PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1388783
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1388783
Emission monitoring is the procedure of evaluating the environmental impacts of hazardous emissions of harmful gasses to assist numerous businesses in achieving their long-term sustainability goals. Additionally, it also refers to a tool utilized for monitoring the emissions of several gases in the air such as carbon monoxide, sulfur dioxide, carbon dioxide, mercury, hexavalent chromium, and nitrogen from industrial facilities. An emission monitoring system (EMS) is commonly of two types namely, predictive emission monitoring system (PEMS) and continuous emission monitoring system (CEMS).
The growth could be attributed to advancements in remote monitoring capabilities, sensor technologies, and data analytics that have significantly enhanced the efficiency and functionality of emission monitoring systems. Real-time data availability, reliability, and improved accuracy are gaining the adoption of these systems as these systems allow companies to measure several air pollutants' concentrations or emission levels. In addition, the demand for these systems is significantly accelerated by stringent environmental regulations enforced by governments. Moreover, the high dependency of economies across the world on coal-fired power plants to generate electricity and the fast growth of the natural gas and crude oil infrastructure drive the market growth. However, high cost and the rise in focus on clean energy are the factors expected to obstruct the market growth of emission monitoring systems.
The global emission monitoring systems market is segmented on the basis of type, component, end-use, and region.
The market is divided into two categories based on type: predictive emission monitoring system (PEMS) and continuous emission monitoring system (CEMS). The continuous emission monitoring system (CEMS) segment is likely to maintain its dominance over the forecast period. CEMS offers real-time and accurate data on emissions, allowing industries to track and monitor their pollutant levels continuously. CEMS encompasses various activities focused on reporting and identifying pollutant emissions from stationary sources to the atmosphere.
The market is divided into six categories based on end-uses: pharmaceutical, oil & gas, chemical & fertilizer, metals & mining, pulp & paper, power generation, and others. The oil & gas is accounted to possess the largest market revenue. The oil & gas industries use EMS to comply with regulations, reduce costs, optimize operations, and demonstrate environmental responsibility. Oil and gas companies adopt several strategies and technologies with EMS such as the control and measurement of greenhouse gas emissions, including methane (CH4), and carbon dioxide (CO2), to ensure compliance with environmental regulations and reduce the environmental impact of operations.
Region-wise, the high-resolution melting analysis market can be segmented into North America, Asia Pacific, Europe, and the Rest of the World. North America is expected to lead the overall market in terms of revenue. The region's growth is fueled by a dynamic and robust economy that is remarkable for its thriving industries including technology, healthcare, finance, and manufacturing. The North American market is shaped due to government policies and regulations. A favorable business environment is created by environmental sustainability, consumer protection, and regulatory frameworks that place a high priority on fair competition. Moreover, the Asia Pacific region is predicted to grow notably during the forecast period. Rising disposable incomes, the region's expanding middle class, and urbanization contribute to growing consumer spending, thus driving demand for several goods and services in the region.
EMS offers analytics and real-time data that allow organizations to identify areas of energy waste, process inefficiencies, and excessive emissions. Businesses can improve their overall operational efficiency and minimize costs by reducing emissions, minimizing energy consumption, and optimizing operations. The EMS market is highly competitive as key players are investing in Research & Development (R&D) to drive innovation. These market players are adopting several development strategies including mergers & acquisitions, collaboration, and product launches to enhance their existence and market share. For instance, in April 2023, NASA launched Tropospheric Emissions: Monitoring of Pollutants (TEMPO), TEMPO aims to monitor air pollutants over the North American continent from a geostationary satellite
For instance, in September 2021, Emerson announced the Rosemount™ XE10 Continuous Emissions Monitoring System (CEMS), which was created to assist industrial plants in meeting increasingly stringent environmental regulations and evolving sustainability demands.
The scope of this report covers the market by its major segments, which include as follows: