Industrial Emission Control Systems Market Revenue to Surpass US

Industrial Emission Control
Systems Market Revenue to
Surpass US$22 bn by 2023
Global Industrial Emission Control Systems Market: Snapshot
The world industrial emission control systems market is prophesied to
expand rapidly on account of a high global demand for power and
mounting industrialization coupled by predominant enforcement of
stringent regulations by environmental regulatory and government
bodies. Regulations pertaining to the emission of harmful gases such as
sulfur dioxide and nitrogen oxide and particulate matters are expected
to make it obligatory on the part of several industries to conform to
local and international emission standards. The world industrial
emission control systems market could also gain impetus from
increasing global trade and aggressive industrialization in emerging
economies.
By 2023, the world industrial emission control systems market is
prognosticated to showcase a significant improvement in revenue
valuation by raking in a US$22.09 bn. In 2016, a valuation of US$13.44
bn was earned by the world industrial emission control systems market.
During the forecast period 2015–2023, the world industrial emission
control systems market could register a 7.3% CAGR.
Rapid Establishment of Power Plants Raises Environmental Concerns
Amongst the top four and other emission sources, power plants are
predicted to reserve a commanding share of US$9.7 bn in the
international industrial emission control systems market by the final
forecast year. Alarming environmental concerns have raised eyebrows
due to an influential rise in power demand and industrialization,
especially in developing countries. As the domestic manufacturing
industry of emerging regions has begun to develop, stringent regulatory
structures have taken shape to address the need for reducing industrial
emission.
The marine industry is also anticipated to make its substantial
contribution to the international industrial emission control systems
market because of the surge in global trade. A convincing inflow of
investments could be triggered due to the maturation of the
international industrial emission control systems market in response to
the evolving characteristic of government regulations.
The chemical process industry and power plants are envisaged to
register an impressive combined share during the course of the forecast
period. Favorable growth of industries in developing countries and
maturing industrial hubs worldwide could improve the chances of the
establishment of a rocketing count of power plants on a global
platform. Moreover, the introduction of new coal-fired power plants is
foretold to bolster the demand in the international industrial emission
control systems market. A leading measure of power generation via
thermal coal-fired power plants could be witnessed in China and India,
the two major manufacturing hubs of the world.
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Asia Pacific Takes Driver’s Seat with Advent of Coal-fired Power Plants
Asia Pacific is projected to take the charge in the worldwide industrial
emission control systems market on the back of a boosted installation
count, swift industrialization, and regulations laid down by different
government organizations. The development of coal-fired power plants
has particularly gained prominence in the region due to the shortage of
developed renewable energy infrastructure. Furthermore, power plants
in Asia Pacific are experiencing tremendous pressure from growing
population. All of these factors are forecasted to escalate the share of
Asia Pacific to 39.58% in the worldwide industrial emission control
systems market.
Followed by North America, Asia Pacific could maintain the demand in
the worldwide industrial emission control systems market while riding
on emerging countries creating tight emission regulations and allembracing emission standards. Participants are foreseen to sustain
their profitability in the worldwide industrial emission control systems
market with the involvement of the United Nations Economic and
Social Commission for Asia and the Pacific (UNESCAP) in the
formulation of strict regulatory criteria. Countries such as Indonesia and
Thailand besides China and India could magnify the demand in Asia
Pacific with their rising need for electricity.
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Industrial Emission Control Systems Market Revenue to Surpass US$22 bn by 2023

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