Industrial Emission Control Systems Market to Reach $21,133 Million, by 2022
Emission control systems are devices that monitor and diminish the hazardous products, which are released into the atmosphere by combustion and other emission processes in the industrial environment. Emission sources such as power plants, cement, mining & metals, and chemical industries utilize these equipment to convert such air contaminants into water vapor and carbon dioxide, which can be safely released into the atmosphere. The global market for industrial emission control systems is driven by the stringent environmental regulation standards, rapid industrialization, growth in coal power industry in developing countries and cement industry, and adoption of stringent mercury emission regulations. However, the market growth is limited by the increase in use of alternate fuels for power generation and decrease in investment in coal power sector from developed countries such as the U.S. and other European countries.
The global market based on equipment type is segmented into electrostatic precipitators (ESPs), fabric filters, scrubbers, cyclone separators, thermal oxidizers, catalytic reactors, and others. Among these, ESPs dominated of the market with around 34.3% share. High adoption rate of these equipment is due to their low operating costs, high efficiencies, and temperature flexibility. The market for ESPs is projected to grow at a CAGR of 8.2% over the forecast period.
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Based on the emission source type, it is divided into power generation, chemical, cement, mining & metals, pulp & paper, manufacturing, and others. Power generation was estimated to be the most dominant emission source, and may retain its lead in the future. Coal-fired power plants have the highest pollutant emission rates among all the industrial sources. These plants release harmful air pollutants such as sulphur dioxide (SO2), nitrogen oxides (NOX), particulate matter, and others, which are being controlled by use of advance emission control technologies. The growth in the market for power generation segment is driven by installation of new power plants and retrofit activities in existing plants.
The global market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the most dominant market in 2015, and is expected to continue to its this trend throughout the forecast period. In this region, major downstream industries such as power generation, building materials, chemicals, and pulp & paper have created high demand for extraction, desulphurization, and emission control equipment. The market in Asia-Pacific is dominated by China, which witnessed rapid development in the past few years due to the high level technology, booming downstream industries, and increasingly stringent regulations.
Asia-Pacific is estimated to be the fastest growing regional market for industrial emission control systems, owing to growth in the Chinese and Indian markets. This is expected to be attributable to growth in power generation sector and government initiatives in infrastructure and urban development, which drive the cement industry.
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Key findings of the Industrial Emission Control Systems Market:
• In 2015, ESPs led the overall market revenue, and are projected to grow at a CAGR of 8.2% during the forecast period.
• The thermal oxidizers segment is expected to grow at a significant CAGR of 9.2% owing to their ability to destroy odors and toxic VOCs and operate at high efficiencies.
• Cement industry segment is projected to grow at a CAGR of 8.3%.
• China is the major shareholder, accounting for around three-fourths of the Asia-Pacific industrial emission control systems market.
The key players in the industrial emission control systems focus on expanding their business operations in fast-growing emerging countries and adopt acquisition as their key growth strategy. The major players profiled in this report include General Electric Company, Mitsubishi Hitachi Power Systems Ltd., Fujian Longking Co., Ltd, Johnson Matthey PLC, Ducon Technologies Inc., Babcock & Wilcox Co., AMEC Foster Wheeler PLC, CECO Environmental Corp, Hamon Corporation, Thermax Ltd, and BASF SE.
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