Flue Gas Desulfurization System Market - Major Revenue Gain is Predicted by 2032
The world flue gas desulfurization systems market is expected to bring in US$ 34,881.3 million by 2032 while expanding at a CAGR of 5.1%. The market is expected to be worth US$ 21,172.5 million in 2022. between 2016 and 2021, the market recorded a growth rate of 4.10%.
Future technologies to reduce pollutant emissions will be crucial to meet the electricity demand and dependency reduce . on fossil fuels. In recent years, REA systems and services have experienced significant growth worldwide and this trend is expected to continue in the years to come.
International awareness of environmental concerns has been increasing in recent years resulted in the stringent environmental regulations regarding sulfur dioxide (SO2) emission in the many countries. Flue Gas Desulfurization System (FGDS) is a set of technologies which works to remove sulfur dioxide (SO2) from exhausted gases from the emission of the sulfur dioxide emitting processes.
Flue Gas Desulfurization System Market – Key Players
Some of the key players in the FGDS market are as follows:
Babcock & Wilcox Enterprises, Inc.
Marsulex Environmental Technologies
FLSmidth & Co. A/S
Thermax Limited
Siemens AG
Clyde Bergemann Power Group
Burns & Mcdonnell
Alstom SA
Mitsubishi Electric Corporation, Ltd.
Hamon Corporation
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Flue Gas Desulfurization System Market – Drivers and Restraints
The global FGDS market is expected to show a rapid market growth over the forecast period. The sulfur dioxide is responsible for the acid rain formation, the stringent government regulations to protect the environment have been implemented in many countries to limit and control the emission of the flue gas which is the major factor driving the global FGDS market.
Flue Gas Desulfurization System Market – Segmentation
On the basis of type, theglobal FGDS market is segmented as follows:
Wet flue gas desulfurizer
Dry flue gas desulfurizer
Semi dry desulfurizer
On the basis of applications, theglobal FGDS market is segmented as follows:
Power generation
Chemical
Iron and steel
Cement manufacturing
Others
Flue Gas Desulfurization System Market – Region Wise Outlook
The global FGDS market is segmented into the seven regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA).
The North America region has contributed the leading share to the global FDGS market in terms of revenue due to higher demand of the FGDS from the power generation industry and chemical, iron industry. The Western Europe has also contributed the significant shares to the global FGDS market followed by North America.
APEJ region is the most lucrative market, followed by the Eastern Europe and expected to register the descent growth to the global FGDS market due to the rising industrialization, manufacturing and processing units of the industries such as power generation, coal, steel and cement.
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