Emission Monitoring System Market share forecast to witness considerable growth to 2030 | Siemens AG,AMETEK,
Emission Monitoring System Market12
Emission monitoring systems are used to monitor flue gases and emissions from industrial operations in real-time. They help identify toxic gas leaks and ensure compliance with emission standards.
Market Dynamics:
Stringent emission regulations mandated by environmental agencies across the world are expected to drive the emission monitoring system market. Governments are imposing stringent limits on harmful gases such as nitrogen dioxide, sulphur dioxide and particulate matter emissions from power plants, oil & gas refineries and other heavy industries. Non-compliance can result in heavy fines being imposed on companies. At the same time, increasing concerns about air pollution and its health impacts are also pushing industries to adopt emission monitoring systems to control and reduce emissions. Technological advancements enabling continuous and accurate emission monitoring are further expected to support the market growth during the forecast period.
The global emission monitoring system market is estimated to be valued at US$ 5,290.00 million in 2021 and is expected to exhibit a CAGR of 7.5% over the forecast period (2021-2028).
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Main Market Drivers for Emission Monitoring Systems\
Stringent Government Regulations on Emission Levels are Key Market Driver
Many governments across the world have enacted stringent emission level standards for industries in a bid to curb rising pollution levels. Non-compliance with prescribed emission limits can attract heavy penalties. This has compelled industries to closely monitor their emission levels and remain compliant. Emission monitoring systems help industries do just that in a cost-effective manner by continuously monitoring emission quantities and feeding real-time data for regulatory compliance. The frequent tightening of emission norms is expected to further propel demand for these systems.
Growing Adoption of Continuous Emission Monitoring Systems
Traditionally, emission monitoring involved manual stack sampling which was a time-consuming and labor-intensive process. However, continuous emission monitoring systems (CEMS) that can automatically and continuously measure and record emission levels are fast gaining traction. CEMS offer advantages like real-time data, ease of monitoring compliance, and ability to detect anomalies early. Their use is increasing across sectors like power generation, manufacturing, cement etc. driving the overall emission monitoring system market growth.
Top Key Players:
ABB Ltd, Thermo Fisher Scientific Inc., AMETEK, Inc., Teledyne Technologies, Inc., Emerson Electric Co., Sick AG, General Electric Company, Siemens AG, Rockwell Automation, Inc., and Horiba Ltd.
Detailed Segmentation:
Global Emission Monitoring System Market, By Technology:
Continuous Emission Monitoring Systems (CEMS)
Predictive Emission Monitoring Systems (PEMS)
Global Emission Monitoring System Market, By Industry Verticals:
Oil &Gas
Chemicals & Fertilizers
Healthcare
Pulp & Paper
Energy
Mining
Others
Regional Analysis:
⁃ North America: United States, Canada, and Mexico
⁃ South & Central America: Argentina, Chile, Brazil and Others
⁃ Middle East & Africa: Saudi Arabia, UAE, Israel, Turkey, Egypt, South Africa & Rest of MEA.
⁃ Europe: UK, France, Italy, Germany, Spain, BeNeLux, Russia, NORDIC Nations and Rest of Europe.
⁃ Asia-Pacific: India, China, Japan, South Korea, Indonesia, Thailand, Singapore, Australia and Rest of APAC.
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Main Market Restrain for Emission Monitoring Systems
High Initial Costs of Installation and Maintenance Hamper Wider Adoption
While emission monitoring systems provide compliance and operational benefits, their high initial purchase and installation costs pose a challenge, especially for small to medium scale industries. Periodic maintenance, calibration requirements and costs associated with replacing worn-out components also add to the overall expense over the lifetime. This discourages some potential customers and restricts the market to some extent. However, the availability of affordable leasing options can help address this restrain.
Main Market Opportunity for Emission Monitoring Systems
Adoption in Developing Nations with Stricter Norms
Many developing nations like China and India have seen a massive growth in industrial activities but addressing pollution has become a pressing challenge. Both countries have recently mandated stricter emission norms to control deteriorating air quality. This development opens up new opportunities for emission monitoring system providers. Localizing manufacturing and offering affordable solutions customized for small industries can help tap into this sizeable untapped market potential.
Main Emission Monitoring System Market Trend
Emergence of IoT-Based Solutions
The integration of Internet of Things (IoT) capabilities is elevating emission monitoring to the next level. IoT-enabled CEMS allow remote monitoring of facilities from any location. Cloud-based platforms help compile data from multiple sites for centralized analysis. Predictive analytics using machine learning on historical data helps detect anomalies and advise maintenance in advance. Such smart, connected solutions are gaining traction and will drive new innovation and use cases, strengthening overall market trends.
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Key Questions Addressed in the Market Report:
What is the expected size, share, and CAGR of the Emission Monitoring System Market over the forecast period?
What are the key trends expected to influence the Emission Monitoring System Market between 2023 and 2030?
What is the expected demand for various types of products/services in the Emission Monitoring System Market?
What long-term impact will strategic advancements have on the Emission Monitoring System Market?
Who are the key players and stakeholders in the Emission Monitoring System Market?
What are the different segments and sub-segments considered in the Emission Monitoring System Market research study?
Strategic Points Covered in Table of Content of Global Emission Monitoring System Market:
Chapter 1 : Introduction, market driving forces, and product The study and research objectives are to investigate the Emission Monitoring System market.
Chapter 2: Exclusive Summary - Emission Monitoring System Market Fundamentals.
Chapter 3: The Changing Impact on Market Dynamics- Drivers, Trends, and the Challenges and Opportunities of Process Spectroscopy
Chapter 4: Emission Monitoring System Market Factor Analysis, Porter's Five Forces Analysis, Supply/Value Chain, SWOT Analysis, Market Entropy, and Patent/Trademark Analysis are all presented in this chapter
Chapter 5: 2017-2022 Forecast by Type, End User, and Region/Country
Chapter 6: Evaluating the key players in the Emission Monitoring System market, including the Competitive Landscape, Peer Group Analysis, BCG Matrix, and Company Profile.
Chapter 7: To evaluate the market by segments, countries, and manufacturers/companies, as well as revenue share and sales by major countries in these regions (2023-2030).
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