Flue Gas Desulfurization Systems Market Projected to Grow at a Steady Pace
The newly launched report by Stratview Research, titled ‘Flue Gas Desulfurization Systems Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2028’ has been bifurcated by Technology Type (Wet and Dry), by Application Type (Power Plants, Chemical & Petrochemical, Cement, Metal Processing & Mining, Manufacturing, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
The Flue Gas Desulfurization Systems Market is expected to grow from USD 19.68 billion in 2021 to USD 28.03 billion in 2028 at a CAGR of 5.13% during the forecast period of 2022-2028. Surge in demand for electricity along with increasing investments toward thermal power generation capacity additions is likely to lead the flue gas desulfurization systems market growth. Developing economies are hostile investing towards coal-fired power generation to meet the ever rising electricity demand from key economic sectors. Besides, the development of captive power plants across heavy industries will positively impact the deployment of these systems over the forecast period.
Market Segmentation Analysis -
Based on the technology type, the market is segmented as wet and dry. The wet flue gas desulfurization systems market is estimated to grow over 5% during the forecast period. Low sorbent material costs combined with high scrubbing & control efficiencies are some of the major underlying factors which will propel the industry growth. Strict emission standards pertaining to power generation and heavy industries will further energize the adoption of wet FGD systems. On the other hand, the dry flue gas desulfurization systems market is expected to experience strong growth on account of its low capital cost and ease of installation as compared to its available alternative. Compact design and simpler waste disposal processes are some of the major factors which advocate the adoption of these systems. Ongoing investments toward expansion of medium-scale industrial plants are further likely to bolster the product deployment over the forecast timeline.
Based on the application type, the market is segmented as power plants, chemical & petrochemical, cement, metal processing & mining, manufacturing, and others. The cement application segment is expected to observe significant growth during the forecast period. The SOx emissions from cement manufacturing are primarily generated in pyro processing stage during the fuel combustion. Over 90% of the SOx reduction is accomplished from installation of FGD systems at cement production plants, which drives the growth of the segment. Furthermore, robust growth across construction sector along with introduction of stringent emission standards is set to boost the demand for flue gas desulfurization systems across the cement industry.
Key Players
The following are the key players in the market-
· Babcock and Wilcox Enterprises, Inc.
· CECO Environmental
· DowDuPont
· GEA Group.
· General Electric
· Hamon & Cie International SA.
· Mitsubishi Hitachi Power Systems
· Nederman Mikropul
· Tri-Mer Corporation
· Verantis
Research Methodology
Stratview Research's reports are the result of a thorough analysis that combines thorough secondary, and primary interviews with industry leaders, and confirmation using unique internal database and statistical methods. More than 1,000 verified secondary sources, such as annual reports from companies, press releases, fact books, journals, white papers, and blogs are reviewed and analysed.
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