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 NEWSThe global flue-gas desulfurization market is anticipated to grow with a CAGR of ~6% during the forecast period, i.e., 2022-2030. The market is anticipated to grow on account of the strict government regulations in order to control air pollution along with the rapid growth in the industrial sector. Further, the installation of air quality control equipment in plants of various sulphur dioxide emitting industries is fostering the market growth. The growing advancements in the features of flue-gas desulfurization systems in order to increase efficiency are estimated to generate huge demand for the product. In addition, the rising demand for FGDs from coal fired power plants on the back of presence of high sulphur content in the power plants resulting into the emission of major sulphur pollutants is accelerating the growth of the market. Moreover, increasing number of coal powered plants and the rising generation of electricity from coal are some of the additional factors anticipated to drive the market growth during the forecast period. According to the statistics by the United States Energy Information Administration (EIA), electricity generation from fossil fuels grew from 13620.69 Billion kWh in 2010 to 16148.37 Billion kWh in 2018.
The market is segmented by product type into dry & semi dry flue-gas desulfurization system and wet flue-gas desulfurization system, out of which, the wet flue-gas desulfurization system segment is estimated to account for the major share in the market throughout the forecast period on the back of its high efficiency in removing sulphur dioxide and growing demand for wet flue-gas desulfurization systems from coal fired power plants. Moreover, growing demand for gypsum, which is a by-product of wet flue-gas desulfurization systems, from the cement and fertilizer industries, is also anticipated to drive the growth of the segment during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
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.
Global Flue-Gas Desulfurization Market Regional Synopsis
Regionally, the global flue-gas desulfurization market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to witness the largest market share over the forecast period on the back of presence of numerous coal-fired power plants in the region, along with the rising pollution levels from industries, and the rapid growth in industrial sectors in emerging countries, such as India and China. Further, stringent emission standards and rising investments for the expansion of coal-fired generation power plants are anticipated to propel the growth of the market. Alternatively, the market in the North America region is estimated to witness notable growth rate during the forecast period primarily owing to the rising demand for electricity in the region and for the need to regulate the emissions from the existing coal-fired power plants. According to the statistics by the U.S. Energy Information Administration (EIA), net generation of electricity from coal in the United States in the year 2020 was recorded to 773,805 Thousand Megawatthours.
The global flue-gas desulfurization market is further classified on the basis of region as follows:
Our in-depth analysis of the global flue-gas desulfurization market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The rising need to curb sulfur dioxide emissions, along with the increasing number of power plants that are fired from fossil fuels, are some of the major factors anticipated to drive the market growth.
The market is anticipated to attain CAGR of ~6% during the forecast period, i.e., 2022-2030.
The high cost of FGD systems is one of the major factors estimated to hamper the market growth.
The market in the North America is anticipated to display significant business opportunities throughout the forecast period.
The major players in the market are ANDRITZ Group, S.A. HAMON, Chiyoda Corporation, KC Cottrell, Macrotek Inc., Ducon Environmental Systems, Kawasaki Heavy Industries, Ltd., Valmet Corporation, IDE Technologies, 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 product type, installation type, application type, end-user industries, and by region.
The wet flue-gas desulfurization system segment is anticipated to hold the largest market share throughout the forecast period and is estimated to display significant growth opportunities.
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