Industrial Emission Control Systems Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Industrial Emission Control Systems Market: Overview
The global market for industrial emission control systems is witnessing a high growth in the recent past on account of growing stringency of environmental regulation standards. The growth of the coal power industry in developed nations will also help drive the growth of the industrial emission control systems market. The flourishing construction industry is driving the growth of the cement industry and this in turn will aid the growth of the global industrial emission control systems market. Rapid industrialization has fueled environmental concerns as global warming is posing serious issues and our future could be at stake. Thus, global warming has become a focal point of global geopolitics and industries worldwide are working towards implementing emission control systems to adhere to stringent regulations. This is one of the most important drivers for the growth of the global industrial emission control systems.
Some of the factors restraining the demand for industrial emission control systems include the growing preference for alternate fuels for power generation in a bid to reduce dependency on coal, in developed nations of Europe and the U.S. However the increasing prevalence of health issues on account of the industrial emissions will ensure the demand for industrial emission control systems. In addition to this, replacement of older devices which control emissions will create a heightened demand for these systems and push the growth of the market. The demand for energy is increasing with rising population and this will drive the coal power industry, which in turn will enhance the growth prospects of this market.
Global Industrial Emission Control Systems Market: Snapshot
The sources of static pollution in industries are refineries, cement plants, power plants, and smelters. They release harmful contaminants into the atmosphere, thus polluting it. These contaminants are required to be controlled employing various effective technologies. These systems are known for destroying the contaminants produced either by catalytic or thermal combustion or by converting toxic contents into less harmful chemicals. These processes are done by the use of processes such as selective catalytic reduction. Industrial emission control systems keep a check on the level of emissions from industries by employing different technologies based on the type of contaminant emitted from the source and the level of efficiency required. Rising levels of nitrogen oxide, sulfur dioxide, and harmful particulate emissions have triggered alarms in order to prevent environmental damages. As a result of this, the adoption of industrial emission control systems took a boost.
In 2016, WHO stated in a report that 80% of the people living in urban areas are exposed to air quality levels that surpass the World Health Organization limits. According to the air quality database, around 98% of cities in middle and low income countries do not meet the air quality guidelines of WHO. However, in high income nations, the percentage is around 56%.
Global Industrial Emission Control Systems Market: Trends and Prospects
Environmental concerns owing to robust industrialization coupled with the risks of global warming have given rise to issues for sustainable development in future. Global warming has turned out to be the main focus of global geopolitics. As a result of this, industries across the globe are striving towards installing emission control systems in order to adhere to strict regulations imposed by governing and organizational bodies pertaining to the negative impact that the emission of harmful wastes has on the environment. It has become imperative for industries to deploy technologies that perform elimination, conversion, and collection of harmful substances emitted by industries. Thus, this has stimulated the growth of the global industrial emission control systems market. Furthermore, as governments across the globe are striving to decrease the damage caused by industrial emissions, they are collaborating with several environmental organizations in order to develop standards to manage the level of emissions from industries. This is further expected to trigger the demand for industrial control systems.
Global Industrial Emission Control Systems Market: Market Potential
One of the leading companies operating in the global industrial emission control systems market, BASF, consolidated the operations of its chemical catalyst refining and recycling to a production facility in South Carolina named Seneca in 2015. In the same year, BASF Catalyst LLC also entered into a joint venture agreement with TODA KOGYO Corp. by establishing BASF TODA Battery Materials LLC. Since then, it has been focusing on the development of customized industrial emission control systems. Another major agreement was signed between DuPont and Lundberg to develop and supply exclusive air pollution control system for refining petrochemical plants and coke calciners associated with it.
Global Industrial Emission Control Systems Market: Regional Overview
Region-wise, the market for industrial emission control systems can be segmented into Europe, North America, Asia Pacific, and the Rest of the World. Owing to robust industrial development in Italy, Spain, and France. Increasing pollution caused from industries in India and China is expected to bode well for the market growth in Asia Pacific. North America is anticipated to emerge as lucrative region owing to the presence of leading companies in the region.
Global Industrial Emission Control Systems Market: Competitive Landscape
With the mergers and acquisitions in the go and initiatives to develop innovative products, companies are striving to gain a leading position. Some of the key players are BASF, John Matthey, Alstom Group, Babcock and Wilcox Enterprises, and Mitsubishi Hitachi Power Systems Limited.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
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Which aspects will serve as game-changers for the market?
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Which factors will hinder the growth of the market?
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