Dublin, Dec. 30, 2021 (GLOBE NEWSWIRE) -- The "Global 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 - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global FGD systems market 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.
The FGD systems market has shown a positive growth trend over the last few years and is primarily driven by various factors such as stringent air pollution control regulations, rising environmental awareness, and consideration of coal as the most reliable source of energy. However, high initial installation costs, high operational energy requirements, and waste disposing requirements and associated costs are some of the factors that are restraining the growth of this market.
The dry & semi-dry FGD system segment is projected to grow at the highest CAGR during the forecast period
Based on type, the FGD systems market has been classified into wet and dry & semi-dry. The dry & semi-dry FGD systems segment is projected to grow at a higher CAGR during the forecast period as these are available at cheaper rates as compared to wet FGDs.
The power generation end-use industry segment is projected to grow at the highest CAGR during the forecast period
Based on end-use industry, the power generation segment is projected to grow at the highest CAGR during the forecast period, as most emerging and developed countries are still dependent on coal for electricity generation. According to the International Energy Agency, roughly 36.7% of the world's electricity generation in 2019 was dependent on coal.
The FGD systems market will witness an increase in demand from the power generation industry due to stringent regulations to control sulfur emissions from plants that use coal for power generation. Organizations such as the US Environmental Protection Agency and the European Committee for Standardization have defined stringent regulations pertaining to emissions from coal-based power plants.
Asia Pacific is projected to grow at the highest CAGR in the FGD systems market during the forecast period
The FGD systems market in Asia Pacific is projected to grow at the highest CAGR from 2021 to 2026. Key factors responsible for the adoption of wet FGD technology in the Asia Pacific region are government regulations for emission control, an increase in electricity demand, growth in reagent and equipment replacement market, and an increase in the number of coal-fired power plants.
Research Coverage
The report defines, segments, and projects the size of the FGD systems market based on type, end-use industry, installation, and region. It strategically profiles the key players and comprehensively analyzes their market share and core competencies. It also analyzes competitive developments such as agreements, expansions, and new product developments undertaken by them in the market.
Market Dynamics
- Drivers
- High Dependence on Coal-Fired Power Plants
- Stringent Standards for Sulfur Oxide Emission
- Marketable By-Products with a Variety of Applications
- Focus on Coal-Fired Power Generation due to COVID-19 Pandemic
- Restraints
- Emergence and Adoption of Clean Energy Sources
- FGD Wastewater Disposal and Associated Costs
- Opportunities
- Increasing Number of Coal-Fired Power Plants in China and India
- Likely Surge in Power Demand Post COVID-19 Pandemic
- Challenges
- High Energy Consumption of FGD Operations in Power Plants
- Supply Chain, Trade, and Economic Disruptions due to COVID-19 Pandemic
Case Study Analysis
- Power Generation
- Cez Group Upgrades FGD System at Detmarovice Coal-Fired Power Plant
- NTPC Ltd. to Install FGD Systems at Two Coal-Fired Power Plants in India
- Mitsui Engineering & Shipbuilding Co. Ltd. to Install Flue Gas Cleaning System at MES Biomass Power Plant
- Cement
- Vietnam National Cement Corporation to Implement Flue Gas Cleaning Systems for Removal of Sulfur Oxide Gases
- Norcem as Adopts Seawater FGD System for Kjopsvik Cement Plant in Norway
- Waste Incineration
- Kotkan Energia OY Installs FGD System at Waste-To-Energy Power Plant
Companies Profiled
- Aecom
- Andritz AG
- Babcock & Wilcox Enterprises Inc.
- Burns & McDonnell
- China Everbright International Ltd.
- Chiyoda Corporation
- Doosan Lentjes GmbH
- Ducon Technologies Inc.
- FLSmidth & Co.
- General Electric Company
- Hamon Group
- Kawasaki Heavy Industries Ltd.
- Lab SA
- Macrotek Inc.
- Marsulex Environmental Technologies
- Mitsubishi Heavy Industries Ltd.
- Rafako SA
- Rudis Trbovlje
- Shandong Baolan Environmental Protection Engineering Co. Ltd.
- Steinmuller Engineering GmbH
- Thermax Ltd.
- Valmet Corporation
For more information about this report visit https://www.researchandmarkets.com/r/fuvqnj
