Flue Gas Desulfurization System Market (Type - Wet, and Dry & Semi-dry; End-use Industry - Power Generation, Chemical, Iron & Steel, and Cement Manufacturing): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

A recent report published by Infinium Global Research on the flue gas desulfurization system market provides an in-depth analysis of segments and sub-segments in the global as well as regional flue gas desulfurization system market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional flue gas desulfurization system market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global flue gas desulfurization system market. According to the report, the global flue gas desulfurization system market is projected to grow at a CAGR of 5% over the forecast period of 2021-2027. The market grew from around USD 1.2 billion in 2021 to over USD 26 billion in 2027.

Market Insight

Flue-gas desulfurization (FGD) is a set of technologies that is been used to remove sulfur dioxide (SO.2.) from exhaust flue gases of fossil-fuel power plants, and from the emissions of other sulfur oxide emitting processes such as waste burning. Flue gas desulfurization systems (FGD) are devices that are capable of sulfur removal efficiencies between 50% to 98%. The highest removal is achieved by wet scrubbers and the lowest by dry scrubbers. In many plants, Flue Gas Desulfurization (FGD) Process is necessary to remove sulfur from the flue gases after the combustion process to meet environmental requirements. FGD mainly employs two methods of filtering the emissions (dry or wet scrubbing) for coal-burning plants to be in compliance with regulations mandated by the EPA’s Effluent Limitation Guidelines (ELG). FGD processes vary depending upon the amount of SO2 involved in it, the solution being used to absorb the SO2, and the particular equipment used in the absorption tower.  With the COVID-19 pandemic, the levels of pollution seen across the globe had decreased due to various regulations imposed by the governments, businesses, and various industrial sectors being shut down in order to stop the spread of infectious diseases people were also restricted from moving out of their houses which in turn affected economies and industries in various countries. According to the International Energy Agency, global energy use in 2020 had declined by about 5%, the biggest drop experienced in the past 70 years. This is expected to burden the revenue path of the global Flue Gas Desulfurization market over the forecasting years. Due to boundary closure supply chain activities got disrupted due to which postponement and cancellation of the announced projects affected its market growth.

The stringent laws for maintaining the air quality standards imposed by the governments to drive the market growth in the forecasting period. The high operating costs and initial investments required by the systems are expected to restrain the flue gas desulfurization systems market growth in the forecasting years. Moreover, the decreasing number of coal power plants across the globe might affect the market growth of the flue gas desulfurization systems market during the forecast period. The Increasing number of coal-fired power plants in Asia Pacific countries will provide an opportunity for its market growth. The highest increase in the usage of coal for power generation in countries such as India, and China, while consumption patterns decreased in North America and Europe region over the past few years.

Among the regions, Asia Pacific accounted for the largest share in the global Flue Gas Desulfurization System Market. Owing to demand from the power generation industry as a result of the increased regulations and power production in the region will propel its market growth. The cement and metal smelting industries, as well as the chemical sector, are growing in the Asia Pacific creating opportunities for market growth in this region. However, the Asia Pacific region is anticipated to grow at the highest rate in the global Flue Gas Desulfurization System Market over the forecast period. Factors driving the market growth include increasing demand from the power & energy sector and stringent rules and regulations imposed by the government. However, the high cost of reagents and safety concerns related to the FGD System are likely to put a negative impact on the market growth in the forecasting years.

Segment Covered

The report on the global flue gas desulfurization system market covers segments such as type, and end-use industry. On the basis of type, the sub-markets include wet, and dry & semi-dry. On the basis of end-use industry, the sub-markets include power generation, chemical, iron & steel, and cement manufacturing.

Companies Profiled:

The report provides profiles of the companies in the market such as Mitsubishi Heavy Industries Ltd, General Electric Company, Doosan Lentjes, Babcock & Wilcox Enterprises Inc, Rafako S.A, Thermax Ltd, Koch-Glitsch, KraftPowercon, Ducon Technologies Inc, and Burns & McDonnell.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the flue gas desulfurization system market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.