New York, March 20, 2024 (GLOBE NEWSWIRE) -- The global flue gas desulfurization system market size is poised to grow at a CAGR of over ~8% from 2024 to 2036. The market is anticipated to garner a revenue of USD 20 billion by the end of 2036, up from a revenue of ~USD 10 billion in the year 2023.The major element to dominates the market expansion is the growing electricity demand. In world, the electricity consumed by people in the world reached over 25,499 terawatt-hours. Hence, the market for flue gas desulfurization systems is also projected to grow. This is because a power plant that generates electricity usually uses coal which further leads to SO2 emission.
Request Free Sample Copy of this Report @ https://www.researchnester.com/sample-request-5405
Power plants might limit their SO2 emissions by deploying flue gas desulfurization (FGD) scrubbers. These solutions have the capability of eradicating SO2 from the air and transforming it into gypsum, which is a construction material. For instance, flue gas desulfurization systems (FGD) devices can have sulfur removal efficiencies between over 49% to 98%. Moreover, governments in different nations are launching strict regulations to lower SO2 emissions. Therefore, this factor is also predicted to boost the expansion of the market.
Growing Prevalence of Acid Rain to Boost the Growth of Global Flue Gas Desulfurization System Market
The prevalence of acid rain has risen significantly in recent years. Acid rain is predicted to have a reduction in pH to less than over 5.6. Hence, this type of rain has occurred as the biggest threat to the environment, human health, and animal life. For instance, plants get negatively affected owing to AR due to depletion in, productivity, growth, and yield by harming photosynthetic mechanisms or indirectly by influencing underground components including root and soil systems. The primary factor for the formation of AR encompasses the occurrence of sulfur dioxide (SO2). As a result, the demand for flue desulfurization is also predicted to rise.
Flue Gas Desulfurization System Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Urban Population to Drive the Market Expansion in Asia Pacific
The Asia Pacific market for flue gas desulfurization system is predicted to generate the highest share in the market of about 38% over the forecast period. This growth of the market is poised to be encouraged by the rising urban population. For instance, close to 2.2 billion people are predicted to be living in urban regions of Asia. That means approximately 54% of the urban people in the globe are living in Asia. This number is projected to rise by about 50% by 2050.
Make an Inquiry Before Buying this Report @ https://www.researchnester.com/inquiries-before-buying-5405
Rising Water Pollution to Influence the Market Growth in North America
The North American market for flue gas desulfurization systems is predicted to have notable growth over the coming years. The major element to dominate the market expansion in this region is growing water pollution. It is estimated that close to 25 million of the population’s water in North America is contaminated.
Flue Gas Desulfurization System, Segmentation by Type
- Wet Flue Desulfurization
- Dry Flue Gas Desulfurization
The dry flue gas desulfurization segment in the flue gas desulfurization system market is projected to generate the highest share of approximately 60% over the forecast period. This growth of the segment is predicted to be encouraged by growing soil degradation. Over 39% of land all across the globe was considered to be degraded in the year 2022.
Flue Gas Desulfurization System, Segmentation by End User
- Refineries
- Industrial Processes
- Power Generation
The refineries segment is predicted to have notable growth in the market over the forecast period. This growth of the segment is set to be encouraged by growing air pollution. As per the World Health Organization, close to 7 million premature deaths are caused all across the world on account of growing pollution.
A few of the well-known industry eaders in the global flue gas desulfurization market that are profiled by Research Nester are General Electric Company, Mitsubishi Hitachi Power Systems, Ltd., Babcock & Wilcox Enterprises, Inc., Siemens AG, Doosan Lentjes GmbH, FLSmidth & Co. A/S, Thermax Limited, Hamon & Cie International SA, Clyde Bergemann Power Group, Valmet Corporation, and others.
Recent Development in the Flue Gas Desulfurization System Market
- Smart Grid Solution LLC, a US-based smart grid technology a wholly owned subsidiary of Siemens merged with Siemens Digital Industries LLC, a US-based digital industry company.
- A wholly owned subsidiary of Siemens, Verra Mobility LLC, a US-based transportation infrastructure company merged with Siemens Mobility LLC, a US-based mobility company.
Read our insightful Blogs and Data-driven Case Studies:
- Butyl Glycol - A Chemical Holding Immense Opportunities
Explore the range of applications and advantages offered by Butyl Glycol. This effective solvent and bonding agent find extensive use, in various industries, including coatings, cleaning solutions and textiles.
https://www.researchnester.com/blog/chemicals/bulk-chemicals/butyl-glycol-industry-opportunities
- Identifying Bulk Chemicals Company Supply and Demand Triggers
A chemical company failed to recognize the probable risks related to price and supply chain. Determining focused choices followed by prioritizing the production helped the company to draw out correct production strategy.
https://www.researchnester.com/case-study/chemicals/bulk-chemicals/identifying-bulk-chemicals-company-supply-and-demand-triggers
About Research Nester
Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates, and executives for their future investments while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided the right guidance at the right time is available through strategic minds.
