Emission trading schemes form the backbone of modern pollution control system across the globe. This is a system in which special economic incentives are given to companies for achieving reductions in the emissions of pollutants. Various countries have adopted emission trading scheme as one of the initiatives for counter attacking climate change and addressing international greenhouse-gas emission. Pollution control norms, global acceptance and cost effectiveness are the key factors on which the market of emission trading scheme depends. Emission trading scheme finds application in healthcare industry, manufacturing industry, aerospace and automotive sector.
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Increase in research and development activities in different industries is acting as a catalyst for the growth of emission trading schemes market over the forecast period. Moreover rising awareness of environmental pollution backed by technological innovation and pollution control initiatives by different countries across the globe are the factors driving the emission trading schemes market globally. The highly successful rate of pollution reduction with the use of emission trading schemes is also boosting the market and driving the demand at an exponential rate. Increasing application of emission trading schemes in automobile pollution control and manufacturing sector by proving economic incentives is expected to serve as a market opportunity for future growth.
Asia-Pacific is the most attractive region for emission trading schemes market. The significant increase in application of emission trading in energy incentive sectors like cement, newsprint, steel, aluminium and petroleum in Asia-pacific region is driving the market for emission trading schemes. In addition, presence of unmet needs, government initiatives to increase awareness and improving economic stability are the drivers, driving the emission trading schemes market in the region. Moreover increase in use of modern technologies, continuous research and development by different manufacturing and petroleum companies are the prime drivers of the market in Asia Pacific region. The North America and Europe market for emission trading schemes is expected to grow at a steady pace over the forecast period.
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Steady recovery from the recent economic meltdown is responsible for the growth in the manufacturing and industrial sector in North America which is driving the market for emission trading schemes in the region. Moreover increasing environmental awareness among the people with the need for reducing carbon footprints backed by government initiatives are expected to boost the market in North America. The necessity to reduce carbon dioxide emission and government rules and regulations about environmental pollution norms in United Kingdom is driving the emission trading schemes market in Europe. Moreover there is an increase in emission trading schemes for reduction of green house gases. This has lead to a significant increase in market demand for emission trading schemes for carbon footprint reduction in Europe market. Europe market faced steep challenge in the recent economic meltdown and is recovering at a steady pace which has also increased the demand for technological innovation and upgradation in the manufacturing industry thereby driving the market for emission trading schemes.
Global key participants in the industry include Green Pro Invest, Ecolutions GmbH, CK Connect Co2, GreenTek Indika, Texas Climate & Carbon Exchange, Bedminster International, Spectro Analytical Labs Limited and Carbon Market Data among others.