Emission Control Systems Market To Witness A CAGR Of 5% Between 2021-2031

Global sales of emission control systems are expected to increase 4.2% in 2021 at just over 5,000 thousand units. Standards promulgated from EPA for regulating emissions produced from industries, as well as the Clean Air Act, have been instrumental in market development. A more critical factor driving the sales of emission control systems is the mandatory inclusion of these devices into systems, processes, and automobiles. Other demand drivers include the upsurge in industrialization and rising concerns to mitigate hazards posed by emission on humans and the environment. While measures are laid to ensure personnel and environment safety, emission control systems are cited as viable candidates to potentially reduce urban pollution. Persistence Market Research’s analysis projects the global emission control systems to expand at an impressive CAGR of more than 5% over the forecast period of 2021-2031.

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Augmented reality solutions are being asked for IoT functionality is capable of tracking and evaluating production quotas, expanding control rooms, and creating various models related to predictive maintenance. Industry 4.0 workforce would, indeed, be complementing robotics. Persistence Market Research is endowed with expertise herein in the form of consultants and analysts.

Key Takeaways from Market Study
• Around the world, a number of businesses have sought to estimate the industry's potential impacts on climate-related issues. On similar developments, North America remains to be the most lucrative market for emission control systems, followed by Europe.
• Since manufactures are striving to deliver air treatment solutions to aftermarket buyers, retrofit installations are multiplying in number as compared to new installation of emission control systems.
• The U.S. is positioned as the top nation in the global market with the highest market value share. Demand in the U.S. will increase at over 5% CAGR over the next ten years.
• In 2021, the market in Germany grew 8% year-on-year, while in Japan it grew 5% year-on-year.
• Electrostatic precipitators are poised for lucrative growth over the forecast period at a higher CAGR as compared to other emission control devices.
• On-road vehicles and power generation plants will continue to be major consumers of emission control systems. The market for on-road vehicles is expected to create an absolute dollar opportunity of US$ 5.1 Bn from 2021-2031. The market for power generation plants is expected to create an absolute dollar opportunity of US$D 2 Bn in the same time period.

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Automobile Sales to Favor Market Growth
Automobile sales have been expanding at a rapid pace in recent years. Despite economic instabilities induced by the coronavirus pandemic, over 95 million vehicles were produced in 2016 and around 78 million vehicles were sold in 2020.
Over the projection period, worldwide vehicle sales are expected to rise due to increasing population and rising disposable income. Automobile manufacturers are adopting various types of pollution control systems in order to limit vehicle emissions and cater to a consumer base that is progressively migrating toward eco-friendly products.

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This release was published on openPR.