Press release
Wet Flue Gas Desulfurization System Industry to See Robust Expansion, Valued at $23.35 Billion by 2029
Wet Flue Gas Desulfurization System
What Is the Projected CAGR for the Wet Flue Gas Desulfurization System Market from 2024 to 2025?
The market for wet flue gas desulfurization systems has seen robust growth in the past few years. The market, valued at $17.47 billion in 2024, is projected to increase to $18.38 billion in 2025, showing a compound annual growth rate (CAGR) of 5.2%. Factors contributing to this growth during the historic period include strict environmental laws, an upsurge in coal-fired power plants, government incentives for pollution control, high sulfur content in coal, and escalating health concerns.
What are the Expected Market Size and CAGR for Wet Flue Gas Desulfurization System by 2029?
Expectations indicate a substantial increase in the wet flue gas desulfurization system market in the coming years, potentially reaching $23.35 billion by 2029 with a compound annual growth rate (CAGR) of 6.2%. The projected growth during this period is partly due to the shift towards renewable energy, escalating installation and maintenance costs, regulatory relaxations in various areas, augmented use of natural gas, and the need for compact yet efficient systems. During the forecasted period, primary trends include coupling with carbon capture systems, emphasis on energy-efficient systems, formulation of hybrid systems, breakthroughs in sorbent materials, and the employment of digital monitoring schemes.
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Which Factors Are Driving the Global Wet Flue Gas Desulfurization System Market Expansion?
The surge in the need for more sustainable energy options is anticipated to fuel the expansion of the wet flue gas desulfurization system market in the future. Numerous factors contribute to the rise of such energy solutions, including enhanced environmental regulations, developments in renewable energy technology, growing consumer demand for environmentally-friendly practices, and the pressing need to curtail greenhouse gas emissions. Wet flue gas desulfurization systems play a crucial role in sustainable energy solutions by effectively eliminating sulfur dioxide from emissions, mitigating air pollution, and aiding in adhering to environmental norms. For instance, in July 2023, the International Energy Agency (IEA), an autonomous intergovernmental organization based in France, reported that power generated from solar photovoltaic systems reached a record of 270 TWh in 2022, an increase of 26% from 2021. Consequently, the mounting demand for sustainable energy solutions is spurring the growth of the wet flue gas desulfurization system market.
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Which Segment Currently Holds the Largest Share of the Wet Flue Gas Desulfurization System Market?
The wet flue gas desulfurization system market covered in this report is segmented -
1) By Type: Spray Tower, Jet Bubbling, Tray Tower
2) By Installation: Greenfield, Brownfield
3) By Application: Power Plants, Chemical And Petrochemical, Cement, Metal Processing And Mining, Manufacturing, Other Applications
Subsegments:
1) By Spray Tower: Single-Stage Spray Tower, Multi-Stage Spray Tower
2) By Jet Bubbling: Venturi Jet Bubbling, Non-Venturi Jet Bubbling
3) By Tray Tower: Counter-Flow Tray Tower, Co-Current Tray Tower
Which Major Trends Are Shaping the Future of the Wet Flue Gas Desulfurization System Industry?
Top-tier businesses operating within the wet flue gas desulfurization system market are utilizing a strategic alliance model to promote innovative integration and broadening their market influence. A strategic alliance is essentially a cooperative enterprise involving several organizations, uniting their resources, specialisms, and collective efforts to accomplish common aims or targets. For instance, in January 2023, the U.S-based energy tech supplier, Babcock & Wilcox (B&W), progressed its environmental solutions portfolio by launching a strategic alliance with Hamon Research-Cottrell, an Indian company with expertise in air pollution control methodologies. This partnership strengthened B&W's flue gas desulfurization (FGD) functionality, enabling them to provide more robust solutions to reduce sulfur dioxide and other emissions. With access to Hamon Research-Cottrell's specific skills and technology-including wet and dry electrostatic precipitators, fabric filters, and various scrubbers-B&W improved their capacity to aid more environmentally friendly energy production across sectors that require advanced emissions control solutions.
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Which Key Players Dominate the Wet Flue Gas Desulfurization System Industry Globally?
Major companies operating in the wet flue gas desulfurization system market are General Electric Company, Alstom S.A., AECOM, Kawasaki Heavy Industries Ltd., Burns & McDonnell, Andritz Group, Valmet Corporation, FLSmidth And Co., Chiyoda Corporation, Mitsubishi Hitachi Power Systems Ltd, Thermax Ltd., Babcock & Wilcox Enterprises Inc., KC Cottrell, Hamon Group, Rafako S.A., Ducon Technologies Inc., Doosan Lentjes GmbH, Steinmuller Engineering GmbH, Marsulex Environmental Technologies, BAOLAN EP INC., Rudis Trbovlje, Macrotek Inc.
What Are the Fastest-Growing Regions in the Wet Flue Gas Desulfurization System Market?
Asia-Pacific was the largest region in the wet flue gas desulfurization system market in 2024. The regions covered in the wet flue gas desulfurization system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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