PUBLISHER: The Business Research Company | PRODUCT CODE: 1531949
PUBLISHER: The Business Research Company | PRODUCT CODE: 1531949
Emission equipment refers to devices and systems specifically designed to monitor, control, and reduce the emissions of pollutants from diverse sources. The primary objective of emission equipment is to mitigate environmental impact, enhance air quality, and ensure compliance with stringent regulatory standards governing air pollution.
The main types of emissions targeted by emission equipment include particulate matter control, nitrogen oxides control, sulfur oxides control, and volatile organic compounds control. Particulate matter (PM) control equipment is engineered to capture and eliminate fine solid particles and liquid droplets suspended in the air, typically generated by industrial processes such as combustion and manufacturing. Various solutions within this domain include emission test equipment, emission test software, and emission test services, utilized across a spectrum of industries including industrial, automotive, marine, aerospace, and others.
The emission equipment market research report is one of a series of new reports from The Business Research Company that provides emission equipment market statistics, including emission equipment industry global market size, regional shares, competitors with an emission equipment market share, detailed emission equipment market segments, market trends, and opportunities, and any further data you may need to thrive in the emission equipment industry. This emission equipment research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The emission equipment market size has grown rapidly in recent years. It will grow from $155.52 billion in 2023 to $172.12 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth during the historic period can be attributed to stringent environmental regulations and policies, rapid industrialization and urbanization, increasing public awareness and advocacy for environmental issues, rising concerns about public health, and heightened awareness of environmental challenges.
The emission equipment market size is expected to see rapid growth in the next few years. It will grow to $260.08 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to ongoing stringent environmental regulations, sustained economic growth, expanding industrial activities, mounting public and governmental pressure for sustainability, global agreements and initiatives promoting environmental stewardship, and heightened awareness of health and environmental impacts. Major trends expected during this period include advancements in technology, integration of advanced technologies in emission reduction and efficiency, adoption of renewable energy and clean technologies, emphasis on sustainable and green technologies, digitalization of processes, and implementation of smart technologies to optimize resource use and reduce environmental footprint.
The growth of the emission equipment market is driven by increasing greenhouse gas emissions. Greenhouse gas emissions result from releasing gases into the atmosphere, causing the greenhouse effect and contributing to global warming. These emissions stem from human activities and natural processes, which have intensified notably over the past century. Emission equipment plays a crucial role in mitigating greenhouse gas emissions by reducing pollutants released into the atmosphere from various industrial and commercial activities. For example, the Office for National Statistics reported in June 2024 that greenhouse gas emissions per person in the UK rose by 1.2% to 506 million tons of CO2 equivalent between 2021 and 2022. Hence, the rise in greenhouse gas emissions is spurring the expansion of the emission equipment market.
Key companies in the emission equipment market are innovating with advanced products such as IoT-based building management systems to lower energy consumption and emissions. These systems optimize energy use by monitoring and controlling building systems such as lighting and ventilation in real-time. For instance, Siemens AG introduced the Connect Box in March 2023, an open and user-friendly IoT solution designed to manage and reduce emissions from small to medium-sized buildings. The Siemens Connect Box enhances building operations by collecting real-time data from IoT sensors to monitor energy usage and system performance. Using this data, it adjusts operations to maximize efficiency, thereby reducing overall emissions from the building.
In July 2021, Valmet Oyj acquired EWK Umwelttechnik GmbH, aiming to bolster its presence in the environmental technology sector, specifically in air pollution control and emission reduction solutions. EWK Umwelttechnik GmbH, headquartered in Germany, specializes in manufacturing, selling, and providing post-installation services for air pollution control systems.
Major companies operating in the emission equipment market are BASF SE, Siemens AG, General Electric Company, Thermofisher Scientific Inc., Honeywell International Inc., ABB Ltd., Baker Huges Co., Alstom SA, Johnson Matthey plc, Emerson Electric Co., ANDRITZ AG, Fuji Electric Co. Ltd., Ametek Inc., Teledyne Technologies Incorporated, HORIBA Ltd., SICK AG, Spectris plc, Thermax Limited, Babcock And Wilcox Enterprises Inc., Enviro Technology Services plc
North America was the largest region in the emission equipment market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the emission equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the emission equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The emission equipment market consists of sales of emission monitoring systems, emission control devices, activated carbon filters, industrial dust collectors, and industrial flares. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Emission Equipment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on emission equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for emission equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The emission equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.