Emission Monitoring System Market is estimated to be valued at US$ 6,564.0 Mn by 2030.
Emission monitoring system is a tool used to monitor flue gas for carbon monoxide, oxygen, and carbon diode to provide information for combustion control in industrial facilities. It is comprised of several components that can determine gas or particulate matter concentration or emission rate of specific pollutants. EMS software can produce results of the applicable emission limitation or standards in units. EMS is typically used in various industries such as power generation, petrochemicals, chemicals, and oil & gas.
Global Emission Monitoring System Market : Regional Insights
North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa, and Asia-Pacific comprise the global market for emission monitoring systems. To reduce excessive pollution, the Environmental Protection Agency of the United States issues various guidelines and enforces them. Due to extensive industrial development, extensive oil and gas exploration, and technological revolution, the United States and Canada play a significant role in environmental pollution. Emissions violators are subject to significant fines from government agencies.
As a result, businesses are implementing continuous emission monitoring systems to control and monitor emissions. Europe is taking tough measures to reduce carbon emissions and reduce the ever-increasing greenhouse gas emissions. It is anticipated that the emission monitoring system will expand as a result of the global adoption of the system by major automotive manufacturers and the growing concern regarding environmental degradation. Due to significant progress in India, China, Japan, and other regions, the Asia-Pacific region accounts for a significant portion of the expansion of the emission control system. Additionally, new business opportunities were created as a result of an ongoing program run by the Indian government under the "Make in India" program. In China, the public authority is pushing new activities and private
elements are effective money management attributable to the high market potential which raising the market development of the discharge checking framework. Iran, Iraq, the United Arab Emirates, Saudi Arabia, Kuwait, and other oil-rich nations are investing in the production and exploration of oil. because of the growing demand for hydrocarbons, more oil and gas, which have a negative impact on the environment, are being produced. The discharge control framework is fundamental for screen, control, also, record the information for examination.
Figure 1: Global Emission Monitoring System Market Share (%), By Region, 2022
North America also showed tremendous growth due to growing income of people in the region.
Global Emission Monitoring System Market - Impact of Coronavirus (Covid-19) Pandemic
The impact of the COVID-19 pandemic outbreak has been both positive and negative on the global emission monitoring system market. Emission monitoring system enables connectivity with the control system via standard protocols to obtain real-time process data for generating the emission estimations. With many countries choosing the nationwide lockdown policies, the market was impacted with temporary suspension in economic activities. However, emission monitoring system has helped monitoring and analyzing the environment quality efficiently. In fact, many organizations and environmental agencies have started using EMS to detect, monitor, and analyze pollution levels in the environment. The negative impact of COVID-19 is short term as more and more organizations are adopting EMS solutions.
Global Emission Monitoring System Market - Drivers:
Dependency on coal-fired power plant to generate electricity
Increasing dependency on coal-fired power plants to generate electricity is expected to drive growth of the global emission monitoring system market during the forecast period. Many countries are still highly dependent upon coal-powered plants to generate electricity. The coal-burning releases a vast number of airborne toxins such as sulfur dioxide, mercury, lead, nitrogen oxides, particulates, and other heavy metals. Extended exposure to these pollutants leads to harmful effects in health including breathing difficulties, brain damage, asthma, heart problems, cancer, and premature deaths. The emission monitoring system plays a crucial role in reducing the carbon emission since it determines the concentration of toxic gases or particulate matter released from the plant and other industrial operations. This, in turn, ensures that emission is limited to permitted standards.
Stringent emission norms to drive the market in the forecast period
Stringent emission norms enforced in Europe and North America are expected to propel the global emission monitoring system market growth over the forecast period. Many countries in developed regions such as North America and Europe have enforced stringent norms and standards in carbon emission. For instance, in September 2015, Euro 6 emission standards were introduced in Europe, which set maximum limitations on certain harmful gases and particulate matter a car is allowed limit including hydrocarbons and nitrogen oxides. Both petrol and diesel cars are required to follow these standards. Moreover, emerging economies such as India have enforced emission standards to curb air pollution from cars and light commercial vehicles. For instance, in April 2020 Bharat Stage VI standards were mandated by the government of India, which limited the emission of harmful gases such as nitrous oxide and particulate matter. Such standards have increased the demand for the emission monitoring system.
Global Emission Monitoring System Market - Opportunities:
Market players can offer novel products at competitive prices and gain a significant advantage in the market.
Asia Pacific is one of the prominent emerging regions in the world that is rapidly using coal-fired power generation. Emerging economies such as China and India are among the largest users of coal-fired power generation. This, in turn, creates lucrative opportunities for key players in the emission monitoring system market. There are various regulations enforced on the control of air pollution and are becoming more stringent every year. Market players can offer novel products at competitive prices and gain a significant advantage in the market.
Research and development activities among market players
Oil and gas industry produces a vast amount of emission of harmful gases such as methane, sulfur dioxide, and others. The emission monitoring system can gather data required of emissions where the government can regulate the release of harmful gases. Key companies can focus on these opportunities and provide unique products to gain a competitive edge in the market.
Global Emission Monitoring System market was valued at US$ xx Mn in 2022 and is forecast to reach a value of US$ xx Mn by 2030, exhibiting CAGR of xx% between 2023 and 2030.
Emission Monitoring System Market Report Coverage
|Base Year:||2022||Market Size in 2022:||US$ 3,427.2 Mn|
|Historical Data for:||2017 to 2021||Forecast Period:||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR:||8.5%||2030 Value Projection:||US$ 6,564.0 Mn|
ABB Ltd, Thermo Fisher Scientific Inc., AMETEK, Inc., Teledyne Technologies, Inc., Emerson Electric Co., Sick AG, General Electric Company, Siemens AG, Rockwell Automation, Inc., and Horiba Ltd
|Restraints & Challenges:||
Global Emission Monitoring System Market - Trends:
Hardware emission monitoring system to bring demand in the future.
Hardware emission monitoring system is expected to witness significant demand in the near future. They are used in both CEMS and PEMS to collect emissions data. PEMS is a software-based system that uses hardware components such as sensors to predict gas emissions, while CEMS functions via its hardware components. Since the majority of plants have installed continuous emission monitoring systems, the hardware system is expected to witness massive demand in the near future.
Demand of CEMS expected to boost in the near future
CEMS is typically used for collecting data related to emission levels of gases from various industries including chemicals, power generation, and oil & gas. Since regulations on emission have become stringent across various sectors, the demand for CEMS is expected to boost in the near future.
Global Emission Monitoring System Market - Restraints:
High Cost of continuous emission monitoring system to hamper the growth
High cost of continuous emission monitoring systems is expected to hamper the global emission monitoring system market growth over the forecast period. Continuous emission monitoring systems are significantly expensive in terms of procurement and deployment. It is also expensive to integrate these systems with the existing system, which poses a major challenge for the industry.
Growing focus on clean energy
Growing focus on clean energy is expected to restrain growth of the global emission monitoring system market during the forecast period. Renewable energy has gained significant traction since the turn of the century. Many countries are making significant efforts to develop sustainable, reliable, and efficient renewable energy sources such as solar power, hydropower, wind power, and bioenergy. These energy sources are deemed to replace existing conventional energy sources. As a result of this, the world needs to rapidly shift toward a low-carbon source of energy to reduce CO2 emissions. This, in turn, eliminates the requirement of an emission monitoring system.
Figure 2: Global Emission Monitoring System Market (%), By Segment, 2022
Global Emission Monitoring System Market - Segmentation:
Global Human Machine Interface market report is segmented into Technology and Industry Verticals.
Based on Technology, the market is segmented into Continuous Emission Monitoring Systems (CEMS), Predictive Emission Monitoring Systems (PEMS). Out of which, Continuous Emission Monitoring Systems (CEMS), segment is expected to dominate the global market over the forecast period.
Based on Industry Vertical, the market is segmented into Oil &Gas, Chemicals & Fertilizers, Healthcare, Pulp & Paper, Energy, Mining and Others. Out of which, energy and minig is expected to dominate the global market over the forecast period
Global Emission Monitoring System Market: Key Developments
Major market players are focusing on product launches in order to enhance their product portfolio. For Instance in 2022, ABB introduced the ACF5000 Continuous Emission Monitoring System (CEMS) solution. Dust emission, real-time measurement, remote monitoring, and data management are just a few of its advanced features.
In 2020, Teledye announced its completion of the acquisition of 3M for the gas detection business. This acquisition took place to expand the portfolio of the company.
In 2021, AMETEK reported its procurement of Spectro Logical. This procurement fortified theorganization's name in the worldwide market. Spectro Logical offers a great many items that identifies motor discharge.
In Sep 2021, Emerson released its new Rosemount XE10 Continuous Emissions Monitoring System (CEMS), designed to help industrial plants meet increasingly stringent environmental regulations and evolving sustainability demands.
Global Emission Monitoring System Market: Key Companies Insights
Global Emission Monitoring System Market is highly competitive, owing to rising launch of new technologies due to ongoing R&D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players in the Global Human Machine Interface market are ABB Ltd, Thermo Fisher Scientific Inc., AMETEK, Inc., Teledyne Technologies, Inc., Emerson Electric Co., Sick AG, General Electric Company, Siemens AG, Rockwell Automation, Inc., and Horiba Ltd
*Definition: Emission monitoring system is a tool used to monitor flue gas for carbon monoxide, oxygen, and carbon diode to provide information for combustion control in industrial facilities. It is comprised of several components that can determine gas or particulate matter concentration or emission rate of specific pollutants
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