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Oct 6, 2020 1:00 PM ET

At 6.1% of CAGR, Air Quality Sensor Market is Growing at $1,266.07 Million of Industry Revenue by 2027 – Siemens, Renesas Electronics Corporation, energomonitor s.r.o, Sensirion AG Switzerland


iCrowd Newswire - Oct 6, 2020

According to our latest market study on “Air Quality Sensor Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Air Quality Sensor Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by: Type, Location, End-User, and Geography” the market was valued at US$ 878.62 million in 2019 and is projected to reach US$ 1,266.07 million by 2027; it is expected to grow at a CAGR of 6.1% during the forecast period. The report highlights key factors driving the market growth, and prominent players and their developments in the market.

The manufacturing industries in Asian countries are booming at an exponential rate which will boost the penetration of air quality sensor. Further, rising investment in construction industry from the government bodies of India, China and other countries will help in accelerating the growth of air quality sensor market.

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COVID–19 Impact on Air Quality Sensor Market

The COVID-19 virus outbreak has been affecting every business globally since December 2019. The continuous growth in the number of virus-infected patients has governments to put a bar on transportation of humans and goods. The manufacturing and construction industries, coal-fired plants, shutdown of schools, academic institutes, shopping complexes, office premises has experienced temporary shutdown in their activities which has resulted into lower air pollution. The factory shutdowns and border lockdowns have impacted manufacturing, supply, and sales of various industries and thus stopping the work. With less movement of people and goods, the air pollution is getting reduced across the world. To continue lowering the harmful impact of air pollutants on environment, the demand for air quality sensor will grow, after the business processes gets resumed. In addition, use of portable air quality sensor will also increase among the individuals owing to COVID-19 with an aim to protect themselves.

The need to have clean air coupled with rising concern for the environment across the globe has encouraged the government bodies to formulate strict guidelines for the betterment of the environment. For instance, the US National Ambient Air Quality Standards are the limits on the atmospheric concentration of six pollutants, which leads to acid rain, smog, and other health hazards. The standards have been established by the US Environmental Protection Agency (EPA) under the authority of the Clean Air Act. Such standards will help in increasing the use of air quality sensors to measure the level of harmful gases or any toxic pollutants.

Strategic Insights

The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.

In 2020, Sensirion presented a new SGP40 VOC (volatile organic compound) sensor for indoor air quality applications including automated air quality control systems and air quality monitoring.

Top Mentioned Companies in Air Quality Sensor Market are-

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