Global flue gas desulfurization systems market is anticipated to be worth more than USD 27 billion by the year 2025, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2019-2025.
As per the latest research report, the key factors propelling the demand for flue gas desulfurization systems are the burgeoning investments for expansion of coal powered power plants and the growing electricity demand. As cited in the report, emerging economies are aggressively investing on coal-based electricity production to suffice the increasing power demands from major economic verticals. Moreover, surging number of initiatives for the expansion of heavy industries would boost market growth.
In terms of technology, wet flue gas desulfurization systems market is poised to gain immense momentum in the ensuing years, depicting a CAGR of over 5 percent by the year 2025. Segmental growth will be driven by falling costs of sorbent materials, scrubbing efficiency, and high control. Additionally, changing trends favoring the adoption of strict emission standards with respect to power generation and heavy industries sector will amplify the size of flue gas desulfurization systems market over the projected timeline.
The report cites that strengthening air quality norms and standards to alleviate negative impacts of SOx emissions would trigger flue gas desulfurization systems market growth. Respiratory system inflammation, skin irritation, and difficulty in breathing are the key health risks associated with the rising concentration of SOx contaminants in the atmosphere. Moreover, increasing focus on reinforcing air quality standards by governments around the world will further augment market share.
Indian FGD systems market is slated to observe substantial growth owing to increasing investments for expanding the installed thermal power production capacity. Fast-paced industrialization together with increasing urbanization have boosted electricity demand across the industrial and commercial sectors which will in turn escalate the implementation of these units in coal-fired power generating stations.
Increasing demand for refined petroleum goods together with surging investment for adding refining capacity would drive FGD industry growth. The expansion and development of existing and new refining facilities would positively impact the implementation of these units. Moreover, the surging demand for installing industrial emission control systems would augment product deployment over the estimated duration.
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Based on the findings of the report, Dry FGD systems market is projected to observe strong growth owing to less complicated waste disposal process and low capex costs in comparison to the available alternatives. The compact design and easy installation are some major influencing factors which are projected to favor the adoption of these systems. Moreover, increasing investments for the development of mid-level industrial facility would boost the deployment of FGD systems.
Burgeoning awareness across the industrial sector towards the implementation of emission management systems, together with the imposition of new environmental mandates focused on curbing emission levels, will further enhance the industry outlook. Additionally, surging investment towards infrastructure development will positively impact product demand over the projected duration.
The key players profiled in the global flue gas desulfurization systems market are Hamon & Cie International SA, Tri-Mer Corporation, CECO Environmental, Verantis, Nederman Mikropul, General Electric, DuPont Clean Technologies, Ducon, GEA Group, AMEC Foster Wheeler, KCH Services, Babcox & Wilcox, and MHPS.