The global Flue Gas Desulfurization System Market size is expected to reach USD 30.62 Billion in 2030 and register a revenue CAGR of 5.22% over the forecast period, according to the latest report by Reports and Data. The market revenue growth for flue gas desulfurization is expected to increase due to the rapid industrialization and infrastructural growth, strict government regulation for Sulfur oxide emission as well as marketable by-products with various applications. Wet scrubbers that remove Sulfur dioxide (SO2) from coal combustion emissions are referred to as flue gas desulfurization. Flue gas desulfurization, or FGD, is a method that is extensively used in power plants to remove Sulfur dioxide (SO2) from exhaust combustion gases that are produced when coal or oil is burned to create steam for turbines used for operating electrical generators. The new requirements are intended to reduce particle emissions by 25%, SO2 emissions by 90%, NOx emissions by 70%, and mercury emissions by 75% in new plants in comparison to current state-of-the-art plants.
However, adoption of clean energy sources is expected to hamper the market revenue growth of FGD. The need to utilize renewable energy sources for sustainability has been characterized by a cleaner, cooler, and healthier environment, due to which the reliance on carbon fuels is reducing. This has led countries to pursue renewable energy sources such as hydropower, offshore and onshore wind, solar photovoltaic, and biofuels. Wind and solar energy are becoming more popular for clean energy sources which also prevents the environment from harmful emissions in the atmosphere. Thus, this is one of the primary restraints that is expected to hamper the market revenue growth for FGD.
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Competitive Landscape:
The global Flue Gas Desulfurization System Market is extremely competitive and comprises various key players at global and regional levels. Major players are focused on adopting various strategies such as mergers and acquisitions, partnerships and joint ventures, RD investments to establish market footing and expand their product base. These are investing in RD to develop enhanced products and devices, modern farming systems and other techniques to boost farm and livestock productivity.
Top companies profiled in the report are:
- Mitsubishi Heavy Industries, Ltd
- General Electric Company
- Doosan Lentjes
- Babcock Wilcox Enterprises, Inc
- Rafako S.A Company
- Siemens AG
- FLSmidth Co. A/S
- Hamon Corporation
- Clyde Bergemann Power Group, Inc
- Marsulex Environmental Technologies.
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Market Dynamics:
The power and energy industry has significantly grown over the recent past and is expected to rapidly expand in terms of revenue share over the forecast period. Power and energy sector has been playing a crucial role in shaping the world. Over the recent years there has been a rapid increase in the demand for power and energy owing to rapidly industrialization and urbanization across the globe. Factors such as increasing demand for power and energy across various sectors such as information technology, pharma and healthcare, agriculture, commercial sites, residences, transportation and other industrial sectors, and government initiatives and subsidiaries are expected to drive market revenue growth over the forecast period. In addition, growing adoption of green energy, high focus on utilizing renewable resources, and rising investments in research and development activities are expected to fuel market growth going ahead.
Some Key Highlights from the Report
- By product, the wet FGD segment accounted for the largest revenue share in 2021, due to its better effectiveness in eliminating sulfur dioxide, which is mostly employed in industrial facilities. Coal is widely used in the flue gas industry, and governments in various countries have introduced stringent regulations requiring the installation of wet FGD.
- The revenue growth of the FGD market is expected to be driven due to factors such as the rising concerns regarding environmental contamination and government initiatives to combat it. International and government laws, such as the Clean Air Act (CAA) and the Mercury and Air Toxics Standards, require power production firms that use fossil fuels to implement equipment that monitor and reduce emissions to a safe level.
- By installation, the component, repairs consumables segment accounted for the largest revenue share in 2021 due to the high yearly expenses of FGD systems, which include OM staff costs, auxiliary power, reagents costs, wastewater treatment costs, repair and maintenance costs, and others.
- By end-use, the power generation segment accounted for the largest revenue share in 2021 and is expected to increase at a faster rate, in terms of revenue share, over the forecast period. This is due to the high usage of Sulfur content in coals used in power plants. Coal-fired power plants are the major source of Sulfur dioxide emission.
- Flue gas desulfurization market in Europe is expected to witness a faster growth over the forecast period as various broadcasters are progressively focusing on providing advanced technology broadcasting formats. This is likely to benefit the video streaming market in the Europe region.
- The flue gas desulfurization (FGD) market in Asia-Pacific accounted for the largest revenue share in 2021 and is expected to account for the fastest CAGR during the forecast period. The demand for FGD systems is expected to rise in India as a result of the FGD implementation plan, which is a key factor that is expected to influence the market growth.
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Flue Gas Desulfurization System Market Segmentation:
By Product Outlook
- Wet FGD System
- Dry FGD System
- Semi FGD System
By Installation Outlook
- Components, Repairs, Consumables
- Greenfield
- Brownfield
By Application Outlook
- New Systems
- Replacements
- Reagents
- Scrubbers
- Ball Mill Slurry
- Cyclone/Fitter Feed
- Others
By End-Use Outlook
- Power Generation
- Chemical
- Iron Steel
- Cement Manufacturing
- Others
Regional scope
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
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