According to New Research Reports of Flue Gas Desulfurization (FGD) Market Expected to Reach $23.69 Billion by 2020
San Francisco, CA, August 20, 2014 --(PR.com
)-- The global market for flue gas desulfurization is expected to reach USD 23.69 billion by 2020, according to a new study by Grand View Research, Inc. Flue gas desulfurization market demand is expected to increase owing to growth in demand for electricity. In addition, stringent government regulations regarding emissions of harmful gases in the environment are also expected to drive the FGD market over the forecast period.
New FGD systems were the largest application segment accounting for USD 8.14 billion of global market revenue in 2013. Increasing number of coal-fired power plants in emerging economies is expected to be a key reason for high demand of new FGD systems. Flue gas desulfurization is also used in reagent & replacement applications, which were valued at USD 7.65 billion in 2013.
The report “Flue Gas Desulfurization Market Analysis By Technology (Wet FGD Systems, Dry FGD Systems), By Application (New Systems, Reagents & Replacements) And Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/flue-gas-desulfurization-market
Further key findings from the study suggest:
• Wet FGD systems dominated new FGD market and generated USD 6.86 billion in revenue in 2013 due to higher efficiency and low maintenance characteristics in comparison to other systems. Dry FGD systems are expected to witness the fastest growth, at an estimated CAGR of 5.5% from 2014 to 2020.
• Reagents & replacement is expected to be the fastest growing application, at an estimated CAGR of 6.9% from 2014 to 2020. Existing/old systems are expected to generate continuous demand for reagents and equipment replacement. This is expected to boost the equipment replacement systems market over the forecast period.
• Asia Pacific was the largest flue gas desulfurization market; it was valued at USD 8.52 billion in 2013 and is expected to witness the fastest growth, at an estimated CAGR of 10.2% from 2014 to 2020. The primary reason for expected growth is the high demand for new FGD systems along with rise in equipment repairs for existing FGD systems in emerging and high-growth markets of China, India, Japan, South Korea and Taiwan.
• Key companies in the market include Alstom S.A., Babcock & Wilcox, Siemens Energy, Thermax, Ducon Technologies Inc., Hamon Research-Cottrell, Mitsubishi Heavy Industries, and Marsulex Environmental Technologies.
For the purpose of this study, Grand View Research has segmented the global flue gas desulfurization market on the basis of technology, application and region:
• Flue Gas Desulfurization Technology Outlook (Revenue, USD Million, 2012 - 2020)
• Wet FGD Systems
• Dry FGD Systems
• Flue Gas Desulfurization Application Outlook (Revenue, USD Million, 2012 - 2020)
• New FGD Systems
• Reagents & Replacements
• Flue Gas Desulfurization Regional Outlook (Revenue, USD Million, 2012 - 2020)
• North America
• Asia Pacific
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit www.grandviewresearch.com.