Emission Monitoring System Market is expected to reach US$ 7.47 Billion by 2031

Extensive Applications of Emission Monitoring System in Automotive Industry to Fuel Emission Monitoring System Market Growth During Forecast Period 

According to our latest study, "Emission Monitoring System Market Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis – by Functionality, Technology, Type, End User," the market was valued at US$ 3.61 billion in 2023 and is expected to reach US$ 7.47 billion by 2031; it is estimated to record a CAGR of 9.5% from 2023 to 2031. The report includes growth prospects owing to the current Emission Monitoring System market trends and their foreseeable impact during the forecast period.

The automotive industry is an ever-evolving, multifaceted field that requires a variety of industrial processes in the production of a vehicle. One of the major environmental issues over recent years is the degradation of the quality of air owing to emissions produced by vehicles. The high level of pollution triggered by vehicles in urban areas is one of the prime concerns that is acting as a key driver for the emission monitoring system market globally. In vehicles, air quality sensors and temperature sensors are used to check engine conditions, which, in turn, reveals vehicle emissions. The system contains carbon monoxide sensors to identify carbon emissions, and the emission value is displayed to the user on the driver's dashboard.

Emission Monitoring System Market Analysis - by Geography

Source: The Insight Partners Analysis

The European Union (EU) has taken steps to reduce emissions in the automotive sector, deciding provisional targets of ~55% CO2 emission reductions for new cars and ~50% for new vans from 2030 to 2034 compared to 2021 levels, along with a proposed ban on the deal of new petrol and diesel cars by 2035. The European Green Deal, a large-scale endeavor to make certain that there are no net emissions of greenhouse gases by 2050, aligns with the overall target of the Paris Agreement.  

The burgeoning demand for automotive vehicles results in frequent investments in the country's automotive sector. For instance, in February 2024, Schaeffler announced the expansion of its operations in the US with the addition of a new manufacturing facility concentrating on fabricating automotive electric mobility solutions. The company planned an investment of over US$ 230 million for the establishment of an advanced manufacturing facility in Ohio, US, along with its future expansion until 2032. The assembly plant of the Mazda–Toyota joint venture for manufacturing automotive parts in Huntsville, General Motors Company's Detroit/Hamtramck Assembly, Flint Truck Assembly, Lansing Delta Township Assembly, and Orion Assembly are some of the automotive parts manufacturing facilities. Ford Motor Company's Flat Rock Assembly Plant, Dearborn Truck, and Michigan Assembly Plant are a few of the major automotive manufacturing plants in the US. The extensive applications of Emission Monitoring System in the flourishing automotive industry fuel the market growth.

ABB Ltd, Siemens AG, Horiba Ltd, Danfoss AS, Emerson Electric Co, Ametek Inc, Protea Ltd, SLB, Sensirion Holding AG, Green Instruments A/S, Emsys Maritime Ltd, Green Sea Guard, OPSIS AB, NevadaNano, Project Canary, and Qube Technology are among the key players profiled in the Emission Monitoring System market report. Several other major players were also studied and analyzed during the market study to get a holistic view of the market and its ecosystem.

The report includes the Emission Monitoring System market forecast by functionality, technology, type, and end user. Based on functionality, the emission monitoring system market has been segmented into continuous emission monitoring system (CEMS) and portable emission monitoring system (PEMS). The continuous emission monitoring system (CEMS) segment held a larger Emission Monitoring System market share in 2023.

The scope of the Emission Monitoring System market report focuses on North America (US, Canada, and Mexico), Europe (Spain, UK, Germany, France, Italy, and Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Taiwan, and Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America). North America dominated the market in 2023, followed by Europe and Asia Pacific.  

North America holds a significant Emission Monitoring System market share. North America is a primary consumer of Emission Monitoring System, owing to the stringent regulatory policies for managing environmental quality and public health, growing awareness about air quality, rising adoption of corporate sustainability goals by various companies, and the presence of key market players. A few of these market players include Horiba, ABB, Duke Energy Corporation, and Siemens.

The Europe Emission Monitoring System market is driven by the presence of companies adopting sustainability goals to comply with the stringent government policies to reduce greenhouse gas emissions by automotive and energy sectors in the region. Germany, France, and a few other countries in Europe are actively implementing various policies to decrease greenhouse gas emissions, including methane and CO2. Germany reduced its greenhouse gas emissions by 10% in 2023 compared to the previous year, and the government of Germany has set goals to reduce emissions to ~65% and 88% by 2030 and 2040, respectively. Also, the country has aimed for net-negative emissions post-2050. Similarly, the Ministry of French Environment announced in 2023 that the greenhouse gas emissions in the country had declined by 4.8% in 2023 compared to 2.7% in 2022. These countries are implementing comprehensive frameworks such as the European Green Deal, the EU Methane Strategy and other targeted strategies, and Carbon Pricing Mechanisms to work toward a sustainable and climate-neutral future and other sector-specific regulations. Such government initiatives to reduce the emissions of harmful gases, including methane, CO2, and other greenhouse gases, are likely to boost the demand for Emission Monitoring System among the companies operating in the oil & gas, automotive, and energy sectors in Europe.

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