institute of Health and Welfare reported that almost one-third (30%) of the Australian population, approximately 7.5 million people, suffered from chronic respiratory conditions in 2020-2021. Furthermore, The Centers for Disease Control and Prevention recorded 142,342 deaths due to chronic respiratory conditions in the US in 2021. Therefore, the increasing prevalence of respiratory diseases is a significant factor driving the growth of the particulate matter monitoring market.
Advancements in particulate matter monitoring represent a notable trend gaining traction in the particulate matter monitoring market. Leading companies in the market are shifting towards advanced solutions for monitoring particulate matter. For example, in May 2022, TSI, a US-based company in particulate matter monitoring, introduced enhancements in respirable silica monitoring with its SidePak AM520 Personal Aerosol Monitor. Noteworthy features include the ability to store custom calibration factors, dual display, and data logging for respirable silica, and advanced alarm features for both mass concentration and response concentration (action limit) values.
Major companies in the particulate matter monitoring equipment market are embracing innovative technological products such as the AQT530 sensor to maintain their market position. The AQT530 sensor, launched by Vaisala Oyj in June 2021, is an air quality sensor designed to enhance monitoring solutions and improve overall quality of life, safety, efficiency, and sustainability. It provides accurate and reliable measurements of various air quality parameters, including particulate matter (PM2.5 and PM10), nitrogen dioxide (NO2), sulfur dioxide (SO2), carbon monoxide (CO), and ozone (O3) concentrations in the air. The sensor ensures 24/7 reporting of measurement data, transmitted wirelessly to a web-based database with advanced algorithms.
In March 2021, Standard Motor Products Inc., a US-based manufacturer and distributor of automotive parts, successfully acquired the particulate matter sensor business of Stoneridge Inc. for an undisclosed amount. This acquisition enables Standard Motor Products Inc. to focus on advanced emissions control technology for commercial vehicles, particularly in the original equipment heavy-duty market. Stoneridge Inc., a US-based company in particulate matter monitoring, played a significant role in this business transfer.
Report Scope
Markets Covered:
- By Product Type: Indoor Monitoring; Outdoor Monitoring.
- By Particle Size: PM1; PM2.5; PM5; PM10.
- By Technology: Light Scattering; Beta-Attenuation; Gravimetric; Opacity; Other Technologies.
- By Application: Process Industries; Ambient Air Monitoring; Indoor Air Monitoring; Healthcare; Other Applications.
Key Companies Mentioned: Aeroqual Ltd.; Met One Instruments Inc.; Rupprecht & Patashnick Co. Inc.; Aerojet Rocketdyne; Pegasor Oy.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa.
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
A selection of companies mentioned in this report includes:
- Aeroqual Ltd.
- Met One Instruments Inc.
- Rupprecht & Patashnick Co. Inc.
- Aerojet Rocketdyne
- Pegasor Oy
- Ecotech Pty Ltd.
- Environnement SA
- Testo AG
- KANOMAX USA Inc.
- Palas GmbH
- Cerex Monitoring Solutions LLC
- PerkinElmer Inc.
- Teledyne Technologies Incorporated
- Tisch International Incorporated
- Opsis AB
- ACOEM Group
- GRIMM Aerosol Technik GmbH & Co. KG
- MSP Corporation
- GrayWolf Sensing Solutions
- FLIR Systems Inc.
- Naneos GmbH
- Particle Measuring Systems
- MCZ Centrum s.r.o.
- Sintrol
- Aphekom Consortium
- Bristol Industrial & Research Associates
- Nephelometer Systems Ltd.
- The Scoular Company
- The Andersons Inc.
- The Dow Chemical Company
For more information about this report visit https://www.researchandmarkets.com/r/6xjlc7
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