According to our latest study on "Emission Monitoring System Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Functionality, Technology, Type, End User," the Emission Monitoring System market size 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 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 respectively. The Europe Emission Monitoring System market is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. In terms of revenue, Germany dominated the Emission Monitoring System market share. Germany reduced its greenhouse gas emissions by 10% in 2023 compared to the previous year. The country further aims to reach net GHG neutrality by 2045. However, 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. The automotive industry has been emerging as one of the fastest-growing industries in terms of reducing emissions worldwide. Several vehicle manufacturers have been focusing on reducing their capacity to generate carbon emissions on a per-vehicle manufactured basis. Further, Germany has also been focusing on reducing its emissions from the electricity generation process. For instance, in 2010, the total greenhouse gas emissions from power generation in Germany was ~450 gCO2e/kWh, which has been reduced to approximately 350 gCO2e/kWh. Such factors have been generating the demand for different types of Emission Monitoring System to monitor and control the emissions released from different industry verticals across the country.

China is one of the largest emission-releasing countries worldwide and ranks among the top 5 countries in terms of emissions. The country is strongly focusing on the development of clean energy infrastructure to reduce the amount of emissions being released every year across Asia Pacific. In 2023, the GHG emissions across China were extremely high compared to previous years, owing to a rebound in economic activities post-COVID-19 pandemic. It is projected that China is likely to reduce its GHG emissions in the coming years at a rapid pace owing to its high focus on the installation of clean/green energy generation sources. China has been installing renewable energy sources and has already completed the wind and solar installation targets of 2030 by capacity, which is approximately six years ahead of its schedule. This shows China's focus on controlling and reducing fossil fuel dependence and shifting to clean energy for different industries. Such factors are likely to reduce the country's dependence on fossil fuel-based energy sources. This is further expected to boost the demand for emission monitoring and control solutions in the coming years.

Key Findings of Emission Monitoring System Market Study:

The Emission Monitoring System market is segmented on the basis of functionality, technology, application, and end user. Based on functionality, the emission monitoring system market is divided into a continuous emission monitoring system (CEMS) and a portable emission monitoring system (PEMS). The market, in terms of technology, is categorized into catalytic bead, infrared sensor technology, electrochemical sensors, photoionization detectors (PID), and others. Based on application, the emission monitoring system market is segmented into methane gas detectors, CO2 gas detectors, oxygen gas detectors, and others. The market, in terms of end user, is categorized into marine vessels, oil & gas, chemicals, automotive, power generation, and others. By geography, the Emission Monitoring System market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South & Central America.

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 Infrared (IR) sensor technology segment held the largest Emission Monitoring System market share in 2023. Infrared (IR) sensor technology is used to identify specific gases that absorb IR radiations. Warmer greenhouse gases emit infrared radiation. Gases such as carbon oxides (CO and CO2) and methane absorb infrared radiation. Hence, the end users utilize Emission Monitoring System with IR technology to identify the amounts of gases such as methane and carbon oxides in the air. The rise in government initiatives across several industries to reduce carbon emissions from the environment is one of the major factors driving the demand for IR sensor technology in the emission monitoring system market. Companies such as Protea Ltd, Thermo Fisher Scientific Inc, and ABB Ltd offer infrared sensor technologies for emission monitoring applications across different regions. Further, the demand for products such as Fourier-transform infrared (FTIR) and non-dispersive infrared (NDIR) detectors is another major factor driving the growth of the infrared sensor technology segment in the 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 are among the key players profiled in the Emission Monitoring System market report. Several other major players were studied and analyzed during the Emission Monitoring System market analysis to get a holistic view of the market and its ecosystem. The Emission Monitoring System market also provides detailed market insights, which help the key players strategize their growth. The report includes growth prospects owing to the current Emission Monitoring System market trends and their foreseeable impact during the forecast period.

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