Flue Gas Desulfurization Systems Market to Witness Mounting Growth in Approaching Time
April 07, 2022
Stratview Research has launched a new report, titled Flue Gas Desulfurization Systems Market 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)
Covid-19 Impact Analysis:
Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.
According to the report, 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.
Market Segments' 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.
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.
Key Players
The following are the key players in the Flue Gas Desulfurization Systems Market-
- Babcock and Wilcox Enterprises, Inc.
- CECO Environmental
- DowDuPont
- GEA Group.
- General Electric
- Hamon & Cie International SA.
- Mitsubishi Hitachi Power Systems
- Nederman Mikropul
- Tri-Mer Corporation
- Verantis
Frequently Asked Questions –
This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:
- What is the current and future market size of Flue Gas Desulfurization Systems Market?
- How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
- What will be the short and long-term effects of the pandemic?
- How are other market factors affecting the market dynamics?
- Which segments offer high-growth opportunities in the long run?
- How fierce is the Flue Gas Desulfurization Systems Market competition?
- What are the key emerging trends and unmet needs in the present market?
- What are the strategic growth opportunities and key success factors?
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