Industrial Emission Control Systems Market Sees Promising Growth in 2022
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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