Press release
Emission Monitoring Systems Market: Savvy Players Resort to Mergers and Acquisitions to Consolidate Position
Prominent names in the global emission monitoring systems market include ABB Ltd., Sick AG, Emerson Electric Co., Teledyne Technologies Inc., Babcock & Wilcox Enterprises Inc., Siemens AG, Durag Group, and AMETEK Inc.
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According to estimates of a TMR report, the global emission monitoring systems market will expand at a CAGR of 7.5% over the forecast period between 2017 and 2025. Rising at this rate, the market which was worth US$3997.8 mn in 2017 will become US$7, 1187 mn by 2025-end. By technology, continuous emission monitoring held the leading close to 88.3% market share in 2017. Continuous emission monitoring technology has received accreditation from several regulatory agencies, such as the U.S. Environmental Protection Agency and Central Pollution Control Board in India.
Mounting Pressure from Global Environmental Agencies to Curb Emissions Boosts Deployment
Across the world, environmental regulations to protect the environment from degradation have been the focus of global environmental agencies. Several governments have also undertaken initiatives to curb emissions be it from industrial, commercial, or residential activities. This requires industrial units, power generating units, transportation, and other commercial activities to adhere to emission compliances to safeguard the environment. As a result, the deployment of emission monitoring systems is gaining momentum to monitor if businesses are adhering to permissible level of emissions. The primary objective of emission monitoring systems is to measure the amount of several gases in the air. These gases include nitrogen, carbon dioxide, carbon monoxide, sulfur dioxide, mercury, and total or hexavalent chromium.
The continued burning of coal for energy needs, especially in developing countries such as China and India has necessitated the installation of emission monitoring systems. As per the new Environmental Protection Law (EPL) in China, all coal-fired industrial units will need to comply with stipulated measures to monitor and control their emissions. Such initiatives are likely to stoke the demand for emission monitoring systems.
Apart from this, rising awareness among public welfare organizations to control pollution for its hazardous effect on human health has also prompted greener initiatives. This is boosting the installation of emission monitoring systems that helps measure air quality index.
High Installation and Maintenance Costs Limits Adoption
On the flip side, the growth of emission monitoring systems market is challenged due to several factors. The high cost of installation of these systems and investments involved to train personnel to operate them is a roadblock to the market’s growth. Furthermore, high cost involved in maintenance of these systems is also likely to dissuade growth. Nonetheless, relentless efforts of governments worldwide to mitigate escalating pollution is likely open a plethora of opportunities for the emission monitoring systems market.
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The review presented here 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.”
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