New York, Sept. 12, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the global emission monitoring systems market will grow from USD 3.28 Billion in 2022 to USD 8.34 Billion by 2032. The function of emission monitoring systems is crucial in conjunction with emissions trading programs, such as cap-and-trade systems. By giving precise information on emissions reductions, these technologies assist organizations in participating in carbon trading schemes. Companions are therefore encouraged to invest in emission reduction strategies and technology. Modern mechanisms for carbon trading have evolved, making emissions trading between organizations simple. These systems improve the efficiency of emissions reduction initiatives while streamlining the trading process and guaranteeing transparency. Emissions trading is increasingly essential in efforts to cut greenhouse gas emissions on a global scale. Modern society relies on emission monitoring systems as a critical component of environmental protection, public health, and regulatory compliance. Their progression from straightforward eye operations to complex, data-driven systems reflects society's growing understanding of environmental problems. As technology develops, emission monitoring systems will become more critical in solving complicated environmental problems and establishing a more sustainable and healthy future for the world.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 3.28 Billion |
| Projected Market Size in 2032 | USD 8.34 Billion |
| CAGR Growth Rate | 9.78% |
| Base Year | 2022 |
| Forecast Years | 2023-2032 |
| Key Market Players | AMETEK, Inc.,ABB Ltd,Emerson Electric Co.,Siemens AG,General Electric Company,Rockwell Automation, Inc.,Horiba Ltd.,Sick AG,Thermo Fisher Scientific Inc.,Teledyne Technologies, Inc.,ACOEM Ecotech Pty. Ltd.,CMC Solutions |
| Key Segment | Type, Component, Industry |
| Major Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
Key Insight of the Emission Monitoring Systems Market
Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.
During the forecast period, Asia-Pacific is expected to grow at the highest CAGR within the global emission monitoring systems market. The Asia-Pacific region would significantly expand. Asia Pacific has enormous growth potential in the global emission monitoring systems (EMS) market due to its rapid industrialization, urbanization, and growing environmental awareness. While the area has particular difficulties, it also offers emission monitoring system providers the chance to contribute to emissions reduction significantly. China is one of the world's top producers of greenhouse gases. The demand for the emission monitoring system has been augmented by the Chinese government's efforts to curb air pollution and adopt tighter emission regulations. The market in the nation is poised for significant growth as China transitions towards greener energy sources and sustainable industrial practices. Similar patterns are being observed in India. The Indian government has launched programs to reduce air pollution and support renewable energy. As a result, businesses in India use emission monitoring systems more frequently to track emissions and ensure that environmental laws are followed.
The predictive emission monitoring system (PEMS) segment is expected to grow at the highest CAGR during the forecast period.
The type segment is divided into continuous emission monitoring system (CEMS) and predictive emission monitoring system (PEMS). The predictive emission monitoring system (PEMS) segment is expected to grow at the highest CAGR during the forecast period. PEMS are software-based systems that use cutting-edge statistical or mathematical methods to produce accurate real-time pollutant emission estimates. PEMS provides accurate monitoring capabilities, lowering capital expenditures and ongoing operational costs related to maintenance and spare components. Additionally, they reduce innovation with industrial operations. PEMS helps plant owners and operators reduce management and unplanned costs brought on by problems with conventional hardware analyzers. PEMS also rarely necessitates the installation of extra hardware or equipment, minimizing disruption to plant operations. As a result, organizations may easily and without interruption integrate pollution monitoring into their current infrastructure, cutting downtime and increasing operational efficiency.
The services segment is expected to grow at the highest CAGR during the forecast period.
The component segment is divided into hardware, services and software. The services segment is expected to augment the market during the forecast period. The service category includes installation, deployment, training, support, and maintenance. Emission monitoring system services offer various solutions to help businesses monitor, control, and analyse pollutant emissions. These services offer comprehensive assistance to businesses in controlling emissions efficiently, fulfilling legal requirements, ensuring compliance with environmental laws, and promoting continual environmental performance improvement. These services help organizations enhance their sustainability initiatives, reduce their adverse environmental effects, and uphold their solid environmental credentials. The installation and configuration of hardware and software components for emission monitoring are other services that EMS service providers provide.
The power generation segment is expected to grow at the highest CAGR during the forecast period.
The industry segment is divided into oil & gas, metals & mining, power generation, chemical and others. The power generation segment is expected to grow at the highest CAGR during the forecast period. Power generation facilities, especially thermal power plants, rely on emission monitoring systems to track, monitor, and control the discharge of pollutants into the environment. These systems are essential in the power generation industry to ensure regulatory compliance and minimize environmental effects. The power generation industry uses the emission monitoring system to monitor and measure emissions of several pollutants, including nitrogen oxide, sulphur dioxide, and other particulate matter. These systems offer accurate information on pollutant concentrations, allowing plants to evaluate their adherence towards sustainability and implement the necessary mitigation measures.
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Advancement in market
• In September 2021: Emerson revealed the Rosemount XE10 Continuous Emissions Monitoring System (CEMS), intended to help industrial companies satisfy shifting sustainability requirements andincreasingly demanding environmental standards. The new system enables accurate emissions monitoring and reporting to assist plant operators in lowering the risk of non-compliance shutdowns and fines through built-in performance analytics and automatic validation capabilities.
• In April 2022: ClassNK has introduced the ClassNK ZETA (Zero Emission Transition Accelerator), a GHG emissions management solution that enables customers to track accurate CO2 emissions as well as check and simulate CII ratings.
Market Dynamics
Driver: Shift towards Green Energy
The shift towards green and sustainable energy influences the global emission monitoring systems market. Non-renewable energy resources also contribute towards air pollution, harming the earth's ecological balance. The adoption of renewable energy resources such as wind, solar, and hydropower is growing as non-renewable energy resources are depleting faster. Further, the development of electric vehicles and cleaner transportation options demands emissions monitoring to evaluate their environmental benefits. The transition to green energy is propelling the implementation of emission monitoring systems. The global trend of urbanization has resulted in higher emissions from urban transport and industrial operations. As a result, air quality issues have increased, with communities trying to achieve air quality regulations. Municipalities and local governments invest in emission monitoring systems to monitor air quality, identify pollution sources, and implement strategies to improve urban air quality, driving market growth. These factors are propelling the market growth.
Restraint: Technological Complexity
The main issue in the market for emission monitoring systems is the technological complexity associated with the product. While technological advances are a driving force in the emission monitoring systems market, these technological advancements may also be a cause of difficulty. Complex emission monitoring systems necessitate specialized technical skills, which may not be available within organizations. The intricacy of these systems can cause operational issues and necessitate constant training and assistance. Integrating Emission Monitoring Systems with existing infrastructure and processes can be difficult and time-consuming. Compatibility concerns may develop when trying to connect EMS to legacy systems or older equipment. The effectiveness of EMS and other operational systems must provide seamless integration and data flow. This factor can restrain the expansion of the global emission monitoring systems market's growth and development.
Opportunity: Technological Advancements
The ongoing technological advancements within the global emission monitoring systems industry is anticipated to have a positive impact on the market growth and development. Data analytics, advancements in sensor technology, and communication system advancements reshape the overall emission monitoring system landscape. Sensors have improved accuracy, dependability, and cost-effectiveness, allowing for real-time monitoring and data collection. Data analytics, enabled by artificial intelligence (AI) and machine learning, can efficiently handle large data sets and provide analytical insights. These technological advancements make emission monitoring systems more accessible and effective, resulting in marked growth. The global market has been transformed by integrating emission monitoring systems with the Internet of Things (IoT). Sensors and data analytics platforms linked to the Internet of Things allow for real-time monitoring and quick responses to changes in emissions. This aspect improves environmental management skills, allowing for pre-emptive emission reduction steps.
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Some of the major players operating in the emission monitoring systems market are:
• AMETEK, Inc.
• ABB Ltd
• Emerson Electric Co.
• Siemens AG
• General Electric Company
• Rockwell Automation, Inc.
• Horiba Ltd.
• Sick AG
• Thermo Fisher Scientific Inc.
• Teledyne Technologies, Inc.
• ACOEM Ecotech Pty. Ltd.
• CMC Solutions
Key Segments Cover in the Market:
By Type:
• Continuous Emission Monitoring System (CEMS)
• Predictive Emission Monitoring System (PEMS)
By Application:
• Oil & Gas
• Metals & Mining
• Power Generation
• Chemical
• Others
By Component:
• Hardware
• Software
• Services
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analysed based on value (USD Billion). All the segments have been analysed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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