PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1389909
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1389909
Scope of the Report | |
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Years Considered for the Study | 2023-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | Value (USD Billion) |
Segments | By System Type, Device Type, Software, Services, Industry and Region |
Regions covered | North America, Europe, Asia Pacific, and ROW |
The global emission monitoring system market size is expected to grow from USD 3.2 billion in 2023 to USD 5.0 billion by 2028, at a CAGR of 9.3% from 2023 to 2028. Many countries-both developed and developing-have taken steps to monitor air pollutants. In the United States, for example, the Clean Air Act requires the Environmental Protection Agency (EPA) to establish National Ambient Air Quality Standards (NAAQS) for six pollutants, including particulate matter, ozone, nitrogen oxide, carbon monoxide, sulfur dioxide, and lead. The EPA must periodically review these standards to ensure that they provide adequate environmental protection and update them as necessary.
"Services segment is projected to grow at significant CAGR during the forecast period."
Emission monitoring systems undergo continuous degradation with their operation as the impurities and chemical gases react with sensors, gas analyzers, filters, and other components of the systems. Therefore, the maintenance of hardware and software is essential. Regular maintenance is required to ensure the optimum operating condition of the system. It also helps increase the operational efficiency of the emission monitoring system.
"Predictive emission monitoring system segment is projected to grow at an impressive CAGR during the forecast period."
A DAS can be used to collect real-time data from existing process sensors, such as temperature, flow, and pressure sensors. This data can then be used to train and update the PEMS model, resulting in more accurate predictions. Some of the prominent players that offer PEMS are ABB (Switzerland), Baker Hughes Company (US), DURAG GROUP (Germany), and Trace (US). For example, Baker Hughes Company's methane emission monitoring system, which is a type of PEMS, aids in identifying and measuring methane emissions more precisely.
"Chemicals, petrochemicals, refineries and fertilizers industry is expected to hold a significant market share during the forecast period."
Emission monitoring systems are designed to monitor corrosive gases in extreme applications. In chemical plants, emission monitoring systems perform an elemental analysis of chemicals to determine the grade and quality of the chemicals extracted. Furthermore, companies install emission monitoring systems to monitor gas concentrations at elevated pressures and temperatures. Petroleum refineries are a significant source of hazardous and toxic air pollutants, such as particulate matter, nitrogen oxide, carbon monoxide, and sulfur dioxide. The refining stages of separation, conversion, and treatment are where these gases are emitted. These gases are highly corrosive and can cause cardiovascular diseases, cancer, and reproductive problems.
"The market in Europe is expected to grow at a significant CAGR during the forecast period."
Countries such as Germany, the UK, and France are the major contributors to the EMS market in the region. The region is known for its robust power, cement, and chemical industries. Sulfur emissions from power plants and manufacturing industries are expected to be the key driving factor for market growth. Additionally, the European Commission consistently enforces environmental regulations that are perceived to be fair compared to other regions. Its air pollution regulations are also considered to be rather stringent.
Major players profiled in this report are as follows: ABB (Switzerland), AMETEK. Inc. (US), Emerson Electric Co. (US), Siemens (Germany), Thermo Fisher Scientific Inc. (US), SICK AG (Germany), Fuji Electric Co., Ltd. (Japan), HORIBA, Ltd. (Japan), Baker Hughes Company (US), Teledyne Technologies Incorporated (US), Honeywell International Inc. (US), Spectris (UK), and others.
Research Coverage
The emission monitoring system market has been classified by types of emission, system type, offering, industry and region. The market by types of emission has been classified into oxygen, carbon monoxide, carbon dioxide, ammonia, hydrogen sulfide, nitrogen oxide, and hydrocarbons. The offering segment is divided into hardware, software, and services. The market has been divided into continuous emission monitoring systems (CEMS) and predictive emission monitoring system (PEMS) by system type segment. Furthermore, the industry segment includes power generation; oil & gas; chemicals, petrochemicals, refineries, and fertilizers; building materials; pulp and paper; pharmaceuticals; metals; mining; marine and shipping; and waste incineration. The study also forecasts the market size in four key regions-North America, Europe, Asia Pacific, and RoW.
Product Development/Innovation: Detailed insights on new products, technologies, research & development activities, funding activities, industry partnerships, and new product launches in the emission monitoring system market
Market Development: Comprehensive information about lucrative markets - the report analyses the emission monitoring system market across regions such as North America, Europe, Asia Pacific, GCC, Rest of Middle East & Africa, and South America.
Market Diversification: Exhaustive information about new products & technologies, untapped geographies, recent developments, and investments in the emission monitoring system market
Competitive Assessment: In-depth assessment of market position, growth strategies, and product offerings of leading players like ABB (Switzerland), AMETEK. Inc. (US), Emerson Electric Co. (US), Siemens (Germany), Thermo Fisher Scientific Inc. (US) and among others in the emission monitoring system market
Strategies: The report also helps stakeholders understand the pulse of the emission monitoring system market and provides information on key market drivers, restraints, challenges, and opportunities