San Francisco, California, November 30, 2017: The intensifying need for emission control devices and technologies in various industrialized nations to eliminate or diminish harmful pollutants from industrial processes is the primary factor boosting the demand for industrial emission control systems. The growing demand for these systems in a number of developed and developing countries owing to rapidly rising harmful emissions from industries, notably power and manufacturing sectors, is a key factor driving the market. The rapid pace of industrialization in numerous emerging economies has accentuated the need for harmful emission reduction technologies, thereby providing a robust fillip to the market. A new report penned by TMR Research, titled, “Industrial Emission Control Systems Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025”, offers in-depth insights into key market dynamics and trends influencing emerging opportunities and lucrative avenues in various regions.
A significantly expanding trade activities in various parts of the world is expected to bolster the demand over the forecast period. The large-scale power production is thriving on the back of a burgeoning demand for energy in several emerging economies. A rising power sector, notably coal power, in developing regions is fueling the demand for emission control devices and technologies world over. A thriving cement manufacturing industry, fueled by rapid growth of construction industry, has led to more harmful emissions, such as sulfur dioxide and nitrogen oxide. This is bolstering the demand for emission control systems.
Governmental regulations and their stricter implementations for controlling harmful emissions, including sulfur dioxide and nitrogen oxide, is a significant factor boosting the adoption of industrial emission control systems. The rising awareness of harmful effects of these pollutants on the ecology and human health in particular is a key factor elevating the demand for such technologies. The growing obligation to conform to local and global emission standards for various industries is a key factor expected to fuel the adoption of a variety of emission control system.
Various methods to reduce global warming is fast gathering steam among policymakers in developing and developed nations. As a result, they are intensively devising norms to minimize the negative impact. In various parts of the world, various governments are collaborating with a number of environmental bodies and agencies. This has provided a potential push to the growth of the global market. A number of regional and global agencies, especially in developed nations, is developing better standards on acceptable emission norms.
The declining prominence of coal-fired power plants in some developed nations, particularly in European nations and the U.S., in a bid to reduce the reliance on coal is a notable development expected to hamper the demand for various emission control devices and technologies. Nevertheless, the staggering pace of industrialization, is a crucial factor expected to bolster the demand for these systems by numerous industries, including automotive, medical, pharmaceutical, microelectronic, and aerospace. In addition, the advent of devices and technologies that makes for easier installation in manufacturing industries, bodes well for the growth of the market.
Some of the regional markets are Europe, North America, and Asia Pacific. The rapid pace of industrialization in several European countries, notably in Italy, Spain, and France, is expected to bolster the adoption of industrial emission control systems. Asia Pacific, led by India and China, is expected to provide substantial lucrative avenues for market players over the assessment period. The marked presence of prominent companies in the countries of North America is a key factor expected to accentuate the regional market.
Some of the market players eyeing for a significant share in the market are Mitsubishi Hitachi Power Systems Limited, Babcock and Wilcox Enterprises, Alstom Group, John Matthey, and BASF SE.
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