Global Emission Monitoring System Market
Global Emission Monitoring System Market Size Steadily Expands at CAGR of 4.83% to Reach USD 3.84 Billion by 2030
Published | 12 February 2024
Global Emission Monitoring System Market is flourishing due to a spurring demand for the systems to measure, oversee, and help organizations in reporting and mitigating hazardous emissions and air pollutants, growing awareness about environmental protection, and increasing health and safety concerns.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Emission Monitoring System Market size at USD 2.76 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Emission Monitoring System Market size to expand at a CAGR of 4.83% reaching a value of USD 3.84 billion by 2030. The Global Emission Monitoring System Market is propelled by an increasing rate of Volatile Organic Compound (VOC) emissions from the evolving oil & gas sector. In the oil & gas sector, VOC emissions include hazardous air pollutants like benzene and n-hexane, known to cause severe health issues, including cancer. Emission monitoring systems not only measure and oversee emissions but also assist businesses in reporting and mitigating hazardous emissions and air pollutants. Manufacturers provide support with custom design, installation, calibration, validation, and routine maintenance to their customers. Furthermore, to enhance environmental impact mitigation, a few system manufacturers are integrating Artificial Intelligence (AI). For instance, ABB Ltd has developed an empirical model based on process data to predict plant emission concentrations in advance. The AI integration represents a significant trend in the Global Emission Monitoring System Market.
Opportunities – Exploration of research and development initiatives
The oil & gas sector emits a substantial amount of harmful gases including methane and sulphur dioxide. The implementation of emission monitoring systems facilitates the collection of crucial emission data, enabling government regulation of harmful gas releases. Key industry players can concentrate on these developments, offering distinctive products to establish a competitive advantage in the market.
Impact of Geopolitical Tensions on Global Emission Monitoring System Market
Escalating geopolitical tensions have a significant impact on the Global Emission Monitoring System Market, as the world's transition to a low-carbon economy faces challenges stemming from disruptions in technology transfer, supply chain, and energy transmission. The impact of the Russia's war on Ukraine and the subsequent energy crisis have created a complex geopolitical landscape, shaping the trajectory of decarbonization efforts. Consequently, further escalation and spreading of geopolitical tensions could affect the growth of Global Emission Monitoring System Market.
Global Emission Monitoring System Market
Global Emission Monitoring System Market – By End User
By end user, the Global Emission Monitoring System Market is divided into Oil & Gas, Metals & Mining, Power Generation, Chemical & Fertilizer, Pulp & Paper, and Pharmaceutical segments. The oil & gas segment holds the highest share in the Global Emission Monitoring System Market by end user. Oil & gas companies employ Emission Monitoring Systems (EMS) to comply with regulations, highlight environmental responsibility, reduce costs, and optimize operations. EMSs play a pivotal role in ensuring environmental compliance and minimizing the impact of operations. Utilizing various technologies, one primary application is the measurement and control of the emission of greenhouse gases, including CO2, CH4, and VOCs. EMS enables accurate tracking, quantification of emissions, identification of pollutant sources, and implementation of targeted reduction measures.
Global Emission Monitoring System Market – By Region
The in-depth research report on the Global Emission Monitoring System Market covers the market in a number of major countries across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The Asia Pacific region holds the highest share in the Global Emission Monitoring System Market and is expected to maintain its dominance over the forecast period. The most populous region in the world houses numerous coal-powered and power generation companies, particularly in countries like China and India, where power is predominantly generated through coal. The coal-powered industries serve as significant end users of EMSs, given their substantial emissions of particulate matter and dust. Meanwhile, Europe is expected to witness the fastest growth rate over the forecast period. Europe stands as a major IT vendor and a primary manufacturing hub, fostering the establishment of factories and data center facilities. The expanding construction activities and escalating power consumption in these regions present lucrative growth opportunities for the players in the Global Emission Monitoring System Market. Stringent regulations from the Chinese and Indian governments have compelled market players in these countries to integrate EMSs in their plants. Also, the rising environmental pollution and deteriorating air quality in developing regions contribute to the overall expansion of the Global Emission Monitoring System Market.
The Global Emission Monitoring System Market is fragmented, with numerous players serving the market. The key players dominating the Global Emission Monitoring System Market include ABB Ltd, Ametek, Inc., Emerson Electric Company, General Electric Company, Enviro Technology Services Plc, Horiba Ltd, Fuji Electric Co., Ltd, Rockwell Automation, Inc., Siemens AG, and Thermo Fisher Scientific Inc. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the Global Emission Monitoring System Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Emission Monitoring System Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides all-inclusive Market Intelligence (MI) Solutions to businesses regarding various products and services online & offline. We offer comprehensive market research reports by analyzing qualitative and quantitative data to boost your business solution's performance. BlueWeave has built its reputation by delivering quality inputs and nourishing long-lasting relationships with its clients. We are a promising digital MI solutions company providing agile assistance to make your business endeavors successful.
BlueWeave Consulting & Research Pvt Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662
- Emission Monitoring System Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2030, Segmented By Component (Hardware, Services); By System Type (Continuous Emission Monitoring System, Predictive Emission Monitoring System); By End User (Oil & Gas, Metals & Mining, Power Generation, Chemical & Fertilizer, Pulp & Paper, Pharmaceutical); By Region (North America, Europe, Asia Pacific (APAC), Latin America (LATAM), Middle East and Africa (MEA))
Publish Date: February 2024
An increasingly high demand for the systems to measure, oversee, and help organizations, particularly in the oil & gas sector, in reporting and mitigating hazardous emissions and air pollutants, growing awareness about environmental protection, and increasing health and safety concerns are expected to drive the Global Emission Monitoring System Market during the forecast period between 2024 and 2030.
Relevant Press Releases
- Global Process Analyzer Market Poised for Modest Growth: Projected to Grow at a CAGR of 3.4% by 2027
- Global Automatic Liquid Filling Machines Market Size Set to Grow at Steady CAGR of 7.2% to Reach USD 4.2 Billion by 2029
- Global Accounts Receivable Automation Market Witnessing Massive Growth: Expected to Grow at a CAGR of 12.2% by 2027
- Global Robot Operating System Market Thriving: Likely to Grow at a CAGR of 9.4% During the Forecast Period
- India Precision Ball Bearings Market Size More Than Doubles to Touch USD 4 Billion by 2029