Global Flue Gas Desulphurization Market – Overview
Flue gas desulfurization is mainly used for extracting hazardous sulfur dioxide emissions from the flue gas. The flue gas desulfurization systems assist in cutting down the levels of SO2 and other greenhouse gas emissions. Dry Flue gas desulfurization and wet Flue gas desulfurization have emerged to be the key technologies in the global market. Generally, wet FGD systems are priced high in comparison to the dry FGD systems. They have lower operating costs and lower maintenance expenses. Wet FGD systems capture the majority of the market and expected to maintain its dominance in coming years.
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Global Flue Gas Desulphurization Market – Competitive Landscape
The flue gas desulphurization market is mainly concentrated, with few leading players holding majority of the market share. Some of the leading players such as Alstom, Mitsubishi Heavy Industries (MHI), Babcock and Wilcox have sustained their positions by expanding globally and providing turnkey integrated solutions to their consumers.
The companies in the global market are expected to adopt highly aggressive growth strategies such as mergers, acquisitions, joint ventures, and strategic partnerships in order to stay ahead of the competitive curve.
Global Flue Gas Desulphurization Market – Drivers and Restraints
One of the key driving factors for the growth of the global Flue gas desulfurization market has been the issuance of stricter environmental regulations. In addition to this, increasing energy demand across the globe has also created a solid demand for Flue gas desulfurization. All such factors are thus playing important roles in driving the growth of the global Flue gas desulfurization market in the coming years of the forecast period.
However, there are couple of factors that might impede the growth of the market in the near future. These factors will slow down the market growth and stop it from reaching its full potential. One of the key restraining factors for the market growth has been the high installation costs of these Flue gas desulfurization. Another important restraining factor is the higher waste disposable expense associated with these systems. However, increasing demand from the emerging economies such as India and Japan is projected to present lucrative growth opportunities in the coming years of the forecast period.
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Global Flue Gas Desulphurization Market – Geographical Outlook
There are five key regional segments of the global flue gas desulphurization market. These regions are North America, Latin America, Middle East and Africa, Asia Pacific, and Europe. Of these, Asia Pacific is projected to show a stable growth over the course forecast period. Chinese FGD market is expected to grow due to rising thermal power generation that is likely to fuel the FGD systems demand in Asia Pacific region. The market comprises of key application segments including new systems and replacement and reagents market. With the increasing number of FGD systems, the demand for reagents to run FGD systems has increased. The market for FGD equipment and components has also increased significantly for replacing old FGD components.
Previous research showed that India and China presented incredible opportunity. However, now the focus is now mainly shifting away from China. Production units are now looking at moving their bases from China to other nations such as Japan and India as the world works towards emerging from the COVID-19 pandemic. As coal will likely to remain the main as well as cheap source of energy in emerging economies, the rise of manufacturing will be Asia Pacific’s way ahead in the global economy. This in turn will keep the regional ahead as the