Flue Gas Desulfurization Market for new FGD Systems (Wet and Dry FGD systems), Reagents and Replacement Applications - Global FGD Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2019
Albany, NY -- (SBWIRE) -- 01/13/2015 -- According to the new market research report published by Transparency Market Research "FGD Market for new FGD systems (Wet and Dry FGD systems), Reagents and Replacement Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2019," Global Flue Gas Desulfurization market was valued at USD 14.89 billion in 2012 and is expected to reach USD 22.18 billion by 2019, growing at a CAGR of 5.8% from 2013 to 2019.
The global FGD system types have various characteristics as per their use and application requirement in different areas of industries. The need for flue gas desulfurization (FGD) systems arises because power plants utilizing fossil fuel such as coal release sulfur dioxide with the flue gas. This gas has extremely harmful environmental effects such as acid rain. Hence, in order to remove sulfur dioxide from the flue gas, flue gas desulfurization (FGD) systems are extensively used in this process. These systems are equipped with the introduction of new stringent government policies and regulations that help to reduce harmful gaseous substances such as SO2 emission.
Owing to the increase in concentration of SO in the atmosphere, the rising concerns among different government organizations along with stringent environmental regulations is expected to boost the flue gas desulfurization market. Another major factor for the growth in this market is the rising electricity demand in the market. There is still a major dependence on coal for electricity production that helps in reducing the harmful effects of coal combustion.
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This market report analyzes the market size of FGD, in terms of revenue. The FGD market report provides data for all segments on a regional level for the forecast period 2012 to 2019. This market has been segmented on the basis of technology, application, and geography, in order to provide a holistic picture of the overall market.
Speaking of the major applications of the flue gas desulfurization market, these mainly include new FGD systems and reagents and replacement market. The reagents and replacement market holds a significant share in the FGD market. The new FGD systems are segmented into wet and dry FGD systems. In 2012, the wet FGD systems were the major technology used for the installation of FGD systems. It captured over 84% of the market shares and is expected to maintain dominance in the coming years, whereas, the dry FGD systems cost less as compared to wet FGD systems. However, they have higher maintenance cost with respect to wet FGD systems and occupy the rest of the new FGD systems market as well.
Another major factor that is contributing to the growth of this market is the worn out FGD components that need to be replaced yearly for a smooth running.
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In terms of geography, Asia-Pacific dominated the global FGD market in 2012. In the same year this market accounted for 54.38% of the overall market share. Other key regional markets in Asia-Pacific include China, Japan, India, Thailand and Indonesia. Owing to increase in electricity requirement due to the demand for coal fired power plants in the industry, all these regions are expected to witness a surge in FGD demand. Similarly, North America FGD market is estimated to reach USD 4.05 billion by 2019, while Europe FGD market is expected to grow at a CAGR of 2.8% from 2013 to 2019.
Some of the significant key market participants that deal in FGD include Alstom, Siemens Energy, Babcock & Wilcox, Hamon RC, Thermax, Ducon Technologies, Mitsubishi Heavy Industries (MHI) and Marsulex Environmental Technologies (MET).
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