The global market for emission control systems has gained noticeable momentum in recent times. The increasing popularity of these systems as the most efficient solution to curb industrial emissions has significantly boosted their demand.
The rapid industrialization across the world, fueled by the rising global urbanization, has increased the release of industrial wastes such as emission of hazardous chemicals and gases, polluting the global environment severely. The whole world is considered to be at risk by ecologists and environment activists.
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Government Regulations Force Companies to Deploy Industrial Emission Control Systems
The rising concerns over the increasing environment pollution caused by industrial emission have compelled companies functioning in the manufacturing and various other industries to come up with effective solutions. Industrial emission control systems have emerged as the most competent solutions to curb the emission of harmful wastes from industry. The government regulations, aimed at curbing these emissions, has compelled them to deploy these systems in their factories and production facilities to restrict the emission of industrial waste.
All these factors have propelled the demand for industrial emission control systems exponentially, giving a powerful thrust to this market. According to a research report published Transparency Market Research (TMR), the global market industrial emission control systems stood at a total value of US$11.7 bn in 2014. Analysts anticipate this market to report a CAGR of 7.30% between 2015 and 2023 and reach US$22.1 bn by the end of 2023.
Asia Pacific Leads Global Industrial Emission Control Systems Market
Asia Pacific emerged as the leader of all the regional markets for industrial emission control systems in 2014, holding a share of 38% in the global market. Experts predict this trend to continue in the near future. The rapid industrial development in India and China, fuelled by the accelerating demand for power in this region, is expected to drive the market for industrial emission control systems in Asia Pacific in the coming years.
North America, Europe, and the Rest of the World are also showing substantial growth in the worldwide market for industrial emission control systems. The implementation of strict environmental regulations related to emission standards has been driving the industrial emission control systems markets in North America and Europe, whereas the rise in the industrial productivity has been propelling the market for industrial emission control systems market in the Rest of the World.
Increasing Energy Demand to Act as Growth Driver
On a whole, the future of the global industrial emission control systems market looks teeming with opportunities. The global rise in the demand for energy is likely to present an opportunity-rich market for the manufacturers of industrial emission control systems. However, the dearth of skilled professionals and the limited awareness regarding technologies is limiting the extent of the utilization of these systems, thereby hampering the growth of this market.
Browse the full Press Release of Global Industrial Emission Control Systems Market: http://www.mrrse.com/industrial-emission-control-systems-industry
Some of the major companies operating in the global market for industrial emission control systems across the world are Mitsubishi Hitachi Power Systems Ltd., Johnson Matthey Plc, Haldor Topsoe A/S, GEA Group AG, Fuel Tech Inc., CECO Environmental Corp., Babcock & Wilcox Enterprises Inc., BASF Catalysts LLC, AMEC Foster Wheeler Plc, and Alstom Group.