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Emission Monitoring System (EMS) Market Overview
The Emission Monitoring System (EMS) Market is expected to grow at a CAGR of 11% and is expected to reach a value of USD 5.37 billion during the forecast period. The market was valued at USD 2.95 billion during the historic forecast period. Emission monitoring systems are used extensively in industrial operations for a variety of industrial reasons, including regulating emissions released by those industries. Emission monitoring systems are made up of a variety of hardware components such as gas analyzers, filters, and software to record the data collected. The Emission Monitoring System market has been propelled by severe rules established by governments of many countries, conclaves, and awareness produced by organizations in such nations regarding environmental protection.
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Several countries, on the other hand, are seeking renewable energy options, which has slowed the expansion of the Emission Monitoring System business in recent years. European governments are promoting the use of renewable energy sources aggressively, as well as converting the automotive industry to energy-efficient solutions to reduce the use of non-renewable energy and thereby reduce carbon emissions. The expansion of the Emission Monitoring System sector is being harmed by such shifting tendencies. Furthermore, the Pandemic has had an impact on output rates across all industrial sectors, reducing the need for Emission Monitoring Systems to be installed.
Based on the System Type, the global Emission Monitoring System (EMS) Market has been segmented into Continuous Emission Monitoring System (CEMS) and Predictive Emission Monitoring System (PEMS).
Based on the Offering, the global Emission Monitoring System (EMS) Market has been segmented into Hardware, Software, and Service.
Based on the Industry, the global Emission Monitoring System (EMS) Market has been segmented into Power Generation, Oil & Gas, Chemicals, Petrochemicals, Refineries, & Fertilizers, Building Materials, Pulp & Paper, Pharmaceuticals, Metals, Mining, Marine & Shipping, and Waste Incineration.
Based on the Region, the global Emission Monitoring System (EMS) Market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
In the Asian Pacific area, coal-powered industries and power generation industries are abundant. Coal-powered industries provide a lot of electricity in countries like China and India. The Emission Monitoring system’s primary customers are coal-powered factories, which emit enormous volumes of substrate matter and dust into the environment. Europe, on the other hand, is the largest IT vendor and a key manufacturing base for establishing factories and data centers. The expanding building activity and power consumption in those countries are creating lucrative prospects for the Emission Monitoring System business to flourish. In recent years, the Chinese and Indian governments have put increasingly rigorous rules on their respective manufacturing sectors.
The major key players in the market are ABB Ltd (Switzerland), AMETEK, Inc. (the US), Emerson Electric Co. (the US), General Electric Company (the US), Siemens AG (Germany), Parker Hannifin Corporation (the US), Rockwell Automation, Inc. (the US), Sick AG (Germany), Teledyne Technologies, Inc. (the US), Thermo Fisher Scientific (the US), Enviro Technology Services plc (UK), Environnement S.A. (France), CMC Solutions, LLC (the US), Fuji Electric Co., Ltd (Japan), Horiba, Ltd. (Japan), and EcoTech Marine (the US).
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