Global Indoor Air Quality Systems (IAQ) Market 2023

Description
Indoor air quality refers to the air circulating within and around occupied structures. The various parameters utilized to gauge IAQ include carbon dioxide, relative humidity, volatile organic compounds, and particulate matter such as PM2.5 and PM10. Regulatory bodies prescribe limits for these factors that are often challenging to achieve in practice, as inadequate ventilation permits external pollutants to infiltrate while conditions allow internal buildup. Without adequate countermeasures, pollutants proliferating in indoor environments must unfortunately be addressed through alternative means.

Recent market reports forecast significant growth in the global IAQ systems industry over the next decade. Current projections estimate the market value will increase by approximately $8.0 million annually to reach an average compound growth rate of 6.9% by 2029. Heightened emphasis on improving air sanitization standards through increasingly stringent regulatory frameworks is propelling expansion within both the air quality monitoring and purification sectors. As awareness of the health impacts linked to poor indoor environments rises, technologies that enhance safety and wellness are experiencing exponential demand.

Achieving acceptable IAQ proves crucial to occupational and public health yet remains elusive without targeted solutions. Symptoms tied to subpar air quality such as headaches, fatigue, eye/throat irritation, and impaired concentration underscore the necessity of effective remediation. Manufacturers are thus racing to develop innovative monitoring devices and air scrubbing systems qualified to mitigate dangerous contaminants at their source. As regulatory compliance becomes ever more rigorous worldwide and scientific understanding of risks evolves, industries serving IAQ needs will undoubtedly continue to innovate and grow.

Market Segmentation
This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the product, end user, and region.
Segmentation by Product: air cleaners/air purifiers, air filters, carbon monoxide (CO) detectors, dehumidifiers, humidifiers, software/analytics, ultraviolet (UV) lamps, ventilators
Segmentation by End user: commercial, institutional, residential, others
Segmentation by Region: Asia-Pacific, Europe, North America, Rest of the World (RoW)

The end-user industry segmentation of the IAQ systems market principally encompasses four categories - residential, commercial, institutional, and other sectors. Current analysis indicates the residential portion will likely maintain commanding market share throughout the forecast window, projected to account for over 50% of total value. Moreover, the residential segment is anticipated to expand nearly 1.5 times from 2022 levels due to accelerated installation of IAQ products in homes.

Poor indoor air quality within residential settings frequently stems from internal pollution sources releasing gases or particles into enclosed living spaces. Inadequate ventilation proves a major culprit, as insufficient airflow fails to sufficiently dilute emissions or remove indoor contaminants. This allows pollutant concentrations to rise unchecked. Similarly, exceedingly high temperature and humidity exacerbates the accumulation of certain indoor airborne hazards.

Within urban residences particularly, the convergence of adverse external conditions and insufficient internal mitigation lays the groundwork for problematic air quality. Rising vehicle and industrial emissions plaguing ever-expanding metropolitan centers carry over into adjoining domestic interior environments lacking proper air purification or ventilation safeguards. Meanwhile, increasingly airtight “green” construction practices designed to maximize energy efficiency can unintentionally hinder pollution removal if not accompanied by specialized mechanical ventilation.

The public health consequences of deteriorating urban air quality both indoors and outside have amplified demand for effective IAQ remediation solutions. Recent investigations link substandard air to an array of chronic and acute illnesses, making air purification a higher priority for households near major pollution hotspots. Furthermore, events like the unforeseen COVID-19 pandemic that revealed indoor aerosol transmission risks raised consumer awareness of airborne disease prevention through proper ventilation and filtration.

Major Companies and Competitive Landscape
The market research report covers the analysis of key stake holders of the global IAQ systems market. Some of the leading players profiled in the report include AirLabs Ltd., Airthings ASA, Airthinx, Inc., Aura Smart Air Ltd., Beijing 352 Environmental Protection Technology Co., Ltd., Blueair AB, Camfil AB, Carrier Global Corporation, Condair Group AG, Coway Co., Ltd., Daikin Industries, Ltd., Dyson Limited, Eureka Forbes Ltd., Fellowes, Inc., Haier Group Corporation, Honeywell International Inc., IQAir AG, Kinetic Solutions, Inc. (Rabbit Air), Koninklijke Philips N.V., Leapcraft ApS, Lennox International Inc., LG Corporation, Mann + Hummel Gruppe, Midea Group Co., Ltd, Molekule, Inc., Munters Group AB, Oransi LLC, Panasonic Holdings Corporation, Samsung Electronics Co., Ltd., Sharp Corporation, Trane Technologies Inc., Whirlpool Corporation, Winix Inc., Xiaomi Corporation, Zhongshan Yadu Electrical Appliances Co., Ltd., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

Scope of the Report
To analyze and forecast the market size of the global IAQ systems market.
To classify and forecast the global IAQ systems market based on product, end user, region.
To identify drivers and challenges for the global IAQ systems market.
To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global IAQ systems market.
To identify and analyze the profile of leading players operating in the global IAQ systems market.

Why Choose This Report
Gain a reliable outlook of the global IAQ systems market forecasts from 2023 to 2029 across scenarios.
Identify growth segments for investment.
Stay ahead of competitors through company profiles and market data.
The market estimate for ease of analysis across scenarios in Excel format.
Strategy consulting and research support for three months.
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