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Emission Monitoring System Market 2024 - By Industry Analysis, Future Prediction, Business Overview And Forecast To 2033
Emission Monitoring System Market
As per the report, the emission monitoring system market size has grown rapidly in recent years. It will grow from $3.41 billion in 2023 to $3.76 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The emission monitoring system market size is expected to see strong growth in the next few years. It will grow to $5.45 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
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Expanding Oil And Gas Industry Drives Demand For Emission Monitoring Systems
Growing demand from oil and gas and power generation industries is expected to propel the growth of emission monitoring systems market. Consumption of natural gas in India is expected to grow as it burns cleaner than fossil fuels and is easy to store. For instance, according to IBEF, an Indian Government export promotion agency, in the year 2020, crude oil production in India stood at 32.2 MMT. The production of crude oil was at 4.9 MMT in FY22 (April-May 2021) and was 30.5 MMT. India's consumption of petroleum products grew 4.5% to 213.69 MMT during FY20. Thus, increase in the consumption of oil and natural gas is predicted to increase the demand for the emission monitoring systems going forward.
Pioneering Technological Advancements In The Emission Monitoring System Market
Technological advancements are shaping the emission monitoring system market. Many companies are using new technologies to provide better and enhanced products to their customers. For instance, in 2021, ABB, a Europe-based multinational company working in the end users' sector, launched a new emissions monitoring system called CEMcaptain, designed to help shipping companies in managing compliance with the IMO emissions regulations. CEMcaptain is a multi-component analyzer system that integrates analyzer modules and sample processing components in a freestanding cabinet to deliver real-time emissions measurement data. By regulations, the unit monitors sulfur dioxide (SO2) and carbon dioxide (CO2) concurrently and constantly. With up to four distinct components per analyzer module, each analyzer has two unique gas channels to enable continuous CO2/SO2 measurement of separate streams.
The emission monitoring system market covered in this report is segmented -
1) By System Type: Continuous Emission Monitoring System (CEMS), Predictive Emission Monitoring System (PEMS)
2) By Component Outlook: Hardware, Software, Service
3) By Industry: Marine And Shipping, Mining, Metals, Pharmaceuticals, Pulp And Paper, Building Materials, Chemicals, Petrochemicals, Refineries And Fertilizers, Oil And Gas, Power Generation
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Major companies operating in the emission monitoring system market report are Thermo Fisher Scientific Inc., Teledyne Technologies Inc., Sick AG, Rockwell Automation Inc., Parker-Hannifin Corporation, Siemens AG, General Electric Company, Emerson Electric Co, AMETEK Inc., ABB Ltd., CMC Solutions LLC, Environmental SA Pvt. Ltd., Opsis AB, Ecotech Technologies Pvt. Ltd., Intertek Group plc, Analytical Technology Inc., Bacharach Inc., Beijing SDL Technology Company Limited, California Analytical Instruments Inc., Codel International Ltd., The Durag Group, E Instruments International LLC, ECO PHYSICS AG, ENVEA Société Anonyme, Fuji Electric Co. Ltd., Gasmet Technologies Oy, Horiba Ltd., KANE International Ltd., KIMO Instruments, Land Instruments International Ltd., M&C TechGroup Germany GmbH, Testo SE & Co. KGaA, Yokogawa Electric Corporation
Contents of the report:
1. Executive Summary
2. Emission Monitoring System Market Report Structure
3. Emission Monitoring System Market Trends And Strategies
4. Emission Monitoring System Market - Macro Economic Scenario
5. Emission Monitoring System Market Size And Growth
…..
27. Emission Monitoring System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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