Global Flue Gas Desulfurization System Market Overview 2024: Size, Drivers, And Trends
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The Business Research Company’s Flue Gas Desulfurization System Global Market Report 2024 offers crucial insights into the flue gas desulfurization system market help businesses analyse and build stronger strategies.
The flue gas desulfurization system market has witnessed substantial growth in recent years, driven by various factors. From $19.59 billion in 2023, the market is set to reach $20.77 billion in 2024, boasting a Compound Annual Growth Rate (CAGR) of 6.1%.
Key drivers for this growth include:
- Stringent environmental regulations
- Rising global focus on air quality
- Increased coal-fired power generation
- Public awareness and environmental activism
- Expansion of industrial manufacturing
Anticipating Future Trends
In the coming years, the flue gas desulfurization system market is poised for strong growth. By 2028, it is expected to expand to $26.25 billion, maintaining a Compound Annual Growth Rate (CAGR) of 6.0%.
Factors driving this growth include:
- Transition to renewable energy sources
- Market expansion for FGD by-products
- Government support for clean energy initiatives
- Increasing use of natural gas
- Focus on circular economy practices
Key Trends in the Forecast Period
Several trends are anticipated to shape the flue gas desulfurization system market in the forecast period:
- Integration of digital technologies
- Shift towards dry FGD technologies
- Byproduct utilization
- Collaborations and partnerships
- Technological advancements in FGD systems
Surge In Coal-Fired Power Plants Drives Demand For FGD Systems
The increasing number of coal-fired power plants is expected to drive demand for flue gas desulfurization systems. Noteworthy points include:
- Coal-fired power plants require FGD systems to reduce harmful gas emissions
- Surge in coal-fired power generation in regions like the US
- Growing necessity for FGD systems to comply with environmental regulations
- Major companies like Mitsubishi Heavy Industries Ltd., General Electric Company, and Siemens AG leading the market
GE’s Collaboration With Apollo International For Advanced WFGD System Design
Collaboration emerges as a key trend in the flue gas desulfurization system market. Notable instances include:
- General Electric (GE) partnering with Apollo International Limited for designing a Wet Flue Gas Desulfurization (WFGD) system
- The collaboration aims to clean 7.4 million cubic meters of flue gas per hour and eliminate 51,000 tons of SO2 annually
- The WFGD system is crucial for reducing sulfur dioxide emissions in power generation
Market Segmentation and Regional Dominance
The flue gas desulfurization system market is segmented based on:
- Type: Wet FGD Systems, Spray Dry FGD System, Dry and Semi-dry FGD Systems
- Installation: Greenfield, Brownfield
- End-Use: Power Generation, Chemical, Iron and Steel, Metal Processing and Mining, Cement Manufacturing, Paper and Pulp, Other End Uses
- Asia-Pacific emerged as the largest region in the flue gas desulfurization system market share in 2023, highlighting its dominance in the market.
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The Flue Gas Desulfurization System Global Market Report 2024 provides a comprehensive outlook of the flue gas desulfurization system market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The flue gas desulfurization system market forecast offers a thorough analysis on flue gas desulfurization system market size, flue gas desulfurization system market share, prominent players and their strategies.
The Table Of Content For The Flue Gas Desulfurization System Market Include:
1. Flue Gas Desulfurization System Market Executive Summary
2. Flue Gas Desulfurization System Market Segments
3. Flue Gas Desulfurization System Market Size And Flue Gas Desulfurization System Market Growth Rate
4. Key Flue Gas Desulfurization System Market Trends
5. Major Flue Gas Desulfurization System Market Drivers
……
25. Key Mergers And Acquisitions In The Flue Gas Desulfurization System Market
26. Top Flue Gas Desulfurization System Companies
27. Flue Gas Desulfurization System Market Opportunities And Strategies
28. Flue Gas Desulfurization System Market, Conclusions And Recommendations
29. Appendix
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