The global Emission Monitoring Systems Market size is expected to reach USD 4.43 billion by 2025, expanding at a CAGR of 8.6% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Increased deployment and usage in oil and gas, power generation, and metals and mining industries in emerging economies such as China and India are expected to drive the growth.
Emission
Monitoring Systems (EMS) have enabled companies to accurately detect, report,
and reduce the concentration of harmful gases and improve air quality. The
deployment of EMS has also helped regulatory agencies and departments to
efficiently monitor emissions from various industries such as oil and gas,
metals and mining, and chemical and fertilizer. Technological advancements such
as predictive analytics and the development of sensitive and advanced sensors
have significantly contributed to the growth of the emission monitoring systems
market.
Recognizing
the negative consequences of harmful gases into the atmosphere, governments
across the globe have taken major steps to monitor and reduce emission levels.
Changing regulatory framework, stringent emission standards, and improvement in
the data reporting process are also some of the significant factors driving the
market growth. Apart from these, growing investment in environmental
management, along with personnel health protection are promoting the adoption
of EMS.
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Further key findings from the study suggest:
- CEMS segment
is expected to expand at the highest CAGR of 8.7% over the forecast period
owing to increased adoption of these systems in oil and gas upstream and
downstream
- Development
of PEMS capable of higher accuracy in emission detection is further
expected to drive the demand and adoption of the systems by major
companies in oil and gas, power generation, and chemical and fertilizer
industries
- Hardware
segment presently leads the emission monitoring systems market and is also
anticipated to be the fastest growing segment over the forecast period.
Stringent government regulations and air quality standards by the
Environmental Protection Agency (EPA) and European Committee for
Standardization of emission monitoring are expected to have a positive
influence on growth in U.S. and Europe, respectively
- Asia Pacific
is expected to register the highest CAGR from 2019 to 2025 due to the establishment
of new refineries and capacity enhancement of existing refineries to meet
the rapidly growing crude oil consumption
- The key
industry players include Ametek, Inc.; ABB Ltd.; Emerson Electric Company;
General Electric Company; Horiba Ltd.; Enviro Technology Services Plc.;
Fuji Electric Co., Ltd.; Siemens AG; Thermo Fisher Scientific Inc.; and
Rockwell Automation, Inc.; among others.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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