March 12, 2020
As per the report titled ‘Europe Stationary Catalytic Systems Market Share By Application, Technology, Regional Outlook, Industry Size, Share, Growth Trends & Forecast, 2019 – 2025’, available with Market Study Report LLC, Europe stationary catalytic system market share is projected to cross USD 1 billion by the end of the forecast period.
Growing inclination towards power conservation in tandem with establishment of energy efficient buildings will augment the growth of Europe stationary catalytic system market in the forthcoming years. Strict mandates and zero building emission codes are boosting the demand for stationary catalytic systems in existing conventional industrial buildings. Increasing government initiatives to reach the EU energy efficiency target of 20% by 2020 will encourage the demand for stationary catalytic systems in Europe.
Elaborating on the technology, Europe stationary catalytic system market is bifurcated into SCR and oxidation catalyst. SCR segment is expected to witness considerable growth during the study period, on account of its ability to reduce 95% of NOx emissions. Increasing regulatory norms towards curtailing GHG emission and rising demand for eco-friendly systems will further increase the product adoption in the coming years.
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Speaking of the application spectrum, the demand for stationary catalytic systems in power plants is expected to rise substantially during the study period, owing to rapid industrialization and high standards regarding equipment inspection, construction and operation. Rising demand for manufactured commodities and refurbishment of existing plants to comply with green codes are the other major factors supporting the growth of power plants segment.
Considering the geographical landscape, stationary catalytic system market in Italy is presumed to see modest growth, on account of increasing electricity demand along with a growing focus towards the reduction of NOx. Ongoing retrofitting activities and replacement of conventional infrastructure are further augmenting the demand for stationary catalytic system in Italy. Stringent government mandates and R&D activities for improved product features are also positively impacting the regional market growth.
Russia stationary catalytic system market is expected to expand considerably, owing to the rising health and environmental concerns which has led to the implementation of strict mandates towards pollution, thereby encouraging the product adoption in the region. Easy availability of coal, a well-established regulatory framework, rapid industrialization, M&A’s tax inversions, and increasing foreign direct investments are the other factors supporting the growth of stationary catalytic system market in Russia.
MAN, Agriemach, Babcock and Wilcox, Hug Engineering, DCL International, Johnson Matthey, McGill AirClean, CORMETECH, Yara, Ducon, and AMEC Foster Wheeler are some of the major players operating in Europe stationary catalytic system market.
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