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(IT-NEWSWIRE.COM, October 11, 2019 ) The emission monitoring systems market size was valued at USD 2.18 Billion in 2017 and is expected to grow at a CAGR of 9.3% as per a report by MarketsandMarkets.
Why product innovation acts as an opportunity for manufacturers?
In recent years, the emission monitoring ecosystem has witnessed a lot of product innovations. For instance, in July 2017, Emerson launched Rosemount CT5800, industry’s first continuous gas analyzer with quantum cascade laser. The CT5800 gas analyzer can measure up to 12 components with minimum calibration requirements, reducing the need for multiple analyzers. Furthermore, in September 2016, AMETEK launched an updated version of Lancom 4 portable gas analyzer. Lancom 4 is renowned as the world’s most accurate portable flue gas analyzer. The analyzer is able to monitor up to 9 different gases and includes 17 measurement parameters. Manufacturers of emission monitoring systems focus on product innovations to strengthen their product offerings and increase their customer base. This presents an attractive growth opportunity for manufacturers in the emission monitoring systems market.
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Why compliance with EPA guidelines remains a major challenge?
The US Environmental Protection Agency (EPA) was formed with an objective of protecting human health and environment by formulating and enforcing regulations. Regulations that are mandated for emission monitoring are being made stringent to improve the quality of air. The EPA’s Air Pollution and Clean Air Act has set a limit on in-stack emission of pollutant concentrations at the point of release. Industries such as oil & gas, power plants, and building materials are required to maintain the emission monitoring standards on a continuous basis to have an operating license. Under EPA regulations, the implementation of CEMS is required for continual compliance determination or determination of exceedance of standards. The non-compliance of regulations by industries can result in increased scrutiny by regulators, steep fines, or even plant shutdown. Furthermore, manufacturers have to design CEMS or PEMS in compliance with the standards set by EPA.
Increasing awareness about environmental protection needs
Cement, oil & gas, and power plants and combustion industries, among others, emit tons of hazardous gases that impact the environment and human health. Governments of many countries are undertaking environmental regulation policies and initiating environment protection acts to protect the environment and sustain human life and natural resources. Such regulations lead to the implementation of emission monitoring systems in industries to limit and measure the emission of hazardous gases. Governments are also enforcing industries to keep track on emission rates using continuous emission monitoring systems (CEMSs) and predictive emission monitoring systems (PEMSs).
High cost of CEMS for regular maintenance
CEMS is a hardware-based emission monitoring system, which collects data with the help of gas analyzers and sensors. Oil & gas and petrochemicals plants operate in extreme environments and require sophisticated emission monitoring systems to monitor emissions. Manufacturers need regular maintenance of CEMSs to keep them operational 24 hours a day and obtain a high level of reliability.
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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
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USA : 1-888-600-6441
sales@marketsandmarkets.com
MarketsandMarkets™
Mr. Shelly Singh
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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