iCrowdNewswire Jan 14, 2021 2:00 AM ET
The Emission Monitoring System is a combination of various hardware components and software to control and maintain emissions such as flue gas, and wastewater from industries in a continuous timeline. The adoption of emission monitoring systems increases the reliability of systems installed in a facility by providing a real-time, and predictive analysis of emission data.
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This is achieved by installing either a continuous emission monitoring system (CEMS) or a predictive emission monitoring system (PEMS). Although PEMS uses predictive maintenance technology, CEMS is mostly adopted in oil & gas, pulp & paper, and metal & mining industries. Oil & gas also accounts for the largest market share among the industry vertical and also continuous to register the highest CAGR during the forecast period. CEMS is used in the oil & gas industry to measure and reduce the emissions continuously and gather the emission data to provide the report to government authorities. As most of the oil & gas industries are concentrated across North America, Asia, and the Middle East, these regions are expected to dominate the oil & gas industry vertical.
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. These are Enviro Technology Services plc (UK), Environnement SA (France), CMC Solutions, LLC (US), Fuji Electric Co., Ltd (Japan), Horiba, Ltd (Japan), EcoTech Marine (US) among others.
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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 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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