Press release
Flue Gas Desulfurization System Market: Strong Growth Drivers and Emerging Trends Leading to $27.9 Billion Industry by 2029
Flue Gas Desulfurization System Market Share
What Is The Projected Market Size Of The Global Flue Gas Desulfurization System Market And Its Growth Rate?
The global flue gas desulfurization system market has been showing robust growth:
* The market value was $20.61 billion in 2024
* Expected to reach $21.8 billion in 2025 at a CAGR of 5.8%
* The market is likely to grow to $27.9 billion in 2029 at a CAGR of 6.4%
These projections are driven by increased environmental regulations, rising global focus on air quality, expansion of industrial manufacturing, and transition to renewable energy in the forecast period.
What Is Driving The Growth In The Flue Gas Desulfurization System Market?
The increase in the number of coal-fired power plants is one of the significant factors driving the growth of the global flue gas desulfurization system market. As these power plants burn coal to generate electricity, they necessitate the use of flue gas desulfurization systems to reduce the emission of harmful gases. For example, in 2021, coal-fired power generation in the US increased by 16% to reach 898,679 GWh, necessitating more FGD systems, according to the U.S. Energy Information Administration.
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Who Are the Key Players Driving Flue Gas Desulfurization System Market Growth?
Major companies operating in the flue gas desulfurization system market are:
* Mitsubishi Heavy Industries Ltd.
* General Electric Company
* Doosan Lentjes GmbH
* Babcock & Wilcox Enterprises Inc.
* Siemens AG
* FLSmidth & Co. A/S
* Hamon Corporation
* Marsulex Environmental Technologies Corporation
* Thermax Limited
* Ducon Technologies Inc.
* Clyde Bergemann Power Group
* Andritz AG
* Valmet Corporation
* Chiyoda Corporation
* China Energy Engineering Group Co. Ltd.
* Tri-Mer Corporation
* Veolia Water Technologies
* Wärtsilä Corp.
* Wheelabrator Technologies Inc.
* Yokogawa Electric Corporation
* Zhejiang Feida Environmental Science & Technology
* Zhejiang DunAn Artificial Environment
* Zhejiang Shuanghuan Environmental Protection
* Dürr AG
* GEA Group AG
What Are The Key Trends In The Flue Gas Desulfurization System Market?
Key trends in the flue gas desulfurization system market include:
* Integration of digital technologies
* Shift towards dry FGD technologies
* Byproduct utilization
* Collaborations and partnerships
* Technological advancements in FGD systems
What Are The Segments Of The Global Flue Gas Desulfurization System Market?
The global flue gas desulfurization system market is segmented into:
1) Type: Wet FGD Systems, Spray Dry FGD System, Dry And Semi-Dry FGD Systems
2) Installation: Greenfield, Brownfield
3) End-Use: Power Generation, Chemical, Iron And Steel, Metal Processing And Mining, Cement Manufacturing, Paper And Pulp, Other End Uses
Which Region Leads The Flue Gas Desulfurization System Market?
Asia-Pacific held the maximum market share in the flue gas desulfurization system market in 2024. Other regions covered in the report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Flue Gas Desulfurization System Market Global Market Report?
- Market Size Analysis: Analyze the Flue Gas Desulfurization System Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Flue Gas Desulfurization System Market for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Flue Gas Desulfurization System Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Flue Gas Desulfurization System Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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As per Triton's research report, the global market for flue gas desulphurization generated a $21754.15 million revenue in 2022 and is expected to rise with a CAGR of 4.93% over the forecasting years 2023-2030.
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