Flue Gas Desulfurization Systems Market is expected to reach USD 28.03 billion in 2028, growing at a CAGR of 5.13% during 2022-2028, reports Stratview Research.
Raipur, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Flue Gas Desulfurization Systems Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the flue gas desulfurization systems market is driven by a host of factors, some of which are noted below:
Surge in demand for electricity along with increasing investments toward thermal power generation capacity additions.
Development of captive power plants across heavy industries.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Flue Gas Desulfurization Systems Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
by Technology Type,
by Application Type,
Flue Gas Desulfurization Systems Market Insights
Market Trends by Technology Type
The market is segmented as wet and dry. The wet flue gas desulfurization systems market accounted for the largest share of more than 82.5% in 2021. 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.
Market Trends by 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.
Which region offers the best opportunity and growth?
Asia-Pacific was the largest market for flue gas desulfurization systems with the market share of more than 72% in 2021 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.
COVID-19 Impact on the Flue Gas Desulfurization Systems Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
Babcock and Wilcox Enterprises, Inc.
Hamon & Cie International SA.
Mitsubishi Hitachi Power Systems
What deliverables will you get in this report?
In-depth analysis of the flue gas desulfurization systems market.
Detailed market segmentation.
Historical, present, and future market size analysis.
Industry trends, technologies, and advancements.
Growth and operation strategies adopted by key players.
Potential segments/regions offering promising growth.
Geographical presence of the key players.
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