The Residential Air Quality Control Services Market is being driven by Rising demand for well-maintained infrastructure
The Residential Air Quality Control Services Market is expected to grow at a CAGR of 8.09% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2143.3 million. Outsourcing Facilities Management (FM) services for cleaning and maintenance tasks allows building owners to allocate their resources towards more strategic areas, such as energy management and financial management. By engaging third-party vendors for non-core processes, building owners can focus on their core competencies. The growing infrastructure development, particularly in the residential sector, presents significant opportunities for FM service providers. Outsourcing FM services ensures that providers assume full responsibility and associated risks, while offering a systematic and regular check of systems, ultimately enhancing overall building performance and resident satisfaction.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.09% |
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Market growth 2024-2028 |
USD 2143.3 million |
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Market structure |
fragmentation |
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YoY growth 2023-2024(%) |
7.32 |
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Key countries |
US, China, Germany, Japan, UK, Australia, India, France, Brazil, UAE, Rest of World (ROW), Saudi Arabia, France, South Korea, Mexico, Italy, and Spain |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Residential Air Quality Control Services Market encompasses a range of solutions designed to enhance Indoor Air Quality (IAQ) in homes, ensuring respiratory well-being for occupants. These services include Filtration systems and Air purifiers that target Contaminants such as Odors, Allergens, and Indoor pollutants. Advanced technologies like Electrostatic precipitators help remove particles as small as coal dust and acid gas emissions, including Mercury and SO2. Clean Air Partners, a leading player, offers sensor networks that monitor Air Quality levels, alerting homeowners to potential hazards. Environmental conservation initiatives and Workplace safety regulations have boosted demand for these services in various sectors, including the Automotive industry. However, concerns over Toxicity from Atmospheric pollution levels and Respiratory illnesses linked to Acid rain and Air pollution necessitate ongoing innovation in Air Quality Control Services. As a result, the market continues to evolve, addressing the complex challenges of Indoor and Outdoor Air Pollution.
The Residential Air Quality Control Services Market is a segment of the larger Industrial Machinery and Supplies and Components Market. This market encompasses businesses involved in the production of machinery and components, including presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. According to Technavio's market analysis, the Industrial Machinery and Supplies and Components Market's growth is driven by expanding industrial output in process and discrete industries, particularly in developing countries, leading to increased demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages. Consequently, the need for air quality control systems in residential applications is expected to rise, fueling the growth of the Residential Air Quality Control Services Market. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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