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According to a report released by Markets and Markets, an international market research institution, the global emissions monitoring system market will reach $2.
6 billion in 2020 and is expected to increase to $3.
5 billion by 2025, with a compound annual growth rate of 6%.
Key factors driving the growth of the market include the high dependence of countries across the globe on coal-fired power plants for power generation and the increasing number of countries implementing stringent emission codes and standards
.
In addition, the increasing demand for environmental protection is also contributing to the growth
of the emission monitoring systems market.
From the perspective of system composition, the hardware market will occupy the largest size
of the emission monitoring system market by 2025.
The growth of the hardware market can be attributed to the use of both flue gas emission monitoring systems CEMS and vehicle emission monitoring systems PEMS to collect emission data
.
CEMS operates through its hardware components, while PEMS is a software-driven system and uses hardware components such as sensors to predict gas emissions
.
Since most plants have installed continuous emission monitoring systems, hardware-based continuous emission monitoring systems increase the need
for hardware equipment.
In terms of monitoring type, CEMS will account for the largest size
of this market by 2025.
CEMS is used to collect data
on gas emission levels from various industries, such as power generation, oil and gas, chemicals, and waste incineration.
Moreover, the implementation of stringent regulations regarding cross-industry pollution monitoring is expected to increase the demand
for CEMS.
In terms of regional market, Asia Pacific is expected to be the largest regional market
for emissions monitoring systems during the forecast period.
China and India are the major contributors
to the growth of the market in the Asia-Pacific region.
This can also be attributed to the growing power generation and chemical use industries in the region, which are major users
of emission monitoring systems.
In addition, the increase in coal-fired power plant capacity is another reason
for the growing demand for emissions monitoring systems.
In 2020, the COVID-19 pandemic ravaged the globe, leading to lockdown measures
worldwide.
Supply chains in and around the Asia-Pacific region have been disrupted
due to limited shipments that are only allowed.
Under the lockdown, Asian countries have suffered huge business and revenue losses
due to the closure of many manufacturing sectors.
According to a report released by Markets and Markets, an international market research institution, the global emissions monitoring system market will reach $2.
6 billion in 2020 and is expected to increase to $3.
5 billion by 2025, with a compound annual growth rate of 6%.
Key factors driving the growth of the market include the high dependence of countries across the globe on coal-fired power plants for power generation and the increasing number of countries implementing stringent emission codes and standards
.
In addition, the increasing demand for environmental protection is also contributing to the growth
of the emission monitoring systems market.
From the perspective of system composition, the hardware market will occupy the largest size
of the emission monitoring system market by 2025.
The growth of the hardware market can be attributed to the use of both flue gas emission monitoring systems CEMS and vehicle emission monitoring systems PEMS to collect emission data
.
CEMS operates through its hardware components, while PEMS is a software-driven system and uses hardware components such as sensors to predict gas emissions
.
Since most plants have installed continuous emission monitoring systems, hardware-based continuous emission monitoring systems increase the need
for hardware equipment.
In terms of monitoring type, CEMS will account for the largest size
of this market by 2025.
CEMS is used to collect data
on gas emission levels from various industries, such as power generation, oil and gas, chemicals, and waste incineration.
Moreover, the implementation of stringent regulations regarding cross-industry pollution monitoring is expected to increase the demand
for CEMS.
In terms of regional market, Asia Pacific is expected to be the largest regional market
for emissions monitoring systems during the forecast period.
China and India are the major contributors
to the growth of the market in the Asia-Pacific region.
This can also be attributed to the growing power generation and chemical use industries in the region, which are major users
of emission monitoring systems.
In addition, the increase in coal-fired power plant capacity is another reason
for the growing demand for emissions monitoring systems.
In 2020, the COVID-19 pandemic ravaged the globe, leading to lockdown measures
worldwide.
Supply chains in and around the Asia-Pacific region have been disrupted
due to limited shipments that are only allowed.
Under the lockdown, Asian countries have suffered huge business and revenue losses
due to the closure of many manufacturing sectors.
