The Global Flue Gas Treatment Systems Market size is estimated at US$ 20,660 million in 2022 and is projected to reach US$ 28,210 million by 2028 and registered with a CAGR of 5.56% between 2023 - 2028.
Flue gas treatment systems are majorly developed to control the emissions of various pollutants including fly ash, sulfur oxide, nitrogen oxide, and volatile organic compounds that may cause air pollution. Moreover, these systems are utilized by various end-user industries namely cement, iron, power, chemical, and petrochemical. In emerging economies majorly India, China, and Indonesia, the demand for cement has increased due to which the project based on infrastructure developments has also increased, which further drives the global flue gas treatment systems market growth in the upcoming years.
MARKET DRIVERS AND RESTRAINTS:
The global flue gas treatment systems market is predicted to rise due to increased construction and re-construction activities in both developed and developing countries, resulting in increased cement use and stricter government regulations on pollution and effluent emissions. Flue gas treatment is a method of removing or reducing pollutants and other harmful gases emitted by the combustion of fossil fuels at power plants, industrial facilities, manufacturing units, and other industrial facilities. When fossil fuels like kerosene, coal, natural gas, wood, diesel, and others are burnt to produce electricity or heat, they emit mercury, carbon dioxide, sulfur dioxide, sulfides, and other particles known as flue gases. The majority of these dangerous flue gases also contain nitrogen oxides. If flue gas from industrial buildings, manufacturing units, and power plants is not handled, it can contaminate the air in neighboring areas and spread further.
Moreover, the demand for cement is being driven by increased infrastructure projects such as flyovers, tunnels, bridges, dams, highways, and construction activity in the commercial sector. As a result, sulfur oxides and dioxides are released into the environment during cement manufacturing and pyro-stage combustion. However, installing flue gas treatment systems in cement factories has been discovered to reduce SOx emissions by 90%.
The global flue gas treatment systems market is likely to develop in the coming years as the population has become more aware of the advantages of using flue gas treatment technologies.
The extraction and use of fossil fuels emit around 22 billion tonnes of carbon dioxide into the atmosphere each year, and the volume of emissions is steadily increasing. As a result, new environmental rules to reduce VOC emissions have been enacted to identify, assess, and eliminate the root source of these emissions to save the environment. Therefore, this factor is projected to be one of the primary drivers of global flue gas treatment market growth in the upcoming years. Environmental rules have resulted in an implicit pollution tax that has been increased in recent years for US manufacturing enterprises. Manufacturers in many industrial verticals have been pushed to create product improvements and promote the cause of a clean environment and lower VOC emissions due to a strict regulatory framework.
Lack of product awareness and high installation and maintenance costs of flue gas treatment systems are two factors that could hinder revenue growth in the global flue gas treatment systems market.
Market Recent Developments:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022 – 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 - 2028 |
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CAGR |
5.56% |
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Segments Covered |
By Pollutant control system, Type of Business, End User, and Region. |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
General Electric, Mitsubishi Hitachi Power Systems Ltd., Babcock & Wilcox Enterprises Inc., Thermax Limited, Doosan Lentjes, FLSmidth, Siemens, Clyde Bergemann Power Group, Marsulex Environmental Technologies, AMEC Foster Wheeler, and Others. |
Market Segmentation:
The particle control segment accounted for the highest proportion of the flue gas treatment systems market based on the pollutant control system. Therefore, during the projection period, this market sector is expected to maintain its dominance. Moreover, the increased consumption of electrostatic precipitators and bag filters in various end-use industries, including power, cement, iron & steel, non-ferrous metal, and chemical & petrochemical, can be attributed to the increase in the particulate control segment of the growth of the flue gas treatment systems market.
On the other hand, during the forecast period, the mercury control sector of the flue gas treatment systems market is expected to develop at the fastest rate. Various technologies to limit mercury emissions are projected to promote the growth of the flue gas treatment systems market in multiple nations such as the United States, India, and China in the next six years.
Based on the types of business, the system segment is expected to lead the flue gas treatment systems market during the forecast period. The rising installation of new flue gas treatment systems and the upgrading of existing ones in several industries can be attributed to the expansion of this system segment of the market.
Based on End Users, the power segment is expected to lead the flue gas treatment systems market. The increasing number of coal-based power plants in countries such as China, Japan, Poland, and India and increased adherence to environmental rules by various businesses can be linked to expanding this section of the market in the upcoming years.
Market Regional Analysis:
The Global Flue Gas Treatment Systems Market Report includes the segmentation of Regions:
Around the world, the Asia Pacific area has the greatest market for flue gas treatment systems. The Asia Pacific flue gas treatment systems market is expected to rise due to the region's substantial industrial base and increasing demand for flue gas treatment systems from the cement and power industries. Additionally, multiple government initiatives in the Asia Pacific region to attract investments from various multinational firms are projected to fuel the growth of the Asia Pacific flue gas treatment systems market during the forecast period.
In North America, the market will be pushed by rapid industrialization and increased infrastructure. In the future years, the market will be aided by an increase in demand for power and dependence on coal. In addition, new participants will explore due to technological breakthroughs in high-performing equipment and lower costs.
The Europe region tends to hold significant global flue gas treatment systems market growth owing to the rising number of coal-fired power plants and a burgeoning chemical and petrochemical industry. Furthermore, as the region continues to urbanize, there is a greater demand for new infrastructure, which has raised the need for cement.
COVID-19 sickness began to flow over the world in the first half of 2020, infecting millions of people globally, and prompting major countries worldwide to impose foot prohibitions and work stoppage orders. As a result, most businesses, except medical supplies and life support products, have been severely disrupted, including the Flue Gas Treatment Systems industry. There were almost 20 million confirmed cases of COVID-19 worldwide as of the date of the study, and the pandemic has not been adequately controlled. Moreover, the government-issued several rules and regulations to people across the globe, which people could not come out since the spread of the coronavirus was going on. Therefore, the fuel gas treatment systems market faced a significant challenge during the pandemic.
Market Key Players:
The companies covered in the report include:
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