Flue Gas Desulfurization System Market Size and Forecast 2024-2033|Mitsubishi Heavy Industries Ltd., General Electric Company, Doosan Lentjes GmbH, Babcock & Wilcox Enterprises Inc

Overview and Scope

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.

Sizing and Forecast

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.

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Segmentation & Regional Insights

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

Asia-Pacific was the largest region in the flue gas desulfurization system market share in 2023. The regions covered in the flue gas desulfurization system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

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.

Key Industry Players

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

The flue gas desulfurization system market report table of contents includes:

1. Executive Summary

2. Flue Gas Desulfurization System Market Characteristics

3. Flue Gas Desulfurization System Market Trends And Strategies

4. Flue Gas Desulfurization System Market – Macro Economic Scenario

5. Global Flue Gas Desulfurization System Market Size and Growth

26. South America Flue Gas Desulfurization System Market

27. Brazil Flue Gas Desulfurization System Market

28. Middle East Flue Gas Desulfurization System Market

29. Africa Flue Gas Desulfurization System Market

30. Flue Gas Desulfurization System Market Competitive Landscape And Company Profiles

Top Major Players: