Press release
Emission Equipment Market Overview, Key Emerging Trends, and Insights on Leading Players
Emission Equipment Market
Projected Market Value and Growth Outlook for the Emission Equipment Market
The emission equipment market is on track for significant expansion, expected to reach a value of $296.18 billion by 2030. This growth corresponds to a compound annual growth rate (CAGR) of 9.3% over the forecast period. Several factors contribute to this upward trajectory, including ambitious net-zero emission goals, stricter environmental regulations, wider adoption of smart monitoring technologies, ongoing industrial decarbonization efforts, and increased investments in clean technologies. Throughout the forecast period, key trends influencing the market will involve rising demand for compliance systems, the growing use of continuous emission monitoring, the expansion of industrial pollution control measures, integration of digital monitoring tools, and a surge in retrofit projects to upgrade existing equipment.
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Leading Companies Driving the Emission Equipment Market Forward
The emission equipment market features numerous influential companies that shape its competitive landscape. Prominent players include BASF SE, Siemens AG, General Electric Company, Thermofisher Scientific Inc., Honeywell International Inc., ABB Ltd., Baker Hughes 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., and Enviro Technology Services plc.
A recent notable development occurred in October 2024, when ABB Ltd., headquartered in Switzerland, acquired Germany-based Födisch Group. Although the financial details were not disclosed, this acquisition aims to reinforce ABB's leadership in continuous emissions monitoring and to enhance its sustainable industrial solutions. Födisch Group specializes in analytical solutions that support continuous emission monitoring and environmental compliance, complementing ABB's existing offerings.
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How Technological Innovations Are Shaping the Emission Equipment Industry
Companies within the emission equipment market are increasingly focusing on advanced technologies to improve energy efficiency and reduce emissions. One prominent area of innovation is the development of IoT-based building management systems, which help optimize energy use through real-time monitoring and control of key building functions such as lighting and ventilation.
For example, in March 2023, Siemens AG, a leading German provider of emission control solutions, introduced Connect Box-an open and user-friendly IoT platform designed to manage and reduce emissions in small to medium-sized buildings. This system collects real-time data from IoT sensors, assessing energy consumption and system performance. Based on this information, it automatically adjusts operations to maximize efficiency, thereby lowering the building's overall emissions.
Comprehensive Segmentation of the Emission Equipment Market
The emission equipment market is analyzed through several key segmentation criteria in this report:
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
Detailed Subcategories by Emission Type
For particulate matter control, the market includes Electrostatic Precipitators (ESP), Fabric Filters (Baghouses), and Cyclones. Regarding nitrogen oxides control, Selective Catalytic Reduction (SCR) Systems, Selective Non-Catalytic Reduction (SNCR) Systems, and Low-NOx Burners are key technologies. Sulfur oxides control devices consist of Flue Gas Desulfurization (FGD) Systems, Wet Scrubbers, and Dry Scrubbers. Lastly, for volatile organic compounds control, the primary equipment types are Carbon Adsorbers, Thermal Oxidizers, and Catalytic Oxidizers.
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