Flue Gas Desulfurization System Market worth $24.9 billion by 2026

 

The report "Flue Gas Desulfurization System Market by Type (Wet, Dry & Semi-Dry), End-Use Industry (Power Generation, Chemical, Iron & Steel, Cement Manufacturing), Installation (Greenfield and Brownfield) and Region - Global Forecast to 2026", is projected to grow from USD 19.3 billion in 2021 to USD 24.9 billion by 2026, at a CAGR of 5.2% from 2021 to 2026. Market growth is driven by the enforcement of federal laws and regulations that mandate SOx emitting industries to install air quality control equipment.

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Key players operating in the FGD systems market include Mitsubishi Heavy Industries Group (Japan), General Electric Company (US), Andritz AG (Austria), Doosan Lentjes GmbH (Germany), Babcock & Wilcox Enterprises Inc. (US), Rafako S.A. (Poland), FLSmidth & Co. (Denmark), Hamon Group (Belgium), Marsulex Environmental Technologies (US), and Thermax Group (India), have adopted agreements, expansions, innovative technology research, and new product development as their key growth strategies. The other noteworthy players in this market are Ducon Technologies Inc. (US), Chiyoda Corporation (Japan), China Boqi Environmental (Holding) Co. Ltd. (China), LAB S.A. (France), Valmet Corporation (Finland), Kawasaki Heavy Industries Group (Japan), Macrotek Inc. (Canada), China Everbright International Ltd. (China), AECOM (US), Burns & McDonnell (US), Rudis Trbovlje (Slovenia), Steinmuller Engineering GmbH (Germany), Shandong Baolan Environmental Protection Engineering Co. Ltd. (China), IDE Technologies (Israel), and KC Cottrell (South Korea). These players have adopted strategies such as expansions, agreements, and new product development to enhance their position in the market.

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The wet FGD systems segment is projected to lead the market during the forecast period

Based on type, the wet FGD systems segment is estimated to lead the market in 2020 as these are the most used in industrial plants owing to their high removal efficiency (> 95%). As coal-fired power plants are the chief contributor of flue gases, most countries have strict emission standards for power generation units, mandating them to install FGD systems with high removal efficiency. Thus, wet FGD systems remain in high demand to meet the environmental standards across the globe.

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Flue Gas Desulfurization System Market by Type (Wet, Dry & Semi-Dry), End-Use Industry (Power Generation, Chemical, Iron & Steel, Cement Manufacturing), Installation (Greenfield and Brownfield) and Region - Global Forecast to 2026

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