The global management of atmospheric emission is creating new market opportunities for the emission management solution providers. The evolution of advanced emission control technologies such as catalytic converters, particulate filters, traps & adsorbers, and substrates are playing a crucial role in driving the growth of emissions management market. Most of the countries are adopting emissions management for emission control through various sources in for environmental analysis. Also, emissions management provide complete emission management and streamline the process of collecting and calculating the emission data.
The emissions management helps companies to manage air quality requirements from advanced emission source modeling and calculation, to emissions forecasting and scenario analysis. Several innovations and technological advances in emission control and environmental control have generated the need for emissions management adoption across various countries. In parallel, government policies for emission control in most of the countries is projected to drive the growth of the emission management market worldwide.
Emissions Management Market: Drivers and Challenges
Drivers: The rising need for emission control is fuelling the growth of the global emission management market. The implementation of stringent environmental quality control norms by developed nations boosts the adoption of emission management in the short term, and eventually, the developing nations are also expected to implement similar norms that are likely to increase the market demand for emission management solutions in the long run. In parallel, due to increasing air toxins from industries, emission control regulations have increased worldwide. These factors are creating potential growth opportunities for the emission management solution providers globally.
Apart from this, government regulatory agencies such as Environmental Protection Association (EPA) are strengthen the limitations on the emission levels. These regulations has led industries to increase their usage of emission management systems. Such factors are fueling the growth of the emission management market across the globe.
Challenges: The high investment cost is one of the major factor which may hinder the growth of emissions management market in near future. Moreover, the interoperability and compatibility issues are some of the factors which may limit the adoption of emissions management across the globe during the forecast period.
Emissions Management Market: Segmentation: Segmentation of Emissions Management Market on the basis of Component: Software, Hardware, Services
In 2017, the software sub-segment was held the maximum market share of emission management market, due to advancement in IT technologies. The hardware segment is also projected to register a high growth rate for the global emission management market.
Segmentation of Emissions Management Market on the basis of Deployment: On-premise, Cloud; Segmentation of Emissions Management Market on the basis of End-User: Large Enterprisers, Small and Medium Enterprises; Segmentation of Emissions Management Market on the basis of Vertical: Oil & Gas, Food & Beverages, Power Generation, Chemical & Mining, Leather & Textile, Coal & Mining, Others
Due to rapid technological advancements, the power generation sub-segment of emission management market is expected to register more that 10.4% CAGR for the global emission management market. The oil & gas sub-segment is expected to hold maximum market share in 2018 for the global emission management market.
Emissions Management Market: Competition Landscape: Key Players: The Prominent players in emissions management market are General Electric Company, Mitsubishi Hitachi Power Systems Ltd., Fujian Longking Co., Ltd, Johnson Matthey PLC, Ducon Technologies Inc., Babcock & Wilcox Co., AMEC Foster Wheeler PLC, CECO Environmental Corp, Hamon Corporation, Thermax Ltd, and BASF SE. and others emissions management solutions and services providers.
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