Growing Demand And Trends Of Flue Gas Desulfurization System Market To Receive Overwhelming Hike In Revenue That Will Boost Overall Industry Growth - Global Forecast 2033

The flue gas desulfurization system market size has grown strongly in recent years. It will grow from $19.59 billion in 2023 to $20.77 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to stringent environmental regulations, rising global focus on air quality, increased coal-fired power generation, public awareness and environmental activism, expansion of industrial manufacturing.

The flue gas desulfurization system market size is expected to see strong growth in the next few years. It will grow to $26.25 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to transition to renewable energy, market expansion for fgd by-products, government support for clean energy, increasing use of natural gas, focus on circular economy practices. Major trends in the forecast period include integration of digital technologies, shift towards dry fgd technologies, byproduct utilization, collaborations and partnerships, technological advancements in fgd systems.

Market Overview -
Flue gas desulfurization system refers to a device that removes sulfur dioxide (SO2) from the fuel gas emission produced from industrial combustion. It is mainly used for reducing SO2 emissions from industries.

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Surge In Coal-Fired Power Plants Drives Demand For Flue Gas Desulfurization Systems
The increasing number of coal-fired power plants is expected to propel the flue gas desulfurization system market. Coal-fired power plants refer to power stations that generate electricity by burning coal. The increasing number of coal-fired power plants requires flue gas desulfurization systems to reduce the emission of harmful gases. For instance, in August 2022, according to the U.S. Energy Information Administration, a US-based principal agency for collecting, analyzing, and disseminating energy information, published an article according to which in the US the coal-fired generation of power has increased by 16% to reach 898,679 GWh in 2021 . Therefore, the increasing number of coal-fired power plants is driving the growth of the flue gas desulfurization system market.

Competitive Landscape -
Major companies operating in the flue gas desulfurization system market report are Mitsubishi Heavy Industries Ltd., General Electric Company, Doosan Lentjes GmbH, Babcock & Wilcox Enterprises Inc., Rafako S.A, Siemens AG, FLSmidth & Co. A/S, Hamon Corporation, Marsulex Environmental Technologies Corporation, Thermax Limited, Ducon Technologies Inc., Clyde Bergemann Power Group, Andritz AG, Valmet Corporation, Hitachi Power Systems America Ltd., Chiyoda Corporation, China Energy Engineering Group Co. Ltd., Tri-Mer Corporation, Umicore, Veolia Water Technologies, Wärtsilä Corp., Wheelabrator Technologies Inc., Xcel Energy Inc., Yokogawa Electric Corporation, Zhejiang Feida Environmental Science & Technology, Zhejiang DunAn Artificial Environment, Zhejiang Shuanghuan Environmental Protection, Dürr AG, GEA Group AG

Ge's Collaboration With Apollo International For Advanced Wet Flue Gas Desulfurization System Design
Collaboration is a key trend in the flue gas desulfurization system market. Major players are associating themselves with various companies to sustain in the market. For instance, in January 2022, General Electric (GE), a US-based conglomerate, associated with Apollo International Limited for MB Power Madhya Pradesh Ltd to design the whole Wet Flue Gas Desulfurization (WFGD) system. The project entails the design, engineering, and supply of vital WFGD system components. Once completed, it will help the client clean 7.4 million cubic meters of flue gas per hour and eliminate 51,000 tons of SO2 annually.

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Key Segments -

The flue gas desulfurization system market covered in this report is segmented -

1) By Type: Wet FGD Systems, Spray Dry FGD System, Dry and Semi-dry FGD Systems
2) By Installation: Greenfield, Brownfield
3) By End-Use: Power Generation, Chemical, Iron and Steel, Metal Processing and Mining, Cement Manufacturing, Paper and Pulp, Other End Uses

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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