Dublin, Dec. 09, 2024 (GLOBE NEWSWIRE) -- The "Wet Flue Gas Desulfurization System Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The wet flue gas desulfurization system market size has grown strongly in recent years. It will grow from $16.38 billion in 2023 to $17.47 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth during the historic period can be attributed to stringent environmental regulations, the expansion of coal-fired power plants, government subsidies for pollution control, the high sulfur content of coal, and increasing health concerns.
The wet flue gas desulfurization system market size is expected to see strong growth in the next few years. It will grow to $22.65 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth projected for the forecast period can be attributed to the shift towards renewable energy sources, rising installation and maintenance costs, regulatory relaxations in certain regions, increased use of natural gas, and the demand for compact and efficient systems.
Key trends anticipated include the integration of carbon capture systems, a focus on energy-efficient solutions, the development of hybrid systems, innovations in sorbent materials, and the adoption of digital monitoring technologies.
The growing demand for cleaner energy solutions is anticipated to drive the expansion of the wet flue gas desulfurization system market in the coming years. Several factors contribute to the rise of cleaner energy solutions, including stricter environmental regulations, advancements in renewable energy technologies, increasing consumer demand for sustainable practices, and the need to reduce greenhouse gas emissions. Wet flue gas desulfurization systems play a crucial role in these cleaner energy initiatives by effectively removing sulfur dioxide from emissions, thereby reducing air pollution and ensuring compliance with environmental standards. For instance, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, power generation from solar photovoltaic systems reached a record 270 TWh in 2022, representing a 26% increase from 2021. As a result, the growing demand for cleaner energy solutions is driving the growth of the wet flue gas desulfurization system market.
Leading companies in the wet flue gas desulfurization system market are focusing on advanced technologies like combined flue gas desulfurization (FGD) to offer more cost-effective, efficient, and sustainable solutions for emissions control. Combined flue gas desulfurization (FGD) integrates multiple methods, such as wet and dry scrubbing, into a single system to remove sulfur dioxide (SO2) from the exhaust emissions of fossil fuel power plants. For example, in August 2021, Valmet Oyj, a Finland-based technology company, enhanced its wet flue gas desulfurization (FGD) technology by integrating both nitrogen oxide (NOx) and sulfur oxide (SOx) removal into a single system. This advancement makes emissions control more efficient and cost-effective, especially for facilities with limited space or those using challenging fuels. The upgraded system uses limestone or lime powder to convert sulfur into gypsum, reduces wastewater production, and incorporates Valmet's advanced automation for optimized processing.
In January 2022, GE Power India Ltd., an India-based power generation and energy delivery services company, collaborated with Apollo International Group to improve the environmental performance of the Anuppur Thermal Power Plant (TPP) in Madhya Pradesh, India. This partnership aims to significantly cut sulfur dioxide (SO?) emissions by 51,000 tons annually through the deployment of a wet flue gas desulfurization (WFGD) system. Apollo International Group is an India-based provider of integrated logistics solutions.
Major companies operating in the wet flue gas desulfurization system market are General Electric Company, Alstom S.A., AECOM, Kawasaki Heavy Industries Ltd., Burns & McDonnell, Andritz Group, Valmet Corporation, FLSmidth And Co., Chiyoda Corporation, Mitsubishi Hitachi Power Systems Ltd, Thermax Ltd., Babcock & Wilcox Enterprises Inc., KC Cottrell, Hamon Group, Rafako S.A., Ducon Technologies Inc., Doosan Lentjes GmbH, Steinmuller Engineering GmbH, Marsulex Environmental Technologies, BAOLAN EP INC., Rudis Trbovlje, Macrotek Inc.
This report focuses on wet flue gas desulfurization system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Markets Covered:
- By Type: Spray Tower; Jet Bubbling; Tray Tower
- By Installation: Greenfield; Brownfield
- By Application: Power Plants; Chemical And Petrochemical; Cement; Metal Processing And Mining; Manufacturing; Other Applications
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $17.47 Billion |
| Forecasted Market Value (USD) by 2028 | $22.65 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Wet Flue Gas Desulfurization System Market Characteristics
3. Wet Flue Gas Desulfurization System Market Trends and Strategies
4. Wet Flue Gas Desulfurization System Market - Macro Economic Scenario
5. Global Wet Flue Gas Desulfurization System Market Size and Growth
5.1. Global Wet Flue Gas Desulfurization System Market Drivers and Restraints
5.2. Global Wet Flue Gas Desulfurization System Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Wet Flue Gas Desulfurization System Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Wet Flue Gas Desulfurization System Market Segmentation
6.1. Global Wet Flue Gas Desulfurization System Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Spray Tower
- Jet Bubbling
- Tray Tower
6.2. Global Wet Flue Gas Desulfurization System Market, Segmentation by Installation, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Greenfield
- Brownfield
6.3. Global Wet Flue Gas Desulfurization System Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Power Plants
- Chemical and Petrochemical
- Cement
- Metal Processing and Mining
- Manufacturing
- Other Applications
7. Wet Flue Gas Desulfurization System Market Regional and Country Analysis
7.1. Global Wet Flue Gas Desulfurization System Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Wet Flue Gas Desulfurization System Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8-29. Country Specific Wet Flue Gas Desulfurization System Market Analysis
30. Wet Flue Gas Desulfurization System Market Competitive Landscape and Company Profiles
30.1. Wet Flue Gas Desulfurization System Market Competitive Landscape
30.2. Wet Flue Gas Desulfurization System Market Company Profiles
30.2.1. General Electric Company
30.2.2. Alstom
30.2.3. AECOM
30.2.4. Kawasaki Heavy Industries Ltd.
30.2.5. Burns & McDonnell
31. Wet Flue Gas Desulfurization System Market Other Major and Innovative Companies
31.1. Andritz Group
31.2. Valmet Corporation
31.3. FLSmidth and Co.
31.4. Chiyoda Corporation
31.5. Mitsubishi Hitachi Power Systems Ltd
31.6. Thermax Ltd.
31.7. Babcock & Wilcox Enterprises Inc.
31.8. KC Cottrell
31.9. Hamon Group
31.10. Rafako S.a.
31.11. Ducon Technologies Inc.
31.12. Doosan Lentjes
31.13. Steinmuller Engineering
31.14. Marsulex Environmental Technologies
31.15. BAOLAN EP
32. Global Wet Flue Gas Desulfurization System Market Competitive Benchmarking
33. Global Wet Flue Gas Desulfurization System Market Competitive Dashboard
34. Key Mergers and Acquisitions in the Wet Flue Gas Desulfurization System Market
35. Wet Flue Gas Desulfurization System Market Future Outlook and Potential Analysis
35.1 Wet Flue Gas Desulfurization System Market in 2028 - Countries Offering Most New Opportunities
35.2 Wet Flue Gas Desulfurization System Market in 2028 - Segments Offering Most New Opportunities
35.3 Wet Flue Gas Desulfurization System Market in 2028 - Growth Strategies
For more information about this report visit https://www.researchandmarkets.com/r/csvuw2
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