Emission Monitoring Systems Market Size Is To Be Of $4.43 Billion By 2025

San Francisco, 04 Apr 2019 - The global emission monitoring systems market size is expected to reach USD 4.43 billion by 2025, expanding at a CAGR of 8.6% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Increased deployment and usage in oil and gas, power generation, and metals and mining industries in emerging economies such as China and India are expected to drive the growth.

Emission Monitoring Systems (EMS) have enabled companies to accurately detect, report, and reduce the concentration of harmful gases and improve air quality. The deployment of EMS has also helped regulatory agencies and departments to efficiently monitor emissions from various industries such as oil and gas, metals and mining, and chemical and fertilizer. Technological advancements such as predictive analytics and the development of sensitive and advanced sensors have significantly contributed to the growth of the emission monitoring systems market.

Recognizing the negative consequences of harmful gases into the atmosphere, governments across the globe have taken major steps to monitor and reduce emission levels. Changing regulatory framework, stringent emission standards, and improvement in the data reporting process are also some of the significant factors driving the market growth. Apart from these, growing investment in environmental management, along with personnel health protection are promoting the adoption of EMS.

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Further key findings from the study suggest:

• CEMS segment is expected to expand at the highest CAGR of 8.7% over the forecast period owing to increased adoption of these systems in oil and gas upstream and downstream
• Development of PEMS capable of higher accuracy in emission detection is further expected to drive the demand and adoption of the systems by major companies in oil and gas, power generation, and chemical and fertilizer industries
• Hardware segment presently leads the emission monitoring systems market and is also anticipated to be the fastest growing segment over the forecast period. Stringent government regulations and air quality standards by the Environmental Protection Agency (EPA) and European Committee for Standardization of emission monitoring are expected to have a positive influence on growth in U.S. and Europe, respectively
• Asia Pacific is expected to register the highest CAGR from 2019 to 2025 due to the establishment of new refineries and capacity enhancement of existing refineries to meet the rapidly growing crude oil consumption
• The key industry players include Ametek, Inc.; ABB Ltd.; Emerson Electric Company; General Electric Company; Horiba Ltd.; Enviro Technology Services Plc.; Fuji Electric Co., Ltd.; Siemens AG; Thermo Fisher Scientific Inc.; and Rockwell Automation, Inc.; among others.