Emission Monitoring Systems Market Worth 4.44 Billion USD by 2025
PUNE, India, May 28, 2018 /PRNewswire/ --
According to the new market research report "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", published by MarketsandMarkets™, the market is estimated to reach USD 4.44 Billion by 2025 from USD 2.39 Billion in 2018, at a CAGR of 9.3% between 2018 and 2025. Factors that are driving the emission monitoring systems 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.
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"CEMS expected to lead the emission monitoring systems market between 2018 and 2025"
Standards related to emissions set by various government organizations, such as United States Environmental Protection Agency (US EPA), enforced companies to adopt emission monitoring systems to track levels of emissions. CEMS is used in industries where continuous monitoring of emissions is mandatory. CEMSs consist of gas analyzers, gas sampling systems, temperature, flow, and opacity monitors, and data acquisition systems. CEMS demonstrates the environmental regulatory compliance of air pollutants that are emitted from industrial sources.
"Hardware expected to lead the emission monitoring systems market"
Hardware plays a vital role in an emission monitoring system for collecting data. The importance of hardware is determined by the type of emission monitoring system. For instance, CEMS has more dependency on hardware for operations, whereas PEMS is a software-based system and uses hardware components for analyzing pressure, temperature, and other parameters. Primary hardware components include gas analyzer, gas sampling system, flow and opacity monitor, sample probe, sample line, data controller, and filter.
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"Oil & gas industry expected to grow at the highest CAGR between 2018 and 2025 in the emission monitoring systems market"
Various gases emitted during the extraction of oil & gas are hazardous and dangerous to the environment. Emission monitoring systems are used in the oil & gas industry to minimize emissions and measure them continuously. In the oil & gas industry, emission monitoring systems are used to gather data required for reporting emissions to government authorities. The authorities have issued guidelines and regulations to estimate and control emissions.
"APAC expected to be the largest market for emission monitoring systems during the forecast period"
APAC is expected to lead the emission monitoring systems market between 2018 and 2025. The growth is attributed to the rapid industrialization in China and India is expected to fuel the emission monitoring systems market in APAC. The rising concerns related to the air quality in China is also a major factor driving the adoption of emission monitoring systems. The growth of manufacturing and processing industries under the "Make in India" program is expected to fuel the adoption of emission monitoring systems in India.
Major players involved in the emission monitoring systems 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).
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