Global Emission Equipment Market – Industry Trends and Forecast to 2031

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Global Emission Equipment Market – Industry Trends and Forecast to 2031

  • Semiconductors and Electronics
  • Upcoming Report
  • Mar 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Emission Equipment Market, By Emission Type (Particulate Matter (PM) Control Equipment, Nitrogen Oxides (NOx) Control Equipment, Sulfur Oxides (SOx) Control Equipment, Volatile Organic Compounds (VOC) Control Equipment, and Others), Application (Industrial, Automotive, Marine, Aerospace, and Others), Technolgy (Wet Scrubbers, Electrostatic Precipitators (ESP), Catalytic Converters, Absorption Towers, and Others) - Industry Trends and Forecast to 2031.

Emission Equipment Market

Emission Equipment Market Analysis and Size

The market is a vital sector focused on developing and providing solutions to mitigate harmful emissions across various industries. This market addresses the pressing need to combat environmental pollution and adhere to stringent emission regulations worldwide. Emission equipment encompasses various technologies and systems designed to control and reduce pollutants such as particulate matter, nitrogen oxides, sulfur oxides, and volatile organic compounds. With increasing environmental awareness and regulatory pressures, the demand for emission control solutions continues to grow, driving innovation and investment in this critical market segment.

The global emission equipment market was valued at USD 146.22 billion in 2023 and is expected to reach USD 264.69 billion by 2031, registering a CAGR of 7.7% during the forecast period of 2024-2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024-2031

Base Year

2023

Historic Years

2022 (Customizable 2012-2022)

Quantitative Units

Revenue in USD Billion, Pricing in USD, Volume in Units

Segments Covered

Emission Type (Particulate Matter (PM) Control Equipment, Nitrogen Oxides (NOx) Control Equipment, Sulfur Oxides (SOx) Control Equipment, Volatile Organic Compounds (VOC) Control Equipment, and Others), Application (Industrial, Automotive, Marine, Aerospace, and Others), Technolgy (Wet Scrubbers, Electrostatic Precipitators (ESP), Catalytic Converters, Absorption Towers, and Others)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, and Rest of Middle East and Africa

Market Players Covered

Babcock & Wilcox Enterprises, Inc. (U.S.), Mitsubishi Hitachi Power Systems, Ltd. (Japan), General Electric Company (U.S.), Alstom SA (France), Siemens AG (Germany), Doosan Heavy Industries & Construction Co., Ltd. (South Korea). Thermax Limited (India), ANDRITZ AG (Austria), Johnson Matthey PLC (U.K.), and Amec Foster Wheeler (U.K.)

Market Opportunities

  • Technological Advancements in Emission Control Equipment
  • Strategic Partnerships and Collaborations among Key Market Players

Market Definition

Emission equipment refers to devices, systems, or components installed in vehicles, industrial machinery, or other sources of pollutants to control and reduce the release of harmful emissions into the environment. This equipment is designed to capture, treat, or otherwise mitigate pollutants such as gases, particulate matter, or other harmful substances before they are discharged into the air, water, or soil. Examples of emission equipment include catalytic converters, particulate filters, exhaust gas recirculation systems, vapor recovery systems, and selective catalytic reduction systems. Emission equipment plays a crucial role in environmental protection by helping minimize human activities impact on air quality and public health.

Global Emission Equipment Market Dynamics

Drivers

  • Increasing Government Regulations Related to Emission Control

The market is poised for growth due to increasing government regulations on emission control. With governments worldwide implementing stricter standards to combat air pollution and mitigate climate change, industries are compelled to invest in emission control solutions. This regulatory pressure is a significant driver for market expansion as businesses seek to comply with emission limits and avoid penalties. In addition, growing environmental awareness among consumers and stakeholders further reinforces the demand for emission control equipment. As a result, manufacturers and suppliers in the emission equipment market are experiencing increased demand for innovative technologies and solutions. Overall, the convergence of regulatory mandates, environmental concerns, and market dynamics creates favorable conditions for market growth.

Opportunities

  • Technological Advancements in Emission Control Equipment

Technological advancements in emission control equipment present a significant opportunity for market growth. The demand for more efficient and effective emission control solutions rises, as governments worldwide tighten emission regulations. Advanced technologies such as catalytic converters, Selective Catalytic Reduction (SCR) systems, and particulate matter filters offer enhanced performance, durability, and reliability compared to traditional methods. These innovations enable industries to meet regulatory requirements more effectively and provide cost-saving benefits and environmental advantages. Furthermore, developing smart and connected emission control systems allow for real-time monitoring, optimization, and predictive maintenance, improving overall operational efficiency and reducing downtime. As a result, manufacturers and suppliers investing in research and development to advance emission control technologies are well-positioned to capitalize on the growing demand and drive market expansion.

Restraints/Challenges

  • High Cost Associated with Emission Control Equipment

The high cost associated with emission control equipment poses a significant challenge for the growth of the Global Emission Equipment Market. While governments worldwide implement stricter emission regulations, industries face substantial financial burdens in complying with these standards. The upfront investment required for purchasing, installing, and maintaining emission control equipment can be prohibitive for many businesses, particularly smaller enterprises and those operating in developing economies. In addition, the total cost of ownership, including maintenance, operational expenses, and potential downtime, further exacerbates the financial strain. As a result, businesses may delay or forego adopting emission control technologies, leading to non-compliance with regulatory requirements, potential penalties, and reputational risks.

Moreover, the high cost of emission control equipment may hinder market penetration, especially in price-sensitive industries. Addressing the affordability and cost-effectiveness of emission control solutions is crucial to overcoming this challenge and fostering market growth.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global cloud security market, contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Global Emission Equipment Market Scope

The market is segmented on the basis of emission type, application, and technology. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Emission Type

  • Particulate Matter (PM) Control Equipment
  • Nitrogen Oxides (NOx) Control Equipment
  • Sulfur Oxides (SOx) Control Equipment
  • Volatile Organic Compounds (VOC) Control Equipment
  • Others

Application

  • Industrial
  • Automotive
  • Marine
  • Aerospace
  • Others

Technology

  • Wet Scrubbers
  • Electrostatic Precipitators (ESP)
  • Catalytic Converters
  • Absorption Towers
  • Others

Global Emission Equipment Market Region Analysis/Insights

The market is segmented on the basis of emission type, application, and technology as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, and Rest of Middle East and Africa.

North America is expected to dominate and fastest growing market due to the increasing investments in research and development in countries such as the U.S. and Canada is acting as a major driver for market growth.

The country section of the global emission equipment market  report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Global Emission Equipment MarketShare Analysis

The global emission equipment market is analyzed, and market size information is provided by country, product type & application. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the market.

Some of the major players operating in the global emission equipment market are:

  • Babcock & Wilcox Enterprises, Inc. (U.S.)
  • Mitsubishi Hitachi Power Systems, Ltd. (Japan)
  • General Electric Company (U.S.)
  • Alstom SA (France)
  • Siemens AG (Germany)
  • Doosan Heavy Industries & Construction Co., Ltd. (South Korea)
  • Thermax Limited (India)
  • ANDRITZ AG (Austria)
  • Johnson Matthey PLC (U.K.)
  • Amec Foster Wheeler (U.K.)


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Research Methodology

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

Frequently Asked Questions

The Emission Equipment Market size will be worth USD 264.69 billion by 2031 during the forecast period.
The Emission Equipment Market growth rate is 7.7% by 2031.
The Increasing Government Regulations Related to Emission Control is the growth driver of the Emission Equipment Market.
The emission type, application, and technology are the factors on which the Emission Equipment Market research is based.
The major companies in the Emission Equipment Market are Babcock & Wilcox Enterprises, Inc. (U.S.), Mitsubishi Hitachi Power Systems, Ltd. (Japan), General Electric Company (U.S.), Alstom SA (France), Siemens AG (Germany), Doosan Heavy Industries & Construction Co., Ltd. (South Korea). Thermax Limited (India), ANDRITZ AG (Austria), Johnson Matthey PLC (U.K.), and Amec Foster Wheeler (U.K.).