Global Industrial Emission Control Systems Market: Snapshot
The world industrial emission control systems market is prophesied to expand rapidly on account of a high global demand for power and mounting industrialization coupled by predominant enforcement of stringent regulations by environmental regulatory and government bodies. Regulations pertaining to the emission of harmful gases such as sulfur dioxide and nitrogen oxide and particulate matters are expected to make it obligatory on the part of several industries to conform to local and international emission standards. The world industrial emission control systems market could also gain impetus from increasing global trade and aggressive industrialization in emerging economies.
By 2023, the world industrial emission control systems market is prognosticated to showcase a significant improvement in revenue valuation by raking in a US$22.09 bn. In 2016, a valuation of US$13.44 bn was earned by the world industrial emission control systems market. During the forecast period 2015–2023, the world industrial emission control systems market could register a 7.3% CAGR.
Rapid Establishment of Power Plants Raises Environmental Concerns
Amongst the top four and other emission sources, power plants are predicted to reserve a commanding share of US$9.7 bn in the international industrial emission control systems market by the final forecast year. Alarming environmental concerns have raised eyebrows due to an influential rise in power demand and industrialization, especially in developing countries. As the domestic manufacturing industry of emerging regions has begun to develop, stringent regulatory structures have taken shape to address the need for reducing industrial emission.
The marine industry is also anticipated to make its substantial contribution to the international industrial emission control systems market because of the surge in global trade. A convincing inflow of investments could be triggered due to the maturation of the international industrial emission control systems market in response to the evolving characteristic of government regulations.
The chemical process industry and power plants are envisaged to register an impressive combined share during the course of the forecast period. Favorable growth of industries in developing countries and maturing industrial hubs worldwide could improve the chances of the establishment of a rocketing count of power plants on a global platform. Moreover, the introduction of new coal-fired power plants is foretold to bolster the demand in the international industrial emission control systems market. A leading measure of power generation via thermal coal-fired power plants could be witnessed in China and India, the two major manufacturing hubs of the world.
Asia Pacific Takes Driver’s Seat with Advent of Coal-fired Power Plants
Asia Pacific is projected to take the charge in the worldwide industrial emission control systems market on the back of a boosted installation count, swift industrialization, and regulations laid down by different government organizations. The development of coal-fired power plants has particularly gained prominence in the region due to the shortage of developed renewable energy infrastructure. Furthermore, power plants in Asia Pacific are experiencing tremendous pressure from growing population. All of these factors are forecasted to escalate the share of Asia Pacific to 39.58% in the worldwide industrial emission control systems market.
Followed by North America, Asia Pacific could maintain the demand in the worldwide industrial emission control systems market while riding on emerging countries creating tight emission regulations and all-embracing emission standards. Participants are foreseen to sustain their profitability in the worldwide industrial emission control systems market with the involvement of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) in the formulation of strict regulatory criteria. Countries such as Indonesia and Thailand besides China and India could magnify the demand in Asia Pacific with their rising need for electricity.
This research study analyzes the market for industrial emission control systems in terms of revenue (US$ Mn). The industrial emission control systems market has been segmented on the basis of emission source, type of emission control device, and geography. The geographical segmentation includes regions which are further divided into eight countries (major players in the global industrial emission control systems market). For the research, 2014 has been taken as the base year, while all forecasts have been given for the period from 2015 to 2023. Market data for all the segments has been provided at the regional as well as country-specific level from 2015 to 2023. The report provides a broad competitive analysis of companies engaged in the industrial emission control systems business. The report also includes the key market dynamics such as drivers, restraints, and opportunities affecting the global industrial emission control systems market. These market dynamics were analyzed in detail and are illustrated in the report with the help of supporting graphs and tables. The report also provides a comprehensive analysis of the global industrial emission control systems market with the help of Porter’s Five Forces model. This analysis helps in understanding the five major forces that affect the structure and profitability of the global industrial emission control systems market. The forces analyzed are bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and degree of competition.
The high-level analysis in the report provides detailed insights into the industrial emission control systems business globally. There are currently numerous drivers of the market. The most prominent drivers include stringent government regulations and emission standards, and growing demand for power in the wake of industrialization in the emerging markets. Market attractiveness analysis was carried out for the industrial emission control systems market on the basis of end-use. Market attractiveness was estimated on the basis of common parameters that directly impact the market in different regions.
The industrial emission control systems market was segmented on the basis of emission source (power plants, chemical process industry, marine industry, waste to energy industry, and other industries), device type (electrostatic precipitators, catalytic reactors, incinerators, filters, and others), and geography. The industrial emission control systems market was analyzed across four geographies: North America, Asia Pacific, Europe, and Rest of the World (the Middle East, South America, and Africa). Regional data has been provided for each sub-segment of the industrial emission control systems market. Key players in the industrial emission control systems market include Alstom Group, Babcock & Wilcox Enterprises Inc., GEA Group AG, Johnson Matthey PLC, Mitsubishi Hitachi Power Systems Limited (MHPS), CECO Environmental Corp., and BASF Catalysts LLC. The report provides an overview of these companies, followed by their financial details, business strategies, and recent developments.
Industrial Emission Control Systems Market: By Emission Source
- Power Plants
- Chemical Process Industry
- Marine Industry
- Waste to Energy Industry
- Other Industries
Industrial Emission Control Systems Market: By Device Type
- Electrostatic Precipitators
- Catalytic Reactors
Industrial Emission Control Systems Market: By Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World