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Global Air Quality Control Systems Market is Expected to Grow at a CAGR of 5% in the Forecast Period of 2021-2026.

According to a new report by EMR titled, ‘Global Air Quality Control Systems Market Report and Forecast 2021-2026’, the global air control system market attained a value of about USD 99,435 million in 2020. The industry is further expected to grow at a CAGR of 5% in the forecast period of 2021-2026 to reach a value of USD 133,252.4 million by 2026.

Regionally, the Asia Pacific and North America regions hold a significant share in the global air quality control systems market. The major driving factors for the market growth in the regions have been the increased need for food, oil, gas, electricity, and power. With diverse opportunities across the Asia Pacific region, the air quality control systems are at various stages of development. In emerging markets like China and India, the market is tied to rapid industrialisation and urbanisation. The Indian government and other regulatory bodies in these regions are implementing strict regulations to effectively reduce the emission from the rising industrial sector, which is propelling the growth of the air quality control systems market. In the coming years, Latin America and the Middle East and Africa will also witness a healthy growth due to the rising need to curb air pollution.

The market is also influenced by the product developments, contracts undertaken, and M&A activities among the key players in the industry like Thermax Ltd and General Electric (NYSE: GE). In 2018, GE Power was awarded contracts worth USD 247 million to install and supply Wet Flue Gas Desulphurization (Wet FGD) technology at four NTPC power plants to help the thermal power plants meet the new emission standards in India. Similarly, in December 2020, engineering solutions provider Thermax Ltd (NSE: THERMAX) bagged a USD 58 million order from a public-private joint venture power company for setting up two flue gas desulphurisation (FGD) systems at their thermal power plant in Jharkhand, India.

Market Analysis by Product Type, Pollutant Type, Application, and Region:

  • Based on product type, the industry can be divided into indoor and ambient.
  • The market on the basis of pollutant type can be divided into gas, volatile organic compounds, dust, and others. 
  • On the basis of application, the industry can be divided into tunnels, air terminals, underground garages, public transportation stations, air pollution control, and automobiles.
  • Regionally, the air quality control systems market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global air quality control systems market is driven by the increased awareness among the population about the health effects of air pollution.
  • The rising demand for air quality control systems from the robustly growing medical and pharmaceutical industries are expected to augment the market growth in the coming years.
  • Major key players are trying to improve their portfolios to remove fine dust, bacteria, and other harmful substances not only from indoor commercial and residential areas but also to improve the overall outdoor air quality. Such factors are further invigorating the market growth.
  • Advantageous government initiatives seeking to curb harmful emissions are enhancing the market growth further.

Key Offerings of the Report:

  • The EMR report gives an overview of the global air quality control systems market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the product types, pollutant types, applications, and major regions in the air quality control system industry.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global air quality control systems market are Mitsubishi Hitachi Power Systems Ltd (MHPS), Thermax Ltd, Amec Foster Wheeler, Babcock & Wilcox Enterprises, Inc, Ducon Technologies Inc, and General Electric among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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