The global flue gas desulphurization market is expected to develop at a CAGR of 3% between 2020 and 2030. The need to battle air pollution has increased demand for flue gas desulphurization (FGD) systems.
The global flue gas desulphurization market is expected to register a CAGR of 3% during the forecast years of 2020 and 2030. The growing need to fight the air pollution battle has boosted the demand for flue gas desulphurization (FGD) systems. Stringent national and international laws to install air filtration units in places that emit Sulphur dioxide (SO2) are expected to key drivers for this market in the next decade. All the prominent industrialized nations around the globe have formulated regulations concerning mitigation of carbon and sulphur dioxide emissions as maintaining global temperature gained spotlight.
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Emission Norms to Necessitate Installation of FGD Systems
The growing development and concentration of manufacturing operations in Asia Pacific has created an urgent need for FGD technology to reduce emissions. Furthermore, exponential power consumption and the rise of coal-fired operations, particularly in China and India, are expected to benefit this sector. Following the recent epidemic, the focus on finding climate change solutions will draw attention to any strategy for lowering emissions. As the economy improves, governments will rush to invest in FGD technology to clean the air, prevent acid rain from nitrogen and sulphur particles, and improve temperature conditions.
Power Generation Sector to Remain Key End User due to Coal
On the basis of type, the FGD market can be segmented into dry and semi-dry FGD system and wet FGD system. Analysts expect that the wet FGD segment will pace ahead as it highly efficient and is thus found in majority of the industrial units. As coal-fired plants are biggest contributors of flue gases, it is mandatory to ensure efficient systems to ensure clean coal energy generation. This is expected to keep wet FGDs segment in the lead in the coming decade.
The key end users of FGD technology are manufacturing plants, chemical industries, iron and steel industries, power generation, and others. The power generation segment is expected to assume lead as demand for electricity and power continues to be relentless in developing economies. Economies focussing on manufacturing will continue to demand high energy generation, which in turn will feed the demand for FGD technology during the forecast period.
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Asia Pacific to Lead as Manufacturing Activities Remain Integral of Developing Nations
In terms of region, Asia Pacific is expected to exhibit a steady growth during the forecast period. In an earlier forecast though India and China presented incredible opportunity, the focus is now shifting from China. Manufacturing units are looking at shifting base from China to Japan and India as the world tries to cope with COVID-19 pandemic. As coal continues to be a cheap source of energy in developing economies, the rise of manufacturing will be Asia Pacific’s way ahead in the global economy. This in turn will keep the regional ahead as the economy recovers.
Key Players
The key market players in FGD market are Ducon Technology Inc., Alstom S.A., Mitsubishi Heavy Industries, Siemens Energy, Wilcox, Marsulex Environmental Technologies, and Babcock
How Will Growth Unfold?
In the coming years, containing emissions, cleaner air, and a lesser negative impact on environment are likely to be the key goals of any big company. Every nation will have to rework its strategies to recover of the ongoing 2020 recession while taking care of the environment. Thus, the future of the FGD systems is a bright one. Analysts at FMI anticipate that the market will steadily recover and flourish as energy mixes alter. However, the players need to rethink of building their markets as alternative energy solutions will gain prominence.
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
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