Press release
Stationary catalytic systems market: Increasing efforts towards maintaining green environment to fuel the industry growth, Industry Trends- 2016-2024:Hug Engineering,Agriemach ,Johnson Matthey
Stationary Catalytic Systems Market size is expected to exceed USD 6 billion by 2024.Stringent regulations towards industrial emission to reduce carbon emission will drive global stationary catalytic systems market size. Retrofit and replacement program of existing coal fired boiler may favor the business growth in future. In 2012, China has replaced 400,000 MW capacity of coal fired boiler with SCR.
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Rising demand for oxidation catalysts to control pollutant emission including formaldehyde, VOC, CO from gas turbine power generators is predicted to propel growth. Positive outlook towards metal, refining, food and chemical industry across Asia Pacific will further complement industry outlook as these sectors have wide application for catalytic incineration processes. Increasing demand for electricity with growing population and rapid industrialization is set to drive the stationary catalytic systems market size in future.
China stationary catalytic systems market size contributed over 30% of regional revenue share in 2015 and is expected to grow over 4%, subject to increasing implementation of coal fired power plants. As of 2016, China has over 900 GW of coal fired power plant and 200GW capacity coal fired plant under construction.
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Key insights from the report include:
Growing demand for construction and renovation of infrastructure will favor the India stationary catalytic system market growth in future. Government of India has aims to invest over USD 376 billion in infrastructure by 2019 which includes USD 120.49 billion for industrial and USD 75.30 billion for port, railway and road connectivity projects.
Stationary catalytic systems market share from catalytic oxidation contributed 36% in 2015. Organic chemicals, resin and polymers &rubber production has its wide application which will positively encourage industry growth.
Peru stationary catalytic systems market size is expected to cross USD 40 million by 2024. Abundant availability of mineral reserves coupled with rising economic growth will propel industry growth.
Canada is planning to invest over USD 24 billion by 2024 on housing, sewage treatment and public transit project which will propel the business growth in future. Canada stationary catalytic systems market share contributed over 20% in 2015.
Major industry participants include Hamon Corporation, DCL International Inc., Babcock &Wilcox Enterprises, Amec Foster Wheeler, Ducon Technologies, Air Clean LLC, Johnson Matthey, BASF, CORMETECH, MECA and APC technologies.
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