The global flue gas desulfurization (FGD) systems market size was valued at $17,869.1 million in 2018, and is projected to reach $25,063.8 million in 2026, growing at a CAGR of 4.1%. Outdoor air quality is a vital aspect to be maintained to safeguard humans from the hazardous health effects caused due to contaminated pollutants. These pollutants contain releases of exhaust gases such as NOx, SOx, dust, and others from cement manufacturing, power generation, chemical processing, semiconductor manufacturing, mining, energy, and oil & gas. Hence, FGD systems are used to control and curtail the emission of SO2 and other gaseous pollutants.
Increase in awareness about the harsh influences of air pollution on well-being and health is promoting many flue gas desulfurization system manufacturers to introduce advanced flue gas desulfurization systems in the market, which acts as a key driver of the global market. In addition, rise in investments in manufacturing sector is one of the major compelling forces that boosts the demand for flue gas desulfurization systems. However, decline in number of new coal power plants is anticipated to hinder the market development in the upcoming years.
On the contrary, enforcement of stringent regulations such as the Environmental Protection Law and others by numerous governments to control air pollution and emissions for protection of the environment is expected to offer lucrative opportunities for the flue gas desulfurization systems market growth. Furthermore, prominent vendors tend to expand their businesses to strengthen their foothold in the market. For instance, recently in June 2019, MHPS-(Philippines) Plant Services Corporation was established by Mitsubishi Hitachi Power Systems, Ltd. (MHPS). The new establishment was formed to offer services for thermal power generation plants in the Philippines.
The global flue gas desulfurization systems market is segmented into technology, application, and region. Depending on technology, the market is divided into wet FGD systems, spray dry FGD system, and dry FGD system. Wet FGD systems segment is anticipated to dominate the global flue gas desulfurization systems market throughout the study period. By application, the market is segregated into power plants, cement, metal processing &mining, manufacturing, and chemicals. The power plants segment is expected to dominate the market during the forecast period.
Region wise, the flue gas desulfurization systems market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the Netherlands, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific is expected to dominate the market throughout the forecast period and LAMEA is anticipated to exhibit the highest CAGR.
The key players profiled in this report include Babcock & Wilcox Enterprises, Inc., GE Power, GEA Group Aktiengesellschaft, Mitsubishi Hitachi Power Systems, Ltd, S.A. HAMON, Thermax Ltd, Carmeuse, KraftPowercon, Koch-Glitsch, and ANDRUTZ AG.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By TECHNOLOGY
By APPLICATION
By Region
KEY PLAYERS
Increase in awareness about the harsh influences of air pollution on well-being and health is promoting many flue gas desulfurization system manufacturers to introduce advanced flue gas desulfurization systems in the market, which acts as a key driver of the global market. In addition, rise in investments in manufacturing sector is one of the major compelling forces that boosts the demand for flue gas desulfurization systems. However, decline in number of new coal power plants is anticipated to hinder the market development in the upcoming years.
On the contrary, enforcement of stringent regulations such as the Environmental Protection Law and others by numerous governments to control air pollution and emissions for protection of the environment is expected to offer lucrative opportunities for the flue gas desulfurization systems market growth. Furthermore, prominent vendors tend to expand their businesses to strengthen their foothold in the market. For instance, recently in June 2019, MHPS-(Philippines) Plant Services Corporation was established by Mitsubishi Hitachi Power Systems, Ltd. (MHPS). The new establishment was formed to offer services for thermal power generation plants in the Philippines.
The global flue gas desulfurization systems market is segmented into technology, application, and region. Depending on technology, the market is divided into wet FGD systems, spray dry FGD system, and dry FGD system. Wet FGD systems segment is anticipated to dominate the global flue gas desulfurization systems market throughout the study period. By application, the market is segregated into power plants, cement, metal processing &mining, manufacturing, and chemicals. The power plants segment is expected to dominate the market during the forecast period.
Region wise, the flue gas desulfurization systems market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the Netherlands, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific is expected to dominate the market throughout the forecast period and LAMEA is anticipated to exhibit the highest CAGR.
The key players profiled in this report include Babcock & Wilcox Enterprises, Inc., GE Power, GEA Group Aktiengesellschaft, Mitsubishi Hitachi Power Systems, Ltd, S.A. HAMON, Thermax Ltd, Carmeuse, KraftPowercon, Koch-Glitsch, and ANDRUTZ AG.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global flue gas desulfurization systems market, and current & future trends to elucidate the imminent investment pockets.
- Information about the key drivers, restraints, and opportunities and their impact on the market is provided.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2018 to 2026 is provided to determine the market potential.
KEY MARKET SEGMENTS
By TECHNOLOGY
- Wet FGD Systems
- Spray Dry FGD System
- Dry FGD System
By APPLICATION
- Power Plants
- Chemicals
- Cement
- Metal Processing and Mining
- Manufacturing
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- UK
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY PLAYERS
- ANDRUTZ AG
- Babcock & Wilcox Enterprises, Inc.
- Carmeuse
- GE Power
- GEA Group Aktiengesellschaft
- Koch-Glitsch
- KraftPowercon
- Mitsubishi Hitachi Power Systems, Ltd.
- S.A. HAMON
- Thermax Ltd.
Frequently Asked Questions about the Global Flue Gas Desulfurization (FGD) Systems Market
What is the estimated value of the Global Flue Gas Desulfurization (FGD) Systems Market?
What is the growth rate of the Global Flue Gas Desulfurization (FGD) Systems Market?
What is the forecasted size of the Global Flue Gas Desulfurization (FGD) Systems Market?
Who are the key companies in the Global Flue Gas Desulfurization (FGD) Systems Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 217 |
| Published | February 2020 |
| Forecast Period | 2018 - 2026 |
| Estimated Market Value ( USD | $ 17869.1 million |
| Forecasted Market Value ( USD | $ 25063.8 million |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 6 |
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FLUE GAS DESULFURIZATION SYSTEMS MARKET, BY TECHNOLOGY
CHAPTER 5: FLUE GAS DESULFURIZATION SYSTEMS MARKET, BY APPLICATION
CHAPTER 6: FLUE GAS DESULFURIZATION SYSTEMS MARKET, BY REGION
CHAPTER 7: COMPANY PROFILES
Executive Summary
According to the report titled 'Flue Gas Desulfurization Systems Market by Technology and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global flue gas desulfurization (FGD) systems market size was valued at $17,869.1 million in 2018, and is projected to reach $25,063.8 million in 2026, growing at a CAGR of 4.1%. The wet FGD systems segment accounted for over three-fourths of the global flue gas desulfurization systems market share in 2018 and is expected to witness significant growth during the forecast period.Flue gas desulfurization systems have witnessed unprecedented adoption in the current years, owing to rise in concerns pertaining to increase in pollution and environment protection. In addition, factors such as a rise in number of industries and increase in awareness regarding health hazards caused due to air pollution drive the adoption of flue gas desulfurization systems. However, high product and installation costs restrain the growth of the flue gas desulfurization systems market.
An increase in demand for air scrubbers has been witnessed in the fast-emerging economies such as India and China, owing to presence of several local and regional manufacturing companies. Moreover, rise in industrialization is expected to offer lucrative growth opportunities to small manufacturers across the globe. However, flue gas desulfurization systems market in LAMEA is in its nascent stage and is anticipated to observe substantial development in the near future due to rise in awareness among individuals toward controlling air pollution. LAMEA is expected to offer lucrative opportunities for the market players due to economic growth and rise in access to cutting-edge technologies.
According to Priyanka Khandelwal, Industry Analyst, Construction and Manufacturing, “Asia-Pacific serves as the most productive region as compared to others with diverse industry verticals significantly investing in flue gas desulfurization systems. Moreover, various players are investing in developing their product portfolios, which is anticipated to boost the demand for advanced flue gas desulfurization systems. Furthermore, the wet flue gas desulfurization systems market is projected to generate the highest market revenue during the forecast period, owing to increase in demand from the chemical and other manufacturing industries.”
This report discusses various aspects of the global flue gas desulfurization systems industry. Based on technology, the wet FGD systems segment is expected to account for the largest share in the market during the forecast period. This is attributed to increased demand from various industries such as power, oil & gas, and mining.
By application, the power plants segment is expected to account for the maximum share during the forecast period. This is attributed to a surge in the need for flue gas desulfurization systems to control the discharge of SO2 and other gaseous pollutants. Regionwise, Asia-Pacific is the most productive segment in the flue gas desulfurization systems market. This is attributed to the fact that numerous domestic competitors are expanding their business in China and India due to enhancing product portfolios, expanding geographical reach, and growing customer base.
KEY FINDINGS OF THE STUDY
- The report provides an extensive analysis of the current and emerging flue gas desulfurization system market trends and dynamics.
- The key market players within the flue gas desulfurization systems market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the flue gas desulfurization systems industry.
- The report provides an extensive analysis of the flue gas desulfurization systems market trends and its emerging opportunities.
- In-depth flue gas desulfurization systems market analysis is conducted by constructing estimations for the key segments between 2018 and 2026.
- The global flue gas desulfurization systems market forecast analysis from 2019 to 2026 is included in the report.
- Depending on technology, the wet FGD systems segment was the largest revenue system in 2018.
- By application, in 2018, the power plants segment generated the highest revenue, accounting for almost three-fifths of the market, and is projected to grow at a substantial CAGR from 2019 to 2026.
- Region wise, LAMEA is expected to grow at a significant rate during the study period.
- U.S. accounted for over 60% of the share of the North America flue gas desulfurization systems market in 2018.
The key players in this market adopted business expansion and acquisition as their key strategies to cater to increase in consumer demands. Furthermore, they launched energy-effective flue gas desulfurization systems of different types and capacities to strengthen their market position. The key players profiled in this report include Babcock & Wilcox Enterprises, Inc., GE Power, GEA Group Aktiengesellschaft, Mitsubishi Hitachi Power Systems, Ltd, S.A. HAMON, and Thermax Ltd.
Companies Mentioned
- Babcock & Wilcox Enterprises Inc.
- GE Power
- GEA Group Aktiengesellschaft
- Mitsubishi Hitachi Power Systems Ltd
- S.A. HAMON
- Thermax Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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