Emission Monitoring Systems Market by System Type (CEMS, PEMS), Offering (Hardware, Software, Services), Industry (Power Plants & Combustion, Oil & Gas, Chemicals, Petrochemicals, Refineries, & Fertilizers), and Region - Global Forecast to 2025
“Emission monitoring systems market expected to exhibit a significant growth between 2018 and 2025”
The emission monitoring systems market was valued at USD 2.39 billion in 2018 and is expected to reach USD 4.44 billion by 2025, at a CAGR of 9.3% between 2018 and 2025. Key factors driving the growth of the market include stringent legal and environmental regulations, increased awareness about environmental protection, increasing health and safety issues, and growing use of oil & gas and petrochemicals. However, the high cost of maintenance of CEMS and fragmented market with many specialist suppliers are key restraining factors for the market growth.
“PEMS market to exhibit high growth potential during the forecast period”
The PEMS market is expected to grow at the highest CAGR between 2018 and 2025. Key driving factors for the growth of the PEMS market are that it is a cost-effective reliable system and incurs lower operational and maintenance costs compared with CEMS. PEMS does not require on-site emergency services.
“Emission monitoring systems market for services expected to grow at the highest CAGR during the forecast period“
The emission monitoring systems market for services is estimated to grow at the highest CAGR between 2018 and 2025. Services such as installation, maintenance, and training are required after the purchase of CEMS and PEMS. Furthermore, the continuous development of hardware and software leads to the requirement of training and upgrade of the system.
“APAC to be the fastest-growing market for emission monitoring systems during the forecast period”
The market in the APAC is expected to grow at the highest CAGR between 2018 and 2023. The growth is attributed to huge industrial sector and strict emission regulations imposed by the government of China. Furthermore, India is the fastest-growing country in APAC, focuses on addressing environmental issues and improving its environmental policies. Various exhibitions such as Fugitive Emissions Summit China 2018, Argus Ethanol China 2018, Argus China and Global Oil 2018, and CIEPEC 2017 (15th China International Environmental Protection Exhibition & Conference) aim at integrating the community of end users, distributors, manufacturers, and suppliers.
Break-up of profile of primary participants for the report as given below:
By Company Type – Tier 1 – 48%, Tier 2 – 34%, and Tier 3 – 18%
By Designation – C level – 47%, Director level – 32%, and Manager level – 21%
By Region –North America - 31%, Europe – 22%, APAC – 42%, RoW – 5%
Key players in the market include ABB (Switzerland), AMETEK (US), Emerson (US), General Electric (US), Siemens (Germany), Parker Hannifin (US), Rockwell Automation (US), SICK (Germany), Teledyne Technologies (US), and Thermo Fisher (US).
This global emission monitoring systems market is categorized on the basis of system type, offering, industry, and region. The EMS market is divided into two system types, namely, continuous emission monitoring system (CEMS) and predictive emissions monitoring systems (PEMS). The emission monitoring systems market on the basis of offerings has been split into hardware, software, and services. The industries that are included in study include power plants & combustion, oil & gas, chemicals, petrochemicals, refineries, & fertilizers, building materials, pulp & paper, pharmaceuticals, metal, mining, marine & shipping, and waste incineration. Furthermore, the emission monitoring systems market has been divided into four regions, namely, North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW).
Reasons to buy the report:
Illustrative segmentation, analysis, and forecast for markets based on system type, offering, industry, and region has been conducted to give an overall view of emission monitoring systems market.
The value chain analysis has been performed to provide an in-depth insight into the emission monitoring systems market.
Major drivers, restraints, opportunities, and challenges for the emission monitoring systems market have been detailed in this report.
The report includes a detailed competitive landscape along with key players, in-depth analysis, and revenue of key players.