Flue Gas Desulfurization (fgd) System Market Worth 21.00 Bn Usd by 2022
Monday 15 January 2018, Amsterdam
The report "Flue Gas Desulfurization (FGD) System Market by Installation (Greenfield, Brownfield), Type (Wet FGD System, Dry & Semi-Dry FGD System), End User (Power Generation, Chemical, Iron & Steel, Cement Manufacturing), and Region - Global Forecast to 2022", The flue gas desulfurization (FGD) system market is projected to grow from USD 16.00 Billion in 2017 to reach USD 21.00 Billion by 2022 at a CAGR of 5.6% from 2017 to 2022. The enforcement of various federal laws and regulations that mandate the SOx emitting industries to install air quality control equipment in their plants has spurred the growth of FGD system market across the globe.
Based on type, the wet FGD system segment is projected to lead the FGD system market during the forecast period.
Based on type, the wet FGD system segment is expected to lead the FGD system market in 2017 as wet FGD systems are widely used in various industrial plants, owing to their high efficiency (> 95%) to remove sulfur dioxide (SO2) from flue gas. Since coal-fired power plants are the chief contributors of flue gas to the environment, most of the countries across the globe have strictly implemented various emission standards for power generation plants that mandate them to install FGD systems with high removal efficiency. Thus, the demand for wet FGD systems is increasing across the globe to meet the various environmental standards set across the globe.
Among end users, the power generation segment is expected to lead the FGD system market from 2017 to 2022.
Based on end user, the power generation segment is expected to lead the FGD system market during the forecast period as most of the emerging and developed economies are still dependent on coal for electricity generation. China is the market leader in terms of installations of wet FGD systems in power plants. In December 2012, China had the maximum number of proposed power plants across the globe. This, in turn, increased SOx emissions in China, thereby driving the demand for wet FGD systems with high removal efficiency to meet the emission standards set by the Government of China.
The Asia Pacific FGD system market is projected to grow at the highest CAGR from 2017 to 2022.
The Asia Pacific region is a highly potential market for FGD systems. The Asia Pacific FGD system market is projected to grow at the highest CAGR market during the forecast period. The growth of the Asia Pacific FGD system market can be attributed to continuously increasing demand for energy, rapid industrialization, and rise in awareness towards adverse impacts of air pollution in the region. The chemical sector in the Asia Pacific region is growing continuously, thereby leading to the increased demand for FGD systems from the region. This, in turn, is fueling the growth of the Asia Pacific FGD system market during the forecast period. The flourishing cement manufacturing and metal smelting industries in the region are also contributing to the growth of the Asia Pacific FGD system market.
Mitsubishi Heavy Industries (Japan), General Electric (US), Doosan Lentjes (Germany), Babcock & Wilcox (US), RAFAKO (Poland), Siemens (Germany), FLSmidth (Denmark), Hamon Corporation (US), Clyde Bergemann Power Group (UK), Marsulex Environmental Technologies (US), Thermax (India), and ANDRITZ (Austria), among others are the key players operating in the FGD system market across the globe.