Emission Equipment Market: Major Trends Reshaping the Future of the Industry

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What Will the Emission Equipment Industry Market Size Be by 2025?
The market size for emission equipment has seen a swift expansion in the recent past. Projected to escalate from $172.12 billion in 2024 to $191.29 billion in 2025, it is set to experience a compound annual growth rate (CAGR) of 11.1%. The surge during the historical period can be credited to environmental regulations and standards, industrial growth and urbanization, increasing public consciousness and activism, heightened health concerns, and knowledge about environmental issues.

What's the Long-Term Growth Forecast for the Emission Equipment Market Size Through 2029?
In the ensuing years, the emission equipment market size is projected to witness a rapid surge and is expected to reach a valuation of $287.8 billion in 2029, posting a compound annual growth rate (CAGR) of 10.8%. This growth in the predicted period is mainly due to increasingly rigid environmental laws, economical expansion, and industrial growth along with heightened governmental and public pressure, global understandings, initiatives, and the rising awareness about health and environmental impacts. The forecast period is likely to see significant trends such as technological progress, incorporation of superior technologies, renewable energy, clean technologies, a shift towards sustainable and green technologies, digitalization, and intelligent technologies.

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What Are the Key Growth Drivers Fueling the Emission Equipment Market Expansion?
The rise in emissions of greenhouse gases is anticipated to fuel the expansion of the emission equipment market in the future. These emissions refer to the discharge of gases into the Earth's atmosphere, which trap heat and contribute to the greenhouse effect and global warming. The escalation in these emissions is attributed to a multitude of human activities and natural processes, which have markedly accelerated over the past one hundred years. The role of emission equipment is vital in curbing greenhouse gas emissions by diminishing the pollutants released into the atmosphere from various commercial and industrial processes. For example, the US Energy Information Administration, a US government agency, reported that in June 2024, the CO2 emissions in 2021 were 35.72 billion metric tons, which augmented to 38.50 billion metric tons in 2022. Hence, this surge in greenhouse gas emissions is stimulating the development of the emission equipment market.

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What Are the Key Trends Driving Emission Equipment Market Growth?
Major players in the emission equipment market are innovating and creating new products, including IoT-based building management systems, in an effort to curb energy consumption and emissions. These IoT-based systems work by regulating energy use in real time, monitoring and controlling building operations such as lighting and ventilation to lower emissions. For instance, Siemens AG, a leading emission equipment solutions company based in Germany, unveiled their Connect Box in March 2023. This is an open, user-friendly IoT solution specifically designed for managing and minimizing emissions from small to medium-sized buildings. The Siemens Connect Box improves building operations by collecting real-time data from IoT sensors, which then monitor energy usage and the performance of the system. This information is then utilized to make changes that boost efficiency and consequently lower total emissions from the building's operations.

How Is the Emission Equipment Market Segmented?
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

Subsegments:
1) By Particulate Matter Control Equipment: Electrostatic Precipitators (Esp), Fabric Filters (Baghouses), Cyclones
2) By Nitrogen Oxides Control Equipment: Selective Catalytic Reduction (Scr) Systems, Selective Non-Catalytic Reduction (Sncr) Systems, Low-Nox Burners
3) By Sulfur Oxides Control Equipment: Flue Gas Desulfurization (Fgd) Systems, Wet Scrubbers, Dry Scrubbers
4) By Volatile Organic Compounds Control Equipment: Carbon Adsorbers, Thermal Oxidizers, Catalytic Oxidizers

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Which Companies Are Leading the Charge in Emission Equipment Market Innovation?
Major companies operating in the emission equipment market are BASF SE, Siemens AG, General Electric Company, Thermo Fisher 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

Which Regions Are Leading the Global Emission Equipment Market in Revenue?
North America was the largest region in the emission equipment market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the emission equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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