Press release
Flue Gas Desulfurization Systems Market to Reach USD 29.31 Bn by 2030, Growing at 5.45% CAGR
Flue Gas Desulfurization System Market
The global Flue Gas Desulfurization (FGD) System market is poised for significant growth, with a projected compound annual growth rate (CAGR) of 5.45%, reaching an estimated market size of USD 29.31 billion by 2030. This growth is driven by stringent environmental regulations, particularly targeting sulfur dioxide emissions from fossil-fuel power plants.
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► Competitive Landscape and Regional Demand
In 2023, the market size was valued at USD 20.21 billion, reflecting a robust demand for air quality control systems. Key players such as Mitsubishi Heavy Industries, General Electric, and Siemens lead the market with innovative solutions in wet and dry FGD systems, catering to industries like power generation, cement manufacturing, and iron & steel.
► Regional Insights:
United States: FGD System Growth Opportunities:
The U.S. continues to witness strong demand for FGD systems, particularly in power generation, due to its large fleet of coal-fired plants. The market's growth is further supported by government policies targeting sulfur dioxide emissions and air quality standards. Companies like General Electric and Babcock & Wilcox are ramping up their innovations in FGD technologies to meet these demands.
Asia-Pacific: FGD System Consolidation and Expansion:
Asia-Pacific is forecasted to grow at the highest CAGR, driven by countries like China, India, and Japan. The demand for FGD systems is escalating due to growing power consumption and stringent pollution regulations. Mitsubishi Heavy Industries and Doosan Lentjes are making significant strides in this market through mergers and acquisitions, ensuring market consolidation and expanding their customer base.
Middle East and Africa: FGD System Market Trends:
In the Middle East and Africa, the growth of industrial sectors like cement and power generation is boosting demand for FGD systems. The region's key players, including Hamon Corporation and Thermax, are increasingly focusing on market expansions to provide innovative solutions tailored to the region's unique industrial requirements.
Europe: FGD System Updation and Technological Advancements:
Europe is witnessing technological advancements in FGD systems due to rising environmental concerns. Countries like Germany, France, and the UK are leading in adopting cleaner technologies, with companies like Siemens and RAFAKO leading the charge. European regulations require continuous improvements, providing a favorable environment for system upgrades and the latest technologies.
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► Market Segmentation: In-Depth Analysis:
◘ by Installation
Greenfield
Brownfield
◘ by Type
Wet flue gas desulfurization System
Dry & Semi-dry flue gas desulfurization System
The market for flue gas desulfurization systems has been divided into several end-user segments, including cement production, iron and steel, chemical, and power generation. One of the biggest market shares for flue gas desulfurization systems is anticipated to belong to the power generating industry. Because coal contains a lot of sulfur, coal-fired power stations are the main source of sulfur pollution. Consequently, the market for flue gas desulfurization systems' power generating segment is expanding due to the growing need for electricity.
◘ by End User Type
Power Generation
Chemical
Iron & Steel
Cement Manufacturing
Others
For deeper market insights, peruse the summary of the research report:https://www.maximizemarketresearch.com/market-report/flue-gas-desulfurization-fgd-system-market/2286/
► Learn about the top players driving innovation in the Market :
Mitsubishi Heavy Industries (Japan)
Doosan Lentjes (Germany)
General Electric (US)
Babcock & Wilcox (US)
Siemens (Germany)
RAFAKO (Poland)
FLSmidth (Denmark)
Clyde Bergemann Power Group (UK)
Hamon Corporation (US)
Marsulex Environmental Technologies (US)
Thermax (India)
ANDRITZ (Austria)
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