Electrostatic Precipitator Market Size to Hit $10.0 Billion by 2030, at a CAGR of 4.3%

The global electrostatic precipitator market is projected to reach $10.0 billion by 2030, growing at a CAGR of 4.3% from 2021 to 2030. The global electricity demand is increasing rapidly, which, in turn, has led the power generation sectors to maximize their power generation capacities. For instance, according to a report published by the Indian Ministry of Power, the electricity generation target from conventional sources for the year 2021-2022 is 1,356 billion unit (BU), which is a growth of around 9.83% as compared to 2020-2021. This has led conventional sources-based power plants such as coal-fired and gas-based power plants to witness a significant growth, wherein electrostatic precipitator is widely used for soot and ash removal purposes from the exhaust gas. In addition, these power plants are connected with the rigorous government regulation for upholding the requirement for keeping particulate matter emissions within standard limits. This is anticipated to increase the sale of electrostatic precipitators among coal-fired and gas-fired power plants, thus creating remunerative opportunities for the market.

Download sample report @ https://www.alliedmarketresearch.com/request-sample/747

The static electrostatic precipitator market analysis is done on the basis of product type, end use, and region. By product type, the market is segregated into plate wire, flat plate, tubular, wet, and two-stage. The plate wire segment dominated the global market in terms of revenue in 2020, with over one-third of the total share. This is attributed to the fact that the global electricity demand is increasing rapidly, which, in turn, has led the coal-fired and gas-based power plants to witness a significant increase in demand. This is expected to increase the sales of plate wire type electrostatic precipitators for reducing the particulate matter from exhaust gas in power plants.

By end use, the global market is divided into power generation, chemicals, metal, petroleum refineries, cement, and others. The power generation segment dominated the global market in terms of revenue in 2020, with over two-fifth of the total share. Increase in foreign direct investment (FDI) and integration of power development schemes are expected to augment the growth of power generation sector, where electrostatic precipitator is widely used for ash and soot removal purposes.

Region-wise, the electrostatic precipitator market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific electrostatic precipitator market size is projected to grow at the highest CAGR during the forecast period and accounted for 41.3% of electrostatic precipitator market share. Rise in investments in the power sector in the countries such as India and Australia is expected to increase the sales of electrostatic precipitators in power generation sector for reducing the level of particulate matter within acceptable limits.

The key players operating in the global electrostatic precipitator market include Babcock & Wilcox Enterprises, Inc., DUCON, FLSmidth, General Electric, John Wood Group PLC, Mitsubishi Power, Ltd, S.A. Hamon, Siemens AG, Thermax Limited, and Trion IAQ.

For Enquiry @ https://www.alliedmarketresearch.com/purchase-enquiry/747

COVID-19 analysis

The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The electrostatic precipitator market has been negatively impacted due to the wake of the COVID-19 pandemic, owing to its dependence on the oil & gas, chemicals, cement manufacturing, and power sectors. According to a report published by the Energy and Economic Growth Survey, the oil & gas sector is among the hardest hit sector with an average contraction of -2.8% in 2020.

In addition, more than 100 countries have locked their international borders for transportation and nonessential trade activities, which, in turn, have hampered the demand-supply chain of the electrostatic precipitators market. Furthermore, the temporary shutdown of oil refineries and chemical manufacturing industries amid the COVID-19 period has reduced the consumption of electrostatic precipitators for soot and ash removal purposes. For instance, according to a report published by the Indian Ministry of Petroleum & Natural Gas, the central public sector enterprise (CPSE) refineries has produced 7,103.76 thousand metric tons (TMT) of crude oil in April 2020 that is 28.91% lower than the target for the month and 36.93% lower than the production achieved in the corresponding month of 2019. This has severely affected the demand for electrostatic precipitators among the oil refineries during the COVID-19 situation.

Furthermore, the decline in global electricity consumption due to the shutdown of large-scale industries, offices, and malls has led the electrostatic precipitator market to witness a downfall in demand. For instance, according to a report published by the International Energy Agency (IEA), a large reduction of coal-fired power generation occurred in China, owing to a decrease in electricity demand during March 2020.

Get detailed COVID-19 impact analysis on the Market @ https://www.alliedmarketresearch.com/request-for-customization/747?reqfor=covid

About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow us on | Facebook | Twitter | LinkedIn

This release was published on openPR.