PUBLISHER: The Business Research Company | PRODUCT CODE: 1546471
PUBLISHER: The Business Research Company | PRODUCT CODE: 1546471
An electrostatic precipitator (ESP) is a device designed to remove fine particles such as dust and smoke from a gas stream by utilizing an induced electrostatic charge. It functions by ionizing particles within the gas, causing them to adhere to charged collector plates. ESPs are extensively employed in industrial settings to mitigate air pollution and enhance air quality.
The primary components of an electrostatic precipitator include hardware for particle charging and collection, utilizing high-voltage electrodes, and control software for optimizing efficiency and performance through continuous real-time monitoring and adjustment. ESPs can be either plate-type or tubular in design, catering to various industries including power generation, chemicals, petrochemicals, cement, metal processing, mining, manufacturing, marine, and others.
The electrostatic precipitator market research report is one of a series of new reports from The Business Research Company that provides electrostatic precipitator market statistics, including electrostatic precipitator industry global market size, regional shares, competitors with a electrostatic precipitator market share, detailed electrostatic precipitator market segments, market trends and opportunities, and any further data you may need to thrive in the electrostatic precipitator industry. This electrostatic precipitator 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 electrostatic precipitator market size has grown strongly in recent years. It will grow from $7.00 billion in 2023 to $7.40 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth observed in the historic period can be attributed to factors such as stringent environmental regulations, economic expansion, government incentives promoting growth, supportive economic policies, and effective public-private partnerships.
The electrostatic precipitator market size is expected to see strong growth in the next few years. It will grow to $9.26 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The forecasted growth can be attributed to several factors, the development of natural gas infrastructure, expansion of refineries and petrochemical facilities, increasing demand for electricity, heightened health concerns prompting stricter environmental regulations, and a growing need for pollution control equipment. Key trends expected in this period include increased demand from the food processing industry, ongoing technological innovations, accelerated industrialization rates, expansion of power generation capacities, and the integration of Internet of Things (IoT) and Artificial Intelligence (AI) technologies into operations.
The electrostatic precipitator market is poised for growth driven by expansion in the industrialization and construction sectors. Industrialization involves large-scale manufacturing processes, while the construction sector focuses on building residential, commercial, and infrastructure projects. Global economic growth, technological advancements in automation, and increasing consumer demand for manufactured goods are fueling the demand for industrialization. As these sectors grow, effective environmental management becomes essential, making electrostatic precipitators vital for controlling pollutants and meeting regulatory standards. For example, in February 2022, the Office for National Statistics reported a 12.7% annual increase in the construction sector in 2021 compared to 2020, with monthly output rising by 2.0%, driven by new projects. This growth underscores the role of industrialization and construction in driving the electrostatic precipitator market.
Leading companies in this market are focusing on advancing technologies for emission control systems in the marine industry. The marine industry encompasses commercial and recreational activities on oceans, seas, and waterways. For instance, Valmet Oyj launched a new wet electrostatic precipitator (WESP) for the marine sector in May 2022. This technology enhances emission control, helping vessels reduce harmful particulate matter emissions from exhaust gases. It supports shipping companies in meeting emission targets and regulatory requirements amidst tightening environmental regulations.
In July 2021, Valmet Oyj acquired EWK Umwelttechnik, a Germany-based manufacturer of electrostatic precipitators. This acquisition strengthens Valmet's portfolio in emission control solutions, particularly in its Pulp and Energy business line. It enhances Valmet's capability to offer a wider range of technologies across industries, expanding solutions available to customers globally.
Major companies operating in the electrostatic precipitator market are Siemens AG, General Electric, Mitsubishi Hitachi Power Ltd., Sumitomo Heavy Industries Ltd., GEA Group Aktiengesellschaft, Valmet, John Wood Group PLC, Bharat Heavy Electricals Limited, FLSmidth Cement A/S, SEI-GROUP, Rieco Industries, SPX Corporation, Thermax Limited, Fujian Longking Co. Ltd., Balcke-Durr GmbH, Babcock & Wilcox Enterprises Inc., Ducon Technologies Inc., Monroe Environmental Corp., Envitech Inc., TSI Incorporated
Asia-Pacific was the largest region in the electrostatic precipitator market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the electrostatic precipitator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the electrostatic precipitator market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The electrostatic precipitator (ESP) market consists of revenues earned by entities by providing services such as design and engineering, installation, maintenance and repair, and upgrades or retrofitting of ESP systems. Additionally, entities may offer consulting services for optimizing ESP performance and ensuring compliance with environmental regulations. The market value includes the value of related goods sold by the service provider or included within the service offering. The electrostatic precipitator (ESP) market also includes sales of ESP units, spare parts, and components such as discharge electrodes, collection plates, transformers, rectifiers, and control systems. 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.
Electrostatic Precipitator 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 electrostatic precipitator 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 electrostatic precipitator ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electrostatic precipitator 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.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.