Nitrogen Oxide Control Systems Market : Top Companies, Regional Growth Overview and Growth Factors Details by Regions
Nitrogen Oxide Control Systems Market was valued at $17,833 million in 2017, and is projected to reach $28,044 million by 2025, registering a CAGR of 5.7% from 2018 to 2025.
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The global nitrogen oxide control systems market is driven by factors such as stringent government regulations and programs, such as the Clean Air Act Amendments of 1990 and the Ozone Transport Region (OTR) NOx Cap and Allowance Trading Program, to reduce nitrogen oxide emission in different industries such as power generation, cement manufacturing, chemicals, and metal processing.
However, limited operational range of this system is a major performance issue, which is expected to hinder the growth of the global nitrogen oxide control systems market. New developments in pollution control technologies and increase in consumer awareness regarding pollution control are expected to offer growth opportunities to the global nitrogen oxide control systems market.
Nitrogen oxide control systems based on selective catalytic reduction (SCR) technology are in high demand among end users. However, the selective non-catalytic reduction (SNCR) technology is expected to grow at a high CAGR during the forecast period. The SNCR operating and capital costs are lowest among all the NOx reduction methods, and the retrofit is also relatively simpler. In addition, SNCR has low downtime for large- and medium-size units. Furthermore, it is applied with combustion control to ensure higher NOx reduction.
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Key Findings of the Nitrogen Oxide Control Systems Market:
• The selective catalytic reduction segment accounted for two-fifths market share in 2017.
• The industrial segment is anticipated to grow at the highest rate in the nitrogen oxide control systems market during the forecast period.
• The Asia-Pacific nitrogen oxide control systems market accounted for nearly half of the market share in 2017.
• The LAMEA region is anticipated to grow with the highest CAGR of 7.6% during the forecast period.
Asia-Pacific was the leading revenue contributor to the global NOx market in 2017, and it is expected to dominate the market during the forecast period. The demand for cement in the construction industry has been growing at a significant rate in the Asia-Pacific region, which has led to increase in emissions of nitrogen oxide into the atmosphere. Cement manufacturing along with transportation is one of the important applications of nitrogen oxide control systems. Likewise, coal-fired power plants have been experiencing high growth rates in countries such as China, India, Vietnam and Japan, further propelling the demand for nitrogen oxide control systems and boosting the growth of the market.
The key players of this market include Babcock & Wilcox Enterprises, Inc., CECO Environmental, Ducon Technologies, Inc., Fuel Tech, Honeywell International, Inc., John Wood Group PLC, Mitsubishi Hitachi Power Systems, Ltd., S.A. Hamon, Siemens AG, and the Shell Group. Other players (these players are not profiled in the report, and the same can be included on request) in the value chain include Thermax Limited, Fujian Longking Co., Ltd., and Delphi Technologies.
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