Emission Monitoring System Market Size, Trends, Share, Growth, and Opportunity Forecast, 2023 - 2030 Global Industry Analysis By Component (Hardware, Software, and Services), By Type (CEMS, and PEMS), By Industry (Power Generation, Oil & Gas, Manufacturing, Mining, Pulp & Paper, Metals, Chemicals, and Others) and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

The Global Emission Monitoring System Market was valued at USD 3,347.2 Million in 2022 and is anticipated to reach a value of USD 7,288.4 Million by 2030 expanding at a CAGR of 10.2% between 2023 and 2030.

An emission monitoring system is a set of monitoring instruments, equipment, and procedures necessary for the determination of a gas, particulate and dust emissions from industrial processes. Emission monitoring systems are essential for industries to comply with stringent environmental regulations to monitor and control emissions of pollutants into the atmosphere from various sources.  Emission monitoring systems are necessary and used to ensure that sources are complying with the state, and local regulations to protect their health and welfare. It is also essential for maintaining air quality standards and protecting the safety, health and wellbeing of workers. Industries are required to ensure that their pollution emissions rates are within set limits. There are two main categories of emission monitoring systems include continuous emission monitoring systems (CEMS) and predictive emission monitoring systems (PEMS). CEMS is a real-time air and water pollution monitoring system whereas PEMS is a digital solution that are software-based solutions and able to provide a reliable real-time emission estimates. Emission monitoring systems are used in variety of industries such as oil and gas, metal and mining, power generation, pharmaceuticals, chemicals and other industries. 

Emission Monitoring System Market Major Driving Forces

Stringent Legal and Environmental Regulations: Governments across the globe are implementing strict regulations for pollution and greenhouse gas emission monitoring in various industries. These regulations have led to a rise in demand for emission monitoring systems.

Strong Demand for Electricity Generation: Countries around the globe depend heavily on coal-fired power plants to generate electricity which is a significant driver of the emission monitoring system market. The global reliance on coal-based power plants for electricity generation is the key factor for driving market growth.

Increasing Air Pollution: Rise in air pollution is a significant environmental problem that has impacts on human health and the environment. Increasing environmental issues have led to boost in demand for emission monitoring system.

Increasing Awareness About Environmental Protection: The growing public awareness about environmental concerns driving the demand for emission monitoring system. Emission monitoring system is essential to comply with environmental regulations for the protection of human welfare.

Emission Monitoring System Market Key Opportunities

Technological Advancements: Advancements in sensor technologies, data analytics, and remote monitoring have significantly enhanced the efficiency and functionality of emission monitoring systems. Continuous advancements in IoT and sensor technologies to meet changing sustainability criteria and challenging environmental norms is anticipated to provide opportunities for market expansion.

Increasing Industrialization:

The rapid urbanization and industrialization lead to rise in air pollution levels. Emission monitoring systems monitor and control harmful pollutants that are produced from industrial emissions. The growth of industrial sector contributes to rising air pollution which is expected to boost in demand for emission monitoring systems.

Rapid Growth in Pharmaceuticals Industry:

The pharmaceutical industry is growing significantly across the world due to an aging population, and increased prevalence of chronic diseases, which is expected to create lucrative opportunities for market expansion. Furthermore, advancements in technology within the pharmaceutical industry drives the market growth.

Emission Monitoring System Market Key Trends

·         The increasing global reliance on coal-fired power plants for electricity generation is a favorable key market trend

·         The increasing rate of VOC emissions form the developing oil and gas industry as it requires a more efforts from industry

·         Artificial intelligence is being integrated into emission monitoring systems by some system manufacturers to reduce the release of dangerous pollutants

·         Increased IoT usage to speed up the development of linked mines through the use of digital solutions

·         Technological advancements into sensor technologies, data analytics, and remote monitoring for the development of more efficient emission monitoring systems  

·         Integration of cloud computing platforms for enabling real-time monitoring and it provides a centralized, accurate and continuous analysis of emissions

Region-wise Market Insights

Asia Pacific accounted for the largest market share at 34.3% in 2022 moreover, Asia Pacific is also expected to register the fastest growth, expanding at a CAGR of 11.3% between 2023 and 2030.

In Asia Pacific, the market is characterized by the rapid urbanization, increasing industrialization, increased environmental awareness, and growing power generation has created an increasing demand for emission monitoring systems. Furthermore, the rapid economic growth of the countries such as China and India have been increased energy needs which drives demand for emission monitoring systems in the region. In North America, the demand is driven by a well-established and well-defined emission control regulations, growing adoption of advanced technologies, and robust industrial base. Furthermore, growing demand for clean energy, government initiatives, and robust industrial base are some factors attributed to market growth in the region. In Europe, governments are undertaking environmental regulations policies and initiating environment protection acts to protect the environment and human life. In Asia-Pacific countries such as China, India, and South Korea are witnessing the rapid growth for emission monitoring system market. The Middle East and Africa has been witnessing a moderate demand for emission monitoring systems, due to environmental regulations growth of oil and gas industry, and increasing investment in renewable energy sources.

Market Competition Landscape

The global emission monitoring system market is highly competitive due to the presence of major players in the market selling their products both domestically and internationally. Major players are investing in research and development to drive innovation and advanced products. Key players in the emission monitoring system market adopting various strategies aimed at gaining a competitive edge. These strategies include product launches, design differentiation, mergers and acquisitions, and the incorporation of advanced technologies to meet evolving consumer preferences. Along with business strategies, these key players are introducing new features to improve the customer experiences. Established brands leverage their reputation for quality and reliability to maintain market share, while newer entrants focus on disruptive innovations and unique selling propositions.

Key players in the global emission monitoring system market implement various organic and inorganic strategies to strengthen and improve their market positioning. Prominent players in the market include:

·         ABB Ltd

·         AMETEK. Inc.

·         Emerson Electric Co.

·         Siemens AG

·         Thermo Fisher Scientific Inc.

·         General Electric Company

·         Fuji Electric Co., Ltd.

·         Teledyne Technologies Incorporated

·         Rockwell Automation, Inc.

·         Horiba Ltd.

·         ACOEM Ecotech Pty. Ltd.

·         CMC Solutions

·         Parker Hannifin Corporation

·         Opsis AB