In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Portable air quality monitors are handheld devices which are used for surveying air pollutants. It can be used in both outdoor and indoor environments. Portable air quality monitor is very useful for those who have asthma and allergy related problems. It can monitor the quality and safety of the air and also helps in breathing cleaner and healthier. These portable air quality monitors are designed especially for those places where air concentrations need to be controlled. Portable air quality monitor can track air temperature, relative humidity and carbon dioxide levels in both outdoor and indoor environment.
Global portable air quality monitor market is anticipated to witness a robust growth over the forecast period 2017-2024. Rising need to maintain the air quality is anticipated to foster the growth of global portable air quality monitor market during the forecast period.
Geographically, global portable air quality monitor market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is expected to be the largest regional market for portable air quality monitors by 2024. Technological advancements, rapid adoption of air quality monitoring devices and high public private funding for air quality control are some of the major factors which are expected to contribute for significant growth in North America region.CLICK TO DOWNLOAD FREE SAMPLE REPORT
Asia Pacific air quality monitor market is expected to be the fastest growing market in the next few years. Rising level of air pollution owing to the factors such as industrialization, urbanization and new developing industries is expected to drive the growth of portable air quality monitor market in this region. Supportive government rules & regulations in different countries of Asia Pacific region are also anticipated to foster the growth of portable air quality monitor in Asia Pacific region. Beside this, Europe region is also anticipated to witness a satisfactory growth over the forecast period.
Our-in depth analysis of the global portable air quality monitor market includes the following segments:
Global portable air quality monitor market is further classified on the basis of region as follows:
Rising air pollution and supportive government rules & regulations to maintain the air quality are some of the major reasons escalating the demand for portable air quality monitors all across the globe. Government across various countries promoting air quality monitor system and pushing different industries to install such systems in order to decrease the air pollution. Such factors are expected to escalate the demand for portable air quality monitor in near future. Moreover, global portable air quality monitor market is driven by rising respiratory diseases due to air pollutants and increasing health consciousness among people across the globe.
Rapid industrialization and urbanization in developing countries such as India and China and rising need for air quality control are some of the major factors which are expected to create adequate opportunities for manufacturers of portable air quality monitor market. Apart from this, growing concern about indoor air quality is also anticipated to foster the growth of portable air quality monitor market during the forecast period. Along with this, technological advancements and rising adoption of smart homes are fostering the demand for portable air quality monitors in various countries.
Besides this, significant adoption of portable air quality monitor in petrochemical and pharmaceutical industries is also one of the major factors anticipated to expand the growth of portable air quality monitor market over the next few years.
However, high cost of portable air quality monitors is anticipated to dampen the growth of global portable air quality monitor market. Moreover, lack of awareness among consumers towards portable air quality monitor is also expected to hamper the growth of global portable air quality monitor market in near future.