The emission monitoring systems market was valued at US$3,304.043 million in 2018 and is projected to expand at a CAGR of 9.14% over the forecast period to reach US$5,582.588 million by 2024.
Industries such as cement, oil & gas, power plants, and others emit hazardous gases, impacting the environment and the health of humans, birds, and animals. Several countries have framed stringent regulation policies to protect the environment and health of human beings. Strict regulations of government have led to the use of emission monitoring systems (EMS) in industries. EMS help in limiting and measuring the emissions of hazardous gases by industries.
The clean air act of the U.S. authorizes Environment Protection Agency (EPA) to establish National Ambient Air Quality Standards (NAAQS) to protect public health and public welfare and to regulate emissions of hazardous air pollutants. In China, industries have to obtain a pollutant discharge permit for industrial emissions or the emission of specified hazardous and toxic atmospheric pollutants. Since, January 1, 2018, pollution discharged fees were replaced by an environmental protection tax.
The increasing importance to meet emission compliance and the improvement in the frequency and data reporting process is significantly driving the emission monitoring system market. Moreover, growing consumer awareness coupled with stringent regulation and the growth of the oil and mining industry has also contributed to the growth of the market. Geographically, the Asia Pacific region is expected to have a significant market share owing to rapid industrialization in the region.
Major industry players profiled as part of the report are Rockwell Automation Inc., ABB Ltd., Horiba Ltd., Emerson Electric, Siemens AG, General Electric, Enviro Technology Services Plc., AMETEK. Inc., Thermo Fisher Scientific Inc.
| Report Metric | Details |
| Market size value in 2018 | US$3,304.043 million |
| Market size value in 2024 | US$5,582.588 million |
| Growth Rate | CAGR of 9.14% from 2018 to 2024 |
| Base year | 2018 |
| Forecast period | 2019–2024 |
| Forecast Unit (Value) | USD Million |
| Segments covered | Type, Component, Vertical, And Geography |
| Regions covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies covered | Rockwell Automation, Inc, ABB Ltd., Horiba Ltd., Emerson Electric Co., Siemens AG, General Electric Company, Enviro Technology Services Plc., AMETEK, Inc., Thermo Fisher Scientific Inc. |
| Customization scope | Free report customization with purchase |
Segmentation:
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the emission monitoring systems market?
A1. The emission monitoring systems market is projected to expand at a CAGR of 9.14% over the forecast period.
Q2. Which region holds the largest market share in the emission monitoring systems market?
A2. Geographically, the Asia Pacific region is expected to have a significant market share owing to rapid industrialization in the region.
Q3. What will be the emission monitoring systems market size by 2024?
A3. The emission monitoring systems market is projected to reach a market size of US$5,582.588 million by 2024.
Q4. Who are the major players in the emission monitoring systems market report?
A4. Major industry players profiled as part of the report are Rockwell Automation Inc., ABB Ltd., Horiba Ltd., Emerson Electric, Siemens AG, General Electric, Enviro Technology Services Plc., AMETEK. Inc., Thermo Fisher Scientific Inc.
Q5. What factors are anticipated to drive the emission monitoring systems market growth?
A5. The increasing importance to meet emission compliance and the improvement in the frequency and data reporting process is significantly driving the emission monitoring system market.
Rockwell Automation, Inc
ABB Ltd.
Horiba Ltd.
Emerson Electric Co.
Siemens AG
General Electric Company
Enviro Technology Services Plc.
AMETEK, Inc.
Thermo Fisher Scientific Inc.
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