Europe Indoor Air Quality Monitoring Solution Market to Reach USD 1,321.4 Million by 2029 | IAQ Industry CAGR 6.9%
According to Fortune Business Insights, the global Europe Indoor Air Quality (IAQ) Monitoring Solution Market Size is projected to reach USD 1,321.4 Million by 2029, at CAGR of 6.9% during forecast period 2022-2029
Pune, India, Sept. 29, 2022 (GLOBE NEWSWIRE) -- The Europe Indoor Air Quality (IAQ) monitoring solution market size was valued at USD 779.0 million in 2021. The market is expected to grow from USD 830.6 million in 2022 to USD 1,321.4 million by 2029, exhibiting a CAGR of 6.9% during the forecast period. Increasing smart home constructions and the rising adoption of UN frameworks to reduce greenhouse gas emissions are expected to fuel market progress. Fortune Business Insights™ provides this information in its report titled “Europe Indoor Air Quality (IAQ) Monitoring Solution Market, 2022-2029.”
COVID-19 Impact:
Constant Demand for Optimum Air Quality Fueled Market Progress
The market was positively impacted during the COVID-19 pandemic due to the rising demand for optimum air quality as the sudden spike in COVID-19 infections contaminated the air. Furthermore, manufacturers opted for online retail to improve their sales and continue operations. Moreover, manufacturers opted for reduced capacities, advanced production techniques, and part-time shifts to enhance their growth prospects. These factors fueled the Indoor Air Quality (IAQ) monitoring solution industry’s growth during the pandemic.
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Segments
Fixed Indoor Monitor Segment to Dominate Owing to Increasing Installations Across Industrial and Commercial Applications
By type, the market is segmented into portable indoor monitor and fixed indoor monitor. The fixed indoor monitor segment is expected to dominate owing to rising installations across industrial and commercial applications.
Residential Segment to Dominate Owing to Extensive Demand for Fresh Indoor Air Quality (IAQ)
Based on application, the market is segregated into government buildings, residential, commercial, industrial, and others. The residential segment is expected to dominate owing to extensive demand for fresh Indoor Air Quality (IAQ). Country-wise, the European market is clubbed into Germany, France, the U.K., Italy, Spain, Sweden, Russia, and the rest of Europe.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints
Rising Pollution to Fuel Industry Growth
IAQ monitoring solution refers to the air quality around building structures. Rising air pollution worldwide is expected to fuel the demand for the monitoring solution. Furthermore, poor spaces, ventilation issues, and health concerns may lead to the industry’s growth. Moreover, the increasing risks of pollution among children and the elderly population are likely to foster the adoption of Indoor Air Quality (IAQ) monitoring solutions. Also, rising indoor pollutants are expected to foster the adoption of air monitoring solutions. These factors may drive the Europe Indoor Air Quality (IAQ) monitoring solution market growth.
However, high production costs associated with the air monitoring solution may hinder the industry’s growth.
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Regional Insights
Increasing Government Initiatives for Limiting Adverse Health Effects to Foster Growth in Germany
Germany is projected to dominate the Europe Indoor Air Quality (IAQ) monitoring solution market share due to rising government initiatives for limiting adverse health effects. The market in Germany stood at USD 172.5 million in 2021 and is expected to gain a huge portion of the market share in the coming years. Furthermore, the increasing demand for smart care products may propel the industry growth.
In Italy, the increasing development of the industrial sector is expected to foster the demand for monitoring solutions. Furthermore, rising demand for IoT-enabled IAQ sensors in commercial and residential applications is expected to propel the industry growth.
Europe Indoor Air Quality (IAQ) Monitoring Solution Market -Report Scope & Segmentation:
| Report Attribute | Details |
| Market size value in 2022 | USD 830.6 Million |
| Revenue forecast in 2029 | USD 1321.4 Million |
| Growth Rate | CAGR of almost 6.9% 2022-2029 |
| Base Year | 2021 |
| Historic Years | 2018 - 2020 |
| Forecast Years | 2022 - 2029 |
| Segments Covered | By Type, By Application, By Country |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2022 to 2029 |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | Testo SE & Co. KGaA (Germany), Airthings (Norway), 3M (U.S.), Vaisala (Finland), Honeywell International (U.S.), InsightAir (Bulgaria), IOT Factory (Belgium), ENVIRA IOT (Spain), Aeroqual (New Zealand), ROTRONIC AG (Switzerland) |
| Europe Indoor Air Quality (IAQ) Monitoring Solution Market Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
Competitive Landscape
Major Players Announce Novel Products to Elevate their Brand Image
The prominent companies operating in the market announce novel products to elevate their brand image. For example, ENVIRA IOT announced its novel IAQ device in September 2020. This device showcases the transmission risk index by determining environmental conditions. It offers healthy air and monitors air quality. This strategy may allow the company to elevate its brand image and attract more consumers. Furthermore, companies devise research and development, mergers, acquisitions, partnerships, and automation to boost their market position globally.
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Key Industry Development
- August 2021- Envira IoT partnered with Sinay to expand its presence in France and offer wireless monitoring air quality networks.
List of Key Players Profiled in the Report
- Testo SE & Co. KGaA (Germany)
- Airthings (Norway)
- 3M (U.S.)
- Vaisala (Finland)
- Honeywell International (U.S.)
- InsightAir (Bulgaria)
- IOT Factory (Belgium)
- ENVIRA IOT (Spain)
- Aeroqual (New Zealand)
- ROTRONIC AG (Switzerland)
Table of Content:
-
Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
-
Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
-
Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Europe Indoor Air Quality Solutions Key Players Market Share Insights and Analysis, 2021
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Europe Indoor Air Quality (IAQ) Monitoring Solution Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
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- Key Findings
- By Type (USD Mn)
- Fixed Indoor Monitor
- Portable Indoor Monitor
- By Application (USD Mn)
- Residential
- Commercial
- Industrial
- Government Buildings
- Others
- By Country (USD Mn)
- Germany
- By Application
- Residential
- Commercial
- Industrial
- Government Buildings
- Others
- By Application
- France
- By Application
- Residential
- Commercial
- Industrial
- Government Buildings
- Others
- By Application
- United Kingdom
- By Application
- Residential
- Commercial
- Industrial
- Government Buildings
- Others
- By Application
- Italy
- By Application
- Residential
- Commercial
- Industrial
- Government Buildings
- Others
- By Application
- Spain
- By Application
- Residential
- Commercial
- Industrial
- Government Buildings
- Others
- By Application
- Sweden
- By Application
- Residential
- Commercial
- Industrial
- Government Buildings
- Others
- By Application
- Russia
- By Application
- Residential
- Commercial
- Industrial
- Government Buildings
- Others
- By Application
- Rest of Europe
- Germany
-
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