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Global Air Quality Control System Market Growing at a CAGR of 4.6% from 2019-2027

Sheryl Dias
Global Air Quality Control System Market Growing at a CAGR of 4.6% from 2019-2027

The global air quality control system market was valued at USD 4,923.3 Million in 2019 and is projected to reach USD 6,990.4 Million by 2027, expanding at a CAGR of 4.6% during the forecast period. Air quality control system (AQCS) are used for reducing the contaminants from indoor and ambient air. The pollutants are emitted by manufacturing industries such as medical, mining, automotive, power generation plants, and pharmaceuticals. Thus, air quality control systems offer solutions for reducing gases, air, and contaminants to provide cleaner air discharge. The air quality control system market is primarily driven by the growth in awareness about air pollution and its effect on health and well-being. However, high investment and operation costs associated with these systems is expected to restrain the market.

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Segmental Outlook

On the basis of types, the air quality control system market is segmented into electrostatic precipitators, flue gas desulfurization, scrubbers, selective catalytic reduction, and fabric filters. The electrostatic precipitators segment is anticipated to expand at a CAGR of 4.7% during the forecast period owing the growth in population, especially in the urban areas and the rise in health awareness among people. The electrostatics precipitator segment is expected to grow due to rise in air emissions. Additionally, rise in the adoption of this system by the cement industry due to construction and infrastructure activities worldwide, and electrostatic precipitator are helping in the reduction of air pollution.

Based on applications, the air quality control system market is divided into the power generation, cement industry, iron & steel industry, chemical industry, and others. The power generation segment is projected to hold a major share of the market during the forecast period owing to rising industrialization, growing population, and increasing number of coal-fired power plants, as they are a major source of sulfur pollutants. In the power generation sector, coal accounts for 83% of fine particulate emissions, 86% of NOx emission, 94% of mercury emissions, and 98% of SO2 emission. In 2018, about 42% of power generated globally was by using coal. Thus, the demand for air quality control system devices in the market has increased to help minimize air pollution.

Regional Outlook

In terms of regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a promising region for the market. The region constituted for 58.7% share of the market in 2019. The market in the region is projected to expand at a CAGR of 4.8% during the forecast period. Rapid growth of the industrial sector such as cement production, power generation, and metal & chemical processing is driving the air quality control systems market. Countries such as India and China are among the most polluted countries in the world. Governments of these countries are trying to implement emission laws and regulations across various industries, thus fueling the demand for air quality control systems in Asia Pacific. The market in North America is projected to expand at a CAGR of 4.5% due growing prevalence of measles in the region.

Competitive Landscape

Key players in the market include Babcock & Wilcox Enterprises, Inc., Ducon Technologies Inc., Fujian Longking Co. Ltd, GENERAL ELECTRIC, HAMON, Mitsubishi Heavy Industries, Ltd., Siemens AG, and Thermax Limited. These companies are considered manufacturers of Air Quality Control System based on their revenue, research development (R&D) activities, regional presence, and supply chain management system.

Mitsubishi Heavy Industries, Ltd. is a global company specializing in engineering, electrical equipment, and electronics. The company make its offerings through three core business segments, namely Power Systems, Industry & Infrastructure, and Aircraft, Defense & Space.

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Sheryl Dias
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