Europe Indoor Air Quality (IAQ) Monitoring Solution Market Size, Share & COVID-19 Impact Analysis, By Type (Fixed and Portable Indoor Monitor), By Application (Residential, Commercial, Industrial, Government Buildings, Others) and Country Forecast, 2020-2027

The Europe Indoor Air Quality (IAQ) monitoring solution market size was USD 697.1 million in 2019. The global impact of COVID-19 has been unprecedented and staggering, with IAQ monitoring solutions witnessing a positive demand shock across Europe amid the pandemic. Based on our analysis, the market will exhibit a stellar growth of 7.1% in 2020. The market is projected to grow from USD 746.5 million in 2020 to USD 1,225.8 million in 2027 at a CAGR of 7.3% in the 2020-2027 period.

Indoor Air Quality (IAQ) monitoring solution monitors the air quality of volatile organic chemicals, carbon-di-oxide, and other pollutants. 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 safeguard the environment and people from unsafe air pollution.

The technological advancements including, IoT monitoring and industry 4.0, primarily drive the European IAQ monitoring system market. These advancements are highly dependent on the installation of these systems across applications. Additionally, the adoption of green building factors, such as ventilation management, indoor dust and gas level management, air quality monitoring, and humidity control are expected to bolster the market growth. Moreover, the ever-growing smart homes market is also projected to boost the Europe solution market.

COVID-19 Impact: Manufacturing Technologically Advanced Indoor Air Quality Monitoring Solutions to Enhance Opportunity

In Europe, the COVID-19 pandemic has moderately impacted the market of Indoor Air Quality (IAQ) Monitoring Solution. The outbreak has provided an opportunity for the manufacturers to develop IAQ monitoring solutions to cope up with the co-existing coronavirus. The consumers across Germany, Spain, and Italy have reduced outings and are spending more time indoors. Principally, it is important to ensure clean air quality while maintaining the inlet of fresh air into the room. Also, ensuring the indoor air quality in public places has become the focus of attention as most of the public places have air conditioners installed. The governmental bodies are also suggesting supportive government regulations to ensure fresh indoor air quality. For instance, the European Centre for Disease Prevention and Control (ECDC) gave guidance to authorities in EU/EEA countries and the UK to secure indoor air quality amid the pandemic.

Therefore, the growth trajectory is projected to be concrete in the forecast period, with the COVID-19 pandemic acting as an opportunity for 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 UK, Germany, Sweden, Italy, France, Russia, and others is anticipated to bolster the demand for IAQ monitoring systems in the forecast period. Additionally, the modern technological advancements in wearable devices and mobile-based software to monitor fresh indoor air quality are expected to complement the market growth of Indoor Air Quality (IAQ) Monitoring Solution further. In recent years, the European countries have experienced a significant rise in the demand for such monitoring products amongst residential and commercial applications including houses, malls, multi-story buildings, hotels, etc. This is mainly because of the growing public awareness of indoor air pollution's health implications, coupled with increased house-hold air pollution.

DRIVING FACTORS

Technical Advancements across IAQ Monitoring Systems to Aid Market Expansion

In the past few years, indoor air pollution in homes, schools, offices, and factories has risen to double that of outdoor air. As per the secondary research, nearly 90% of the people across Europe spend their time indoors. This is driving the demand for indoor air quality monitoring solutions from related downstream industries. In addition to it, the technological developments including, IoT-based monitoring systems and cyber-physical systems for real-time monitoring, along with advanced sensor networks, have promoted the installation of IAQ systems across applications.

Moreover, industry 4.0 compliments IAQ monitoring systems' growth due to the rise in employee health concerns across manufacturing industries and power plants. Furthermore, the growing interest of consumers in electronic products has surged the demand for smart homes with clean indoor air levels, which are also considered as driving forces for the growth of the indoor air monitoring solution across European countries.

RESTRAINING FACTORS

High Product Cost to Cause Hindrance to Market

The demand for indoor air quality monitoring solutions is growing with the growing attentiveness for 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 the commercial, residential, and industrial applications in terms of low environment effectivity. Savings on replacement result in extra particulate contaminants carried through the buildings that result 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 Monitors Segment

Based on the type, the market is categorized into fixed indoor monitors and portable indoor monitors. The fixed indoor monitors segment is expected to hold the highest market share in the forecast period. This 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 monitors segment is projected to showcase the highest CAGR owing to the latest advancement of monitoring the indoor air quality via mobile sensing systems, personalized monitoring, etc.

By Application Analysis

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Rising Utilization to Favor Growth of the Residential Segment

Based on application, the market is segmented into government buildings, residential, commercial, industrial, and others. Wherein the residential sector holds the highest share and is also expected to capture the highest CAGR owing to the 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 the industrial applications, manufacturing, power plant, and automotive industries are anticipated to drive the market growth.

REGIONAL INSIGHTS

The Europe 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, coupled with air filtration technologies, is also boosting the market growth. Countries including, Germany, France, Italy, and the UK are the major countries contributing to the revenue of the Europe IAQ monitoring solution market.

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 market growth. Additionally, the green building initiatives set up by the local government authorities across urban areas is leading towards an increased preference for smart care products. This, in turn, is limiting the injurious health effects of polluted air.

With limited supply chain resources and lack of a domestic market in the current period, the UK and France are expected to emerge as some of the pioneer nations in the overall heating, ventilation, and cooling (HVAC) market. The increasing industrial sector across Italy is boosting the market growth. Additionally, the utilization of IoT-enabled IAQ sensors across residential and commercial applications including, multi-story buildings, malls, hotels, etc., is complimenting the market growth.

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 is eventually augmenting the Indoor Air Quality (IAQ) Monitoring Solution market growth. For instance, in November 2020, ENVIRA IOT has 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.

LIST OF KEY COMPANIES PROFILED:

• Testo SE & Co. KGaA (Germany)


• Airthings (Norway)


• 3M (U.S.)


• Vaisala (Finland)


• Honeywell International (U.S.)


• GRAYWOLF SENSING SOLUTIONS, LLC. (Ireland)


• E Instruments International, LLC. (U.S.)


• Renesas Electronics Europe GmbH (Germany)


• InsightAir (Bulgaria)


• IOT Factory (Belgium)


• ENVIRA IOT (Spain)


• Aeroqual (New Zealand)


• Fluke Corporation (U.S.)


• ROTRONIC AG (Switzerland)


• TSI (U.S.)


• Awair, Inc. (U.S.)


• Dwyer Instruments, Inc. (U.S.)


• Extech (U.S.)


• Critical Environment Technologies Canada Inc. (Canada)


• Emerson Electric Co. (U.S.)


• Thermo Fisher Scientific Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

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


• In 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.

REPORT COVERAGE

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This report provides an elaborative analysis of Europe's indoor air quality (IAQ) monitoring solution market dynamics and competitive landscape. Various key insights presented in the report are market share analysis, recent developments in the IAQ monitoring solution market, including mergers & acquisitions, regulatory scenarios across key countries, macro and microeconomic factors, SWOT analysis, competitive landscape, and company profiles.

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