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Electrostatic Precipitator Market: $6.6 billion in 2020, projected to reach $10.0 billion by 2030, growing at 4.3% CAGR from 2021

06-21-2024 06:37 AM CET | Energy & Environment

Press release from: Allied Market Research

Electrostatic Precipitator Market

Electrostatic Precipitator Market

The global electrostatic precipitator market forecast was valued at $6.6 billion in 2020, and is projected to reach $10.0 billion by 2030, growing at a CAGR of 4.3% from 2021 to 2030.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ: https://www.alliedmarketresearch.com/request-sample/747

Electrostatic precipitator (electrostatic air cleaner) is a device that removes certain impurities such as solid particles or liquid droplets from air or gaseous stream. It uses electric charge to remove impurities coming out from smokestacks and other flues.

Countries such as the U.S., China, and India are witnessing rapid growth in industrialization. The sectors such as public transportation, automobiles, and energy (power plants) are contributing a major share to the growth of the economy. According to the United Nations Industrial Development Organization (UNIDO), the developing economies such as China and India have witnessed 30% growth in industries and power sectors. Electrostatic precipitators are used for removing soot and ash from exhaust fumes, thus reducing the level of particulate matter within the environmental limits. This has made them an ideal solution for several end-use sectors, including oil & gas, automotive, and industrial manufacturing for reducing the particulate matter from the exhaust air. Furthermore, they find application in municipal waste incinerators for reducing the hazardous soot and ash from direct release to the atmosphere. Thus, the development of these sectors, wherein electrostatic precipitators play a major role, fuels the growth for the global electrostatic precipitator market in both developed and developing economies.

However, emergence of renewable energy sources is predicted to hamper the market growth. For instance, according to a report published by India Brands Equity Foundation, the Ministry of New and Renewable Energy (MNRE) has set a target to increase the renewable energy capacity up to 227 gigawatt (GW) by 2022. The power generation process from renewable sources such as wind, solar, geothermal, and hydropower is an emission-free process. Furthermore, many power plants are becoming linear toward using renewable sources for energy production, owing to volatility in crude oil prices, geopolitical issues, and high investment risks. These factors together are expected to hamper the growth of the electrostatic precipitator market during the forecast period.

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.

๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐†๐ž๐ญ ๐„๐ฑ๐œ๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ž ๐ƒ๐ข๐ฌ๐œ๐จ๐ฎ๐ง๐ญ ๐Ž๐ง ๐“๐ก๐ข๐ฌ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ: https://www.alliedmarketresearch.com/checkout-final/144df83516989dd19fa914df5a90ed50

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.

๐ˆ๐Ÿ ๐ฒ๐จ๐ฎ ๐ก๐š๐ฏ๐ž ๐š๐ง๐ฒ ๐ช๐ฎ๐ž๐ฌ๐ญ๐ข๐จ๐ง๐ฌ, ๐๐ฅ๐ž๐š๐ฌ๐ž ๐Ÿ๐ž๐ž๐ฅ ๐Ÿ๐ซ๐ž๐ž ๐ญ๐จ ๐œ๐จ๐ง๐ญ๐š๐œ๐ญ ๐จ๐ฎ๐ซ ๐š๐ง๐š๐ฅ๐ฒ๐ฌ๐ญ ๐š๐ญ: https://www.alliedmarketresearch.com/connect-to-analyst/747

๐Š๐ž๐ฒ ๐…๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐’๐ญ๐ฎ๐๐ฒ:

The wet electrostatic precipitator product type is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 4.8% from 2021 to 2030.
The metal end use is anticipated to register the highest CAGR of 5.1% during the forecast period.
Asia-Pacific garnered the highest share of 41.3% in 2020, in terms of revenue, growing at a CAGR of 4.8%

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐”๐ฌ:

David Correa
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๐€๐›๐จ๐ฎ๐ญ ๐”๐ฌ:

Allied Market Research is market research, consulting, and advisory firm of Allied Analytics LLP. Founded in 2013, the firm has been instrumental in offering high-quality syndicated and customized market research reports, consulting services, and useful insights to leading market players, startups, investors, and stakeholders. Driven by the aim to eliminate sub-standard data and become a successful partner for organizations, Allied Market Research has been innovating continuously, expanding the product & service portfolio, and implementing the client-first approach since its inception. With the clientele spanning more than 7,000 organizations that also include a majority of Fortune 500 companies, AMR has a proven track record of helping and serving the global clientele and playing a major role in their success.

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