Northbrook, IL 60062 -- (SBWIRE) -- 11/04/2022 -- The Emission Monitoring System (EMS) Market is projected to grow from USD 3.0 billion in 2022 to USD 4.5 billion by 2027; it is expected to grow at a CAGR of 8.8% from 2022 to 2027. The key factors fueling the growth of the market include high dependency of countries worldwide on coal-fired power plants to generate electricity, and stringent emission norms and standards enforced by North American and European governments. Additionally, increased need for environmental protection is also augmenting the growth of the EMS market.
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The hardware segment to hold the largest size of the EMS market by 2027
The growth of the hardware EMS market can be attributed as they are used in both CEMS and PEMS to collect emissions data. The CEMS functions through its hardware components, whereas the PEMS is a software-powered system and uses hardware components like sensors to predict gas emissions. Hardware-based continuous emission monitoring systems boost the demand for hardware devices as the majority of plants have installed continuous emission monitoring systems.
The CEMS to account for the largest size of the EMS market in 2022
CEMS are used for collecting data regarding emission levels of gases from various industries, such as power generation, oil & gas, chemicals, and waste incineration. Moreover, an increase in the number of stringent rules and regulations regarding pollution monitoring across industries is expected to create demand for CEMS.
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APAC projected to be the largest market for EMS from 2022 to 2027
Asia APAC is projected to hold the largest size of the EMS market during the forecast period. China and India are the major contributors to the EMS market growth in APAC. It can also be attributed to the growing power generation and chemicals industries, which are the key users of emission monitoring systems, in the region. Moreover, the increasing capacities of coal-fired power plants is another reason for the growing demand for emission monitoring systems. COVID-19 forced lockdowns across APAC. Supply chains in and around APAC were disrupted owing to only limited permissible transportation. Under lockdown, Asian countries suffered tremendous loss of business and revenue due to the shutdown of many manufacturing units.
A few of the key players in the EMS market are ABB Ltd. (Switzerland), AMETEK, Inc. (US), Emerson Electric Company (US), Baker Hughes (US), Siemens AG (Germany), Parker-Hannifin (US), Rockwell Automation (US), SICK (Germany), Teledyne Technologies, Inc. (US), and Thermo Fisher Scientific Inc. (US).