Stratview Research has published a new report titled “Flue Gas Desulfurization Systems Market” which is segmented 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).
As per the study, flue Gas Desulfurization Systems Market is likely to witness a CAGR of 5% during the forecast period. 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.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise 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.
Which Region is expected to remain the largest market?
In terms of regions, Asia-Pacific was the largest market for flue gas desulfurization systems in 2020, and is expected to maintain its dominance during the forecast period as well. The Asia-Pacific region is likely to see an increased demand from the power generation industry as a result of the increased regulations and power production in the region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Who are the Key Players in the Market?
This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen in the Flue Gas Desulfurization Systems Market:
Key questions answered by the report
- What is the projected CAGR for revenue from the Flue Gas Desulfurization Systems Market during the forecast period?
- What would be the market be valued at by 2026?
- What is a major driving factor for growth of the market?
- Which region accounted for largest revenue share in the Flue Gas Desulfurization Systems Market?
- Which are the major market players?
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