The emission equipment global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Emission Equipment Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The emission equipment market size has grown rapidly in recent years. It will grow from $155.52 billion in 2023 to $172.12 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to environmental regulations and policies, industrialization and urbanization, growing public awareness and advocacy, rising health concerns, and awareness of environmental issues.
The emission equipment market size is expected to see rapid growth in the next few years. It will grow to $260.08 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to continued stricter environmental regulations, economic growth, and industrial expansion, increased public and governmental pressure, global agreements and initiatives, and health and environmental impact awareness. Major trends in the forecast period include technology advancements, integration of advanced technologies, renewable energy and clean technologies, focus on sustainable and green technologies, digitalization, and smart technologies.
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Scope Of Emission Equipment Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Emission Equipment Market Overview
Market Drivers –
The increase in greenhouse gas emissions is expected to propel the growth of the emission equipment market going forward. Greenhouse gas emissions refer to releasing gases into the Earth’s atmosphere that trap heat, leading to the greenhouse effect and global warming. The increase in greenhouse gas emissions is due to various human activities and natural processes that have intensified significantly over the past century. Emission equipment is critical in mitigating greenhouse gas emissions by reducing the pollutants released into the atmosphere from various industrial and commercial activities. For instance, in June 2024, according to the Office for National Statistics (ONS), a UK-based government department, greenhouse gas emissions per person in the UK increased by 1.2% to 506 million tons of CO2 equivalent between 2021 and 2022. Therefore, an increase in greenhouse gas emissions is driving the growth of the emission equipment market.
Market Trends –
Major companies operating in the emission equipment market are developing advanced products, such as IoT-based building management systems, to reduce energy consumption and emissions. IoT-based building management systems reduce emissions by optimizing energy use through real-time monitoring and control of building systems such as lighting and ventilation. For instance, in March 2023, Siemens AG, a Germany-based provider of advanced emission equipment solutions, launched Connect Box, an open and user-friendly IoT solution tailored for managing and reducing emissions from small to medium-sized buildings. The Siemens Connect Box optimizes building operations by gathering real-time data from IoT sensors to monitor energy consumption and system performance. It then uses this data to make adjustments that maximize efficiency, reducing overall emissions from the building’s operations.
The emission equipment market covered in this report is segmented –
1) By Emission Type: Particulate Matter Control Equipment, Nitrogen Oxides Control Equipment, Sulfur Oxides Control Equipment, Volatile Organic Compounds Control Equipment
2) By Solution: Emission Test Equipment, Emission Test Software, Emission Test Service
3) By Application: Industrial, Automotive, Marine, Aerospace, Other Applications
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Regional Insights –
North America was the largest region in the emission equipment market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the emission equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the emission equipment market are BASF SE, Siemens AG, General Electric Company, Thermofisher Scientific Inc., Honeywell International Inc., ABB Ltd., Baker Huges Co., Alstom SA, Johnson Matthey plc, Emerson Electric Co., ANDRITZ AG, Fuji Electric Co. Ltd., Ametek Inc., Teledyne Technologies Incorporated, HORIBA Ltd., SICK AG, Spectris plc, Thermax Limited, Babcock And Wilcox Enterprises Inc., Enviro Technology Services plc
Table of Contents
- Executive Summary
- Emission Equipment Market Characteristics
- Emission Equipment Market Trends And Strategies
- Emission Equipment Market – Macro Economic Scenario
- Global Emission Equipment Market Size and Growth
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- Key Mergers And Acquisitions In The Emission Equipment Market
- Emission Equipment Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Emission Equipment Market, Segmentation By Emission Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Emission Equipment Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Emission Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: BASF SE Financial Performance
Table 75: Siemens AG Financial Performance
Table 76: General Electric Company Financial Performance
Table 77: Thermofisher Scientific Inc. Financial Performance
Table 78: Honeywell International Inc. Financial Performance
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