Flue Gas Desulfurization Systems Market By Competitive Analysis, Top Trends & Projections To 2025
Flue gas desulfurization (FGD) systems market is estimated to witness considerable growth on account of increasing investments toward the expansion of coal-fired power generation units.
Flue gas desulfurization (FGD) systems market is estimated to witness considerable growth on account of increasing investments toward the expansion of coal-fired power generation units. Emerging economies across the world are heavily investing in coal-fired power plants to cater to the rising demand for electricity led by rapid urbanization. Rampant expansion activities initiated across the industrial sector coupled with rising adoption of heavy electrical equipment would stimulate the demand for FGD systems across such plants over the forthcoming years.
Growing concerns over deteriorating air quality has meanwhile compelled multiple governments to impose new air quality norms and standards to curb the hazardous effects of SOx emissions. This could boost the adoption of flue gas desulfurization systems as they help in lowering SOx levels.
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Rising concentration of SOx pollutants in the air can cause prominent health issues like skin irritation, inflammation of the respiratory system, and breathing difficulties. Adoption of such initiatives might hugely benefit the FGD business outlook. According to a study conducted by Global Market Insights, Inc., the flue gas desulfurization systems market could cross USD 27 billion by the year 2025.
This growth can be attributed to some of the ongoing trends mentioned below:
- Surging demand across India-
Escalating number of expansion projects to develop thermal power generation capacities across India might advance the demand for FGD systems in the country. Estimates say that the regional market could observe healthy growth over the forthcoming years.
Factors like growing urbanization and rapid industrialization have boosted the demand for uninterrupted power supply across both the industrial and commercial sectors. This could massively benefit the adoption rate of FGD systems.
- Stringent federal regulations-
Growing concerns over surging levels of air pollutants have compelled governments to impose strict norms over the industrial sector, forcing businesses to implement effective emission control systems to minimize hazardous pollutants. Mounting imposition of new stringent environmental mandates centered around minimizing overall emission levels might significantly enhance FGD systems industry landscape.
State-funded agencies like EPA (Environmental Protection Agency) have imposed norms under the Clean Air Act (CAA), enabling restriction on specific air pollutants and the limiting level of pollutants in certain areas across the U.S. This gives EPA the authority to regulate the level of emissions generating from sources like utilities, steel mills, and chemical plants across the U.S.
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Adoption of lucrative business strategies-
Prominent players like AMEC Foster Wheeler, KCH Services, Ducon, GEA Group, General Electric, DuPont Clean Technologies, Verantis, Nederman Mikropul, Tri-Mer Corporation, CECO Environmental, and MHPS are looking to finalize acquisition deals to expand their overall geographical presence. Taking November 2017 for instance, Yokogawa Electric Corporation bagged a contract to supply control systems a FGD system for the Ugljevik coal-fired power plant.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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