flue gas desulfurization
The global flue gas desulfurization systems market size was value at USD 17.08 billion in 2019 and projected to reach USD 26.01 billion by 2027, expanding at a CAGR of 5.23% during the forecast period, 2020-2027. The key factors are the mounting demand for electricity and swelling investments toward thermal power generation capacity additions. Additionally, the growing consumption of a variety of fossil fuels in the rapidly expanding power industry and ever-expanding demand for power across the globe would stimulate the robust growth of the global flue gas desulfurization systems industry. Further, the rise in the development of captive power plants across heavy industries will complement the industry growth in future periods. The growing adoption of stringent air quality standards to reduce the SOx emission level and health risk posed by the ever-increasing SOx levels such as breathing difficulties, skin irritation, and inflammation of the respiratory system will spur the global flue gas desulfurization systems market share.
Moreover, the growing adoption of FGD systems to replace worn-out FGD components every year for the smooth functioning of the overall system will simultaneously foster the growth of the FGD systems market. Furthermore, the surge in need to reduce the adverse impact of emissions in cement manufacturing units is expected to trigger the global market growth. Additionally, the mounting demand for refined fuel, resulting from the expansion of road and air networks, and the swelling need for energy security, will increase investments in the refining sector. These factors expected to fuel the demand for FGD systems in the coming years.
Type Overview in the Global Flue Gas Desulfurization Systems market
Based on the type, the global flue gas desulfurization systems market bifurcates into the wet FGD system and dry & semi-dry FGD system. The wet FGD system held for the highest revenue share in 2019 due to the increasing demand in used in industrial plants owing to high removal efficiency of wet FGD system and low sorbent material costs with high scrubbing & control efficiencies.
Application Type Overview in the Global Flue Gas Desulfurization Systems Market
Based on the application, the global flue gas desulfurization systems market segregated into Greenfield and brownfield. The Greenfield segment accounted for a larger market share in 2019 and projected to lead the market by 2027. Due to increasing demand for the FGD system in power generation, chemicals, cement manufacturing, iron and steel, and other industries and Installed FGD systems at cement production plants can achieve over 90% reduction in Sox emission levels.
End-User Industry Market Overview in the Global Flue Gas Desulfurization Systems Market
Based on the end-user industry, the global flue gas desulfurization systems market segmented into power generation, chemical, iron & steel, cement manufacturing, and others. The power generation segment estimated to dominate the global flue gas desulfurization systems market by 2027. The most developing and developed countries are still dependent on coal for electricity generation and the introduction of stringent emission norms coupled with the ongoing expansion of thermal power stations.
Regional Overview in the Global Flue Gas Desulfurization Systems Market
By geography, the global flue gas desulfurization systems market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific holds maximum revenue share in 2019. Due to the growing demand for FGD systems in the region are the rapidly rising energy demand, industrialization, and awareness about controlling air pollution and stringent emission standards are set to generate the need for retrofitting the installed power generating station.
Global Flue Gas Desulfurization Systems Market: Competitive Landscape
Companies such as Mitsubishi Heavy Industries Ltd., General Electric Company, Doosan Lentjes GmbH, Babcock & Wilcox Enterprises Inc., Rafako S.A., FLSmidth& Co., Hamon Group, MarsulexEnvironmental Technologies, Thermax Ltd., Andritz AG, Ducon Technologies Inc., Chiyoda Corporation, China Boqi Environmental (Holding) Co. Ltd., LAB S.A., Valmet Corporation, Kawasaki Heavy Industries Ltd., Macrotek Inc., China Everbright International Ltd., AECOM, Burns & McDonnell, RudisTrbovlje, Steinmuller Engineering GmbH, Shandong Baolan Environmental Protection Engineering Co. Ltd., IDE Technologies, and KC Cottrell are the key players in the global flue gas desulfurization systems market.
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