The flue gas desulphurization system market is on the rise, with a significant increase in value expected in the coming years. In 2021, the market was valued at USD 19.68 billion, and it is projected to grow at a CAGR of 5.5% from 2022 to 2030, reaching a value of USD 31.03 billion by 2030.
Flue gas desulphurization involves the process of removing sulfur compounds from the exhaust emissions of fossil fuel-powered power plants. This is achieved by adding absorbents that can extract up to 95% of sulfur dioxide from the flue gas. The two main types of flue gas desulphurization are dry and wet systems, with wet systems being more commonly used in the global market despite being more expensive than dry systems.
Key factors expected to drive the growth of the global flue gas desulphurization system market include the need to reduce sulfur dioxide emissions, government regulations on air pollution, and increased demand for FGD systems from various industries such as manufacturing, chemical, power generation, iron and steel, cement, and others.
The market is home to a mix of established players and new entrants, with major influencers including Andritz AG, Babcock & Wilcox Enterprises Inc., General Electric Company, and more. These companies play a crucial role in shaping the market landscape and driving innovation in the industry.
The market is segmented based on end-use, type, installation, and region. The power generation segment accounted for the largest portion of revenue in 2021, with coal-fired power plants being a significant source of sulfur pollution. This dominance is expected to continue due to the continued demand for power generation worldwide.
In conclusion, the flue gas desulphurization system market is on a growth trajectory, driven by various factors such as environmental regulations, industry demand, and technological advancements. With key players leading the way and a focus on innovation, the market is poised for significant expansion in the coming years.
For more insights and detailed analysis on the flue gas desulphurization system market, interested individuals can reach out to Polaris Market Research for comprehensive reports and industry expertise. Their global market research and consulting services provide valuable intelligence for businesses across various sectors, helping them make informed decisions and seize new opportunities in the market.
