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Air Quality Control Systems Market: Segmented: by Product Type (Fabric Filters, Flue Gas Desulfurization, SCR, Scrubbers, Electrostatic Precipitators and Others); By Pollutant Type (Gas, Dust, VOC and Others); By Application (Public Transportation System, Automobile, Tunnels, Air terminals, Underground Garages and Others); By End-User (Agriculture, Power & Energy, Mining, Pharmaceuticals, Transportation, Commercial & Residential and Others); By Region (North America, Asia-pacific, Europe, Latin America and Middle-East and Africa)- Analysis of market share, size & trends for 2016-19 and forecasts to 2030
Air Quality Control Systems Market is anticipated to surpass USD 61648 Million by 2030 from USD 124545 Million in 2020 at a CAGR of 6% throughout the forecast period, i.e. 2020-2030
Air Quality Control Systems are equipment and structures used to control and eliminate the production and emission of potentially hazardous materials such as particulate matter and gases produced by the procedural structure, production, and research implementations into the atmosphere and neighboring domain. The air quality control equipment prevents the discharge of hazardous chemicals, water vapors, and dust. Further, it filters and decontaminates the air within the workplace. These harmful and poisonous pollutants are discharged mainly by industries such as power generation, cement production plants, chemical manufacturing, oil, and gas distillation, and many others causing negative health consequences. Growing environmental responsibilities coupled with strict directions issued by the government of various nations regarding the harmful emissions are likely to offer potential future aspects for air quality control systems.
The Air Quality Control Systems Market is estimated to grow on the back of the following reasons. The main drivers of the Air Quality Control Systems Market are increasing awareness regarding the health ailments caused by air pollution, strict guidelines issued by the governments for maintaining the air quality standards, and key players are trying to recreate existing products to capture maximum market share. Further, a surge in demand from medical and pharmaceutical units and escalating demand from the automobile sector to curb the level of pollution are likely to propel the demand for air quality control systems. Moreover, it also offers a competitive advantage to producers over others, stimulating the producers to invest in the technology. However, huge investments and high functional & installation costs are the major factors hampering the growth of the market. Furthermore, a decline in the use of coal-based plants for generating electricity is likely to far more suppress the demand for air quality control systems.
Based on product type, the market is segmented into Fabric filters, Flue Gas Sulfurization, SCR, Scrubbers, Electrostatic Precipitators, and Others. The filter fabrics segment held the maximum market share in 2019 and is expected to grow at the highest CAGR of XX% during the forecast period as fabric filters provide continuous competence and stable pressure, for different particulate sizes and quantity. Further, it remains unaffected by the Sulphur during the combustion.
Based on the pollutant type, the air quality control systems market is categorized into gas, VOC, dust, and others. The gas segment held the major market share in 2019 and is expected to grow at a CAGR of XX% during the forecast period as all the automobiles, industries and households cause pollution mainly in the form of air pollutants thereby boosting the demand for air quality control systems.
The applications of the Air Quality Control Systems Market are categorized as Public transportation systems, Automobiles, Tunnels, Air terminals, Underground Garages, and Others. The automobile segment held the major share in 2019 and is projected to drive the
overall market growth during the forecast period.
Air Quality Control Systems Market is segmented by end-user into Agriculture, Power & Energy, Mining, Pharmaceuticals, Transportation, Commercial & Residential, and Others. The Power & Energy segment is expected to grow at the highest CAGR and drive the market during the forecast period. Amongst several power generation sources, coal is largely used for producing energy, which emits a huge amount of toxins polluting the environment. Thus, the installation of AQCS for reducing such emissions is likely to have expanded demand during the forecast period.
Power generation to increase demand for air quality control systems
The power generation industry mostly uses coal-based power plants for the generation of power and is the largest source emitting many greenhouse gases such as carbon monoxide, Sulphur dioxide, and other hazardous gases. The production of such harmful gases can be curtailed using air quality control systems, such as fabric filters, flue gas sulfurization, scrubbers, electrostatic precipitators, and others. Moreover, rising concern about the growing pollution level coupled with stringent government regulations is likely to drive the overall growth of the Air Quality Control Systems Market.
High investment cost involved
The cost of installation and operational costs are relatively large which many industries may not be able to install. Moreover, increasing restrictions by the government may lead to a reduced level of air pollution which may decrease the demand for Air Quality Control Systems thereby, restricting the growth of the market.
Asia-Pacific to grow at the highest CAGR during the forecast period
The Global Air Quality Control Systems Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia-Pacific, and Middle-East & Africa. Geographically, Asia-Pacific is likely to dominate the market due to the rapid increase in coal-based power generation method. Moreover, rising demand for power and prompt commercialization and industrialization has resulted in growth in the emission of hazardous gases and poisonous pollutants, setting up a huge demand for air quality control systems in the region.
Company overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
The Air Quality Control Systems Market size was estimated at USD 124545 Million in 2020 and is expected to reach USD 61648 Million by 2030
Alstom, Siemens Energy, Babcock & Wilcox Company, Foster Wheeler, Mitsubishi Hitachi Power Systems, Donaldson Company Inc., ELEX AG, Thermax Ltd., Ducon Technologies, and Indigo Technologies.
Gases segment and Fabric filters segment are anticipated to hold the Air Quality Control Systems Market
Power generation to increase demand for air quality control systems
Air Quality Control Systems are equipment and structures used to control and eliminate the production and emission of potentially hazardous materials such as particulate matter and gases produced by the procedural structure, production, and research implementations into the atmosphere and neighboring domain.
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