Opacity Monitors Market

Opacity Monitors Market Outlook

The global opacity monitors market size was USD 2.61 Bn in 2022 and is likely to reach USD 3.77 Bn by 2031, expanding at a CAGR of 4.6% during 2023 - 2031. The market growth is attributed to the growing adoption of opacity monitors across public and private organizations as it benefits environmental protection.

An opacity monitor is also known as a smoke meter, an advanced smoke and dust monitoring system designed for various industrial applications. It uses state-of-the-art module design and advanced technology. The opacity monitors measure the fraction of light lost in the process. A particulate matter (PM) monitor measures the optical characteristics of the stack gas and uses the value to calculate the PM concentration in mg/m3.
 

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Dust and smoke are the by-products of all combustion processes including oil and coal-fired generating units and since these emissions are damaging the environment and causing health issues, UK Environment Agency and  US Environmental Protection Agency (EPA) regulate emissions by establishing an Emission Limit Value (ELV). The ASTM D6216 standard (Standard Practice for Opacity Monitor Manufacturers to Certify Conformance with Design and Performance Specifications) opacity defines opacity as the degree to which particulate emissions reduce the intensity of light and obscure the view of an object through ambient air.

Opacity Monitors Market Dynamics

Rising Need for Improved Natural Resource Management

Rising need to cope with the increase in expansion and weather change concerns, technological innovations, and digitalization must be leveraged to reduce energy depletion and improve the quality of life. Additionally, innovation is combined with energy, digital technology, and information and communications technology to report development challenges and guarantee sustainability, which is anticipated to drive the opacity monitor market in the near future.

High Dependency of Countries on Coal-fired Power Plants to Generate Electricity

A coal-burning power plant is a thermal power station that uses coal to generate electricity. According to an article by Carbon Brief, in 2020, coal generated nearly 40% of the world’s electricity. Likewise, according to the Coal Association of Canada, in 2020, the country shaped approximately 62 million tons of coal, with 51% being thermal coal used for electricity generation.

Burnt coal releases numerous airborne contaminants and pollutants, such as mercury, lead, sulfur dioxide, nitrogen oxides, particulates, and other heavy metals. Exposure to these pollutants causes various health effects, including asthma and breathing difficulties, brain damage, heart problems, cancer, neurological disorders, and premature death. These pollutants damage the lungs, kidneys, respiratory, and nervous systems; therefore, various regulatory authorities have made continuous or preventive emission monitoring systems and opacity monitoring mandatory to track pollution and emission rates.

High Installation Cost and Maintenance Charges

High installation and maintenance expenses of opacity monitor systems restrict the market. The high costs of buying, fixing, preserving AQM sensors, and establishing AQM stations, are worsened by the operation of inflexible pollution control guidelines in conventional markets. Furthermore, it demands regulatory obedience for operational air pollution monitoring, data collection, and data surveillance. As a result, the high installation costs of AQM stations, and the premium price of sophisticated monitoring systems are expected to hamper their optimal market development in the coming years, especially in developing countries.

Growing Adoption of Opacity Monitor to Minimize Pollution

Opacity monitors help to reduce pollution, which creates lucrative growth opportunities in the coming years. Rising pollution leads to increased health concerns among consumers. Additionally, the surge in human population has continued to boost industrial development and rapid urbanization, thereby leading to enormous pollution. Thus, the implementation of opacity monitoring solutions in developing countries is increasing. Furthermore, in developing countries such as India, China, and Japan, deaths have augmented due to rising pollution in this region.

Scope of Opacity Monitors Market Report

The report on the global opacity monitors market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Opacity Monitors Market Segment Insights

Based on type, the global opacity monitors market is bifurcated into single-pass and double-pass. The double pass segment is expected to hold a substantial market share in the near future due to its low sensitivity and no requirement for power. Double-pass opacity monitors have better sensitivity at a smaller duct diameter. 

The single pass segment is projected to expand at a significant CAGR during the forecast period, due to its low cost and easy installation process. One of the major advantages of single-pass opacity monitors is they are suitable for applications with long path length monitors which is expected to boost the segment.

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On the basis of application, the global opacity monitor market is classified into power plants, cement plants, glass production, the chemical industry, and others. The cement plant segment is expected to hold a substantial share of the market in the near future, due to the rapid urbanization and increasing construction activities in the developing regions. However, the chemical industry segment is projected to hold a significant market share during the forecast period. The opacity monitor is an important parameter, owing to the regulatory monitoring requirements of the chemical industry.

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In terms of regions, the market in North America is projected to expand at a CAGR of 4.2% during the forecast period. North America held a significant share of the global opacity monitor market, owing to the presence of the key market players and continuous investment in the expansion of businesses. However, Europe accounted for 769.9 USD million of the market in 2022, due to the presence of regulatory bodies pertaining to carbon emissions from industrial sources such as power plants, refineries, and chemical manufacturing units. This is anticipated to propel the demand for the product over the forecast period.

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Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Opacity Monitors Market
• Historical, Current, and Projected Market Size in terms of Value.
• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
• Industry Drivers, Restraints, and Opportunities Covered in the Study
• Recent Industry Trends and Developments
• Competitive Landscape & Strategies of Key Players
• Neutral Perspective on Global Opacity Monitors Market Performance

Segments

Type

• Single Pass
• Double Pass

Application

• Power Plants
• Cement Plants
• Glass Production
• Chemical Industry
• Others

Key Players

• Teledyne
• AMETEK
• Dynoptic Systems
• Monitoring Solutions
• TWIN-TEK
• Emerson
• MIP Electronics
• Horiba
• CODEL International
• Environmental Monitor Service

Competitive Landscape

Top players in the market include Teledyne, METEK, Dynoptic Systems, Monitoring Solutions, TWIN-TEK, Emerson, MIP Electronics, Horiba, CODEL International, and Environmental Monitor Service.The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where potential opportunity for the Global Convenience Store Market.