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Europe Indoor Air Quality (IAQ) Monitoring Solution Market Size, Share & COVID-19 Impact Analysis, By Type (Fixed Indoor Monitor and Portable Indoor Monitor), By Application (Residential, Commercial, Industrial, Government Buildings, and Others), and Country Forecasts, 2022-2029

Region : Global | Format: PDF | Report ID: FBI104674

 

KEY MARKET INSIGHTS

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The Europe Indoor Air Quality (IAQ) monitoring solution market size was valued at USD 779.0 million in 2021. The market is projected to grow from USD 830.6 million in 2022 to USD 1,321.4 million by 2029, exhibiting a CAGR of 6.9% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with Indoor Air Quality (IAQ) monitoring solution experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the Europe indoor air quality monitoring solution market exhibited a higher growth of 6.2% in 2020 as compared to 2019.


IAQ refers to the air quality within and around buildings and structures, especially concerning the health and comfort of building occupants. The IAQ monitoring solutions include sensors, monitoring platforms, systems, and others. These are essential for a healthy indoor climate. These systems aim to guard health by upholding clean indoor air quality and safeguarding the environment and people from unsafe air pollution.


The growth of this market is attributed to the steps taken by countries to enhance the quality of indoor air. Additionally, the UN framework for reducing greenhouse gas emissions and air filtration technology is encouraging market growth. The primary nations contributing to the revenue for the Europe indoor air quality monitoring market include Germany, France, Italy, and the U.K.


COVID-19 IMPACT


Manufacturing Technologically Advanced Indoor Air Quality Monitoring Solutions to Enhance Opportunity


In Europe, the COVID-19 pandemic has moderately impacted the Indoor Air Quality (IAQ) monitoring solutions market. The outbreak has allowed the manufacturers to develop advanced IAQ monitoring solutions to cope with the co-existing coronavirus. The COVID-19 pandemic has prompted widespread demand for improved indoor air quality. The best way to attain healthy IAQ depends on the environment (public buildings, private dwellings, congregate living facilities, and others), and significant hurdles exist. Pandemic resistance, climatic resilience, energy efficiency, occupant happiness, and excellent Indoor Environmental Quality (IEQ) are all goals that must be met by IAQ (thermal, acoustic, and visual comfort).


The degree to which the COVID-19 pandemic has affected companies’ manufacturing operations will be highly dependent on future developments across the Indoor Air Quality (IAQ) monitoring solution market. Market participants are, however, realistic about increasing demand; thus, the future trajectory is anticipated to be solid with the moderate impact of the COVID-19 pandemic in 2020.


Therefore, the growth trajectory is projected to be concrete in the forecast period, with the COVID-19 pandemic acting as an opportunity in the coming years.


LATEST TRENDS


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Surge in Smart Home Constructions to Ensure Future Growth


The rising adoption of smart home constructions across countries, including the U.K., Germany, Sweden, Italy, France, Russia, and others is anticipated to bolster the demand for monitoring systems over the forecast period. Additionally, modern technological advancements in wearable devices and mobile-based software to monitor fresh indoor air quality are expected to complement the smart Indoor Air Quality (IAQ) monitoring solution.


In recent years, European countries have experienced a significant rise in demand for IAQ monitoring products in residential and commercial applications, including houses, malls, multi-story buildings, hotels, and others.


This factor is mainly attributed to the growing public awareness of indoor air pollution's health implications coupled with increased household air pollution, further contributing toward the Europe Indoor Air Quality (IAQ) monitoring solution market growth.


DRIVING FACTORS


Increased Indoor Air Pollution to Aid Market Expansion


According to a research report published by the U.S. Environmental Protection Agency, indoor air is about 2 to 5 times more polluted than outdoor air. However, in some cases, due to poor ventilation and cramped spaces, indoor air is about 100 times more polluted than the outdoor environment. In the past few years, more and more scientific evidence has shown that even in the largest and most industrialized cities, the air inside houses and other buildings is more polluted than outdoor air. Indoor air pollution in homes, schools, offices, and factories maybe twice or even five times that of outdoor air.


Other studies indicate that people spend approximately 90% of their time indoors. In addition, the most vulnerable parts of the population, especially the elderly and children under five, spend more time indoors than their peers with stronger endurance. Therefore, for many people, health risks may result from exposure to indoor air pollution rather than outdoor exposure. The rapid increase in the number of indoor pollutants has surged the demand for Indoor Air Quality (IAQ) monitoring solutions from related downstream industries such as residential and commercial buildings.


RESTRAINING FACTORS


High Product Costs to Hinder Market Growth


The demand for IAQ monitoring solutions is growing with the rising attentiveness toward fresh indoor air quality. However, the high production cost of smart IAQ monitoring systems is hampering the market growth.


Additionally, several end-users across Europe procure low-priced IAQ monitoring equipment as a replacement, which hampers the working environment in commercial, residential, and industrial applications in terms of low environmental effectiveness. Savings on replacement result in extra particulate contaminants carried through the buildings, resulting in harmful indoor air. Moreover, the lack of awareness about the ill effects of impure air on health amongst the occupants is also a major factor responsible for hampering the market growth.


SEGMENTATION


By Type Analysis


Accelerated Installation across Commercial and Industrial Applications to Drive Fixed Indoor Monitor Segment


Based on type, the market is categorized into fixed indoor monitor and portable indoor monitor.


The fixed indoor monitor segment is expected to hold the highest market share in the forecast period. This factor is due to the growing installation of Air Quality Monitoring (AQM) stations across commercial and industrial facilities. AQM requires a limited volume sample to check air quality.


The portable indoor monitor segment is projected to showcase the highest CAGR owing to latest advancements in monitoring Indoor Air Quality (IAQ) via mobile sensing systems, personalized monitoring, and others.


By Application Analysis


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Rising Utilization of Air Quality Monitors to Favor Growth of the Residential Segment


Based on application, the market is segmented into government buildings, residential, commercial, industrial, and others.


The residential segment holds the highest share and is also expected to capture the highest CAGR owing to increasing need for fresh Indoor Air Quality (IAQ). In addition, the Congressional Research Service (CRS) stated that in 2018, Europe's overall spending on new residential construction accounted for nearly USD 373.5 billion.


The air quality monitoring equipment minimizes the risks of molecular contamination across industrial applications. Among industrial applications, the manufacturing, power plant, and automotive industries are anticipated to drive market growth.


REGIONAL INSIGHTS


The Europe Indoor Air Quality (IAQ) monitoring solution market is anticipated to showcase strong growth in the forecast period owing to the initiatives carried out by countries to improve indoor air quality. Additionally, the UN’s framework to reduce greenhouse gas emissions and air filtration technologies is also boosting the market growth. Germany, France, Italy, and the U.K. are the major countries contributing to the revenue and increasing the Indoor Air Quality (IAQ) monitoring solution market share in Europe.


Germany to Register Highest CAGR; Government Initiatives to Limit Adverse Health Effects


Germany is one of the leading countries manufacturing IAQ monitoring solutions and sensors. Manufacturers, including Testo SE & Co. KGaA, Renesas Electronics Europe GmbH, and others have industrial facilities in Germany, which complement the Indoor Air Quality (IAQ) monitoring solution market growth.


Additionally, the green building initiatives set up by the local government authorities across urban areas led to an increased preference for smart care products. This factor is limiting the injurious health effects of polluted air.


With limited supply chain resources and lack of domestic market in the current period, the U.K. and France are expected to emerge as some of the pioneer nations in the overall Heating, Ventilation, and Air Conditioning (HVAC) market. The increasing industrial sector across Italy is boosting the market growth. Additionally, the adoption of IoT-enabled IAQ sensors across residential and commercial applications, including multi-story buildings, malls, hotels, and others is complementing the market growth.


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Moreover, with the presence of leading manufacturers across Finland, Norway, Ireland, Switzerland, and Spain, the Europe IAQ monitoring solution market is projected to experience robust growth in the forecast period.


KEY INDUSTRY PLAYERS


Key Players to Focus on Product Development to Cope up with Demand for Fresh Indoor Air


Key players, including Testo SE & Co. KGaA, ENVIRA IOT, 3M, Airthings, and Honeywell International are focused on advancing the monitoring equipment to assess the indoor air quality and measure, check, and adjust the air conditioning and ventilation systems. This factor is eventually augmenting the market growth of IAQ monitoring solutions. For instance, in November 2020, ENVIRA IOT developed an indoor air quality monitoring system for hotels, restaurants, and cafés (HORECA sector) to prevent indoor polluted air and minimize the spread of hazardous viruses. Moreover, the European government is also supporting these major players due to their strong position and brand name. In addition, it has also been observed that government dynamics are further investing in the ventilation system to enhance the air quality in public places.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • September 2020 - ENVIRA IOT launched an IAQ device that shows a virus transmission risk index based on environmental conditions. It monitors air quality and provides healthy indoor air quality.

  • January 2019 – InsightAir introduced an air quality sensor that gives air quality alerts via SMS or email when the set limit of air quality exceeds. This newly introduced sensor guarantees lower sickness levels and energy costs.

  • February 2021 – Envira IoT partnered with Power Workplace to expand its indoor air quality monitoring solution across Asia Pacific.

  • August 2021 – Envira IoT expanded its presence in France through a strategic partnership with Sinay to offer wireless monitoring air quality networks.

  • July 2022 – Airthings collaborated with Neogreen specialists in collecting & integrating the equipment to provide Airthings air quality monitors to nine schools across France.


REPORT COVERAGE


An Infographic Representation of Europe Indoor Air Quality (IAQ) Monitoring Solution Market

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This market report provides an elaborative analysis of the Europe Indoor Air Quality (IAQ) monitoring solution market dynamics and competitive landscape. The report presents various key insights such as market share analysis and recent developments, including mergers & acquisitions, regulatory scenarios across key countries, macro and microeconomic factors, SWOT analysis, competitive landscape, and company profiles.


Report Scope & Segmentation


















































  ATTRIBUTE



  DETAILS



Study Period



2018 – 2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022 – 2029



Historical Period



2018 – 2020



Unit



Value (USD million)



Segmentation



By Type, Application, and Country



By Type




  • Fixed Indoor Monitor

  • Portable Indoor Monitor



By Application




  • Residential

  • Commercial

  • Industrial

  • Government Buildings

  • Others



By Country




  • Germany (By Application)

  • France (By Application)

  • U.K. (By Application)

  • Italy (By Application)

  • Spain (By Application)

  • Sweden (By Application)

  • Russia (By Application)

  • Rest of Europe



Frequently Asked Questions

Fortune Business Insights estimates the market stood at USD 779.0 million in 2021.

Fortune Business Insights estimates that the market may reach USD 1,321.4 million in 2029.

Strong growth of 6.9% CAGR will be observed in the market in the forecast period.

The fixed indoor monitor segment is expected to lead the market during the forecast period.

Technological advancement across IAQ monitoring systems is expected to drive the market.

Testo SE & Co. KGaA, 3M, Honeywell International, and ENVIRA IOT are the top companies in the market.

The surging smart home construction is a key trend in the European market.

The residential sector is expected to hold the highest share in the market.

The portable indoor monitor segment is expected to grow significantly at the highest CAGR.

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