The Flue Gas Desulfurization (FGD) market is enhanced by the increased energy demand all over the world
Covid-19 Impact & Market Status
Due to travel prohibitions and business closures, the COVID-19 has had a negative impact on economies and businesses in a number of countries. The closure of various plants and factories has had a severe influence on global supply chains, negatively affecting manufacturing, delivery schedules, and product sales in the worldwide market. The flue gas desulfurization market had also been severely impacted like most of the other markets and the rise of the market was hampered due to the reduced demand for flue gas during this period as everything came to a standstill.
At a compound annual growth rate of 5.5%, the size of the worldwide Flue Gas Desulfurization market is projected to reach USD 31.03 Billion
Wet FGD System segment to be in High Demand
The Wet FGD System segment currently earns the highest revenue share in the market and is expected to continue in the same way during the analysis period due to the technology's high removal efficiency, federal government-set pollution requirements, rising electricity demand, and an increase in the number of coal-fired power plants in emerging economies. The system is highly efficient in removing SO2 and also, it’s by product gypsum uses limestone as a reagent. This might be marketed to the fertiliser sector, as well as cement and wallboard makers.
Power Generation segment to earn Highest Revenue
The power generation segment currently earns the highest revenue share in the market and is expected to continue in the same way during the analysis period due to the increased installation of power plants all over the world which has led to greater power generation. To protect the environment from such pollutants, several countries have enacted strict sulphur dioxide emission reduction legislation. As a result, power plants are implementing flue gas desulfurization (FGD) plants or units primarily to reduce sulphur dioxide emissions thus enhancing the power generation industry.
Asia Pacific to Dominate
Asia-Pacific currently earns the highest revenue share in the market and is predicted to continue in the same way during the analysis period as the region's high regulations and electricity production have resulted in greater demand from the power generation industry. The power generation industry consumed the most amount of FGD in these regions.
The market’s rise is also expected to be aided by the increasing use of FGD in various industries like cement industry, chemical industry etc.
Sulfur dioxide (SO2) is removed from flue gases generated by power plants using a variety of processes called flue gas desulfurization. Environmental laws aimed primarily at reducing excessive SO2 emissions are expected to drive up demand for flue gas desulfurization equipment. Flue gas desulfurization is becoming more popular in a variety of sectors.
The Flue Gas Desulfurization (FGD) market is expected to rise at a rapid pace from 17.5 in 2022 to about USD 25.8 billion by 2029 during the analysis period at a CAGR of 4.3 percent.
Market growth is likely to be boosted by rising electricity demand and large investments in thermal power plants in Asian countries. Rapid industrialization and strategic initiatives implemented by manufacturers are also predicted to fuel the market's expansion. Furthermore, technical developments in FGD system design are likely to give abundant market growth potential.
In the coming years, strict national and international rules requiring the installation of air filtration equipment in areas that release Sulphur dioxide (SO2) are projected to be important drivers for this industry. As the issue of reducing carbon and sulphur dioxide emissions became more apparent, all of the world's major industrialised nations enacted rules to address it.
The reduced number of coal power plants and also the huge operating costs and investments required are some of the major restraints for the flue gas desulfurization market.
The market is rising rapidly and consists of several big corporations like Rafko, Andritz Ag, Siemens, Mitsubishi Heavy Industries, General Electric, Doosan Lentjes etc.
Flue Gas Daeursulfiztion (FGD) Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 25.8 billion|
|Growth Rate||CAGR of 4.3% during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Rafko, Andritz Ag, Siemens, Mitsubishi Heavy Industries, General Electric, Doosan Lentjes etc & among others.|
Latest Innovations in the Flue Gas Desulfurization (FGD) Market: A Snapshot
- General Electric (GE) Steam Power secured a contract with NTPC Limited in India in July 2020 to deliver wet FGD systems for three coal-fired power stations. This is GE Steam Power's first order for a common absorber to be installed across numerous boiler units. By February 2023, this historic order should be finished. This will allow us to treat 8.4 million m3/hour of flue gas and remove 63,000 tonnes of SO2 per year, allowing us to meet the new SOx emission standards for thermal power plants.
- In November 2020, GE Power India announced on Monday that it has been awarded a contract to supply a NOx reduction system to NTPC's Barauni thermal power plant for Rs 12.78 crore. The project will assist the power plant in complying with the government's initiative to minimise emissions in order to improve overall air quality, according to the statement.
Key Segments of the Flue Gas Desulfurization (FGD) Market
Type Overview, 2022-2029 (USD Billion)
- Wet FGD System
- Dry & Semi-dry FGD Systems
Application Overview, 2022-2029 (USD Billion)
- Power Generation
- Iron and Steel
- Chemical Industry
Regional Overview, 2022-2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa