Research Nester published a report titled “Emission Monitoring Systems Market – Global Demand Analysis and Opportunity Outlook 2030” which delivers a detailed overview of the global emission monitoring systems market in terms of market segmentation by technology type, component type, end-user industries, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The market for emission monitoring systems is anticipated to record a CAGR ~9% over the forecast period; i.e., 2021-2030. The major factors fostering the growth of the market are rising investments by various regulatory bodies for lowering environmental pollution, along with the increasing concern for health diseases associated with air pollution. Further, increasing industrialization, coupled with the growing utilization of emission analytics solutions in order to monitor emissions from the manufacturing sector are some of the additional factors anticipated to drive the market growth during the forecast period.
Based on technology type, the market is segmented into predictive emission monitoring system (PEMS) and continuous emission monitoring system (CEMS). Out of these segments, the continuous emission monitoring system (CEMS) segment is anticipated to witness the largest market share over the forecast period owing to the ability of the system to monitor emission levels continuously, and for the presence of numerous sensors that allow to monitor the levels of nitrogen oxides, sulfur dioxide, carbon monoxide, airborne particulate matter, volatile organic compounds, mercury, oxygen, and others.
Based on the regional analysis, the market for emission monitoring systems is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The emission monitoring systems market in North America is estimated to hold the largest market share over the forecast period on account of the growing initiatives from regulatory bodies, such as the U.S. Environmental Protection Agency (EPA), for the reduction of greenhouse gas emissions along with the focus on the protection of public health.
Increasing Burden on the Economy Caused Due to Air Pollution to Drive the Market Growth
Air pollution is known to cause several cardiovascular diseases. In one of the statistics by the World Bank, the cost associated with the health damage from ambient air pollution is equivalent to around 4.8% of the GDP of the world. Further, the economic burden of pollution associated with premature mortality and morbidity in individual countries worldwide is equivalent to 5 to 14% of the countries’ GDPs. Backed by the rising concerns for such increasing burden, the regulatory bodies worldwide are working on enforcing stringent regulations to curb air pollution. Industries are being asked to deploy monitoring systems to analyse and lower their emissions, which is also raising the need to deploy emission monitoring systems. Moreover, increasing availability of advanced monitoring systems is also anticipated to drive the demand for such systems, and in turn drive the market growth.
However, the high cost of these systems in addition to its high maintenance cost coupled with the lack of awareness among users regarding the advantages of such systems is expected to operate as key restraint into the growth of emission monitoring systems market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global emission monitoring systems market which includes company profiling of ACOEM Ecotech Pty. Ltd., CMC Solutions, LLC, AMETEK, Inc., Emerson Electric Co., Thermo Fisher Scientific Inc., Siemens, Enviro Technology Services Ltd, ABB, Rockwell Automation, Inc., SICK AG, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global emission monitoring systems market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.