Flue Gas Desulfurization System Market worth 19.96 Bn USD by 2021

Monday 26 September 2016, Amsterdam

The report, now available on ASDReports, "Flue Gas Desulfurization System Market by Type (Wet FGD, Dry & Semi-Dry FGD), Application (Power Generation, Chemical, Iron & Steel, Cement Manufacturing, Others), Region (North America, Europe, APAC, Middle East & Africa, Latin America) - Global Forecast to 2021", The global flue gas desulfurization system market is projected to grow from USD 14.35 Billion in 2015 to USD 19.96 Billion by 2021, at a CAGR of 5.7% between 2016 and 2021. Increasing demand for the flue gas desulfurization system from the power generation industry is expected to drive the growth of the market in the near future.  

Power generation was the fastest-growing end-user segment of the global flue gas desulfurization system market

Based on end-user, the FGD system market has been segmented into power generation, chemical, iron & steel, cement, and others. The power generation segment contributed the largest share to the flue gas desulfurization system market in 2015, and is projected to be the fastest-growing application segment from 2016 to 2021. Based on the increase in the number of end-users, the power generation segment is expected to lead the FGD system market, as most developing and developed countries are dependent on coal for electricity generation. The FGD system market will also witness an increase in demand from the power generation industry due to stringent regulations which require the control of sulfur emissions.

The dry & semi-dry FGD segment was the largest segment of the flue gas desulfurization system market

Based on type, the flue gas desulfurization system market has been segmented into the wet FGD system, and the dry & semi-dry FGD system. The wet FGD system was the largest segment of the market in 2015 whereas, the dry & semi-dry FGD system segment is estimated to project a higher growth rate from 2016 to 2021. Typically, in the same plant size, dry & semi-dry FGD systems are cheaper than wet FGD systems, but have less SO2 removal efficiency. Hence, low cost is the prime reason for the adoption of the dry & semi-dry FGD system.

The Asia-Pacific region was the largest market for the flue gas desulfurization system in 2015, globally

The Asia-Pacific region was the largest market for the flue gas desulfurization system in 2015, owing to the increase in demand for the flue gas desulfurization system in this region. The market growth in the Asia-Pacific region is driven due to the stringent air emission standards required to be followed by coal-based thermal power plants in China and India. This is expected to drive the demand for the FGD system at a higher CAGR as compared to other countries in the Asia-Pacific region.

The key players operational in the flue gas desulfurization system market include Alstom SA (France), Babcock & Wilcox Enterprises, Inc. (U.S.), FLSmidth & Co. A/S (Denmark), Hamon Corporation (London), Siemens AG (Germany), and  Clyde Bergemann Power Group (U.S.), Burns & Mcdonnell (U.S.), Marsulex Environmental Technologies (U.S.), Mitsubishi Electric Corporation, Ltd. (Japan), and Thermax Limited (India).