Covid-Proofing Air Is a $10 Billion Opportunity

When's the last time you actually thought about your office's air conditioner? Pre-pandemic, assuming it worked, probably never. Today? Probably a lot. And even once the coronavirus outbreaks have subsided and a vaccine is finally in hand, you’re probably still going to feel differently about the air you breathe, especially indoors.

Increased interest in filtration, disinfection and other tools for improving the quality of indoor air will likely create a new revenue opportunity of multiple billions of dollars across the industry, Johnson Controls International Plc CEO George Oliver said on a call Tuesday to discuss the building-products company’s most recent quarterly results. Johnson Controls alone is looking at potential projects in this vein worth “a couple of hundred million” for just next year, he said. That echoes commentary from rivals including Carrier Global Corp., which estimates the ultimate market for indoor air-quality improvements will reach about $10 billion, including $150 million of potential business opportunities the company has already identified for itself. Honeywell International Inc. cited a more than $600 million sales pipeline for its “healthy buildings” offerings.