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 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
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Report Metric
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Details
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Forecast Period
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2024-2031
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Base Year
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2023
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Historic Years
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2022 (Customizable 2012-2022)
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Quantitative Units
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Revenue in USD Billion, Pricing in USD, Volume in Units
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Segments Covered
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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)
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Countries Covered
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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
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Market Players Covered
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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.)
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Market Opportunities
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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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