Predictive Emission Monitoring System Market 2021 Segmentation & Analysis
The global predictive emission monitoring system market is expected to grow from USD 1.63 billion in 2018 to USD 2.98 Billion by 2024, at a CAGR of 10.9%, during the forecast period.
Predictive emission monitoring systems (PMS) are software-based solutions used to provide accurate and reliable real-time estimations related to emission. PEMS utilize various mathematical models which use process parameters such as flow, temperature, and pressure as input variables. The continuous emission monitoring systems (CEMS), on the other hand, are hardware-based systems which are used in a number of manufacturing plants. PEMS is an effective alternative of CEMS that are adopted by most environmental regulators for recording and monitoring plant emissions.
Increased environmental awareness and stringent environmental regulations are expected to drive the growth of the Predictive Emission Monitoring System Market during the forecast period. However, the high cost of deployment and integration with the existing systems is expected to limit the market during the forecast period.
Predictive emission monitoring system is a unified system of gas sampling systems, gas analyzers, temperature, and flow and opacity monitors that are integrated with a data acquisition systems. This technique is based on the information gathered to predict the level of concentration of pollutant depending on physical variables which characterizes the emission releasing process. Complying with the local environmental regulations, PEM systems can be deployed as the primary monitoring source of emission values and back-up for traditional analytical instrumentation to increase operating availability of existing emission monitoring systems.
The players of the market primarily focus on growth strategies such as partnerships, mergers, acquisitions, and new product development to enhance their product offerings and expand their market reach. ABB Ltd, Emerson Electric Co., and General Electric Company, and Siemens AG are some of the major players in the PEMS market.
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The prominent players in the PEMS market are ABB Ltd (Switzerland), General Electric Company (US), Siemens AG (Germany), Rockwell Automation (US), Thermo Fisher Scientific (US), CMC Solutions (US), Fuji Electric Co., Ltd (Japan), Teledyne Technologies, Inc. (US), Parker Hannifin Corporation (US), and AMETEK, Inc. (US).
Global Predictive Emission Monitoring System (PEMS) Market – Segmentations
According to Market Research Future, the market for PEMS has been segmented on the basis of component, deployment, industry, and region.
Predictive emission monitoring system (PEMS) are used by software analyzers to provide reliable and real-time approximation of emission properties. PEMS have primary applications across the oil & gas, petrochemicals, and refineries, & fertilizers industries. These systems are typically used inboilers, furnaces, gas turbines, and internal combustion engines. PEMS are perfectly suited for to estimate all the the most common pollutant SO2, CO, CO2, and NOx from the process industry. Currently, PEMS is widely used in Asia-Pacific, Eurpoe, and North America.
Based on component, the market has been segmented into solution and services. The software segment is further segmented into real-time emission monitoring, periodic analyzers, recalibration software, and sensor validation software/system. The services segment has been further segmented into installation, training, and maintenance. Real-time emission monitoring segment is expected to dominate the software segment during the forecast period.
Based on deployment, the market has been segmented into on-premise and on-line. The on-premise segment is expected to dominate the deployment segment during the forecast period.
Based on industry, the market has been segmented into power plants & combustion, oil & gas, chemicals, petrochemicals, refineries, & fertilizers, building materials, pulp & paper, pharmaceuticals, metal, mining, marine & shipping, and waste incineration. Oil & gas is expected to dominate the industry segment during the forecast period.
Global Predictive Emission Monitoring System (PEMS) Market – Regional Analysis
The global PEMS market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to grow at highest CAGR during the forecast period due to early adoption of emerging technologies, the presence of global players, and suitable infrastructure. However, the market in Asia-Pacific is expected to dominate the PEMS market during the forecast period. The rapid industrialization in India and China is expected to drive the PEMS market in Asia-Pacific during the forecast period. The major countries identified to witness high growth in Asia-Pacific are China, Japan, India, and South Korea.
Europe is expected to grow at a stable rate during the forecast period due to the changing government rules and regulations related to air and water pollution.
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