North America Emission Monitoring Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

North America Emission Monitoring Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The North America Emission Monitoring Systems Market size is estimated at USD 1.45 billion in 2024, and is expected to reach USD 2.23 billion by 2029, at a CAGR of 9.04% during the forecast period (2024-2029).

Key Highlights

• Several key factors primarily drive the market's growth. These include the global enforcement of stringent legal and environmental regulations, heightened health and safety concerns, a growing awareness of environmental protection's significance, and an escalating demand for oil, gas, and petrochemicals.
• A pronounced emphasis on environmental protection significantly boosts the emission monitoring system market. While many countries still heavily depend on coal-fired power plants for electricity, the rapid expansion of crude oil and natural gas infrastructure further fuels this market's growth. Moreover, industries are increasingly keen on monitoring and controlling particulate matter emissions. Coupled with stricter environmental regulations aimed at curbing air pollutants, this trend is likely to spur the adoption of various technologies, including wet and dry scrubbers, across multiple sectors.
• In-stack emission monitoring, which gauges pollutant concentrations at their release point, is gaining traction across industries like power generation, oil and gas, and building materials. This trend is especially pronounced in the oil and gas sector, where there's heightened attention on measuring and curbing emissions of hazardous chemicals like methane and carbon dioxide. Additionally, the surging demand for sustainable water solutions, bolstered by rising investments, population growth, and R&D advancements, is positively impacting the emission monitoring system market.
• However, the North American emission monitoring system market might encounter challenges in the coming years, mainly due to a growing emphasis on clean energy. Since the early 2000s, renewable energy has surged in popularity. Numerous nations have embarked on ambitious initiatives to harness sustainable energy sources, including solar, wind, and bioenergy. As these renewables gradually supplant traditional energy sources, the urgency for a transition to low-carbon solutions intensifies, especially in the quest to curtail CO2 emissions. This evolving focus might dampen the demand for emission monitoring systems.
• Rapid industrial growth and soaring energy demands have, unfortunately, taken a toll on the environment, sparking concerns over potential long-term degradation. In response, North American governments and environmental bodies are rolling out stringent measures against non-compliant industries, often accompanied by hefty fines. Consequently, companies are increasingly turning to emission monitoring systems to ensure compliance with established standards, a trend anticipated to bolster the market's growth.

North America Emission Monitoring Systems Market Trends

Power Generation to Witness Major Growth

• Power generation through combustion inevitably produces toxic gases and particulate matter emissions. Accurately monitoring these emissions can ensure compliance with permitted limits, reducing risks to human health and the broader environment. According to the International Energy Agency (IEA), in 2023, Canada's power sector released 73.85 million tonnes of carbon dioxide (MtCO₂).
• Canada's implementation of carbon pricing mechanisms, such as cap-and-trade systems in provinces like Quebec, has increased the demand for emissions monitoring systems. Power plants need accurate emissions data to calculate and report the carbon output, making real-time emissions monitoring essential to managing costs and compliance. Canada has implemented strict environmental regulations that require power industries to reduce greenhouse gas emissions (GHG). These regulations set legal limits for pollutants like methane and nitrous oxide. To comply with these regulations, businesses need monitoring systems to track the emissions accurately.
• Power plant emissions significantly impact air quality and public health. Monitoring emissions helps reduce pollutants contributing to respiratory problems, which is gaining more attention from policymakers. Environmental Protection Agency (EPA) requires power plants to limit mercury, acid gases, and other hazardous air pollutants, which drives the need for emissions monitoring systems.
• In October 2024, The Supreme Court temporarily permitted the Biden administration to enforce its latest measures to reduce climate-harming carbon emissions from coal- and gas-fired power plants. These plants are significant contributors to climate change. The Environmental Protection Agency (EPA) is eager to implement this rule, which leverages proven and cost-effective control technologies. This technique employs solvents to extract carbon dioxide from power plant emissions.
• Once captured, the greenhouse gas, known for its role in driving climate change, is transported via pipeline and stored underground. Moreover, the regulation requires coal plants to continue operations beyond 2038 and select new gas plants to achieve a 90% reduction in emissions by 2032. This reduction can be accomplished, in part, by implementing carbon capture and storage systems, which extract carbon dioxide from plant exhaust and sequester it underground. Such initiatives are surging the adoption of emissions monitoring systems.
• According to the Scott Institute for Energy Innovation, in 2023, the US power sector had a carbon intensity of 760 lb/CO₂/MWh, a decrease of 42.5 percent compared to 2005 levels. In 2023, West Virginia had the most elevated carbon intensity among all states in the US.

United States to Register Major Growth

• United States cities grapple with challenges posed by vehicular emissions, which significantly contribute to air pollution and climate change. By integrating gas emission monitoring systems into transportation infrastructure, authorities can track vehicle exhaust emissions. This can empower them to adopt emission reduction strategies, including promoting electric vehicles, optimizing traffic flow, and enforcing stringent emission standards.
• As reported by the Energy Information Administration (EIA), energy consumption in the United States led to the release of 4,807 million tonnes of carbon dioxide (GtCO₂) in 2023, marking a 2.7% decline from the prior year. Notably, United States CO₂ emissions from energy consumption have plummeted by roughly 20.0% since 2010, underscoring the heightened demand for emission monitoring systems in the market.
• The United States environmental protection agency (EPA) enforces strict regulations under the Clean Air Act, requiring industries such as refineries and manufacturing facilities to monitor and control emissions of pollutants like sulfur dioxide (SO2), nitrogen oxides (NOx), carbon dioxide (CO2), and particulate matter. Continuous emission monitoring systems (CEMS) are widely adopted to ensure compliance.
• The United States, with its stringent environmental regulations, is prompting industries to invest in advanced emissions monitoring solutions. Furthermore, the United States's diverse industrial landscape, power generation, chemicals, and oil and gas demands rigorous emissions monitoring to ensure compliance. A surging focus on sustainability and corporate social responsibility also fuels this adoption.

North America Emission Monitoring Systems Industry Overview

The North American emission monitoring systems market comprises several global players vying for attention in a fairly contested space, such as Rockwell Automation Inc., Emerson Electric Company, and Honeywell International Inc. Considering security concerns, the brand identity associated with these companies has a significant influence in this market.

Vendors who offer integrated systems have the upper hand over those offering either hardware components or software solutions. The bargaining power of these providers is higher than those operating in enterprise divisions, as differentiation is subjective to the application area.

Market participants are actively pursuing various initiatives, such as product innovation, to bolster their competitiveness. For instance, ABB has pioneered greenhouse gas sensing from space for over two decades, granting it a notable edge in the market. In a recent development, ABB clinched its third contract with GHGSat, the world leader in high-resolution greenhouse gas monitoring from space. Under this contract, ABB will produce optical sensors for four satellites set to launch in 2024. Overall, the intensity of competitive rivalry is expected to be high.

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