ALBANY, New York, April 10, 2019 /PRNewswire/ -- Transparency Market Research (TMR) finds, key players in the global emission monitoring systems market are teeming with mid-sized and local players. This is rendering a highly fragmented competitive landscape to the market. The competition in the emission monitoring systems market is anticipated to intensify further with the entry of new players in the market. Top players have adopted strategies such as product launches, mergers and acquisitions, expansions, and partnerships to grow in the emission monitoring systems market.
Some of the prominent players operating in the emission monitoring systems market are ABB Ltd., Sick AG, Teledyne Technologies Inc., Emerson Electric Co., Babcock & Wilcox Enterprises Inc., Durag Group, AMETEK Inc, and Siemens AG.
According to a recently launched market report by TMR, the global emission monitoring systems market is projected to expand at an impressive 7.5% CAGR between 2017 and 2025. Rising at this pace, the market is anticipated to reach a valuation of US$71,187 mn by 2025. The emission monitoring systems market was noted at a valuation of US$3997.8 mn in 2017.
Based on technology, continuous emission monitoring systems accounted for maximum share in the year 2017. Rising demand to install continuous emission monitoring systems in several industry verticals was the major factor behind astonishing growth of the segment. In the same year, Asia Pacific accounted for maximum share in the emission monitoring systems market among all regions. This is mainly because of the countries such as China and Japan. These countries had laid down stringent environmental regulation for emission control by creating immense demand for emission monitoring systems in the Asia Pacific region.
High Costs of Integrating Advanced Systems in Industries to Impede Growth
The emission monitoring systems market is projected to gain from growing demands for cost effective, integrated, and comprehensive emission monitoring systems from several manufacturing and production units. Moreover, increasing health and safety issues, and growing use of oil & gas and petrochemicals are some other factors likely to drive global emission monitoring systems market. Emission monitoring system (EMS) refers to a combination of hardware and software used to determine concentration and type of gases emitted from several industrial verticals.
On the flip side, factors like limited awareness about advantages of emission monitoring systems, and high integration cost of the emission monitoring systems to join traditional systems of industries are likely to hamper growth of the emission monitoring systems market. Nevertheless, growing adoption of advanced technologies such as data & analytics solutions, automations and IoT by the manufacturers of emission monitoring systems is expected to increase efficiency of present monitoring systems. This is expected to offer lucrative opportunities to the growth of the emission monitoring systems market during the forecast period.
Stringent Government Regulations to Drive Emission Monitoring Systems Market
Fast pace industrialization and urbanization across the globe are overwhelming contributors to severe environmental damage. Power plants, automotive and other industries are emitting tons of hazardous gases into the atmosphere owing to this many countries have taken major steps to properly monitor and curb emissions. Governments are ramping their investment to spread awareness regarding adverse consequences of air pollutions. Growing awareness about air pollution has a positive influence on the global emission monitoring systems market. Further, stringent environmental regulations regarding emission control, environmental degradation and pollution has given a strong boost to the global emission monitoring systems (EMS) market
The review presented here is based on the findings of a TMR report, titled "Emission Monitoring Systems Market (Technology - Predictive Emission Monitoring Systems, Continuous Emission Monitoring Systems; Industry Verticals - Oil & Gas, Chemicals and Fertilizers, Cement, Pulp & Paper, Energy and Power, Mining, Electronics, Food and Beverage, and Healthcare) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025."
The global emission monitoring systems market is segmented as follows:
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