Global air pollution control system market is estimated to grow with 5.24 % CAGR during the year 2019-2027. In 2018, the market was at $69,112 million which is anticipated to grow to $110,529 million in 2027. The base year considered for the study is 2018 and the estimated period is between 2019 and 2027.
Control equipment has applications in a wide range of industries, preventing the release of chemicals, vapors, and dust and filtering and purifying the air within the work environment.
The most important driver is strict government regulations. The demand for air pollution control systems and service is largely affected by the regulatory environment in the regions. The adoption of increasingly stringent environmental regulation requires industries to pay strict attention to environmental protection. Various industrial sectors such as refineries, power, chemical processes, metals, and mineral and industrial manufacturing must comply with various international, federal, state and local government regulations or potentially face substantial fines that force companies to suspend their operations or alter the processes.
The growth of the renewable market and decreasing investments in coal power plants by developed regions are found to restrain the growth of the air pollution control system market.
Geographically, the global air pollution control system market has been segmented on the basis of four major regions, namely, North America, Asia Pacific, Europe and the remaining countries collectively forming the Rest of World.
The European air pollution control systems market consists of major countries such as Russia, Spain, Germany, Italy, France, and the UK, among other Eastern and Central European countries. Europe was the second largest region, in terms of revenue, with xx% market share in 2017, owing to the high demand of these systems from numerous major end-users include industrial and commercial establishments.
The major companies operating in the global market are Thermax Global, Fujian LongKing Co., Ltd., Mitsubishi Hitachi Power Systems, Ltd., KC Cottrell Co., Ltd., Southern Erectors, Inc., Beltran Technologies Inc., Siemens AG, John Wood Group PLC, Zhejiang Feida Environmental Science & Technology Co. Ltd., Elex AG, Mutares AG, FLSmidth & Co. A/S, Babcock & Wilcox Enterprises, Inc., and S.A. Hamon. They have been profiled in detail in the report.