Electrostatic Precipitator Market size estimation to reach USD 18 billion by 2024


Posted October 24, 2016 by rahulvarpe

Electrostatic Precipitator Market size was valued at USD 8.5 billion in 2015, and will grow at over 9% CAGR estimation to reach USD 18 billion by 2024.

 
Electrostatic Precipitator Market size was valued at USD 8.5 billion in 2015, and will grow at over 9% CAGR estimation to reach USD 18 billion by 2024.

Rising environmental, safety, and health concerns in reducing air pollution will fuel industry growth through 2024. Factors, such as low operational cost, high efficiency, and the ability to operate across wide temperature ranges, will catalyze electrostatic precipitator market size.

These products offer high efficiency & capability to handle large gas volumes at extreme temperatures and also provide coal-fired power plants with a performance boost. Effective use of these products helps in preventing water & soil acidification, respiratory or cardiovascular diseases, cancer and fertility problems, and ground level ozone. This will play a vital role in various heavy industries, such as steel mills, cement plants, and thermal power stations, over the forecast timeline.

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The industry is predicted to witness potential opportunities owing to rising thermal power plant construction & renovation across the globe. In addition, attributes offered by these systems, such as silent operation and high response time, catalyze the product demand.The escalating need for reducing air pollution levels and stringent environmental norms could be a key reason for its penetration across developed and developing nations.

High raw material cost and initial investment required to manufacture and install these devices could hamper electrostatic precipitator market size over the next eight years. In addition, tremendous maintenance requirements associated with these systems may negatively impact the product demand. The U.S. Environmental Protection Agency (EPA) has developed many regulatory guidelines and emission parameters pertaining to the device usage in various industrial applications such as coal-fired boilers.

Wet electrostatic precipitators are the preferred technology owing to their substantial operational efficiency with saturated gas conditions and gas moisture. It can be designed as horizontal or vertical flow configurations based on the cost and arrangement required.

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Asia pacific electrostatic precipitator market is predicted to experience a substantial growth owing to the rising demand for device installation in industrial boilers and other machinery. Increasing construction of power plants across the region will also fuel product demand over the forecast timeline. China is expected to contribute a major industry share owing to the presence of a large number of manufacturing industries across the region.

U.S. electrostatic precipitator market share is forecast to witness consistent growth due to strict government policies for reducing environmental pollution throughout the region. Escalating industrial investments that focus on the improvisation of gas filtration efficiency in the U.S. will drive product demand from 2016 to 2024.

The Europe electrostatic precipitator market size may witness moderate growth prospects due to decreasing industrial revenues in coal-fired generators as well as steel mills.

Key players in the global electrostatic precipitator market include Babcock & Wilcox., Balcke-Durr, Alstom, Siemens, Trion, Total Air Pollution Control, and Clean Tunnel Air International. Rising focus on research and development while manufacturing superior products by industry players may offer a competitive edge over the forecast period.

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Issued By Rahul varpe
Country United States
Categories Business , Construction , Industry
Tags Electrostatic Precipitator Market , Electrostatic Precipitator Market size , Electrostatic Precipitator Market share , Electrostatic Precipitator Market report , Electrostatic Precipitator , Electrostatic Precipitator Industry , Electrostatic Precipitator industry share
Last Updated October 24, 2016