Newark, NJ, July 23, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global flue gas desulfurization market is expected to grow from USD 18.92 billion in 2019 and to reach USD 26.09 billion by 2027, growing at a CAGR of 4.1% during the forecast period 2020-2027.
The flue gas desulfurization systems market is witnessing significant growth in the past years. This growth is attributed to a rise in the number of refinery products, proliferating demand for electricity with investments in thermal power generation capacity expansion, and strict government regulations. Other factors influencing the market growth are increasing concerns regarding environmental pollution, enforcement of environmental laws and regulations, and rise in the prevalence of airborne diseases. For instance, in July 2020, NTPC Limited and General Electric Steam Power signed an agreement for the supply of wet flue gas desulfurization systems for three coal-fired power plants.
Flue Gas Desulfurization Systems is a wet scrubber that removes sulfur dioxide from emissions of coal combustion. This technology is generally used in power plants to extract SO2 from the exhaust combustion gases. Common methods used for removal of sulphur dioxide from flue gases are, wet scrubbing, spray dry scrubbing, SNOX flue gas desulfurization, and dry sorbent injection systems. Flue Gas Desulfurization systems use acid control system or acid rain interchangeably to segment a wide range of control system design. Increasing demand for flue gas desulfurization systems form iron and steel, cement and manufacturing, and chemical industries, increasing use of coal for power generation, and growth in captive power plant development across heavy industries influences the market growth. However, flue gas desulfurization wastewater disposable and its associated cost is a factor constraining the market growth.
The global flue gas desulfurization system market is expected to witness significant growth, owing to the requirement of technology for discontinuation of conventional fuel like natural gas, oil, coal from emitting harmful gases and eliminate hazardous pollutants, rising demand for greenhouse gases, and rising population and developing industries. Increasing technological upgrades in designs, rising demand for electricity, and stringent government regulations possess market growth opportunities. Easy availability of alternative methodology for flue gas treatment, and decline in the number of coal plants constraints the market growth. However, increasing research and development for the improvisation of flue gas desulfurization technology to lower energy consumption, enhance cost-effectiveness, and increase absorption efficiency will propel the flue gas desulfurization system market.
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Key players operating in global flue gas desulfurization system market include General Electric Company, Mitsubishi Heavy Industries Ltd., FLSmidth & Co., Andritz AG, Doosan Lentjes GmbH, Ducon Technologies Inc, Babcock & Wilcox Enterprises Inc., Hamon Group, Thermax Ltd., Chiyoda Corporation, Environmental Technologies, Marsulex, Rafako S.A., China Boqi Environmental (Holding) Co. Ltd, and Kawasaki Heavy Industries Ltd. Mitsubishi Heavy Industries Ltd., Ducon Technologies Inc are some of the leading manufacturers of flue gas desulfurization market.
The wet flue gas desulfurization system segment dominated and held the largest market share in the year 2019
On the basis of type, the global flue gas desulfurization system market segment is classified into dry, semi-dry, and wet. The wet flue desulfurization system dominated and held the largest market share in the year 2019. This was attributed to its early commercial deployment and high efficiency in terms of SO2 removal.
The power consumption segment dominated and held the largest market share in the year 2019
On the basis of end-user, the global flue gas desulfurization system market segment is classified into chemical, power generation, and iron and steel. The power consumption segment dominated and held the largest share in the year 2019. This was attributed to increased power generation and usage of high sulfur content coals in power plants.
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Regional Segment of Flue Gas Desulfurization Systems Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global flue gas desulfurization systems market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia-Pacific region accounted for the major share in the year 2019. This was attributed to increased demand from the power generation industry and the increasing power production in the region. In the region, India and China are witnessing significant growth due to the increase in the level of pollution, the imposition of emission norms, and rising investment towards capacity expansion. Europe is anticipated to witness significant growth due to initiatives taken by the European Government in the field of agriculture like green growth, agroecology, and sustainable intensification. The market in North America is witnessing significant growth owing to the strict government regulations and growing demand for electricity.
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About the report:
The global flue gas desulfurization system market is analyzed on the basis of value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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