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Emission Equipment Global Market Analysis, Trends, Growth, Research And Forecast 2033
Emission Equipment Global Market
As per the report, the emission equipment market size has grown rapidly in recent years. It will grow from $155.52 billion in 2023 to $172.12 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The emission equipment market size is expected to see rapid growth in the next few years. It will grow to $260.08 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%.
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Impact Of Increasing Greenhouse Gas Emissions On The Emission Equipment Market
The increase in greenhouse gas emissions is expected to propel the growth of the emission equipment market going forward. Greenhouse gas emissions refer to releasing gases into the Earth's atmosphere that trap heat, leading to the greenhouse effect and global warming. The increase in greenhouse gas emissions is due to various human activities and natural processes that have intensified significantly over the past century. Emission equipment is critical in mitigating greenhouse gas emissions by reducing the pollutants released into the atmosphere from various industrial and commercial activities. For instance, in June 2024, according to the Office for National Statistics (ONS), a UK-based government department, greenhouse gas emissions per person in the UK increased by 1.2% to 506 million tons of CO2 equivalent between 2021 and 2022. Therefore, an increase in greenhouse gas emissions is driving the growth of the emission equipment market.
Innovative IoT-Based Solutions Driving Emission Reduction In Building Management
Major companies operating in the emission equipment market are developing advanced products, such as IoT-based building management systems, to reduce energy consumption and emissions. IoT-based building management systems reduce emissions by optimizing energy use through real-time monitoring and control of building systems such as lighting and ventilation. For instance, in March 2023, Siemens AG, a Germany-based provider of advanced emission equipment solutions, launched Connect Box, an open and user-friendly IoT solution tailored for managing and reducing emissions from small to medium-sized buildings. The Siemens Connect Box optimizes building operations by gathering real-time data from IoT sensors to monitor energy consumption and system performance. It then uses this data to make adjustments that maximize efficiency, reducing overall emissions from the building's operations.
The emission equipment market covered in this report is segmented -
1) By Emission Type: Particulate Matter Control Equipment, Nitrogen Oxides Control Equipment, Sulfur Oxides Control Equipment, Volatile Organic Compounds Control Equipment
2) By Solution: Emission Test Equipment, Emission Test Software, Emission Test Service
3) By Application: Industrial, Automotive, Marine, Aerospace, Other Applications
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Major companies operating in the emission equipment market are BASF SE, Siemens AG, General Electric Company, Thermofisher Scientific Inc., Honeywell International Inc., ABB Ltd., Baker Huges Co., Alstom SA, Johnson Matthey plc, Emerson Electric Co., ANDRITZ AG, Fuji Electric Co. Ltd., Ametek Inc., Teledyne Technologies Incorporated, HORIBA Ltd., SICK AG, Spectris plc, Thermax Limited, Babcock And Wilcox Enterprises Inc., Enviro Technology Services plc
Contents of the report:
1. Executive Summary
2. Emission Equipment Market Report Structure
3. Emission Equipment Market Trends And Strategies
4. Emission Equipment Market - Macro Economic Scenario
5. Emission Equipment Market Size And Growth
…..
27. Emission Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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