PUBLISHER: The Business Research Company | PRODUCT CODE: 1425475
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425475
Flue Gas Treatment Systems Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on flue gas treatment systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for flue gas treatment systems? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The flue gas treatment systems market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Flue gas treatment systems encompass various components such as bag filters, dry reactors, and multi-cyclones, which collectively capture pollutants to ensure compliance with stringent emission standards. These systems are particularly utilized in purifying gas derived from waste-to-energy processes before its release into the environment.
The primary control mechanisms within flue gas treatment systems include pollutant control systems, particulate control, flue gas desulfurization, denox, mercury control, and other related methods. Particulate control involves mechanisms that utilize physical separation methods rather than chemical ones, effectively capturing larger particle matter. Businesses engaged in this field encompass systems, services, and other related activities. These systems find application in various industries like power generation, cement production, iron and steel manufacturing, non-ferrous metal industries, chemical and petrochemical sectors, as well as other diverse industries such as glass manufacturing, pharmaceuticals, and pulp and paper production.
The flue gas treatment systems market research report is one of a series of new reports from The Business Research Company that provides flue gas treatment systems market statistics, including flue gas treatment systems industry global market size, regional shares, competitors with a flue gas treatment systems market share, detailed flue gas treatment systems market segments, market trends and opportunities, and any further data you may need to thrive in the flue gas treatment systems industry. This flue gas treatment systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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%. Historical growth can be attributed to the implementation of stringent emission regulations, the increasing awareness about environmental issues, challenges associated with coal combustion, health concerns related to emissions, the rise in gas-fired power plants, efforts to mitigate acid rain, and the ongoing trends of global industrialization.
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 anticipated growth in the forecast period is driven by the development of waste-to-energy plants, advancements in carbon capture and storage (CCS) technologies, the rising utilization of natural gas, efforts towards controlling particulate matter, and the integration of renewable energy sources. Major trends expected during this period encompass the adoption of air quality control technologies, ongoing technological advancements in the field, a heightened focus on circular economy practices, increased installations of scrubbers for emissions control, the implementation of digitalization and remote monitoring systems, the global expansion of flue gas desulfurization (FGD) systems, and the integration of green solutions within the industry.
The upsurge in construction and reconstruction activities is anticipated to drive the expansion of the flue gas treatment systems market. These endeavors encompass a wide spectrum of tasks involved in erecting, renovating, or equipping structures, roads, or related facilities. Flue gas treatment systems play a pivotal role in construction by curtailing emissions from processes like cement production, known to discharge approximately one ton of carbon dioxide into the environment. For instance, in 2022, the United States Census Bureau reported a significant increase in construction spending, estimated at $1,762.3 billion in June 2022 compared to $1,628.0 billion in June 2021. Over the first six months of 2022, construction spending surged by 10.7% to $848.2 billion, up from $766.0 billion for the same period in 2021. Hence, heightened construction and renovation undertakings are fueling the growth of the flue gas treatment systems market.
The amplification of liquefied natural gas (LNG) production is poised to elevate the flue gas treatment systems market. LNG production sites often involve combustion processes that yield emissions like nitrogen oxides (NOx) and carbon dioxide (CO2). Flue gas treatment systems are instrumental in curbing and regulating these emissions, aiding the industry in adhering to environmental standards. The rise in LNG production mandates the installation of efficient flue gas treatment systems, particularly in liquefaction plants, to manage combustion-related emissions. The U.S. Energy Information Administration revealed that the United States became the world's leading LNG exporter in the first half of 2022, with a 12% surge in LNG shipments compared to the second half of 2021. This surge underscores the pivotal role of flue gas treatment systems amid the burgeoning LNG production, thereby propelling market growth.
Technological advancements are a prominent trend driving the flue gas treatment systems market. Key industry players are heavily invested in pioneering technological solutions to fortify their market position. For instance, in November 2021, Wartsila Corporation unveiled its latest exhaust gas treatment system, the IQ Series, marking a significant milestone in maritime exhaust gas treatment technology. The IQ Series is a cutting-edge scrubber that achieves comparable exhaust gas cleaning results while occupying lesser space, exerting minimal impact on a vessel's cargo capacity and profitability. This innovative Wartsila scrubber is 25% smaller, 30% lighter, and 35% smaller in volume, offering an attractive compliance solution for ship owners and operators aiming for enhanced environmental compliance and operational efficiency.
Strategic collaborations are emerging as a pivotal strategy among major players in the flue gas treatment systems market to bolster their market standing. These collaborations entail cooperative alliances between entities aligned with mutual strategic objectives. For instance, Andritz, a global Austrian technology provider, recently joined forces with Skelleftea Kraft, a Swedish power company, to deploy a new flue gas treatment system in the latter's renewable power plant. This strategic partnership involves the replacement of the existing electrostatic precipitator (ESP) with an SIR-equipped ESP, aimed at substantially reducing emissions and power consumption. Andritz's commitment to environmental stewardship and optimization of biomass power generation underscores the significance of this collaborative initiative.
In April 2022, Axens SA, a technology, product, and service provider based in Spain, successfully acquired FlowVision. The financial details of this acquisition were not disclosed. This strategic acquisition specifically focuses on FlowVision's DeNOx business, aimed at enhancing Axens' Air Pollution Control portfolio. This integration empowers Axens to offer more robust and sustainable solutions to its clientele, intricately integrated with its existing processes and equipment. FlowVision, headquartered in Denmark, specializes in engineering emission abatement systems specifically designed to reduce nitrogen oxides in industrial flue gas. With this acquisition, Axens strengthens its capabilities in the realm of Air Pollution Control, leveraging FlowVision's expertise to advance its offerings and better cater to the environmental needs of various industries. This strategic alignment signifies Axens' commitment to providing comprehensive and sustainable solutions, solidifying its position as an innovative leader in the gas, petrochemical, and alternative fuel industries.
Major companies operating in the flue gas treatment systems market report are AMEC Foster Wheeler PLC, Babcock & Wilcox Enterprises Inc., Clyde Bergemann Power Group, FLSmidth & Company A/S, General Electric Company, Mitsubishi Hitachi Power Systems Limited, Thermax Limited, Babcock & Wilcox Construction Co. LLC, Siemens AG, Agilis Technology Ltd., Classifier Milling Systems Corporation, John Wood Group PLC, KSB SE & Co KGaA, Howden Group Limited, Sodimate Inc., B&W MEGTEC LLC, BASF SE, Bilfinger SE, Bionomic Industries Inc., CECO Environmental Corp., Durr AG, Electricite de France SA, Envirotherm GmbH, Fisia Babcock Environment GMBH, Fluor Corporation, Hitachi Zosen Corp., Neumann Systems Group Inc., Rheinisch-Westfalisches Elektrizitatswerk AG, Steag SCR-Tech Inc., Suez SA, Sulzer Chemtech Ltd., Tractebel Engineering SA, Veolia SA
Asia-Pacific was the largest region in the flue gas treatment systems market in 2023. The regions covered in the flue gas treatment systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the flue gas treatment systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The flue gas treatment systems market consists of sales of volatile organic compounds, dioxins, and furans. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.