The flue gas desulfurization (FGD) system market is projected to grow from USD 16.00 Billion in 2017 to USD 21.00 Billion by 2022 at a CAGR of 5.6% between 2017 and 2022. The FGD system market has been witnessing consistent growth across the globe, owing to the increasing concerns worldwide regarding environmental pollution, growing prevalence of airborne diseases, and implementing of various environmental laws and regulations in different countries, worldwide. The rise in demand for FGD systems from the power generation, chemical, iron & steel, and cement manufacturing industries is expected to drive the growth of the FGD system market across the globe. The stringent implementation of various environmental regulations to control the excessive industrial sulfur dioxide emissions is further expected to drive the growth of the FGD system market during the forecast period.
Based on type, the FGD system market has been segmented into wet FGD system and dry & semi-dry FGD system. The wet FGD system segment is expected to lead the FGD system market during the forecast period. The growth of the wet FGD system segment of the FGD system market can be attributed to the increased adoption of wet FGD systems in various industries due to their high efficiency to remove sulfur dioxide (SO2) from the flue gas. Moreover, the formulation and stringent implementation of various emission standards set by a number of federal governments, increased demand for electricity, and rise in the number of coal-fired power plants in emerging economies are also fueling the growth of the wet FGD system segment of the FGD system market across the globe. Moreover, the growth of wet FGD system segment of the FGD system market can be attributed to the early commercial deployment of wet FGD systems, which took place in 1970 and their high efficiency in terms of removal of sulfur dioxide (SO2). Moreover, the by-product of typical wet FGD systems, which use limestone as a reagent, is gypsum. Gypsum is further used by cement manufacturing and fertilizers industries.
Based on end user, the power generation segment is estimated to account for the largest share of the FGD system market in 2017. The coal-fired power plants are the major source of sulfur pollutants as they use high sulfur content coal for power generation. Therefore, the increased demand for power is fueling the growth of the power generation end user segment of the FGD system market across the globe.
Breakdown of Primaries
In the process of determining and verifying the market size gathered through secondary research for different segments and subsegments of the FGD system market, extensive primary interviews have been conducted with the key industry experts. The break-up of profiles of primary participants has been given below.
Break-Up of Profiles of Primary Participants:
By Company Type: Tier 1 - 50%, Tier 2 - 37%, and Tier 3 - 13%
By Designation: C Level - 48%, Director Level - 31%, and Others - 21%
By Region:North America - 33%, Europe - 28%, Asia Pacific - 21%, Middle East & Africa - 10%, and South America - 8%
This report covers the following key aspects:
What would be the size of the FGD system market by 2022 and what would be its growth rate from 2017 to 2022?
What are the key market trends in the FGD system market?
What are the factors expected to drive the growth of the FGD system market?
What are the barriers that impact the growth of the FGD system market?
Who are the key players in the FGD system market?
The report on the FGD system market covers key regions, namely, Asia Pacific, North America, Europe, the Middle East & Africa, and South America including their key countries.
About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.