WELLESLEY, Mass. — The United States IAQ market is forecast to grow to $11.4 billion by 2019, with a compound annual growth rate (CAGR) of 7 percent over the next five years, according to new report from BCC Research. The equipment segment is expected to grow at a CAGR of 7.4 percent.
Since 2012, said BCC Research, continuing media attention focused on the health effects of toxic mold, the outbreak of infectious diseases such as bird flu, and the increase in chronic respiratory diseases such as asthma has resulted in new interest in IAQ in homes, commercial buildings, schools, and hospitals.
BCC Research said there is a distinct equipment market that includes products such as air-cleaning equipment, HVAC replacement filters, and IAQ instrumentation. This market, which was valued at $3.9 billion in 2013, is predicted to reach nearly $4.1 billion in 2014 and grow to $5.8 billion in 2019, with a projected CAGR of 7.4 percent.
Although the commercial segment was the largest market for IAQ equipment and services in 2013, the residential sector is projected to move into the top position by 2019, with 29 percent of the market, followed by commercial buildings (28 percent), health care (16 percent), and schools (14 percent).
“The U.S. economy has continued to recover from the 2008-2009 recession, boosting the market for IAQ equipment and services,” said Andrew McWilliams, BCC Research environment analyst. “The IAQ market is important because health problems such as building-related illness and sick-building syndrome, as well as other ailments associated with poor IAQ in homes, offices, and schools, are on the rise in the U.S.”
For more information on the U.S. Indoor Air Quality Market report, click here.
Publication date: 11/10/2014