According to the new market research report “Flue Gas Treatment Systems Market by Pollutant Control System (Particulate Control, FGD, DeNOx, Mercury Control), Business Type (System, Service), End-Use Industry (Power, Cement, Iron & Steel), and Region - Global Forecasts to 2022”., published by MarketsandMarkets™, the flue gas treatment systems market is projected to grow from USD 53.30 Billion in 2017 to USD 69.11 Billion by 2022, at a CAGR of 5.3% from 2017 to 2022.
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The growth of the flue gas treatment systems market across the globe is fueled by the formulation and stringent implementation of various air pollution control regulations, generation of the marketable by-products from the flue gas treatment process, growth of the cement industry, and consideration of coal as the most reliable source of energy across the globe. The implementation of Mercury & Air Toxic Standards in the US, increase in the number of coal-fired power plants across the globe, and commercial deployment of post-combustion carbon capture equipment in various industries are some of the major opportunities expected to boost the growth of the flue gas treatment systems market during the forecast period.
The system business type segment is projected to lead the flue gas treatment systems market during the forecast period.
The system business type segment is projected to lead the flue gas treatment systems market between 2017 and 2022. The growth of this segment of the market can be attributed to the increasing awareness about various environmental regulations in emerging countries such as India, China, and Thailand, among others. Upcoming new power plants in various countries such as China, India, Poland, and Japan in the next decade are expected to boost the growth of the flue gas treatment systems market across the globe.
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The power end-use industry segment was the largest segment of the flue gas treatment systems market in 2016.
Flue gas treatment systems are used in various end-use industries such as power, cement, iron & steel, chemical & petrochemical, non-ferrous metal, and others. The growth of the power end-use industry segment of the flue gas treatment systems market can be attributed to the increased deployment of these systems in coal-based power plants as they are the major producers of pollutants such as sulfur dioxide, nitrogen oxide, and particulate matter. As such, various advanced emission control technologies are being developed to reduce emissions of pollutants from different industries, thereby leading to the growth of the flue gas treatment systems market across the globe.
The Asia Pacific region is projected to lead the flue gas treatment systems market between 2017 and 2022.
The Asia Pacific region is projected to lead the flue gas treatment systems market during the forecast period. Moreover, the Asia Pacific flue gas treatment systems market is projected to grow at the highest CAGR between 2017 and 2022. The growth of the Asia Pacific flue gas treatment systems market can be attributed to the increasing demand for flue gas treatment systems from various end-use industries such as power, cement, iron & steel, chemical & petrochemical, and non-ferrous metal, among others of the region. Moreover, increasing investments by manufacturers of flue gas treatment systems in the Asia Pacific region are also fueling the growth of the flue gas treatment systems market in the region.
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Some of the key players operating in the flue gas treatment systems market are General Electric (US), Babcock & Wilcox Enterprises, Inc. (US), Doosan Lentjes (Germany), Mitsubishi Hitachi Power Systems, Ltd. (Japan), FLSmidth (Denmark), and Thermax Limited (India). These companies have adopted major growth strategies such as acquisitions, expansions, and contracts & agreements between 2015 and 2017 to enhance their position in the flue gas treatment systems market.
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