As per the recently published report by MarketsandMarkets™, the “Flue Gas Desulfurization System Market by Type (Wet, Dry & Semi-Dry), End-Use Industry (Power Generation, Chemical, Iron & Steel, Cement Manufacturing), Installation (Greenfield and Brownfield) and Region – Global Forecast to 2026″, size is projected to grow from USD 19.3 billion in 2021 to USD 24.9 billion by 2026, at a CAGR of 5.2% from 2021 to 2026. Market growth is driven by the enforcement of federal laws and regulations that mandate SOx emitting industries to install air quality control equipment.
Download PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=862
Browse
- 136 Market data Tables
- 48 Figures
- 217 Pages and in-depth TOC on “Flue Gas Desulfurization System Market – Global Forecast to 2026″
This report also provides a comprehensive analysis of the companies listed below:
The major players in flue gas desulfurization system market include Mitsubishi Heavy Industries Ltd. (Japan), General Electric Company (US), Doosan Lentjes GmbH (Germany), Babcock & Wilcox Enterprises Inc. (US), Rafako S.A. (Poland), FLSmidth & Co. (Denmark), Hamon Group (Belgium), Marsulex Environmental Technologies (US), Thermax Ltd. (India), and Andritz AG (Austria) have adopted agreements, expansions, innovative technology research, and new product development as their key growth strategies. The other noteworthy players in this market are Ducon Technologies Inc. (US), Chiyoda Corporation (Japan), China Boqi Environmental (Holding) Co. Ltd. (China), LAB S.A. (France), Valmet Corporation (Finland), Kawasaki Heavy Industries Ltd. (Japan), Macrotek Inc. (Canada), China Everbright International Ltd. (China), AECOM (US), Burns & McDonnell (US), Rudis Trbovlje (Slovenia), Steinmuller Engineering GmbH (Germany), Shandong Baolan Environmental Protection Engineering Co. Ltd. (China), IDE Technologies (Israel), and KC Cottrell (South Korea) and others.
Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the flue gas desulfurization system market.
Recent Developments in Flue Gas Desulfurization System Market
- In July 2020, General Electric (GE) Steam Power signed an agreement with NTPC Limited, India, for the supply of wet FGD systems for 3 coal-fired power plants. With these wet FGD systems, the company will help NTPC treat approximately 35 million cubic meters per hour of flue gas, meeting India’s thermal power plant emission norms for SO2. This agreement also allows GE to strengthen its foothold in the country in which it already has 15.28 GW of SO2 reduction systems.
- In February 2020, Mitsubishi Hitachi Power Systems (MHPS) received a 12 year maintenance service extension for the BLCP power station in Thailand. This agreement covers the maintenance of major equipment, including boilers, steam turbines, and flue gas cleaning systems. It will strengthen the service business of the company and boost revenue generation.
- In July 2019, Doosan Lentjes announced the delivery and commissioning of two FGD systems in Vietnam. This system deployed seawater FGD technology and was installed at the Vinh Tan 1 power plant, in the Binh Thuan province of Vietnam. Doosan Lentjes’ scope of work included engineering and delivery of key FGD equipment along with advisory services for erection and commissioning. This development establishes the company’s reputation as a specialist in the delivery of air quality control systems across the global utility, municipality, and industrial sectors.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=862
“The wet FGD systems segment is projected to lead the market during the forecast period”
Based on type, the wet FGD systems segment is estimated to lead the market in 2020 as these are the most commonly used in industrial plants owing to their high removal efficiency (> 95%). As coal-fired power plants are the chief contributor of flue gases, most countries have strict emission standards for power generation units, mandating them to install FGD systems with high removal efficiency. Thus, wet FGD systems remain in high demand to meet the environmental standards across the globe.
“The power generation segment is estimated to lead the FGD system market during the forecast period”
Based on end-use industry, the power generation segment is expected to lead the FGD system market, as most developing and developed countries are still dependent on coal for electricity generation. China is the market leader in terms of wet FGD system installations in power plants. It has the maximum number of proposed power plants in the world. This, in turn, has increased SOX emission in China, consequently driving the demand for wet FGD systems that have a high removal efficiency to meet the emission standards set by the government.
“The FGD systems market in Asia Pacific is projected to grow at the highest CAGR from 2021 to 2026“
The Asia Pacific region is a highly potential market for FGD systems and is projected to be the fastest-growing during the forecast period. The important drivers for the rising demand for FGD systems in Asia Pacific are the rapidly rising energy demand, industrialization, and awareness about controlling air pollution. The chemical sector is continuously growing in the Asia Pacific region and is expected to fuel the growth of the FGD systems market during the forecast period. The growth of the market in the Asia Pacific region can also be attributed to the growing cement manufacturing and metal smelting industries.