The Flue Gas Treatment Systems Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Flue Gas Treatment Systems Global Market Report 2024, The flue gas treatment systems market size has grown strongly in recent years. It will grow from $68.01 billion in 2023 to $72.04 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to stringent emission regulations, growing environmental awareness, coal combustion challenges, health concerns, rise in gas-fired power plants, acid rain mitigation, global industrialization trends..
The flue gas treatment systems market size is expected to see strong growth in the next few years. It will grow to $89.78 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to waste-to-energy plants, carbon capture and storage (ccs), increasing natural gas usage, focus on particulate matter control, renewable energy integration.. Major trends in the forecast period include adoption of air quality control technologies, technological advancements, focus on circular economy, increase in scrubber installations, digitalization and remote monitoring, global expansion of fgd systems, integration of green solutions..
The increased construction and reconstruction activities are expected to propel the flue gas treatment systems market growth going forward. The construction and reconstruction activities involve clearing land, grading, digging, filling, and any other work related to the building, assembling, altering, installing, or equipping of structures, roadways, or their ancillaries. A flue gas treatment system is helpful in construction activities by removing cement that emits about one tonne of carbon dioxide into the environment. For instance, in 2022, according to a report published by the United States Census Bureau, a US-based government agency, total construction spending in June 2022 is estimated at $1,762.3 billion, up 1.5% from $1,628.0 billion in June 2021. Further, in 2022, construction spending was $848.2 billion in the first six months 2022, up 10.7% from $766.0 billion for the same period in 2021. Therefore, the increased construction and reconstruction activities are driving the growth of the flue gas treatment systems market.
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The flue gas treatment systems market covered in this report is segmented –
1) By Pollutant Control System: Particulate Control, Flue Gas Desulfurization, DeNOx, Mercury Control, Other Pollutant Control System (Volatile Organic Compounds, Dioxins, and Furans)
2) By Business Type: System, Service, Other Business Type
3) By End-use Industry: Power, Cement, Iron & Steel, Non-Ferrous Metal, Chemical & Petrochemical, Other End-use Industry (Glass, Pharmaceuticals, And Pulp & Paper)
The technological breakthrough is a key trend gaining popularity in the flue gas treatment systems market. Major companies operating in the flue gas treatment systems market are focused on developing new technological solutions to strengthen their position. For instance, in November 2021, Wärtsilä Corporation, a Finland-based company engaged in the manufacturing and services of power sources and other equipment, launched a new exhaust gas treatment system from the IQ Series. The most recent development in maritime exhaust gas treatment technology is the IQ Series. With its cutting-edge design, the IQ Series scrubber can produce the same exhaust gas cleaning results while taking up less space and has little influence on a vessel’s cargo carrying capacity, and as a result, its profitability. It is 25% smaller, 30% lighter, and 35% smaller in volume. This new Wärtsilä scrubber is a full-lifecycle technology solution with several technological advancements that make it an obvious and leading compliance choice for curious owners and operators.
The flue gas treatment systems market report table of contents includes:
- Executive Summary
- Flue Gas Treatment Systems Market Characteristics
- Flue Gas Treatment Systems Market Trends And Strategies
- Flue Gas Treatment Systems Market – Macro Economic Scenario
- Global Flue Gas Treatment Systems Market Size and Growth
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- Global Flue Gas Treatment Systems Market Competitive Benchmarking
- Global Flue Gas Treatment Systems Market Competitive Dashboard
- Key Mergers And Acquisitions In The Flue Gas Treatment Systems Market
- Flue Gas Treatment Systems Market Future Outlook and Potential Analysis
- Appendix
Top 5 Major Key Players Are:
- AMEC Foster Wheeler PLC
- Babcock & Wilcox Enterprises Inc
- Clyde Bergemann Power Group
- FLSmidth & Company A/S
- General Electric Company
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