Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSJanuary 27, 2021: Hamon to design and deliver one of the biggest sea water Flue Gas Desulfurization systems in Tanjung Jati, Indonesia.
July 18, 2019: Thermax Limited to fulfill the order of two Flue Gas Desulphurization (FGD) systems for Indian Government Company. The order amounted to over INR 147 crore, which is over USD 19.82 million.
The global electrostatic precipitator market is estimated to grow at a CAGR of ~4% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing level of air pollution across the globe, along increasing industrial activities emitting toxic pollutants in the air. According to the data by the World Health Organization, 91% of the global population lives in areas exceeding WHO guideline limits of air pollutants. According to the data by the World Bank, the health damage from ambient air pollution costs over $5.7 trillion globally, equivalent to 4.8% of global GDP, as of 2020.
Electrostatic precipitator uses electricity to charge the particles present in smokes or fumes, and collects these particles on anode or cathode plates. This way, toxic particles present in industrial smoke are not emitted in the atmosphere, in turn, reducing the level of ambient pollution. According to the data by the WHO, over 7 million deaths are caused by air pollution annually. Ambient air pollution causes approximately 4.2 million deaths worldwide.
Growing concerns amongst authorities, regarding the increasing air pollution level, is estimated to increase the demand for electrostatic precipitator. The growing adoption of electrostatic precipitator amongst various end-users, including thermal power plants, cement factories, and chemical industries, is estimated to boost the market growth. Moreover, rising government initiatives to reduce pollution is estimated to boost the market growth.
In the past few decades, the level of pollution has significantly decreased, owing to the rising awareness amongst the public. According to the data by the Environment Protection Agency (EPA), the level of carbon monoxide had decreased from -81 percentage points during the period 1980 vs 2020 to -12 percentage points during the period 2010 vs 2020. CLICK TO DOWNLOAD SAMPLE REPORT
The market is segmented by application into power & electricity, metals, chemicals, and others out of which, the power & electricity segment is anticipated to hold the notable share in the global electrostatic precipitator market over the forecast period as electricity generation creates large amount of smoke and other greenhouse gases. The growing adoption of electrostatic precipitator in thermal power plants, is estimated to fuel the segment growth.
In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.
On the basis of geographical analysis, the global electrostatic precipitator market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of growing industrial pollution, backed by industrial development in countries, such as, China, India, and others. According to the data by the WHO, around one third of the total deaths caused by air pollution, i.e., 2.2 million deaths, occur in the Asia Pacific region. Moreover, growing government initiatives to curb air pollution in the region, is estimated to boost the market growth.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the high pollution level, backed by rapid industrial advancement in the region. As per the data by the US Environment Protection Agency, about 68 million tons of polluted air was emitted into the atmosphere in the United States, in 2020.
The growing awareness amongst the public in the region, is estimated to boost the market growth.
The global electrostatic precipitator market is further classified on the basis of region as follows:
Our in-depth analysis of the global electrostatic precipitator market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The growing level of industrial air pollution is primarily estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2022 – 2030.
High cost and competition from cheaper alternatives are estimated to hamper the market growth.
The market in the North America region is estimated to gain the largest market share over the forecast period owing to the growing pollution level in the region.
The major players in the market are DUCON, S.A. Hamon, Trion Solutions, Inc., Babcock & Wilcox Enterprises Inc., Amec Foster Wheeler, Thermax Limited, Siemens AG, Mitsubishi Power, Ltd., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, conditioning agents, and by region.
The power & electricity segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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