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Emission Monitoring System Market

Emission Monitoring System Market

Emission Monitoring System Market Analysis by System Type (Continuous, Predictive Emission Monitoring System), by Offering (Hardware, Software, Service), by Industry, by Region - Global Forecast 2022-2032

Emission Monitoring System Market
FACT7255MR
  • Apr-2022
  • List of Tables : 19
  • List of Figures : 60
  • 170 Pages
  • Technology

Emission Monitoring System Outlook

The global emission monitoring system market is predicted to rise at a CAGR of 6.5% during 2022-2032. The emission monitoring system market size is estimated to reach US$ 10.7 Bn by 2032 from US$ 5.3 Bn in 2021.

The emission monitoring system market is growing due to a significant reliance on coal-fired power plants for energy generation, strict emission regulations and standards imposed by North American and European governments, and a growing need for environmental protection. Furthermore, the expanding number of coal-fired power production units in APAC is expected to fuel the demand for emission monitoring system.

For the correct performance of the installed system, an emission monitoring system necessitates a significant financial investment and constant monitoring. Aside from that, the sales of emission monitoring systems are being held back by a lack of information about the benefits of emission monitoring and apathy toward environmental improvement.

Data Points

Market Insights

Emission Monitoring System Value (2021)

US$ 5.3 Bn

Estimated Market Value (2022)

US$ 5.7 Bn

Projected Market Value (2032)

US$ 10.7 Bn

Global Market Growth Rate (2022-2032)

6.5%

Key Market Players

  • Servomex
  • Fuji Electric
  • Yokogawa Electric Corporation
  • M&C Tech Group
  • DURAG Group
  • ALS Limited
  • Thermo Fisher Scientific Inc
  • Teledyne Technologies
  • Siemens AG
  • Rockwell Automation Inc
  • Sick AG
  • Horiba
  • General Electric
  • Emerson Electric Co
  • AMETEK, Inc.
  • Opsis
  • ABB Ltd.

Impact of COVID-19 on the Emission Monitoring System Industry

As per the emission monitoring system market study, the COVID-19 pandemic has had a significant impact on major end-user industries, such as oil and gas, with oil prices plummeting.

In 2020, a big imbalance between supply and demand arose as a result of a significant drop in demand for oil and gas due to various limitations implemented by governments around the world.

The emission monitoring system is also used by the power generation, chemicals, petrochemicals, refineries, and fertiliser sectors, among others. Due to the global pandemic, several industries also saw a drop in demand which has further impacted the emission monitoring system market adoption trends.

Due to the closure of international borders, non-operational distribution methods, and many precautionary measures implemented for public health and safety, foreign trade was restricted.

From 2022 to 2032, an increase in demand from the energy and power sector, as well as the chemicals industry, is expected to boost the emission monitoring system market for these end-user industries.

Various chemical industries have been harmed by the economic downturn, border closures, travel bans, and supply chain delays caused by the coronavirus epidemic.

Due to their extensive exposure to heavily affected sectors such as oil and gas, automobile, and aerospace, product demand is declining. Wider commercial changes in the chemical industry could also stymie the demand for emission monitoring system.

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Sales Analysis of Emission Monitoring System for 2022 to 2032

“Global reliance on coal-based power plants for electricity generation are a key factor for driving the emission monitoring system growth”

The emission monitoring system market is expected to experience a rise in the growth level due to favorable key market trends. A coal-burning power plant is a thermal power plant that generates energy from coal. Mercury, lead, sulphur dioxide, nitrogen oxides, particulates, and other heavy metals are all released into the air when coal is burned. Asthma and respiratory problems, brain damage, heart problems, cancer, neurological diseases, and early mortality are all possible side effects of exposure to these contaminants.

These contaminants can harm the lungs, kidneys, respiratory, and neurological systems, among other organs. To maintain track of pollutant emission rates, some regulatory bodies have made continuous or preventive emission monitoring systems necessary.

The rapid rise of harmful contaminants is driving the emission monitoring system market adoption trends.

"The rapid rise of emission monitoring systems in APAC is transforming the industry's worldwide market outlook."

APAC is amongst the most critical areas for coal-fired power generation. China and India, for example, are among the major consumers of coal for electricity production in the Asia-Pacific area. The high usage of coal-based power plants in the APAC region is directly resulting in high demand for the emission monitoring system.

China saw the greatest increase in coal-fired power output, followed by India. China is the world's greatest coal consumer, consuming more than 70% of its electricity, according to the US Energy Information Administration.

According to India's Ministry of Power, coal-fired power generation capacity in India is predicted to increase by 22.4 percent to 238 GW by 2022. As a result, China and India's involvement in the construction of new coal-fired power plants in order to bring electrification to the developing world and secure their economies' growth are likely to create profitable prospects for the players and the emission monitoring system market.

What are the Emerging Trends in the Emission Monitoring System?

One of the primary factors driving the emission monitoring system market share is strong electricity demand and the resulting increase in air pollution output from the power generation sector.

Furthermore, the rising rate of VOC emissions from the developing oil and gas industry is expected to increase demand for emission control systems over the forecasted timeframe.

This industry's VOC emissions include air toxins or pollutants like benzene and n-hexane, which are known to cause major health problems like cancer.

An emission monitoring system not only measures and monitors emissions but also assists businesses in reporting and reducing dangerous emissions and air pollutants. Customers can also get help with custom design, installation, calibration, validation, and routine maintenance from the manufacturers.

Artificial Intelligence (AI) is being integrated by some system manufacturers to decrease the release of dangerous elements. For example, ABB Ltd. has created an empirical model based on process data to anticipate plant emission concentrations in advance, which is proving to be a key trend in the emission monitoring system market.

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What are Some of the Major Restraints Stifling Emission Monitoring System Growth?

“Owing to the emission monitoring systems are closely tied to non-renewable energy sources, the ever-increasing priority on clean energy may have an impact on adoption patterns.”

A recent emission monitoring system market analysis indicates that renewable energy is quickly overtaking fossil fuels as the fastest-growing source of electricity. Renewable energy sources such as hydropower, offshore and onshore wind, solar photovoltaic, and biomass are being developed by countries. Because of their zero-carbon emissions, these renewable energy sources are becoming more popular and impacting the sales of emission monitoring system.

According to a report published by the International Energy Agency in 2021, renewables accounted for about 29 percent of worldwide electricity output in 2020, with solar photovoltaic (PV) technology dominating.

As a result, in order to lessen CO2 emissions and pollutant emissions, the globe must quickly migrate to low-carbon fossil fuels, such as nuclear and renewable technology. However, because hydro, solar, and wind power plants produce electricity with little or no emissions, emission monitoring systems are not required.

The demand for emission monitoring systems is facing a number of technical hurdles as a result of strict regulatory regimes. Emission monitoring systems work in a variety of situations, including those that are harsh and even dangerous (dust, fog, rain, etc.). They are vulnerable to precision and performance issues in such situations.

Furthermore, they are frequently utilised in a variety of essential industries, including chemicals, petrochemicals, and oil and gas, which adds to the difficulty of providing highly accurate and trustworthy data because analysers are generally situated in difficult-to-reach locations.

This could make validation, upkeep, and upgrading of such equipment more difficult, potentially resulting in greater problems, thus negatively influencing the emission monitoring system market outlook.

Comparative View of Adjacent Emission Monitoring System

Attributes

Emission Monitoring System

Flue Gas Desulfurization System Market

Connected Mining Market

CAGR

(2022-2032)

6.5%

5.2%

13.3%

Market Value

(2026)

US$ 7.2 Bn

US$ 25 Bn

US 23.6 Bn

Growth Factor

Countries around the world rely heavily on coal-fired power plants to generate electricity which is driving the emission monitoring system market forward.

Environmental rules aimed at reducing excessive industrial sulphur dioxide emissions

Increasing IoT usage to speed the development of linked mines through the use of digital solutions

Opportunity

The rise in number of coal-based power plants in the APAC region is impacting the global emission monitoring system market outlook.

China and India are building more coal-fired power facilities which is expected to provide more opportunities to the development of flue gas desulfurization system market

In this modern era, the mining industry is quickly adopting digitalized solutions which is a prominent factor driving the connected mining market.

Key Trends

The rapidly developing influence of clean energy and renewable resources might hamper the growth of the emission monitoring system market size.

Environmental pollution is a major concern, as is the frequency of airborne diseases and the implementation of environmental laws and regulations which is leading the flue gas desulfurization system market.

Mining 4.0, which uses big data, IoT, 5G, cloud, and AI technologies to integrate operations in the mining industry, is enabled by Industry 4.0. Mining 4.0 projects across sectors are paving the path for mining to become more connected.

Energy demand in Asia Pacific is predicted to rise rapidly as a result of increased economic activity, providing an opportunity for manufacturers to expand into hitherto untouched regions. The rapid expansion of crude oil and natural gas transportation infrastructure, as well as power generation facilities, is expected to help drive regional demand for emission monitoring system.

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Segment-wise Insights

What is the Segmentation Outlook for the Emission Monitoring System?

The continuous emission monitoring system by system type is the top segment of the emission monitoring system market during the forecast period, rising rapidly at a CAGR of 8.8% from 2022 to 2032.

Steel CEMS collects data on gas emission levels from a variety of industries, including power generating, oil and gas, chemicals, and waste incineration. Furthermore, growth in the number of severe pollution monitoring standards and regulations across industries is likely to drive demand for continuous emission monitoring system.

In terms of end-use segmentation, the petrochemicals segment's emission monitoring systems market is expected to rise rapidly through 2027. This is due to a heavy reliance on fossil fuels and feedstocks, which are major producers of CO2.

People living near petrochemical complexes are becoming increasingly concerned about the detrimental effects of air pollutants, which is projected to fuel emission monitoring system sectoral expansion in the coming years.

Chemicals, petrochemicals, refineries and fertilizers, oil & gas, power plant & consumption, and others are the emission monitoring system industry segments that make up the market.

The oil & gas industry has a sizable share of the market. It is maintained by the emission monitoring system due to the limited rates imposed by the authorities to control pollution. The demand for the oil & gas segment in the market is growing due to the expansion of crude oil and natural gas infrastructure around the world, as well as various power generation facilities.

Which Segment is Likely to Lead the Emission Monitoring System by Component?

The market for emission monitoring systems can be divided into three categories based on the component: hardware, software, and service.

Gas sensors, sample probes, opacity and flow monitors, enclosures, hardware mounts, gas analyzers, workstations, and data gathering systems are all included in the hardware category.

The type of emission monitoring system determines the hardware components that are required. In comparison to the software-based predictive emission monitoring system, continuous emission monitoring system are heavily reliant on hardware for operations.

Region-wise Outlook

What is the Regional Demand Analysis in the Emission Monitoring System?

During the forecast period, APAC is expected to hold the highest share of the emission monitoring system market. China and India are the two largest contributors to APAC's emission monitoring system industry growth. It can also be ascribed to the region's developing power generation and chemicals sectors, both of which are major users of pollution monitoring systems. Furthermore, the growing capacity of coal-fired power plants is a contributing factor to the increased demand for emission monitoring systems.

Regions

CAGR (2022-2032)

US Market

5.8%

UK Market

5.4%

China Market

6.9%

Japan Market

8.7%

India Market

8.3%

By 2027, North America is expected to be a lucrative revenue source for the emission monitoring systems business. The escalating implications of climate change, as well as agreements reached between regulatory agencies and manufacturers to control GHG emissions in the region, should be credited for this.

California's regulatory board said in 2020 that it has signed agreements with automakers such as BMW and Ford Motor, committing them to state regulatory criteria for pollution reduction through 2026.

Competitive Landscape

Owing to many competitors in the industry selling their products both domestically and internationally, the emission monitoring systems market is quite competitive.

The demand for emission monitoring system appears to be moderately concentrated, with big firms using methods including product innovation, mergers and acquisitions, and strategic partnerships to stay competitive and expand their global emission monitoring system reach.

Recent Developments in the Emission Monitoring System:

  • ENVEA will launch Mercury CEMS in October 2021. (SM-5). It enables the monitoring of very low mercury contents in flue gas emissions in a continuous, accurate, and reliable manner.
  • Emerson will release the Rosemount XE10 CEMS in September 2021. It is intended to assist industrial units in complying with increasingly stringent environmental requirements as well as growing sustainability demands.
  • Baker Hughes launched System 1 Predictive Emission Monitoring System (PEMS) in February 2020, which forecasts the amount of stack emissions produced by combustion equipment based on ambient circumstances, fuel mix, and machine operating parameters.

Key Segments

  • By System Type:

    • Continuous Emission Monitoring System
    • Predictive Emission Monitoring System
  • By Offering:

    • Hardware
    • Software
    • Service
  • By Industry:

    • Power Generation
    • Oil & Gas
    • Chemicals
    • Petrochemicals
    • Refineries, & Fertilizers
    • Building Materials
    • Pulp & Paper
    • Pharmaceuticals
    • Metals
    • Mining
    • Marine & Shipping
    • Waste Incineration)
  • By Region:

    • North America
      • US
      • Canada
      • Mexico
    • Europe
      • Germany
      • UK
      • France
      • Rest of Europe
    • Asia Pacific (APAC)
      • China
      • Japan
      • India
      • South Korea
      • Rest of APAC
    • Rest of the World (RoW)
      • Middle East
      • Africa
      • South America

- FAQs -

The emission monitoring system is projected to rise at a CAGR of 6.5% during the projected period.
The global emission monitoring system was valued at US$ 5.3 Bn in 2021.
The global emission monitoring system is likely to be worth nearly US$ 10.7 Bn by 2032.
In 2021, APAC had the greatest share of the emission monitoring system market. Growing power generating and chemical industries, which are major consumers of pollution monitoring systems, account for the share.
With a CAGR of 8.8%, the continuous emission monitoring system dominates the emission monitoring system market during the forecast period.

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