The global emission monitoring system market is predicted to rise at a CAGR of 6.5% during 2022-2032. The emission monitoring system market size is estimated to reach US$ 10.7 Bn by 2032 from US$ 5.3 Bn in 2021.
The emission monitoring system market is growing due to a significant reliance on coal-fired power plants for energy generation, strict emission regulations and standards imposed by North American and European governments, and a growing need for environmental protection. Furthermore, the expanding number of coal-fired power production units in APAC is expected to fuel the demand for emission monitoring system.
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Owing to many competitors in the industry selling their products both domestically and internationally, the emission monitoring systems market is quite competitive.
The demand for emission monitoring system appears to be moderately concentrated, with big firms using methods including product innovation, mergers and acquisitions, and strategic partnerships to stay competitive and expand their global emission monitoring system reach.
Recent Developments in the Emission Monitoring System:
- ENVEA will launch Mercury CEMS in October 2021. (SM-5). It enables the monitoring of very low mercury contents in flue gas emissions in a continuous, accurate, and reliable manner.
- Emerson will release the Rosemount XE10 CEMS in September 2021. It is intended to assist industrial units in complying with increasingly stringent environmental requirements as well as growing sustainability demands.
- Baker Hughes launched System 1 Predictive Emission Monitoring System (PEMS) in February 2020, which forecasts the amount of stack emissions produced by combustion equipment based on ambient circumstances, fuel mix, and machine operating parameters.
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By System Type:
- Continuous Emission Monitoring System
- Predictive Emission Monitoring System
- Power Generation
- Oil & Gas
- Refineries, & Fertilizers
- Building Materials
- Pulp & Paper
- Marine & Shipping
- Waste Incineration)
- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of APAC
- Rest of the World (RoW)
- Middle East
- South America
- North America
Comparative View of Adjacent Emission Monitoring System
|Attributes||Emission Monitoring System||Flue Gas Desulfurization System Market||Connected Mining Market|
|US$ 7.2 Bn||US$ 25 Bn||US 23.6 Bn|
|Growth Factor||Countries around the world rely heavily on coal-fired power plants to generate electricity which is driving the emission monitoring system market forward.||Environmental rules aimed at reducing excessive industrial sulphur dioxide emissions||Increasing IoT usage to speed the development of linked mines through the use of digital solutions|
|Opportunity||The rise in number of coal-based power plants in the APAC region is impacting the global emission monitoring system market outlook.||China and India are building more coal-fired power facilities which is expected to provide more opportunities to the development of flue gas desulfurization system market||In this modern era, the mining industry is quickly adopting digitalized solutions which is a prominent factor driving the connected mining market.|
|Key Trends||The rapidly developing influence of clean energy and renewable resources might hamper the growth of the emission monitoring system market size.||Environmental pollution is a major concern, as is the frequency of airborne diseases and the implementation of environmental laws and regulations which is leading the flue gas desulfurization system market.||Mining 4.0, which uses big data, IoT, 5G, cloud, and AI technologies to integrate operations in the mining industry, is enabled by Industry 4.0. Mining 4.0 projects across sectors are paving the path for mining to become more connected.|
Energy demand in Asia Pacific is predicted to rise rapidly as a result of increased economic activity, providing an opportunity for manufacturers to expand into hitherto untouched regions. The rapid expansion of crude oil and natural gas transportation infrastructure, as well as power generation facilities, is expected to help drive regional demand for emission monitoring system.
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