The
manufacturing and production industries today are responsible for a
large share of the output of harmful pollutants into the ecosystem.
Chemical process industries, manufacturing industries, and
large-scale power plants are all sources of particulates, harmful
gases, vapors, and aerosols. Most of these pollutants are proven to
be harmful to the environment as well as human well-being, which has
become a major cause for concern for several regulatory boards around
the world. One of the simpler and logical ways of controlling the
output is to use emission control systems. As such, the global
emission control systems market provides a large array of
technologies and chemicals that aim to curb and/or neutralize
pollutants before they escape into the surroundings.
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The
global emission control systems market is exhibiting a CAGR of 7.30%
between 2015 and 2023. The market was valued at US$11.7 bn in 2014
and is expected to grow till US$22.1 bn in 2023. The top companies in
the global emission control systems market are BASF Catalysts LLC,
CECO Environmental Corp., Mitsubishi Hitachi Power Systems Limited
(MHPS), Johnson Matthey PLC, GEA Group AG, Babcock & Wilcox
Enterprises Inc., and Alstom Group. With their outreach across the
world, the players in the global emission control systems market are
poised to compete while creating a healthier world to live in.
Power
Plants Dominate Demand for Emission Control Systems
The
global emission control systems market can be segmented according to
the type of emission control device and the emission source. From the
perspective of emission source, the global emission control systems
market is divided into the marine industry, the chemical process
industry, power plants, and the waste to energy industry, along with
other minor segments. Of these, the global emission control systems
market is dominated by power plants, a segment that held 42.3% of the
market in 2014. As for emission control devices, the market is
divided into filters, incinerators, catalytic reactors, electrostatic
precipitators, and others. The global emission control systems market
was led by electrostatic precipitators in 2014, when it held 36.2% of
the market.
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Asia
Pacific Leads Global Emission Control Systems Market
Nearly
38% of the global emission control systems market was taken up by
Asia Pacific in 2014. One of the key reasons for the growth of the
regional global emission control systems market is the rapid
industrialization of nations such as China and India. North America
followed suit in terms of growth rate, owing to the implementation of
increasingly stringent regulations regarding the release of harmful
chemicals and gases into the environment. Similar environmental
protection goals and commitments are shown by Europe, the third
largest regional segment of the global emission control systems
market in 2014. As for the Rest of the World, a high growth rate is
imminent as evolving industry practices and adoption of efficient
manufacturing means will allow for a better penetration of emission
control systems.
The
atmospheric level of harmful gases such as sulfur dioxide and nitrous
oxides and particulate emissions is increasing at a fast pace.
Government bodies are therefore taking stronger steps to protect the
habitability of the land and preserve the environment for future
generations. The global emission control systems market plays a
critical part in this and therefore can be expected to grow in the
near future.
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