Stationary Catalytic Systems Market is predicted to grow at more than 6% from 2016 to 2024.

Sellbyville, DE -- (SBWire) -- 02/12/2019 --Global awareness to maintain a green environment coupled with rising concerns over carbon emissions will spur stationary catalytic systems market over the forthcoming years. The governments of various countries are establishing stringent regulations to eliminate industrial emissions. For instance, strict norms such as National Ambient Air Quality Standards are imposed on firms in the U.S., which will act as a key driver to propel regional growth. As per Global Market Insights, Inc., "Stationary Catalytic Systems industry revenue, worth USD 3 billion in 2015, is slated to surpass USD 6 billion by 2024."

Stringent regulations towards industrial emission to reduce carbon emission will drive global stationary catalytic systems market. Retrofit and replacement program of existing coal fired boiler may favor the business growth in future. In 2012, China has replaced 400,000 MW capacity of coal fired boiler with SCR. Average life cycle of selective catalytic reduction catalyst ranges from three to five years.

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Metal applications are anticipated to record a CAGR of 5% over 2016-2024, driven by proliferating demand for steel across construction and automobile sectors. Stationary Catalytic Systems industry size in power plants, estimated at USD 1 billion in 2015, will grow considerably over the coming timeframe. The evolving need of power supply across the residential, commercial, and industrial sectors will accelerate the industry expansion.

Stationary Catalytic Systems find wide applications in Manufacturing, Cement, Metals, Power Plants, Petrochemicals & Chemicals, Refining, and Food sectors. Stationary Catalytic Systems Market share in Petrochemicals & Chemicals sector is slated to hit USD 700 million by 2024, due to high demand for petrochemical products across the globe. High infrastructural expansion across emerging economies is forecast to propel the business landscape over the next few years.

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Key insights from the report include:
- China stationary catalytic systems market size contributed over 30% of regional revenue share in 2015 and is expected to grow over 4%, subject to increasing implementation of coal fired power plants. As of 2016, China has over 900 GW of coal fired power plant and 200GW capacity coal fired plant under construction.

- Growing demand for construction and renovation of infrastructure will favor the India stationary catalytic system market growth in future. Government of India has aims to invest over USD 376 billion in infrastructure by 2019 which includes USD 120.49 billion for industrial and USD 75.30 billion for port, railway and road connectivity projects.

- Stationary catalytic systems market share from catalytic oxidation contributed 36% in 2015. Organic chemicals, resin and polymers & rubber production has its wide application which will positively encourage industry growth.

- Europe stationary catalytic systems market size is expected to witness growth with stringent government regulations for industry particulate emission. Germany contributed over 25% of regional revenue share in 2015 and is predicted to exceed USD 320 million by 2024.

Major industry participants include:
- Johnson Matthey
- DCL International Inc.
- Hamon Corporation
- BASF
- Babcock & Wilcox
- Amec Foster Wheeler
- Airclean Ltd.
- Ducon Technologies Inc.