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The Emission Monitoring System market size is expected to reach US$ 7.47 billion by 2031 from US$ 3.61 billion in 2023. The market is estimated to record a CAGR of 9.5% from 2023 to 2031. The growing importance of Emission Monitoring System in the marine sector is likely to remain a key market trend.
Emission Monitoring System Market Analysis
Emission monitoring technology is currently witnessing a period of robust growth and development across multiple industries, including automotive, oil & gas, power generation, and chemicals. These industries are witnessing substantial investments from the private and public sectors, with many planned projects in the development stages. In specific, the automotive industry is undergoing substantial growth. This will continue, specifically with the government initiatives and funding for infrastructure development to incorporate autonomous vehicle technology. The emission monitoring system market outlook continues to be positive since this technology is well-positioned to serve the growing requirements for managing emissions of end users, such as oil & gas, utilities, construction, and manufacturing. The marine vessel and mining sectors are two prominent application areas of Emission Monitoring System. Aviation, pharmaceuticals, waste processing, and pulp & paper industries have also contributed a significant share of carbon emissions across the globe in every past decade. Most of these industries mandate government regulations that are associated with the reduction of carbon emissions from the respective industries' operations. Such factors are contributing to the demand for Emission Monitoring System worldwide.
Emission Monitoring System Market Overview
The Emission Monitoring System market growth is attributed to the growing concern for rising environmental pollution levels from toxic gases from oil & gas, utility, automotive, mining, construction, marine, and manufacturing industries. In addition, the increasing urbanization boosts the demand for Emission Monitoring System. The increase in substantial investments in the automotive sector boosts the emission monitoring market growth. Additionally, the growing adoption of Emission Monitoring System across the mining and chemicals sectors is projected to fuel the growth of the emission monitoring system market across the globe.
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Emission Monitoring System Market: Strategic Insights
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Emission Monitoring System Market: Strategic Insights
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Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Emission Monitoring System Market Drivers and Opportunities
Emphasis on Air Quality Maintenance
Airborne pollution is considered a health concern globally. The emphasis on air quality maintenance across different nations fuels the demand for Emission Monitoring System worldwide. The Environmental Protection Agency (EPA) phased out lead in motor vehicle gasoline under Clean Air Act authority in order to meet the US air quality standards, excluding areas near certain large lead-emitting industrial facilities. The harmful impact of lead emissions is linked with neurological consequences in children, such as behavioral problems, lowered IQ, and learning deficits, and high blood pressure and heart disease in adults.
The rising concern about the harmful environmental impact of toxic gases drives the application of Emission Monitoring System worldwide. The EPA promotes and supports area-wide air toxics strategies of state, tribal, and local agencies through national, regional, and community-based initiatives across the US. In India, the government has adopted several measures to improve air quality, foster green cover, and improve citizens' quality of life. Thus, the growing government focus on mitigating the environmental impact of harmful gases and reducing air pollution is acting as a major driver for the emission monitoring system market globally.
Development in Oil & Gas Sector
The demand for oil and gas has grown substantially across the globe. Countries such as the US, China, India, Vietnam, and South Korea are showcasing huge demand for crude oil owing to the continuous development in their manufacturing sectors, supported by favorable financial conditions and government policies and a surge in investments in the oil & gas sector. In November 2021, Equinor, a petroleum refining company, announced an investment of US$ 8.8 billion for the development of Wisting petroleum discovery in the Arctic Barents Sea, the northernmost oilfield of the world. Also, Petróleo Brasileiro S.A. has initiated an investment of US$ 68 billion for managing production at the offshore fields in the subsea pre-salt area from 2022 to 2026. The Qatar government has announced its plans to increase its LNG production by ~40% to ~110 million metric tons per annum by 2026. The government of Russia has also announced its strategy to escalate the LNG production capacity to ~140 million tons per year by 2035. Moreover, with the ever-increasing emphasis on reducing carbon emissions, governments of several nations are supporting gas-powered power plants over coal-powered power plants, as natural gas emits less carbon than coal. The emission monitoring system plays a crucial role in the oil & gas industry to monitor and manage the emissions from the oil & gas exploration and production operations. Thus, the increase in demand for natural gas and the evolution in the oil & gas sector are expected to provide growth opportunities to the emission monitoring system market.
Emission Monitoring System Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Emission Monitoring System market analysis are 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.
- Based on technology, the emission monitoring system market has been segmented into catalytic bead, infrared sensor technology, electrochemical sensors, photoionization detectors (PID), and others. The electrochemical sensor segment held the largest Emission Monitoring System market share in 2023.
- Based on type, the emission monitoring system market has been segmented into methane gas detectors, CO2 gas detectors, oxygen gas detectors, and others. The CO2 gas detectors segment held the largest Emission Monitoring System market share in 2023.
- Based on end user, the emission monitoring system market is segmented into marine vessels, oil & gas, chemicals, automotive, power generation, and others. The oil and gas segment held the largest Emission Monitoring System market share in 2023.
Emission Monitoring System Market Share Analysis by Geography
The Emission Monitoring System market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America dominated the market in 2023, followed by Europe and Asia Pacific.
The Environmental Protection Agency (EPA) has set strict regulations and standards in regard to greenhouse gases, particularly programs such as the Greenhouse Gas Reporting Program. Companies operating in the petroleum sector will need monitoring systems to adhere to the required standards, avoiding sanctions. In December 2023, The US EPA announced a final rule to lower methane and other harmful air pollutants generated by the oil and natural gas industry nationwide. The rule aims to promote the use of advanced methane detection technologies; it is expected to prevent approximately 58 million tons of methane emissions from 2024 to 2038, or 1.5 billion metric tons of carbon dioxide. By 2030, the reductions are anticipated to reach 130 million metric tons of carbon dioxide. The rule is projected to achieve a ~80% reduction in methane emissions by 2038.
China and Japan are major contributors to the Asia Pacific Emission Monitoring System market. These countries record significant amounts of emissions. With the growing awareness initiatives to combat climate change and promote sustainability, the governments of various countries in Asia Pacific are implementing strict laws aimed at lowering greenhouse gas emissions, including methane and carbon dioxide.
Emission Monitoring System Market Report Scope
Emission Monitoring System Market News and Recent Developments
The Emission Monitoring System market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Emission Monitoring System market are listed below:
- Caerus Oil and Gas announced its collaboration with Qube Technologies, which is a milestone in its commitment to sustainable energy development. After a comprehensive pilot, Caerus has decided to deploy Qube's advanced continuous monitoring technology across 50 sites in Colorado's Piceance basin. This initiative highlights Caerus's dedication to environmental leadership and marks a significant step forward in the adoption of cleaner energy practices.
(Source: Qube Technologies, Press Release, May 2024)
- HORIBA, Ltd., a global leader in analytical and measurement technologies, proudly announces the launch of its groundbreaking AP-380 series of analyzers, catering to diverse air quality monitoring needs. The AP-380 series offers a comprehensive lineup of five models, each tailored to address specific trace gas monitoring requirements. These cutting-edge models include APMA-380 for carbon monoxide, APSA-380 for sulfur dioxide, APOA-380 for ozone, APNA-380 for nitrogen oxides, and APHA-380 for hydrocarbon trace gas monitoring.
(Source: HORIBA, Ltd., Press Release, January 2024)
Emission Monitoring System Market Report Coverage and Deliverables
The "Emission Monitoring System Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:
- Emission Monitoring System market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Emission Monitoring System market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Emission Monitoring System market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Emission Monitoring System market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The oil and gas segment led the Emission monitoring system market with a significant share in 2023.
The Emission monitoring system market is expected to reach US$ 7.47 billion by 2031.
Asia Pacific is anticipated to grow at the fastest CAGR over the forecast period.
Growing importance of emission monitoring systems in marine sector is expected to drive the growth of the emission monitoring system market in the coming years.
The key players operating in the Emission monitoring system market include 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, Qube Technology.
Emphasis on air quality maintenance and significance of emission monitoring systems in industrial sectors, and extensive applications of emission monitoring systems in automotive industry are the major drivers of emission monitoring market.
The emission monitoring system market valued at US$ 3.61 billion in 2023 and is anticipated to grow at a CAGR of 9.5% over the forecast period.
The List of Companies - Emission Monitoring System Market
- 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
- Qube Technology
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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