Market Highlights:
The emission monitoring system is a collection of hardware and software that works together to regulate and maintain emissions from industries such as flue gas and wastewater on a continuous basis. By offering real-time and predictive analysis of emission data, emission monitoring systems improve the reliability of equipment placed in a facility. Installing either a continuous emission monitoring system (CEMS) or a predictive emission monitoring system does this (PEMS). CEMS is largely used in the oil and gas, pulp and paper, and metal and mining industries, despite the fact that PEMS uses predictive maintenance technologies. Oil & gas has the largest market share of any industrial vertical and is expected to grow at the fastest rate during the projected period. CEMS is used in the oil and gas industry to continually measure and minimise emissions, as well as gather emission data for reporting to government agencies. Because the majority of the oil and gas industries are centred in North America, Asia, and the Middle East, the oil and gas industry vertical is likely to be dominated by these regions.
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Key Players:
The key players in the emission monitoring system market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are ABB Ltd (Switzerland), AMETEK, Inc. (US), Emerson Electric Co. (US), General Electric Company (US), Siemens AG (Germany), Parker Hannifin Corporation (US), Rockwell Automation, Inc. (US), Sick AG (Germany), Teledyne Technologies, Inc. (US), and Thermo Fisher Scientific (US). These players contribute significantly to market growth.
Apart from the top key players, the other players contribute nearly 30%–35% in the emission monitoring system market growth These are Enviro Technology Services plc (UK), Environment SA (France), CMC Solutions, LLC (US), Fuji Electric Co., Ltd (Japan), Horiba, Ltd (Japan), Ecotec Marine (US) among others.
Regional Analysis:
The market for the emission monitoring system is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographic analysis of emission monitoring system market growth is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East & Africa, and South America).
Europe is one of the prime regions for manufacturers and IT vendors to set-up their factories and data center facilities. The construction of these factories, emission of gases, and high power consumption due to inefficient emission control has encouraged the manufacturers to adopt the emission monitoring systems in Europe. In addition, Germany is the major hub for automotive manufacturing, which increases the demand for adopting emission monitoring systems. Moreover, the stringent regulations from the EU in monitoring and controlling gaseous emissions from factories, and reducing carbon emission adds to the growth of emission monitoring systems in Europe. Apart from Europe, the US holds a major share in the global emission monitoring system market due to stringent government regulations by the US government for oil & gas, and metal & mining industries.
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