Future of Emission Equipment Market: Size, Share & Forecasts to 2029

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What Is the Projected Market Size Valuation of the Emission Equipment Market by 2025?
In recent times, the emission equipment market has seen substantial growth. The market, which was valued at $172.12 billion in 2024, is projected to expand to $188.37 billion in 2025, with a compound annual growth rate (CAGR) of 9.4%. The growth during the previous period was as a result of environmental rules and policies, industrialization, urban development, heightened public consciousness and campaigning, increasing health worries, and understanding of environmental matters.

What Is the Estimated Market Growth Value for the Emission Equipment Industry in 2029?
The market size for emission equipment is projected to witness robust expansion in the following years. The industry is expected to balloon to a value of $273.53 billion by 2029, with a compound annual growth rate (CAGR) of 9.8%. The predicted surge during the projected stint is a result of the ongoing enforcement of tough environmental policies, economic advancement, and industrial growth. Other influential factors include amplified concern from the public and government, international agreements and drives, and awareness about health and environmental ramifications. Noteworthy developments expected during this time frame encompass advancements in technology, the incorporation of cutting-edge systems, renewable and clean energy technologies, an emphasis on sustainable and environment-friendly technology, digital transformation, and smart technologies.

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What Are the Growth Drivers and Opportunities in the Emission Equipment Market?
The rise in greenhouse gas emissions is predicted to drive the expansion of the emission equipment market in the future. These emissions, which refer to the release of gases that trap heat in the Earth's atmosphere, contribute to the greenhouse effect and global warming. The surge in these gas emissions has been substantially triggered by various human activities and natural processes over the last century. The role of emission equipment is crucial in countering these greenhouse gas emissions by curbing the pollutants expelled into the atmosphere from diverse industrial and commercial activities. For instance, the US Energy Information Administration, a government agency in the USA, reported in June 2024, that the CO2 emissions in 2021 stood at 35.72 billion metric tons, which rose to 38.50 billion metric tons in 2022. Hence, the rising greenhouse gas emissions are fueling the growth of the emission equipment market.

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What Are the Primary Segments Covered in the Global Emission Equipment Market Report?
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

What Are the Top Growth Trends in the Emission Equipment Market?
Leading firms in the emission equipment market are innovating and producing advanced technologies like IoT-based building management systems to minimize energy use and pollution. These systems curtail emissions by enhancing energy optimization through continual supervision and regulation of building utilities such as lighting and ventilation. For example, in March 2023, Siemens AG, a renowned emission equipment solution provider from Germany, introduced the Connect Box - a versatile and user-centered IoT solution designed for the management and reduction of emissions in small to medium-sized buildings. The Siemens Connect Box improves building functioning by collecting real-time data from IoT sensors to observe energy usage and system facility. This data is subsequently applied to make modifications that boost efficiency, ultimately diminishing general emissions from the building's functioning.

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Which Companies Are Shaping the Future of the Emission Equipment Market?
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 Region Holds the Largest Market Share in the Emission Equipment Industry?
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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This release was published on openPR.