The Booming Business of Breathing Healthy Air

According to recent studies, we spend 90% of our time indoors, in buildings. The Covid-19 pandemic has heightened the public’s awareness and shone a light on respiratory health. Consumers are increasingly more aware of risks associated with poor indoor air quality and are actively seeking effective solutions. This, combined with the current energy crisis and the need to configure energy-efficient buildings in an ever-growing urbanised society is the reason for IAQ to become focus of policy makers. 2024 recast of EPBD requires Member States to set requirements for adequate indoor air quality standards in buildings (Article 13.4) and for non-residential net zero emission buildings to be equipped with measuring and control devices for the indoor air quality monitoring and regulation (Article 13.5).

The global market demand for IAQ monitors was estimated at just over £4 billion in 2023. It is expected to exceed £7 billion in 2030, with CAGR 8.6%. The IAQ market is on the rise and also witnessing exciting advancements in the products’ development, with the technology becoming smarter in encompassing IAQ.

Key Trends

The IAQ market is evolving forming emerging trends that have an impact:

Smart Technology Integration: air purifiers and monitors connected to ventilation systems are becoming increasingly sophisticated. They can be connected to smart home systems, provide real-time data on pollutants, allowing remote monitoring and control, and tailored settings to accommodate individual requirements.
Focus on Sustainability: increasingly environmentally and cost-conscious consumers drive demand for energy-efficient ventilation systems with low carbon footprint.
Focus on Multi-Pollutants: single-function air purifiers are being overran by advanced models that target a wider range of pollutants, including volatile organic compounds (VOCs), particulate matter (PM) and even airborne pathogens.
Wider Audience: IAQ monitors were once relegated to a niche market, however with advancements in technology, they are becoming more affordable and user-friendly. As a result, IAQ monitoring is becoming a more accessible tool for a growing number of end-users, empowering them to address air quality concerns within their environments.

Factors Driving the market

Key factors propelling the IAQ market forward are expected to strengthen in the coming years:

Heightened Health Awareness: since the pandemic a spotlight has been shone on respiratory health and consumers are more aware of risks associated with poor IAQ, so they are more engaged in tackling such threats.
Government Regulations: regulatory bodies are globally implementing stricter standards for IAQ in buildings, which in turn is fuelling demand for IAQ solutions in commercial and residential spaces.
Urbanisation and Energy Efficiency Measures: tighter building envelopes benefit energy efficiency but can sometimes trap pollutants indoors, which amps the emphasis on IAQ solutions in order to maintain healthy air quality indoors.

Key components of IAQ market Filtration (ISO ePM1, ePM2.5, ePM10, HEPA, ULPA)

UV-C Purification
Bi-Polar Ionisation (BPI)
Controls (sensors, controllers, software)

Alongside these key components, the market encompasses a diverse range of other products:

Air Purifiers: mainstay of the market, removing pollutants through filtration.
Ventilation Systems: established especially in the commercial segment, often with heat recovery capabilities for energy efficiency.
Air Quality Monitors: devices providing real-time data on IAQ parameters.
Humidifiers & Dehumidifiers: essential for humidity control and prevention of mould growth; smart devices can automatically adjust to maintain optimal humidity levels.

The IAQ outlook looks promising; the biggest growth stems from the residential sector, as homeowners are far more educated (than they used to be prior to the pandemic) on the hazards of poor indoor air quality and are keen to tackle associated risks. The focus in the residential segment will be on ventilation and possibly air filtration. On the other hand, in the commercial segment, IAQ solutions will likely integrate with building management systems, thus enabling automated adjustments to optimise air quality. In conjunction with this, a rise in personalised IAQ solutions that cater to the individual needs and preferences, is deemed an emerging future development. Further, a focus on preventative measures has potential with impact on the construction industry. Building materials with lower VOC emissions and self-cleaning surfaces can help reduce air pollution at the source.