The emission monitoring systems market on the basis of offerings has been split into hardware, software, and services.
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Key players in the market include ABB (Switzerland), AMETEK (US), Emerson (US), General Electric (US), Siemens (Germany),Parker Hannifin (US),Rockwell Automation (US), SICK (Germany), Teledyne Technologies (US),and Thermo Fisher (US).
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“PEMS market to exhibit high growth potential during the forecast period”
The PEMS market is expected to grow at the highest CAGR between 2018 and 2025. Key driving factors for the growth of the PEMS market are that it is a cost-effective reliable system and incurs lower operational and maintenance costs compared with CEMS.
PEMS does not require on-site emergency services.
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“Emission monitoring systems market for services expected to grow at the highest CAGR during the forecast period“
The emission monitoring systems market for services is estimated to grow at the highest CAGR between 2018 and 2025. Services such as installation, maintenance, and training are required after the purchase of CEMS and PEMS.
Furthermore, the continuous development of hardware and software leads to the requirement of training and upgrade of the system.
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Key factors driving the growth of the market include stringent legal and environmental regulations, increased awareness about environmental protection, increasing health and safety issues, and growing use of oil & gas and petrochemicals. However, the high cost of maintenance of CEMS and fragmented market with many specialist suppliers are key restraining factors for the market growth.
“APAC to be the fastest-growing market for emission monitoring systems during the forecast period”
The market in the APAC is expected to grow at the highest CAGR between 2018 and 2023. The growth is attributed to huge industrial sector and strict emission regulations imposed by the government of China.
Furthermore, India is the fastest-growing country in APAC, focuses on addressing environmental issues and improving its environmental policies. Various exhibitions such as Fugitive Emissions Summit China 2018, Argus Ethanol China 2018, Argus China and Global Oil 2018, and CIEPEC 2017 (15th China International Environmental Protection Exhibition & Conference) aim at integrating the community of end users, distributors, manufacturers, and suppliers.
Break-up of profile of primary participants for the report as given below:
- By Company Type–Tier 1 – 48%, Tier 2 – 34%, and Tier 3 – 18%
- By Designation – C level – 47%, Director level – 32%, and Manager level – 21%
- By Region –North America - 31%, Europe – 22%, APAC – 42%, RoW – 5%