Tokyo, Japan, May 05, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Emission Monitoring System Market Research Report: By Component, System Type, Vertical, and Region- Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 5.21 billion by 2030. The reports further predict the market to flourish at a robust CAGR of over 6.30% during the assessment timeframe.
Emission Monitoring System Market Key Players
Eminent industry players profiled in the global emission monitoring system market report include.
- AMETEK Inc
- Emerson Electric Co
- General Electric
- Siemens
- PARKER HANNIFIN CORP
- Rockwell Automation Inc
- ABB Ltd
- Thermo Fisher Scientific
- CMC Solutions
- Fuji Electric Co. Ltd.
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Emission Monitoring System Market Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 5.21 Billion |
| Growth Rate | CAGR of 6.30% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | The increased number of factories established across the globe |
| Key Market Drivers | The stringent regulations from the government. Concerned authorities to monitor and control carbon emissions. A rapid increase in environmental pollution and declining air quality. |
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Emission Monitoring System Market Drivers
Reliance on Coal-Fired Power Plants for Generation of Electricity to Boost Market Growth
During the projected period, rising reliance on the coal-fired power plants for producing energy is anticipated to fuel market growth for worldwide emission monitoring systems. Many nations still rely heavily on coal-fired power plants to produce their electricity. Numerous airborne pollutants, including sulphur dioxide, lead, mercury, nitrogen oxides, particulates, & other heavy metals, are released when coal is burned. Injurious health effects from prolonged exposure to these contaminants include breathing problems, asthma, brain damage, heart issues, cancer, and early demise. Since it measures the concentration of harmful gases or particulate matter generated from the plant & other industrial operations, the emission monitoring system is vital in lowering carbon emissions. In turn, this guarantees that emission is constrained to allowed standards.
Emission Monitoring System Market Opportunities
Growing Need from Oil & Gas Industries to offer Robust Opportunities
A significant growth driver is expected to arise from the expanding demand from the oil and gas & power production industries. Global demand is being driven by strict government restrictions surrounding the installation of Emission Monitoring Systems (EMS) in upstream & downstream oil & gas sector segments to monitor air quality and analyze dangerous gas emissions.
Restraints and Challenges
High Cost to act as Market Restraint
The high emission monitoring system cost and increasing focus on clean energy may act as market restraints over the forecast period.
Emission Monitoring System Market Segmentation
The global emission monitoring system market is bifurcated based on vertical, system type, and components.
By components, hardware will lead the market over the forecast period.
By system type, CEMS will domineer the market over the forecast period.
By vertical, oil and gas will spearhead the market over the forecast period.
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COVID-19 Analysis
The market for emission monitoring systems has been impacted by the COVID-19 outbreak in many ways. On the one side, the epidemic has caused a decline in traffic and industrial activity, which has reduced greenhouse gas emissions & other pollutants. As a result, several businesses are experiencing a decline in the need for pollution monitoring equipment. However, the pandemic has also brought attention to the value of good air quality and the necessity of efficient emission monitoring system in a variety of locations, particularly in hospitals and other indoor settings. As a result, there is now more need for emission monitoring systems which can support ensuring the security of personnel and customers in a variety of circumstances.
Emission Monitoring System Market Regional Analysis
APAC to Command Emission Monitoring System Market
Power generating and coal-powered businesses are widely spread throughout Asia Pacific. Power from coal-powered businesses is readily produced in nations like China and India. The primary end-users of the Emission Monitoring system are the coal-powered industries since they release a significant amount of substrate matter & dust in the environment. Europe is regarded as the largest IT vendor and a key industrial region for establishing factories and data centre facilities, on the other hand. The market for emission monitoring systems is expanding in those nations thanks to the rising construction activity and energy consumption. In recent years, the governments of China and India have put increasingly strict rules on their respective manufacturing sectors. The major market participants in these nations have been driven by such circumstances to install Emission Monitoring system in their plants. Additionally, the market for emission monitoring systems is expanding due to the rising environmental pollution and deteriorating air quality in emerging regions. The main consumers of pollution monitoring systems in the region are the expanding chemical and energy sectors. Additionally, the market need for emission systems is increasing due to the increase of coal-fired power plants. Lockdowns were implemented across the region by COVID-19. Asian nations lost a substantial quantity of market and money as a result of the lockdown's forced closure of numerous manufacturing facilities. The main consumers of the coal-fired power generation are emerging economies like China and India. As a result, leading companies in the market for pollution monitoring systems are given lucrative prospects. A number of laws are in place to limit air pollution, and they are getting stricter every year. Market participants can provide innovative items at affordable pricing and earn a considerable competitive edge. The oil & gas industry emits a great deal of dangerous gases, including sulphur dioxide and methane. The government can control the release of dangerous gases by collecting the necessary data from emissions through the emission monitoring system. To achieve a competitive edge in the market, key organizations might concentrate on these chances and offer distinctive products.
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North America to Have Admirable Growth in Emission Monitoring System Market
By enhancing air quality and reducing air pollution, the Environmental Protection Agency in the US is dedicated to safeguarding public health. As cleaner air has so many positive effects on public health, the Clean Air Act's adoption in the US and subsequent technological developments from numerous inventors have significantly improved the country's air quality. Demand on the market is rising as a result of government measures to lessen energy emissions from different outdated and public buildings. The area is growing as a result of its set and precise emission-control measures. For instance, "The Clean Air Act" as per the EPA outlines the U.S. government's shift towards reducing air pollution. This bill approved the development of national and state regulations to control the amount of emissions produced by both stationary (industrial) & mobile sources. North America held the top spot in the market in 2018 as a result of its established and precise emission control rules. There have been the most EMS deployments in North America. However, due to market saturation, it is anticipated that the percentage of novel deployments within the region will somewhat decrease throughout the projected period. The CEMS are anticipated to be employed as upgrades or replacements because North America is a mature market.
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