Flue Gas Desulfurization Systems Market Analysis | 2023-2028

Market Insights

The flue gas desulfurization systems market was estimated at USD 20.7 billion in 2022 and is likely to grow at a CAGR of 5.1% during 2023-2028 to reach USD 27.97 billion in 2028.

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Market Dynamics

Introduction

Flue gas desulfurization is the technology that is employed to remove oxides of sulfur from combustion flue gases of power plants and other industrial processes that burn oil or coal to produce steam for process heating and electricity generation.

Market Drivers

The surge in demand for electricity along with increasing investments toward thermal power generation capacity additions is likely to lead the flue gas desulfurization systems market growth. Developing economies are hostile to investing in coal-fired power generation to meet the ever-rising electricity demand from key economic sectors. Besides, the development of captive power plants across heavy industries will positively impact the deployment of these systems over the forecast period.

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Key Players

Some of the key players in the market are:

• Babcock and Wilcox Enterprises, Inc.
• CECO Environmental
• DowDuPont, GEA Group.
• General Electric
• Hamon & Cie International SA.
• Mitsubishi Hitachi Power Systems
• Nederman Mikropul
• Tri-Mer Corporation
• Verantis

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Technology Type

Based on the technology type, the market is segmented as wet and dry. The wet flue gas desulfurization systems market accounted for the largest share of more than 80% in 2022. Low sorbent material costs combined with high scrubbing & control efficiencies are some of the major underlying factors that will propel the industry growth. Strict emission standards about power generation and heavy industries will further energize the adoption of wet FGD systems.

On the other hand, the dry flue gas desulfurization systems market is expected to experience strong growth on account of its low capital cost and ease of installation as compared to its available alternative. Compact design and simpler waste disposal processes are some of the major factors that advocate the adoption of these systems. Ongoing investments toward the expansion of medium-scale industrial plants are further likely to bolster product deployment over the forecast timeline.

By Application Type

Based on the application type, the market is segmented as power plants, chemical & and petrochemical, cement, metal processing & mining, manufacturing, and others. The cement application segment is expected to observe significant growth during the forecast period. The SOx emissions from cement manufacturing are primarily generated in pyro pyro-processing stage during fuel combustion. Over 90% of the SOx reduction is accomplished from the installation of FGD systems at cement production plants, which drives the growth of the segment. Furthermore, robust growth across the construction sector along with the introduction of stringent emission standards is set to boost the demand for flue gas desulfurization systems across the cement industry.

Regional Insights

In terms of regions, Asia-Pacific was the largest market for flue gas desulfurization systems with a market share of more than 70% in 2022 and is expected to maintain its dominance during the forecast period as well. The Asia-Pacific region is likely to see increased demand from the power generation industry as a result of the increased regulations and power production in the region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects flue gas desulfurization systems market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The flue gas desulfurization systems market is segmented into the following categories:

By Technology Type

• Wet
• Dry

By Application Type

• Power Plants
• Chemical & Petrochemical
• Cement
• Metal Processing & Mining
• Manufacturing
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the technology types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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