NEWARK, Del: , Oct. 05, 2023 (GLOBE NEWSWIRE) -- The global flue gas desulfurization system market size is slated to surpass a valuation of US$ 22,252.3 million in 2023 and is anticipated to clock a valuation of US$ 36,593.3 million by 2033. The flue gas desulfurization system market share is forecasted to thrive at a CAGR of 5.1% from 2023 to 2033.
Flue gases from power stations, industrial facilities, and other sources that burn fossil fuels are processed using flue gas desulfurization (FGD) to reduce sulfur dioxide (SO2) emissions. To combat air pollution and minimize hazardous emissions, governments throughout the world are enacting strict environmental laws. Sulphur dioxide is a significant atmospheric pollutant that causes acid rain and harms human health. Industries have been implementing FGD systems to considerably reduce SO2 emissions, fulfill emission limits, and comply with environmental laws. Implementation of further governmental regulations is expected to increase market growth during the forecast period.
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In addition to removing SO2, FGD systems are also able to lower dangerous pollutants like particulate matter (PM), nitrogen oxides (NOx), and mercury (Hg). The potential of FGD systems as a component of a multi-pollutant management approach has been recognized by governments and businesses, making them a preferred method of minimizing environmental effects. The increasing adoption by end-user industries is predicted to bolster market growth.
The global quest for cleaner, more sustainable energy sources has resulted in the incorporation of renewable energy and the eventual retirement of older, more polluting power plants. By lowering emissions from existing fossil fuel-based power plants, FGD systems serve a crucial role in bridging the transition phase as greener energy sources gain popularity.
“FGD systems are essential environmental control technologies used in power plants and industrial processes to reduce sulfur dioxide (SO2) emissions from flue gases. These systems help mitigate air pollution by removing harmful sulfur compounds, contributing to cleaner air, and reducing environmental impact,” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways from Flue Gas Desulfurization System Market Report:
- In 2018, the global market size stood at US$ 17,619.2 million.
- The market expanded at a CAGR of 4.7% from 2018 to 2022.
- In 2022, the global market size stood at US$ 21,172.5 million.
- The wet flue gas desulfurization system segment captured 34.6% of global market shares in 2022.
- The flue gas desulfurization system for the power generation segment acquired 57.80% of global market shares in 2022.
- India captured 5.2% of global market shares in 2022.
- The United States captured 21.8% of global market shares in 2022.
- China captured 17.1% of global market shares in 2022.
- The United Kingdom captured 2.3% of global market shares in 2022.
Recent Development Observed by FMI:
GE announced its plans to reduce emissions at Anuppur Thermal Power Plant by 51000 tons of SO2 in January 2022. Apollo International Limited will supply MB Power (Madhya Pradesh) Ltd. with electricity as part of the partnership.
The power source, General Electric (GE), also provided critical components and designed the entire Wet Flue Gas Desulfurization (WFGD) system for the 2X600 MW Anuppur Thermal Power Plant in Madhya Pradesh. GE plans to eliminate 51,000 tons of SO2 annually and clean 7.4 million cubic meters of flue gas per hour as part of India's effort to lessen the environmental impact of thermal power facilities. The project is going to allow the end-user to comply by 2024 with SO2 emission standards for thermal power plants.
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Key Players in the Global Market:
- Babcock & Wilcox Enterprises Inc.
- Masulex Environmental Technologies
- FLSmidth & Co. A/S
- Thermax Limited
- Clyde Bergemann Power Group
- Burns & Mcdonnell
- Alstom SA
- Mitsubishi Electric Corporation Ltd.
- Hamon Corporation
- Valmet
- DUCON Infratechnologies Ltd.
- GE Power India Limited
- Tata Projects
- NTPC Limited
Flue Gas Desulfurization System Market Segmentation:
By Type:
- Wet Flue Gas Desulfurization System
- Dry Flue Gas Desulfurization System
- Semi Gas Flue Gas Desulfurization System
By Application:
- Flue Gas Desulfurization System for Power Generation
- Flue Gas Desulfurization System for Chemical Processing
- Flue Gas Desulfurization System for Iron and Steel
- Flue Gas Desulfurization System for Cement Manufacturing
- Flue Gas Desulfurization System for Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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