Growth Drivers
Challenges
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the decreasing air quality of the region along with the increasing awareness and regulations around the risks and effects of poor air quality and improving it. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the presence of stringent and well established laws and regulations by the U.S. EPA (Environmental Protection Agency) and Canada’s CEAA (Canadian Environmental Assessment Agency). Along with this, the North America has a high number of smart city initiatives and developed industrial clusters that deploy air quality sensors which is expected to drive the market for particulate matter sensors. Alternatively, the market in Europe is also anticipated to occupy a significant share in the particulate matter sensor market on account of strict policies similar to the North America region regarding working conditions and air quality monitoring, along with the financial resources to aid the deployment of monitoring systems.
The global particulate matter sensor market is further classified on the basis of region as follows:
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
6.2% |
Base Year Market Size (2024) |
USD 2.72 billion |
Forecast Year Market Size (2037) |
USD 5.95 billion |
Regional Scope |
|
Author Credits: Abhishek Verma
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