Industrial emission control systems are utilized for monitoring, collecting, eliminating, and converting harmful pollutants present in the atmosphere via absorption, oxidization, adsorption, and other chemical reactions. Chemical process industries, the manufacturing industry, and large power plants emit harmful pollutants such as aerosols, particulates, gases, and vapors. In addition, industrial processes such as combustion emit oxides of nitrogen, carbon monoxide, unburned hydrocarbons, and sulfur, among other harmful pollutants. These pollutants may have serious environmental repercussions because they are responsible, among other things, for the depletion of the ozone layer. Environmental pollution is also harmful for the health of animals and humans as it can cause lung and cardiovascular problems.
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Increasing Global Trade to Fuel Industrial Emission Control Systems Market
The industrial emission control systems market is fuelled by the strict regulations posed by governments globally and the increasing industrialization within developing markets. The increasing global trade is also having a positive impact on the growth of the market. In addition, the increasing demand for power and the rising global population emerged as major growth opportunities within the market. On the other hand, the rising problems with conventional technology in industrial emission control systems are amongst the prime factors that may inhibit the growth of the market in the coming years.
Electrostatic Precipitators Constituted Largest Share of 36.2% in 2014
In terms of emission source, the industrial emission control systems market is segmented into the chemical process industry, power plants, the waste to energy industry, the marine industry, and other industries. Amongst these, the segment of power plants led the market in 2014 with a share of 42.3%. On the basis of device type, the market is segmented into catalytic reactors, electrostatic precipitators, filters, incinerators, and others. Amongst these, in 2014, the segment of electrostatic precipitators constituted the largest share of 36.2% in the market for industrial emission control systems.
Asia Pacific Industrial Emission Control Systems Market Emerged as Largest Market in 2014
On the basis of geography, the market for industrial emission control systems is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, the Asia Pacific industrial emission control systems market emerged as the largest market in 2014 and held a share of 38% in the global market. The increasing population and swift industrialization in India and China have resulted in an increased demand for power, boosting the Asia Pacific industrial emission control systems market.
The region of North America trailed Asia Pacific and took the second largest share in the market the same year. Strict emission standards and environmental regulations are the prime factors fuelling the North America industrial emission control systems market. North America was trailed by the region of Europe in 2014. On the other hand, the growth of the industrial emission control systems market within RoW is also predicted to rise exponentially in the coming years owing to advancements in industrial productivity and evolving emission regulations.
The prime players operating in the market for industrial emission control systems are Alstom Group, Babcock & Wilcox Enterprises Inc., GEA Group AG, Johnson Matthey PLC, Mitsubishi Hitachi Power Systems Limited (MHPS), CECO Environmental Corp., and BASF Catalysts LLC, among others.