Global Flue Gas Desulfurization (FGD) Market to Reach $23.69 Billion by 2020 – Research by Hexa Reports
Asia Pacific was the largest “flue gas desulfurization market”; it was valued at USD 8.52 billion in 2013 and is expected to witness the fastest growth, at an estimated CAGR of 10.2% from 2014 to 2020.
Felton , United States – August 30, 2016 /MarketersMedia/ —
The global market for flue gas desulfurization is expected to reach USD 23.69 billion by 2020. Flue gas desulfurization market demand is expected to increase owing to growth in demand for electricity. In addition, stringent government regulations regarding emissions of harmful gases in the environment are also expected to drive the FGD market over the forecast period.
New FGD systems were the largest application segment accounting for USD 8.14 billion of global market revenue in 2013. Increasing number of coal-fired power plants in emerging economies is expected to be a key reason for high demand of new FGD systems. Flue gas desulfurization is also used in reagent & replacement applications, which were valued at USD 7.65 billion in 2013.
Further key findings from the study suggest:
Wet FGD systems dominated new FGD market and generated USD 6.86 billion in revenue in 2013 due to higher efficiency and low maintenance characteristics in comparison to other systems. Dry FGD systems are expected to witness the fastest growth, at an estimated CAGR of 5.5% from 2014 to 2020.
Reagents & replacement is expected to be the fastest growing application, at an estimated CAGR of 6.9% from 2014 to 2020. Existing/old systems are expected to generate continuous demand for reagents and equipment replacement. This is expected to boost the equipment replacement systems market over the forecast period.
Asia Pacific was the largest flue gas desulfurization market; it was valued at USD 8.52 billion in 2013 and is expected to witness the fastest growth, at an estimated CAGR of 10.2% from 2014 to 2020. The primary reason for expected growth is the high demand for new FGD systems along with rise in equipment repairs for existing FGD systems in emerging and high-growth markets of China, India, Japan, South Korea and Taiwan.
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Key companies in the market include Alstom S.A., Babcock & Wilcox, Siemens Energy, Thermax, Ducon Technologies Inc., Hamon Research-Cottrell, Mitsubishi Heavy Industries, and Marsulex Environmental Technologies.
For the purpose of this study, Grand View Research has segmented the global flue gas desulfurization market on the basis of technology, application and region:
Flue Gas Desulfurization Technology Outlook (Revenue, USD Million, 2012 – 2020)
Wet FGD Systems
Dry FGD Systems
Flue Gas Desulfurization Application Outlook (Revenue, USD Million, 2012 – 2020)
New FGD Systems
Reagents & Replacements
Flue Gas Desulfurization Regional Outlook (Revenue, USD Million, 2012 – 2020)
North America
Europe
Asia Pacific
RoW
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Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe.We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
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