Reports And Data
The growth of the market is governed by various factors such as increasing air pollution from the release of sulfur dioxide in the atmosphere.
NEW YORK CITY, NEW YORK, USA, August 10, 2022 /EINPresswire.com/ — The flue gas treatment systems market is expected to reach a value of USD 95.41 Billion by 2028, and register a CAGR of 4.90%, according to a new report by Reports and Data. The demand for flue gas treatment systems is growing in power plants, chemical manufacturing units, iron & steel, and cement manufacturing industries due to the stringent government policies concerning the environmental hazards. Rapid industrialization and growth of infrastructure are going to push the market. Increase in demand for power assisted with dependence for coal will encourage the market in the coming years. Technological advancements in high performing equipment and decreasing the cost of it is going to provide new players with opportunities to explore.
APAC is anticipated to witness the highest CAGR of 5.4% during the forecast period. APAC is forecasted to be the highest growing region owing to the rising population levels in China and India. Government policies will boost the market. The demand for power generation in this region due to the growing infrastructure and industrialization is set to fuel the growth of the market in this region.
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Further key findings from the report suggest
• The flue gas treatment systems market is estimated to reach USD 95.41 Billion by 2028, at a CAGR of 4.90% during the forecast period.
• Systems customers marketing mode accounts for the largest share of 46.7% of the market in 2018.
• Power end user segment is anticipated to witness the highest CAGR of 5.7% during the forecast period.
• In APAC, power generation generates revenue of USD 4.96 Billion in 2018 and is forecasted to generate USD 7.66 Billion in the year 2026.
• The mercury control type is expected to witness the highest CAGR of 7.4% during the forecast period.
• APAC to have the highest market share owing to the emergence of manufacturing units and their utilization of coal.
• Countries like India and China have developed as global manufacturing centers for construction, automobile, and several other sectors. The massive population growth and the approving regulations set by various regional governments in APAC are anticipated to have a positive influence on the manufacturing industry.
• The market in the Asia Pacific region accounts for the largest share of 31.3% of the market in 2018 and is expected to be the fastest growing market. The increasing number of coal-based power plants and thriving chemical & petrochemical industry in the region are kindling the growth of the Asia Pacific market. Furthermore, continuous urbanization in the region has also led to an increased demand for constructing new infrastructures in the region, which, in turn, has enhanced the need for cement in the region.
• Various players are developing strategies to mark their presence in the industry.
• The Key players in the Flue Gas Treatment Systems Market include General Electric, Babcock & Wilcox Enterprises Inc, Mitsubishi Hitachi Power Systems Ltd., Doosan Lentjes, Thermax Limited, FLSmidth, Siemens, Marsulex Environmental Technologies, Clyde Bergemann Power Group, and AMEC Foster Wheeler.
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For the purpose of this study, Reports and Data have segmented the market on the basis of Control Type, Marketing Mode, End User, and region:
Control Type Outlook (Volume; and Revenue, USD Billion ; 2018-2028)
• Particulate Control
• Flue Gas Desulfurization
• Mercury Control
Marketing Mode Outlook (Revenue, USD Billion ; 2018-2028)
• Systems Customers
• Direct Marketing
• Indirect Marketing
End User Outlook (Revenue, USD Billion ; 2018-2028)
• Iron & Steel
• Chemical & Petrochemical
Regional Outlook (Revenue, USD Billion ; 2018-2028)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
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