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Gas Cleaning Technologies Market Size, Product Trends, Key Drivers, Share Analysis And Forecast To 2033
Gas Cleaning Technologies Market
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According to The Business Research Company's, The gas cleaning technologies market size has grown strongly in recent years. It will grow from $30.74 billion in 2023 to $32.54 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to growing awareness of the health impacts of air pollution, a rise in the number of energy and power plants, increasing air pollution control technologies, rising air pollution, and increasing population density.
The gas cleaning technologies market size is expected to see strong growth in the next few years. It will grow to $41.02 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to rising adoption of wet scrubbers, an increase in the demand for coal-fired power worldwide, growing preference for these cleaner alternatives, rising oil exploration activities, and changing climate change. Major trends in the forecast period include integration with digital technologies, technological advancements, increased use of bio-based and green technologies, enhanced focus on specific pollutants, and modular and scalable solutions.
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Market Drivers and Trends:
The rising oil and gas production activities are expected to propel the growth of the gas cleaning technologies market going forward. Oil and gas production is growing due to increasing global energy demand and efforts to enhance energy security and meet economic growth needs. Gas cleaning technologies in oil and gas production are used to remove impurities, reduce emissions, and ensure compliance with environmental regulations. For instance, in September 2024, according to HM Revenue and Customs (HMRC), a UK-based agency, total government revenues from UK oil and gas production reached £9 billion in the financial year 2022 to 2023, up from £1.4 billion in 2021 to 2022, marking an increase of £7.6 billion. Therefore, rising oil and gas production activities are driving the growth of the gas cleaning technologies market.
Major companies operating in the gas cleaning technologies market are focusing on developing innovative solutions, such as digital tools, to provide flexible and efficient gas cleaning solutions that reduce energy and water consumption. A digital tool in gas cleaning plants refers to software or technology that monitors, controls, and optimizes the gas cleaning processes, enhancing operational efficiency and ensuring regulatory compliance. For instance, in December 2023, Metso Corporation, a Finland-based industrial machinery company, launched the High-Efficiency Scrubber (HES) Optimizer. This digital tool enhances energy efficiency in gas cleaning plants by optimizing pressure drop in Venturi scrubbers using real-time data and internal calculations. It ensures effective impurity removal even with changing gas volumes and dust loads, helping to maintain environmental standards.
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Major Key Players of the Market:
Siemens AG, General Electric Company, Mitsubishi Heavy Industries, Yara Marine Technologies AS, Johnson Matthey, Ecolab, ANDRITZ Group, Fuji Electric Co. Ltd., Wärtsilä Corporation, GEA Group AG, ALFA LAVAL AB, Dürr AG, FLSmidth, Evoqua Water Technologies LLC, Babcock & Wilcox, Nederman Holding AB, CECO Environmental, Tri-Mer Corporation, Verantis Environmental Solutions Group, KCH Services Inc., Hitachi Zosen Inova, Elessent Clean Technologies Inc., John Cockerill, Ducon Environmental Systems Inc.
Gas Cleaning Technologies Market 2024 Key Insights:
• The gas cleaning technologies market size is expected to see strong growth in the next few years. It will grow to $41.02 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%.
• Surge In Oil And Gas Production Fuels Rapid Growth In Gas Cleaning Technologies Market
• Introduction To Digital Tools In Gas Cleaning Technologies
• Asia-Pacific was the largest region in the gas cleaning technologies market in 2023
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