Sulphur Recovery Technology Market is expected to grow at compound annual growth rate (CAGR) of 11% for 2021 – 2031.

Newly released data by Future Market Insights (FMI), projects that the sulphur recovery technology market will reach valuation of US$ 1.2 Bn by 2021 and is expected to grow at compound annual growth rate (CAGR) of 11% for 2021 – 2031. The increasing production of shale gas will accelerate the growth with top market players holding 2/5th of sulphur recovery technology market share in 2021.

Furthermore, increasing expansion projects across the world are expected to be a major factor contributing towards sales of global sulphur recovery technology.

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According to the recent research report published by Future Market Insights, the sulphur recovery technology market is expected to exhibit an impressive CAGR of 11% during the forecast period of 2021-2031.

Key Takeaways of Sulphur Recovery Technology Market Study

Increasing exploration and production activities, especially those associated with shale gas, led to high demand for sulphur recovery technology units from refineries. Production of recovered sulphur from gas refining activities is increasing significantly, attributable to the rise of major gas refining activities across the globe.
In terms of plant capacity, there is a rising demand for sulphur recovery technology units with capacity of less than 100 t/d, owing to lower emission footprint, ease of upgradation, and relative cost-effectiveness as compared to other units.
Stringent environmental regulations regarding emission of hydrogen sulfide mainly released during oil & gas extraction, treatment, transportation, and refining are boosting the demand for development of cost-effective desulphurization technologies. For instance, environment legislation of EU (European Union) sets the standards for oil & gas refineries industries in Europe.
The oil and gas production in prevailing refineries is expected to have a greater impact on the growth and development of the global sulphur recovery technology market in comparison to new refinery bases.
In terms of value and volume, Europe and the MEA are identified as dominant regions throughout the forecast period. Increasing number of refineries projects in countries in Europe and MEA such as Saudi Arabia, Kazakhstan, and Russia, are expected to supplement the demand for sulphur recovery technology. These countries also have oil reserves, which in turn support the demand for sulphur recovery technology.
“APAC is one of the majorly profitable markets for players offering sulphur recovery technology, attributable to the establishment of new refineries to cater to growing demand for new gas refining units in the region,” says an FMI analyst.

Sulphur Recovery Technology Market: Competitive Landscape

The global sulphur recovery technology market has remained competitive with the presence of giant players having expertise in advanced manufacturing technologies, and product offerings for diverse applications.

However, leading players account for nearly 2/5th of the global sulphur recovery technology market share. These players include.

Royal Dutch Shell plc,
Exxon mobile Corporation,
Bechtel Corporation,
Fluor Corporation, and
Linde AG & Technip FMC plc.
Such key players are adopting strategies such as expansion, acquisitions, and product launches, and are creating challenges for small-scale players.

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Key Segments Covered in Sulphur recovery technology Market Study:

Technology:

Claus Process
Tail Gas Treatment

Source of Recovery:

Oil
Gas
Others

Capacity:

300 t/D

Region:

Asia Pacific
North America
Latin America
Europe
MEA

Key Points Covered in Sulphur Recovery Technology Market Study

Market estimates and forecast 2021 – 2031
Key drivers and restrains impacting market growth
Segment-wise, Country-wise, and Region-wise Analysis
Competitive Mapping and Benchmarking
Brand share and Market Share Analysis
Key Product Innovations and Regulatory Climate

COVID-19 Impact On Sulphur recovery technology Market
Recommendation on Key Winning Strategies

Key Questions Answered in the Report

What is sulphur recovery technology market size?Driven by rising necessity to control the sulphur and sulphur dioxide emission, the sulphur recovery technology market size is forecast to reach US$ 1.2 Bn in 2021
At what rate did the sulphur recovery technology market expand in the last five years?Between 2016 and 2020, the sulphur recovery technology market experienced healthy growth at 7% CAGR.
What are the key trends shaping the sulphur recovery technology market?Direct partnerships with engineering, procurement, and construction and end users by OEMs backed with periodic contractual service module offerings are the key trends observed in the market.
What are the key factors driving sulphur recovery technology market demand?Increasing up-gradation in tail gas treatment technology, lower emission footprint, and better cost benefits sulphur recovery technological solutions are driving the market demand.
What is the North America sulphur recovery technology market outlook?Demand registered in North America will continue rising, backed by increasing sales in the U.S. and Canada, the North America market will growat 19% CAGR during 2021 to 2031.
Who are the leading companies in sulphur recovery technology market?Royal Dutch Shell plc, Exxon mobil Corporation, Bechtel Corporation, Fluor Corporation, and Linde AG & Technip FMC plc are the top five companies in the market.
What is the cumulative share of top five companies in sulphur recovery technology market?Top players account for nearly 45% of the sulphur recovery technology market share as of 2021.
At what rate will sulphur recovery technology sales increase in Europe?Sulphur recovery technology sales will increase at 12% CAGR in Europe, backed by rising demand in the U.K., Germany, and other countries.
Which are the top five countries driving sulphur recovery technology market demand?Leading countries driving demand in the sulphur recovery technology market are the U.S., South Africa, Kazakhstan, India and China.
What are the key statistics for sulphur recovery technology market in Japan and South Korea?Japan and South Korea held around 8% share in the overall sulphur recovery technology market in 2021.

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This release was published on openPR.