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Industrial Emission Control Systems Market Sees Promising Growth in 2022

07-10-2019 03:09 PM CET | Industry, Real Estate & Construction

Press release from: allied market research

Industrial Emission Control Systems Market Sees Promising

Industrial Emission Control Systems Market is expected to garner $21,133 million by 2022. Electrostatic precipitators (ESP) are estimated to dominate the market from 2015-2022. Asia-Pacific led the market, accounting for around 40% of the global market in 2015.

Regulatory agencies such as EPA have placed strict regulations on acceptable levels of gaseous and particulate emissions that can be released into the atmosphere. The need for complying with these regulations has forced industries such as power generation, chemical, cement, and other industries to employ these systems and decrease the harmful byproducts. Also, increasing regulations on mercury emission across U.S. and China present an opportunity for further growth in the market over the forecast period.

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 the market with around 34.3% share. The high adoption rate of this 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.

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.

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.

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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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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

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