The report “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″, 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.
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• 217 Pages and in-depth TOC on “Flue Gas Desulfurization System Market – Global Forecast to 2026″
Some of the prominent key players are:
· 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)
Opportunity: Increasing number of coal-fired power plants in China and India
According to the International Energy Agency, coal remained a major fuel in global energy systems and accounted for almost 36.7% share of electricity generation in 2019. China, India, and other emerging economies of the Asia Pacific region accounted for the highest increase in the usage of coal for power generation, while consumption patterns decreased in North America and Europe.
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 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.