Industrial DeNOx Systems & Services Market Analysis | 2024-2030

Market Insights

The industrial DeNOx systems & services market was estimated at USD 7.4 billion in 2023 and is likely to grow at a CAGR of 8.17% during 2024-2030 to reach USD 12.84 billion in 2030.

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Market Dynamics

Introduction

Industrial DeNOx systems & services are technologies and solutions designed for the reduction of nitrogen oxide (NOx) emissions in industrial processes. NOx gases, which include nitric oxide (NO) and nitrogen dioxide (NO2), are pollutants produced during combustion processes in industrial facilities, such as power plants, refineries, and manufacturing plants. These emissions contribute to air pollution and environmental issues.

COVID-19 Impact

Due to COVID-19, many industries experienced project delays and interruptions as lockdowns and restrictions affected construction activities and industrial operations. Economic uncertainties and cost-cutting measures in various industries may have led to budget constraints, impacting investment decisions in environmental solutions. Industrial DeNOx systems & services, a sizeable market, could not escape from such trends and witnessed a colossal decline amid the pandemic.

Market Drivers

The demand for Industrial DeNOx systems and services is surging because of heightened awareness for better air quality and stricter emissions regulations. Companies in this sector are innovating to provide creative solutions, addressing industries' efforts to reduce their environmental impact. Despite challenges from the pandemic, the industry is expected to grow as more businesses recognize the importance of clean air and sustainable practices.

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Key Players

The following are the key players in the industrial DeNOx systems & services market:

• Alstom SA
• Mitsubishi Heavy Industries
• China Environment Ltd
• Doosan Power Systems
• Babcock Noell GmbH
• FLSmidth & CO
• Fuel Tech
• Burns & McDonnell
• Haldor Topsoe A/S
• Babcock & Wilcox Company

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

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Segment Analysis

By Type

Based on the type, the industrial DeNOx systems & services market is segmented into SCR and SNCR. SCR is expected to be the fastest-growing type in the market during the forecast period. Increasingly stringent emission standards and regulations worldwide are driving industries to adopt advanced technologies like SCR to achieve substantial reductions in nitrogen oxide (NOx) emissions.

By Application Type

Based on the application type, the market is segmented into Utilities and industries. Utilities is expected to remain the pioneer in the market during the forecast period. Utilities operate on a large scale, often with multiple combustion units and power plants. The magnitude of their operations necessitates robust and effective NOx reduction solutions, making DeNOx systems a critical component of their environmental management strategies.

Regional Insights

In terms of regions, North America is expected to remain the largest market for industrial DeNOx systems & services during the forecast period. North America, particularly the United States and Canada, has some of the most stringent environmental regulations aimed at reducing air pollution and controlling nitrogen oxide (NOx) emissions. Industries in the region are compelled to adopt advanced DeNOx systems to comply with these regulations, driving the market's growth.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s industrial DeNOx systems & services 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 the market dynamics and will enable strategic decision-making for the 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, Product 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 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 industrial DeNOx systems & services market is segmented into the following categories:

By Type

• SCR
• SNCR

By Application Type

• Utilities
• Industries

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, and The Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and The Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, 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 three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

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

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com