Press release
Emission Monitoring Systems Market: USD 4.8 Billion Valuation in 2023 with a 7.7% CAGR Through 2034
Emission Monitoring Systems
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Analyst Viewpoint
The rise in pollution levels due to rapid urbanization and industrialization is a significant driver of the emission monitoring systems market. Real-time data and insights enable businesses to reduce carbon emissions and adhere to strict regulatory standards set by governments to meet international climate goals. Continuous innovation in clean technologies, such as cloud-based data management systems, artificial intelligence, and advanced sensors, is further propelling market growth by facilitating predictive emission control and ensuring reliable compliance.
Prominent manufacturers are collaborating with other key players to expand their product portfolios. They are also developing more sensitive and portable monitoring devices with remote capabilities to meet the increasing demand from sectors such as oil & gas, mining, and energy production.
Market Introduction
Emission monitoring systems are technologies used to monitor and compute emissions of pollutants from various industrial sources, including power plants, mines, manufacturing hubs, and vehicles. These systems are crucial for reducing environmental degradation and ensuring compliance with government regulations in sectors such as oil & gas, transportation, energy production, and waste management.
Industrial emission sensors can precisely quantify pollutants such as carbon dioxide, particulate matter, and volatile organic compounds. The collected data helps corporations identify areas for improvement in their supply chains and industrial processes, making them more sustainable and compliant with emission limits. Early detection of emission issues, enhanced public health outcomes, and minimized air pollution impact are some of the key benefits of air quality monitoring systems.
Manufacturers are focusing on integrating advanced technologies like blockchain, artificial intelligence, and cloud storage for predictive monitoring, remote monitoring, and advanced data management solutions.
Market Drivers
Rise in Pollution Levels
The increasing pollution levels globally, driven by factors such as vehicle emissions, deforestation, rapid urbanization, and industrialization, are fueling the demand for emission monitoring systems. The combustion of fossil fuels releases pollutants like nitrogen oxide, carbon dioxide, sulfur dioxide, and particulate matter into the atmosphere, accelerating climate change and global warming.
Advancements in Clean Technologies
Innovations and investments in clean technologies, including emission control technologies, have improved the precision and monitoring capabilities of devices. Advanced sensors and Internet of Things (IoT) enable real-time monitoring of pollutants with enhanced sensitivity and accuracy. Adoption of cloud-based platforms and machine learning algorithms for emission forecasting and data management is also driving market growth.
For example, the U.S. spent approximately US$ 213 billion on clean energy and emerging technology investments in the financial year 2022-23, with a significant portion allocated to carbon management research and development.
Regional Outlook
Leading Region: Asia Pacific
Asia Pacific held the largest market share in 2023 due to rapid industrialization in countries like China, India, and Korea. Government focus on promoting cleaner technologies and increased awareness of corporate emissions risks are fostering market growth in the region. For instance, China invested over US$ 890 billion in clean energy and technology in 2023.
The Middle East & Africa region is also expected to witness steady growth, driven by increased investments in predictive emission monitoring and growth in oil & gas projects.
Key Players and Competitive Landscape
Prominent vendors in the emission monitoring systems market are investing significantly in developing air emission measurement tools and advanced emission monitoring systems for industrial compliance. Strategic collaborations, mergers, and acquisitions are key tactics used by companies to maintain a competitive edge.
Major Companies:
ABB
Babcock & Wilcox Enterprises Inc.
Sick AG
Siemens
Emerson Electric Co.
AMETEK, Inc.
Durag Group
Teledyne Technologies Inc.
Rockwell Automation
General Electric Company
Opsis AB
Thermo Fisher Scientific Inc.
Beijing SDL Technology Co., Ltd.
ALS
Hannifin Corp
Buhler Technologies GmbH
M&C TechGroup
Horiba
Yokogawa Electric Corporation
Fuji Electric Co. Ltd.
Servomex
ENVEA
Key Developments:
In July 2023, Hyundai Motor Corporation and Kia Corporation announced a collaborative project to introduce a CO2 Emission Monitoring System (SCEMS), an AI-enabled blockchain-based supply product designed to compute and analyze carbon emissions at every stage of a cooperative partner's supply chain, ensuring data transparency and integrity cost-effectively.
Market Segmentation
By Technology:
Predictive Emission Monitoring Systems
Continuous Emission Monitoring Systems
By End-use Industry:
Oil & Gas
Chemicals & Fertilizers
Pulp & Paper
Energy/Power
Mining
Others
By Region:
North America
Latin America
Asia Pacific
Europe
Middle East & Africa
Key Countries Covered:
U.S.
Canada
Germany
U.K.
France
Japan
China
India
Brazil
GCC
South Africa
Market Snapshot
Market Value in 2023: US$ 4.8 Bn
Market Forecast Value in 2034: US$ 10.7 Bn
Growth Rate (CAGR): 7.7%
Forecast Period: 2024-2034
Quantitative Units: US$ Bn for Value
Market Analysis: Includes qualitative analysis (drivers, restraints, opportunities, key trends, Porter's Five Forces analysis, value chain analysis, SWOT analysis) and quantitative analysis (segment and regional level).
Competition Landscape: Includes market share analysis by company, company profiles, and strategic developments.
The emission monitoring systems market (排出ガス監視システム市場) is set for significant growth over the next decade, driven by rising pollution levels and advancements in clean technologies. As industries and governments focus on sustainability and regulatory compliance, the demand for innovative and efficient emission monitoring systems is expected to surge.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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