The Asia-Pacific air quality control systems market is expected to cross more than $40 billion by 2019, with a projected CAGR of 6.7%, signifying a high demand for air quality control systems in both developed and developing countries in Asia-Pacific.
The Asia-Pacific air quality control systems market is at various stages of development. The market opportunities for different type of technologies are diverse across Asia-Pacific regions. In emerging economies such as China and India, the market is tied to rapid industrialization and urbanization activities. Government and regulatory bodies in these regions are implementing stringent regulations to effectively, reduce the emission from these industries.
Power generation: Biggest market by Application
The Power generation industry market accounted for the largest share of the total Asia-Pacific air quality control systems market, in 2013. Coal is the largest source of energy for generation of electricity in Asia-Pacific. The large scale use of coal pollutes the environment with toxins creating global warming. Air quality control systems are capable of drastically reducing air pollution emissions from coal-fired power plants, in turn creating huge demand for these systems.
Asia-Pacifc Air Quality Control Systems: Market Share (Value), by Applications, 2013
Source: MarketsandMarkets Analysis
The major air quality control systems companies in Asia-Pacific include Alstom (France), Babcock & Wilcox Company (U.S.), Foster Wheeler (U.S.), Mitsubishi Hitachi Power systems America (Japan), Hamon RC (U.S.), and Siemens Energy (Germany).
Innovative equipment and new product launch led companies to get more contracts
The leading companies in the air quality control systems market focus on the growth of their technologies and air quality equipment. Innovative technologies enable companies to gain contracts and agreements with the key objective of serving various industry sectors, by having a wide geographical presence. The top companies have been able to acquire a majority of contracts from the end user industries.