How Has the Continuous Emission Monitoring System Market Evolved Historically and What is its Current Size?
The continuous emission monitoring system market has seen considerable growth due to a variety of factors.
• The market size of the continuous emission monitoring system has significantly expanded recently. Its growth is projected to increase from $2.74 billion in 2024 to $2.91 billion in 2025 with a compound annual growth rate (CAGR) of 5.9%.
This growth during the historical period can be linked to an emphasis on corporate social responsibility (CSR), efforts to decrease costs and improve operational efficiency, heightened awareness of environmental influences, and rising regulatory pressure.
What Does Future Hold for The Continuous Emission Monitoring System Market By 2029?
The continuous emission monitoring system market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, substantial growth is anticipated in the continuous emission monitoring system market. It is projected to escalate to $3.61 billion in 2029, with a compound annual growth rate (CAGR) of 5.6%.
The expansion in the respective period can be attributed to the growth of the industry, rising penalties for non-adherence, and emphasis on health and safety considerations. Noteworthy trends in this projected period include technological advancements, stricter environmental laws, a shift towards immediate monitoring, growing consciousness about climate change, broadening of end-user industries, and the incorporation of data analytics along with artificial intelligence.
What Are The Primary Growth Drivers In The Continuous Emission Monitoring System Market?
The continuous emission monitoring system market is anticipated to be fueled by accelerated industrialization. The ongoing economic and social transition through the expansion of industries and mass production is a part of this industrialization process. The burgeoning global trade opportunities and heightened global connectivity, which permit nations to specialize in the production of specific goods and be part of global value chains, are propelling this swift industrialization. Continuous emission monitoring systems play a crucial role in enabling industries to scrutinize and lessen their environmental impact to keep up with the speedy industrialization pace. These systems offer essential data related to emission levels to industries, empowering them to pinpoint pollution sources and evaluate pollution control measures' efficiency. In February 2024, manufacturing output saw an increase of 0.8% compared to January the same year, as reported by the Federal Reserve Bank, a central bank based in the US, in March 2024. Eurostat, a governmental statistical agency based in Luxembourg, reported a 0.2% rise in industrial output in the European area in July 2023. Additionally, a 0.1% surge in the European Union was recorded from May to April 2023. Hence, the continuous emission monitoring system market's growth is being motivated by the fast-paced industrialization.
What Is The Segmentation Of The Global Continuous Emission Monitoring System Market?
The continuous emission monitoring system market covered in this report is segmented –
1) By Component: Gas Analyzers, Sample Probes, Data Acquisition System, Software Solutions, Other Components
2) By Technology: Extractive Continuous Emission Monitoring System (CEMS), Dilution Continuous Emission Monitoring System (CEMS), In-Situ Continuous Emission Monitoring System (CEMS)
3) By End-Use Industry: Power Generation, Oil And Gas, Chemical, Manufacturing, Cement, Other End Use Industries
Subsegments:
1) By Gas Analyzers: Non-Dispersive Infrared (NDIR) Analyzers, Chemiluminescence Analyzers, Paramagnetic Analyzers, Zirconia Oxygen Analyzers, Other Gas Analyzers
2) By Sample Probes: Heated Probes, Unheated Probes, Dilution Probes, High-Temperature Probes, Standard Probes
3) By Data Acquisition System (DAS): Data Logging Systems, Real-Time Monitoring Systems, Data Communication Systems, Cloud-Based Data Systems
4) By Software Solutions: Emission Monitoring Software, Data Management Software, Compliance Reporting Software, Predictive Maintenance Software, Process Control Software
5) By Other Components: Calibration Equipment, Sample Conditioning Units, Pumps And Valves, Filters And Scrubbers, Flow Meters
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Which Emerging Market Trends Are Altering The Continuous Emission Monitoring System Industry?
Key nations involved in the continuous emission monitoring system market are striving to gain a competitive advantage by unveiling innovative solutions such as blockchain-based systems. These are decentralized digital platforms that employ blockchain technology for the secure recording, storage, and management of data across a distributed computer network, providing transparency, immutability, and traceability for various applications. For instance, Hyundai Motor Company and Kia Corporation, both automobile manufacturers from South Korea, introduced a blockchain-based Supplier CO2 Emission Monitoring System (SCEMS) in July 2023. The blockchain-based SCEMS improves sustainability within the supply chain by using AI to precisely track emissions and provide transparent data. The goal of this initiative is to combat climate change by assisting suppliers in effectively managing their carbon emissions and ensuring adherence to environmental standards.
Who Are the Key Players In The Continuous Emission Monitoring System Market?
Major companies operating in the continuous emission monitoring system market are:
• Siemens AG
• Thermo Fisher Scientific Inc.
• Honeywell International Inc.
• ABB Ltd.
• Parker-Hannifin Corporation
• Emerson Electric Co.
• AMETEK Inc.
• Teledyne API
• Yokogawa Electric Corporation
• Endress+Hauser AG
• Horiba Ltd.
• SICK AG
• Testo SE & Co. KGaA
• Fuji Electric Co. Ltd.
• Durag GROUP
• Opsis AB
• Gasmet Technologies Oy
• ENOTEC GmbH
• ENVEA Group
• CODEL International Ltd.
• Unisearch Associates Inc.
• M&C TechGroup
• Nova Analytical Systems Inc.
• Chromatotec Group
• Ecotech Pty Ltd.
What Are The Regional Insights Into The Continuous Emission Monitoring System Market?
North America was the largest region in the continuous emission monitoring system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the continuous emission monitoring system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
