The Industrial Emission Control Systems Market Report, issued by Allied Market Research, predicts the sector will amass $21,133 million by 2022. The report offers a detailed review of current behaviors and future trends within the sector, highlighting investment opportunities, market dynamics, and technological innovations. But what are the key factors driving the Global Industrial Emission Control Systems market, and what do these projections mean for the industry moving forward?
What does the report cover?
The report reviews swathes of historical and current data from all corners of the industry. Research into the production, consumption, revenue, market share, and growth rate in North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa) forms the basis of the report. The data is then carefully analyzed to forecast trends.
Products are split into categories to better analyze the impact of growth on each sector. Data on the production, revenue, price, market share, and growth rates of products is segmented into the following categories:
- Electrostatic precipitators (ESPs)
- Fabric filters
- Scrubbers
- Cyclone separators
- Thermal oxidizers
- Catalytic reactors
- Others
What do these projections mean for the industry?
The report places the industry’s CAGR (compound annual growth rate) at 8.2% between 2016 and 2022. This growth is due to a variety of key factors both within and outside of the sector’s control.
Increased Regulations
One of the reasons for such unprecedented growth is the increase in government regulations for industries that produce harmful pollutants. Since the Clean Air Act of 1970, the Environmental Protection Agency (EPA) has issued strict regulations on facilities that emit volatile organic compounds (VOCs) and other harmful chemicals.
Due to the growing concern surrounding climate change—and subsequent plans to lower state and national emission levels—industries have begun to reevaluate their pollution control systems. For example, California successfully reduced its overall emissions by 2016 to meet the state’s greenhouse gas (GHG) target of 1990 levels by 2020, which inspired a new, steeper target of 40% lower than 1990 levels by 2030.
ESP Development
Another key factor driving growth is the popularity of ESPs. The power industry—specifically coal and thermal power plants—accounts for the majority of emissions across all source types. These sources release high levels of VOCs into the atmosphere and must curb their emissions dramatically to meet EPA guidelines. The Industrial Emission Control Systems Market Report projected ESPs would dominate the market by 2022. This may be due to their lower operating costs and flexible temperature ranges. As a result, the industry may see a focus on complex, cost-effective filtration technology to eliminate higher levels of VOCs during the manufacturing process.
Moving Forward
As industries face stricter regulations, emission control systems must be designed to meet those limits. As technologies are continually developed, those at the forefront of custom, efficient design will fare well in the marketplace.
Although interest in renewable energy sources has increased over recent decades, the effort to retrofit and reduce emissions in current coal-fired plants has helped invigorate the emission control industry. The installation of new coal-fired plants and the increase in demand for retrofit services will continue to boost revenue for the emission control sector.
A new report published by Allied Market Research, titled, "Industrial Emission Control Systems Market: Global Opportunity Analysis and Industry Forecast, 2014-2022," projects that the global industrial emission control systems market is expected to reach $21,133 million by 2022. Electrostatic precipitators (ESP) are estimated to dominate the market from 2015 to 2022. Asia-Pacific led the market, accounting for around 40% of the global market in 2015.
Summary of the Industrial Emission Control Systems Market Report can be accessed on the website at https://www.alliedmarketresearch.com/industrial-emission-control-systems-market
Emission control systems are devices that monitor and diminish the hazardous products, which are released into the atmosphere by combustion and other emission processes in the industrial environment. Emission sources such as power plants, cement, mining & metals, and chemical industries utilize these equipment to convert such air contaminants into water vapor and carbon dioxide, which can be safely released into the atmosphere. The global market for industrial emission control systems is driven by the stringent environmental regulation standards, rapid industrialization, growth in coal power industry in developing countries and cement industry, and adoption of stringent mercury emission regulations. However, the market growth is limited by the increase in use of alternate fuels for power generation and decrease in investment in coal power sector from developed countries such as the U.S. and other European countries.
The global market based on equipment type is segmented into electrostatic precipitators (ESPs), fabric filters, scrubbers, cyclone separators, thermal oxidizers, catalytic reactors, and others. Among these, ESPs dominated of the market with around 34.3% share. High adoption rate of these equipment is due to their low operating costs, high efficiencies, and temperature flexibility. The market for ESPs is projected to grow at a CAGR of 8.2% over the forecast period.
Based on the emission source type, it is divided into power generation, chemical, cement, mining & metals, pulp & paper, manufacturing, and others. Power generation was estimated to be the most dominant emission source, and may retain its lead in the future. Coal-fired power plants have the highest pollutant emission rates among all the industrial sources. These plants release harmful air pollutants such as sulphur dioxide (SO2), nitrogen oxides (NOX), particulate matter, and others, which are being controlled by use of advance emission control technologies. The growth in the market for power generation segment is driven by installation of new power plants and retrofit activities in existing plants.
The global market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the most dominant market in 2015, and is expected to continue to its this trend throughout the forecast period. In this region, major downstream industries such as power generation, building materials, chemicals, and pulp & paper have created high demand for extraction, desulphurization, and emission control equipment. The market in Asia-Pacific is dominated by China, which witnessed rapid development in the past few years due to the high level technology, booming downstream industries, and increasingly stringent regulations.
"Regulatory agencies such as EPA have placed strict regulations on acceptable levels of gaseous and particulate emissions that can be released into the atmosphere. The need for complying with these regulations has forced industries such as power generation, chemical, cement, and other industries to employ these systems and decrease the harmful byproducts. Also, increasing regulations on mercury emission across U.S. and China present an opportunity for further growth in the market over the forecast period," states Deepankar Bose, Manager, Research, Construction and Manufacturing at AMR.
Asia-Pacific is estimated to be the fastest growing regional market for industrial emission control systems, owing to growth in the Chinese and Indian markets. This is expected to be attributable to growth in power generation sector and government initiatives in infrastructure and urban development, which drive the cement industry.
Key findings of the study:
In 2015, ESPs led the overall market revenue, and are projected to grow at a CAGR of 8.2% during the forecast period.
The thermal oxidizers segment is expected to grow at a significant CAGR of 9.2% owing to their ability to destroy odors and toxic VOCs and operate at high efficiencies.
Cement industry segment is projected to grow at a CAGR of 8.3%.
China is the major shareholder, accounting for around three-fourths of the Asia-Pacific industrial emission control systems market.
The key players in the industrial emission control systems focus on expanding their business operations in fast-growing emerging countries and adopt acquisition as their key growth strategy. The major players profiled in this report include 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.
Summary of Similar Reports can be viewed at https://www.alliedmarketresearch.com/construction-&-manufacturing-market-report
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