Global Flue Gas Desulfurization Market 2023-2030
Market Outlook
Based on Triton’s report, the global market for flue gas desulfurization is evaluated to progress with a CAGR of 4.93% during the forecast period 2023-2030.
Factors such as stringent emission norms, rising airborne disease, and the impact of Sulphur dioxide on the environment drive the flue gas desulfurization market.
SO2, a significant air pollutant released during the combustion of fossil fuels, notably coal and oil, has adverse effects on the environment and public health when discharged into the atmosphere. As the imperative to address these issues intensifies, FGD systems play a crucial role in mitigating these emissions, aligning with the growing need to adhere to stringent environmental regulations and promote a healthier environment.
However, industrial slowdowns, rising dependence on renewable energy, and high initial investment restrict the expansion of the flue gas desulfurization market.
Regional Outlook
The global flue gas desulfurization market covers Latin America, Europe, North America, Asia-Pacific, and the Middle East and Africa regions.
Asia-Pacific is estimated to emerge as the fastest-growing region in the FGD market. In response to escalating environmental concerns, governments in the region are implementing stricter air pollution regulations. This has led to a growing demand for FGD systems designed to reduce sulfur dioxide (SO2) emissions from industrial facilities and coal-fired power plants. The expanding industrial sector in the Asia-Pacific has also contributed to heightened emissions of SO2 and other pollutants, further driving the flue gas desulfurization market.
Competitive Outlook
The well-known companies in the flue gas desulfurization market are Flsmidth AS, Ducon Technologies Inc, Babcock & Wilcox Enterprises Inc, General Electric Company, Andritz AG, Doosan Lentjes GmbH, Chiyoda Corporation, Thermax Ltd, John Wood Group Plc, Fujian Longking Co Ltd, Kawasaki Heavy Industries Ltd, Hamon Group, Marsulex Environmental Technologies, Rafako SA, and Mitsubishi Hitachi Power Systems Ltd.
General Electric Company is an industrial conglomerate providing financial services and a diverse array of industrial equipment. Its extensive portfolio encompasses aircraft engines, oil and gas production machinery, power generation technology, medical imaging devices, and financial and industrial solutions. In addition, GE caters to a broad spectrum of industries, including oil and gas, telecommunications, water, mining, transportation, aerospace, power, metals, and healthcare. It has a global business footprint spanning the Americas, Europe, Asia, and Middle East and Africa.