The market for emission monitoring systems is anticipated to grow at a CAGR of 6.5% between 2022 and 2032. The market for emission monitoring systems is anticipated to grow from US$ 5.3 Bn in 2021 to US$ 10.7 Bn in 2032.
The market for emission monitoring systems is expanding as a result of the substantial reliance on coal-fired power plants for the generation of energy, tight emission norms and regulations established by governments in North America and Europe, and a growing need for environmental protection. In addition, it is anticipated that the growing number of coal-fired power plants in APAC would increase demand for pollution monitoring systems.
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Key Takeaways:
- The U.S. is estimated to account for a dominant share of the North America market, with demand growing at a CAGR of 5.8% through 2032.
- Japan is anticipated to exhibit the fastest growth at a remarkable CAGR of 8.7% during the assessment period 2022-2032.
- India is forecast to emerge as a highly remunerative market in Asia Pacific, with sales projected to grow at an 8.3% CAGR between 2022 and 2032.
- The U.K. is expected to account for a significant share of the Europe market, driven by the presence of stringent emission norms and regulations in the country.
- On the basis of system type, the continuous emission monitoring system segment is projected to dominate the market, exhibiting growth at 8.8% CAGR over the forecast period.
Growth Drivers:
- Growing establishment of new oil & gas production and refining units to cater to the rising fuel demand is favoring sales in the market.
- Increasing adoption of continuous emission monitoring systems across industrial sectors, owing to their ability to constantly monitor relatively low gases emission, and high accuracy is driving the demand.
Competitive Landscape
Owing to many competitors in the industry selling their products both domestically and internationally, the emission monitoring systems market is quite competitive.
The demand for emission monitoring system appears to be moderately concentrated, with big firms using methods including product innovation, mergers and acquisitions, and strategic partnerships to stay competitive and expand their global emission monitoring system reach.
Recent Developments in the Emission Monitoring System:
- ENVEA will launch Mercury CEMS in October 2021. (SM-5). It enables the monitoring of very low mercury contents in flue gas emissions in a continuous, accurate, and reliable manner.
- Emerson will release the Rosemount XE10 CEMS in September 2021. It is intended to assist industrial units in complying with increasingly stringent environmental requirements as well as growing sustainability demands.
- Baker Hughes launched System 1 Predictive Emission Monitoring System (PEMS) in February 2020, which forecasts the amount of stack emissions produced by combustion equipment based on ambient circumstances, fuel mix, and machine operating parameters.
Key Companies Profiled:
- Servomex
- Fuji Electric
- Yokogawa Electric Corporation
- M&C Tech Group
- DURAG Group
- ALS Limited
- Thermo Fisher Scientific Inc
- Teledyne Technologies
- Siemens AG
- Rockwell Automation Inc
- Sick AG
- Horiba
Key Questions Covered in the Emission Monitoring System Market Report
- What is the projected value of the Emission Monitoring System factors Industry in 2022?
- At what rate will the global Emission Monitoring System factors market size grow until 2032?
- Which are the factors hampering the growth of Emission Monitoring System factors?
- Which region is expected to lead in the global Emission Monitoring System factors market By 2032?
- Which are the factors driving the Emission Monitoring System factors Industry during the forecast period?
- What is the expected market value of the Emission Monitoring System factors market during the forecast period?
Regional Analysis For Emission Monitoring System Market:
- APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (USA, Canada and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, United Arab Emirates, South Africa)
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