indoor air quality global market 2016-2020
WiseGuyReports.com adds “INDOOR AIR QUALITY GLOBAL MARKET 2016-2020” to its research database.
This market research report presents a detailed analysis of the key factors that influence market growth. It also segments the global indoor air quality (IAQ) market by application (services and equipment) and by geography (Americas, APAC, and EMEA). The key vendors in this market are 3M, Carrier, Trane, and TSI.
Outlook of the global indoor air quality (IAQ) market
Technavio’s market research analyst has estimated the global indoor air quality (IAQ) market to grow steadily at a CAGR of over 8% during the estimated period. The prospects for growth in this market are spurred by the augmented utilization of equipment that help to monitor IAQ. These equipment are extensively used in manufacturing plants, IT parks, hospitals, retail outlets, restaurants, hospitals, textile mills, and commercial and residential buildings as they improve ventilation, disinfect microbiological contamination, and remove dust or harmful gasses. The ability of these devices to remove tobacco smoke and to get rid of any particles of outside air pollution will result in its increased adoption. Consequently, an increase in the preference for such devices or equipment will aid in the growth of the global IAQ market until the end of the forecast period.
The growing preference for planned constructions will be the key driver for this market. Architects or builders contribute significantly to the growth of the global IAQ market, as it is the design and architecture of the building that significantly streamlines the flow of air within a building. The populace’s rising awareness about IAQ has compelled numerous builders to undertake initiatives to propose novel ideas for IAQ management. Since these devices help to address many health concerns by providing a protective and safe environment for the occupants of the building, it results in cost savings that would have otherwise arisen due to health issues.
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Application-based segmentation of the IAQ market
In this market study, the analysts have estimated the services segment to account for more than 55% of the total market share by 2020. This market segment is anticipated to witness encouraging growth owing to increasing public awareness pertaining to various environmental issues. The ability of the services segment to recommend remedial strategies and to monitor the sources and concentrations of airborne contaminants will result in its strong growth during the forecast period.
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Geographical segmentation of the IAQ market
The Americas will account for more than 40% of the total market share and will be the largest market for IAQ over the next few years. Factors like the increasing awareness and the advent of stringent government regulations, such as OSHA and American Society of Heating, Refrigerating, and Air Conditioning Engineers (ASHRAE), will aid in the growth of this market in the Americas.
Competitive landscape and key vendors
The global IAQ market is extremely fragmented as it contains numerous vendors. In several developing economies, the regional vendors dominate this market as they have the capability to provide cost-effective products and services with limited features and functionalities. Though the local vendors dominate the market in some regions, they find it extremely difficult to compete with the larger vendors in terms of product quality and features.
Key vendors in the market are -
Other prominent vendors in the market are Aprilaire, Filtration, Halton, Lennox International, and United Air Specialists.
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