Industrial DeNOx Systems and Services Market to reach US$ 27 Bn by 2026

The global industrial DeNOx systems & services market was valued at around US$ 18 Bn in 2017 and is anticipated to expand at a CAGR of approximately 9.0% during the forecast period, according to a new report published by Transparency Market Research (TMR) titled ‘Industrial DeNOx Systems & Services Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ The global industrial DeNOx systems & services market is driven by factors such as increase in the demand for these systems from power plants.

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Industrial DeNOx systems are most widely used in coal-fired thermal power plants, due to high flue gas emissions from these plants. Flue gas released from electricity generation units is harmful for the environment and it can cause severe health hazards to people in nearby areas. Industrial DeNOx systems used in power plants help reduce NOx emissions. The industrial DeNOx systems & services market in Asia Pacific is expanding at a significant pace due to increase in the demand for these systems in cement plant applications in the region.

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Increase in demand from power plants to drive industrial DeNOx systems & services market

Though power generation is moving toward renewable sources of energy across the world, thermal electricity generation is anticipated to account for a prominent share of the global electricity generation, especially in developing countries of Asia Pacific, in the near future. Additionally, focus on protection of the environment is anticipated to increase during the forecast period. This is anticipated to fuel the demand for DeNOx systems and services in India and countries in ASEAN along with Mexico and Brazil. Thus, increase in overall electricity consumption and high share of coal-fired power plants in the electricity generation are expected to fuel the demand for industrial DeNOx systems and services in the next few years.