Portland, OR, April 06, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global flue gas desulfurization market was pegged at $17.86 billion in 2019, and is projected to reach $25.06 billion by 2026, growing at a CAGR of 4.1% from 2019 to 2026. The report offers a detailed analysis of drivers & opportunities, market size & estimations, top winning strategies, key segments, and competitive scenario.
Rise in focus to combat air pollution, growth of the industrial sector, and stringent government regulations toward controlling air pollution have boosted the growth of flue gas desulfurization market. However, decline in number of new coal power plants hampers the market. On the contrary, rise in technological advancements is expected to create lucrative opportunities in the near future.
The global gas desulfurization market is segmented on the basis of technology, application, and geography. Based on technology, the market is divided into wet FGD systems, spray dry FGD system, and dry FGD system. The wet FGD systems segment held the largest share in 2018, accounting for more than four-fifths of the market. However, the dry FGD system segment is expected to register the highest CAGR of 5.2% during the forecast period.
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On the basis of application, the market is categorized into power plants, cement, metal processing & mining, manufacturing, and chemicals. The power plants segment dominated the market in 2019, contributing to nearly two-thirds of the market. However, the metal processing and mining segment is expected to register the highest CAGR of 4.7% during the forecast period.
The global flue gas desulfurization market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the largest share in 2019, accounting for nearly three-fifths of the market. However, the market across LAMEA is expected to portray the highest CAGR of 5.0% during the forecast period. On the other hand, the market across North America is expected to register a CAGR of 3.8% during the forecast period.
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The global flue gas desulfurization market report includes an in-depth analysis of the major market players such as Mitsubishi Hitachi Power Systems, Ltd (MHPS), Inc., GEA Group Aktiengesellschaft, Babcock & Wilcox Enterprises, Inc., Thermax Ltd., HAMON Group, and GE Power.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.