The particulate matter sensor market is projected to grow with a moderate CAGR during the forecast period. The health and environmental risks posed by poor air quality has led to a rise in regulations for the reduction of air pollution by governments and regulatory bodies globally.
Research Nester released a report titled “Particulate Matter Sensor Market: Global Demand Analysis & Opportunity Outlook 2029 ”which delivers detailed overview of the global particulate matter sensor market in terms of market segmentation by type, end user and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The particulate matter sensor market is projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 on account of the increasing amount of air pollution regulations along with the application of particulate matter sensors in air quality management systems.
As per IBM, 2.5 Quintillion bytes of data are generated each day. As per OurWorldInData.org, air pollution is responsible for 5 million deaths each year, almost 9% (nearly 1 out of 10) deaths – this varies from 2% to 15% by country
The market is segmented by type into PM2.5, PM10 & others. Among these segments, the PM2.5 segment is anticipated to hold the largest share by the end of 2021 in the particulate matter sensor market as a result of the higher risk involved from inhalation of PM2.5 that block the inner parts of lung, posing a high health risk.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the particulate matter sensor market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. Currently, the market in North America holds the largest share.
This can be attributed 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).
The United States Environmental Protection Agency has developed the National Ambient Air Quality Standards (NAAQS) set attainment thresholds for sulfur dioxide, particulate matter (PM10 and PM2.5), carbon monoxide, ozone, nitrogen oxides NOx, and lead (Pb) in outdoor air throughout the United States.
The Airborne Pollution Prevention and Control Action Plan by China aimed for a 25% reduction in air pollution by 2017 from 2012 levels with funds of $277 billion, the action plan targets PM 2.5 particulates which affect human health
The PM2.5 and PM10 are supposed to be the most dangerous air pollutants to human life and pose a serious threat of disease such as stroke, heart disease, lung cancer, chronic obstructive pulmonary diseases and respiratory infections among the humans, which is expected to boost the market growth in upcoming years. However, the high costs of maintenance and presence of cheap alternatives are some of the factors that are estimated to restrain market growth in the near future.