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Albany, New York, July 11, 2019 (GLOBE NEWSWIRE) -- The forecast report by Transparency Market Research (TMR) reveals that the global emission monitoring system market is expected to witness a substantial growth in the market during the forecast period 2017 to 2025. The market is expected to grow at a CAGR of 7.5% during the projected years.
The global emission monitoring system market is projected to reach up to estimated revenue of US$7.1187 mn by the end of 2025. In terms of segmentation, the global emission marketing system is divided into hardware and software. The hardware segment is anticipated to hold a larger market share over the forecast period, owing to the growth of the global emission monitoring system market. The hardware segment comprises of components such as flow monitors, gas analyzers, enclosures, data collection system, etc. CEMS (Continuous Emission Monitoring System) consists of all the required hardware components to determine the emission rate.
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The report further talks about the prominent players involved in the global emission monitoring system market. The key players operating in the emission monitoring system market include Siemens, Rockwell Automation, ABB Ltd., Emerson Electric Company, and Fuji Electric Co., Ltd. The companies are investing heavily in research and development to introduced innovative products to position themselves in the global arena of emission monitoring systems market in the succeeding years.
Stringent Regulations to Drive Global Emission Monitoring System Market
The rising concern over harmful emission is leading government bodies and other pollution control authorities to take necessary steps towards emission monitoring. These regulatory bodies are insisting the industries to comply with certain industrial regulations such as a constant check on the air pollution using emission monitoring system. The emission monitoring system helps in track the emission data for pollutants such as Sulfur dioxide (SO2), Ammonia (NH3), Nitrogen dioxide (NOx), Carbon Dioxide (CO2), Carbon Monoxide (CO), and others.
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Additionally, the increasing emission from industries such as oil and gas, metals and mining, and power generation has led the government to adopt stringent measures. This is to ensure the emission within specified limits and the companies submit emission reports to the government by constant check on the emission levels. This is expected to push the global emission monitoring system market to expand in the upcoming years.
Furthermore, rapid industrialization in developing economies and increasing focus to enhance operational excellence in industrial sectors by keeping a quality check on emissions are anticipated to drive the global emission monitoring system market.
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A large share of demand is expected from end user industries such as paper and pulp, material building, power plants, mining, oil and gas, waste incineration sectors. The increasing demand is expected to drive the growth of the global emission monitoring system market in the upcoming years.
High costs associated with CEMS (Continuous Emission Monitoring System) hinders the growth during the forecast period. Nevertheless, rising concerns over health and safety factors are projected to expand the global emission monitoring system market.
Asia Pacific to Fuel Growth in the Global Emission System Market
The report provides detailed insights on the geographical analysis of the global emission monitoring system market in the near future. The market is spread across five key regions Latin America, South America, Europe, Asia Pacific, and Middle East and Africa. Of these, the Asia Pacific is expected to dominate the global emission monitoring systems market. The swift industrialization and the phenomenal growth of oil and gas industry along with automotive industry are projected to surge the growth in the emission monitoring systems market. China and India are expected to propel the growth over the forecast period.
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This review is based on the findings of a TMR report titled, “Emission Monitoring Systems Market (Technology - Predictive Emission Monitoring Systems, Continuous Emission Monitoring Systems; Industry Verticals - Oil & Gas, Chemicals and Fertilizers, Cement, Pulp & Paper, Energy and Power, Mining, Electronics, Food and Beverage, and Healthcare)) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.”
The global emission monitoring system market is segmented into:
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