| Source: Fior Markets
Newark, NJ, Sept. 16, 2020 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global flue gas treatment systems market is expected to grow from USD 60.92 billion in 2019 to USD 90.01 billion by 2027, at a CAGR of 5.0% during the forecast period 2020-2027.
Certain vital factors are responsible for the growth of the market such as the growth of the cement industry, formulation & implementation of stringent air pollution control regulations, development of marketable by-products from the treatment process, implementation of Mercury & Air Toxic Standards in the USA, growing number of coal-fired power plants worldwide, and the deployment of post-combustion carbon capture equipment in multiple industries.
Flue gas treatment systems are employed to post-combust NOx (Nitrogen Oxides) into nitrates or molecular nitrogen. Flue gas treatment is a process designed to lower the amount of pollutants emitted by fossil fuel burning at industrial facilities, power plants, or other sources. The two commercially feasible methods that exist for post-combustion control are selective catalytic reduction (SCR) & selective non-catalytic reduction (SNCR). When fossil fuels such as oil, coal, wood, or natural gas are burned for heat or power, flue gas is emitted. This gas contains pollutants like sulfur dioxide, mercury, carbon dioxide, particulates and mainly nitrogen oxides.
With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world’s economy and has negatively impacted all kinds of markets, including the flue gas treatment systems market. With lower tax collection and broken supply chains for components, the market’s growth is expected to slow down.
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Key players operating in the global flue gas treatment systems market include FLSmidth, General Electric, Siemens, Babcock & Wilcox Enterprises, Inc., Clyde Bergemann Power Group, Doosan Lentjes, AMEC Foster Wheeler, Mitsubishi Hitachi Power Systems, Ltd., Marsulex Environmental Technologies, and Thermax Limited among others. To gain a significant market share in the global flue gas treatment systems market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Mitsubishi Hitachi Power Systems, Ltd. and Babcock & Wilcox Enterprises, Inc. are some of the biggest manufacturers and suppliers of flue gas treatment systems in the global market.
System segment dominated the market and held the largest market share of 59.2% in the year 2019
On the basis of type, the global market has been segmented into service and system. System dominated the market and held the largest market share of 59.2% in the year 2019. This is primarily due to factors such as increasing number of new installations of flue gas treatment systems in various end-use industries & upgrading existing ones, increasing number of environmental regulations in emerging countries such as Thailand, India, & China, among others, and new upcoming power plants in multiple countries such as India, China, Japan, & Poland in the next decade
Particulate control segment dominated the market and valued at USD 14 billion in the year 2019
The pollutant control system segment comprises of DeNOx, mercury control, particulate control, flue gas desulfurization, and others. Particulate control dominated the market and valued at USD 14 billion in the year 2019. It is anticipated to continue its dominance over the forecast period. The large share of this segment is attributed to the growing consumption of electrostatic precipitators & bag filters in multiple end-use industries like iron & steel, chemical & petrochemical, power, cement, and non-ferrous metal among others to control waste particulate matter generation.
Power segment dominated the market and held the largest market share of 21.4% in the year 2019
Based on end-use, the market has been divided into iron & steel, chemical & petrochemical, power, cement, non-ferrous metal, and others. Power segment dominated the market and held the largest market share of 21.4% in the year 2019. This segment is expected to lead the flue gas treatment systems market over the coming year due to factors like increasing compliance of different sectors to environmental legislation, development of advanced & innovative emission control technologies, and the rise in the number of coal-based power plants in multiple countries like China, Poland, Japan, & India.
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Regional Segment Analysis of the Flue Gas Treatment Systems Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global flue gas treatment systems market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Asia-Pacific region accounted for the major market share of 33.7% in the year 2019 and is anticipated to grow throughout the projected period. The large share of this segment is attributed to key factors such as many positive initiatives undertaken by different governments of the APAC countries to attract investments from MNCs, sizeable industrial base in the region and increasing demand for flue gas treatment systems from chemical & petrochemical, power, iron & steel, and cement industries of the area. The Asia-Pacific region is also expected to grow at the highest CAGR during the forecast period 2020-2027. Emerging economies like India, China, Poland, Japan, and Thailand are especially lucrative, considering their growth potential.
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About the report:
The global flue gas treatment systems market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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