Global Electrostatic Precipitator Market to expand with 4.62% CAGR over 2018-2023

November 11, 2019


According to the latest study titled ‘Global Electrostatic Precipitator Market: Analysis By System Type (Dry Electrostatic Precipitator, Wet Electrostatic Precipitator), By Application (Power and Electricity, Chemicals, Cement, Steel, Petroleum, Carbon Black, Others), By Region, By Country (2019 Edition): Opportunities and Forecast (2013-2023) - By Region (North America, Europe, APAC, ROW), By Country (US, Mexico, Canada, Brazil, UK, Germany, France, Italy, China, Japan, India, South Korea, Indonesia)’ available with Market Study Report LLC, the global electrostatic precipitator market is estimated to grow with a CAGR of 4.62% through 2023.
 

Surging need for electric power worldwide, coupled with growing manufacturing and production processes has propelled the growth of electrostatic precipitator (ESP) market. Additionally, the market is expected to witness growth at a substantial rate due to federal regulations across various nations restricting greenhouse gas and carbon emissions in industries, which is encouraging the manufacturers to install electrostatic precipitators, thereby boosting the equipment demand.
 

As per system type, electrostatic precipitator market is segmented into dry electrostatic precipitators and wet electrostatic precipitators, in which, dry electrostatic precipitators segment is projected to witness significant growth over the forecasted period.
 

Based on application spectrum, ESP market is divided into power & electricity, cement, steel, chemicals, petroleum, carbon black, and others. As per the report, power & electricity application segment is expected to register substantial growth through the projected timeline.  

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Considering geographical locations, the global electrostatic precipitator market is fragmented into four major regions which are Europe, North America, APAC, and rest of world. Government initiatives in various emerging countries of APAC region to modernize the infrastructure, in consort with rising coal consumption have contributed to make the Asia Pacific region hold the largest share in the global electrostatic precipitators market in 2018, cites the report. In addition, leading companies are setting up their manufacturing and production units in APAC countries, which will further aid the regional market growth. According to the research report, the key players of electrostatic precipitator market include Amec Foster Wheeler, Hamon Group, Ducon Technologies, Babcock & Wilcox, GE Power, FLSmidth, Johnson Controls, Hitachi, Thermax Ltd. and Siemens.

Frequently Asked Questions (FAQ) :

According to the research report, rising demand for electric power globally, increase in production and manufacturing processes and favorable federal reforms have propelled the growth of electrostatic precipitator market.
Electrostatic precipitator market from dry electrostatic precipitator segment is are projected to register significant growth during the period of 2018-2023.
Government initiatives in various emerging countries of APAC region to modernize the infrastructure, in consort with rising coal consumption have contributed to make the Asia Pacific region hold the largest share in the global electrostatic precipitators market in 2018, cites the report. In addition, leading companies are setting up their manufacturing and production units in APAC countries, which will further aid the regional market growth.
The top players in the global electrostatic precipitator market are Amec Foster Wheeler, Hamon Group, Ducon Technologies, Babcock & Wilcox, GE Power, FLSmidth, Johnson Controls, Hitachi, Thermax Ltd., and Siemens.