The Stationary Catalytic Systems Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Stationary Catalytic Systems Global Market Report 2024, The stationary catalytic systems market size has grown strongly in recent years. It will grow from $4.77 billion in 2023 to $5.11 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to stringent environmental regulations, industrial expansion, increased focus on air quality, rising awareness of environmental issues, global energy consumption pattern, government incentives and subsidies.
The stationary catalytic systems market size is expected to see strong growth in the next few years. It will grow to $6.53 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to stricter emission standards, renewable energy integration, urbanization and industrialization trends, global efforts to combat climate change, public pressure and corporate social responsibility. Major trends in the forecast period include technological innovations, technological advancements, technological advancements in catalytic technologies, increased focus on energy efficiency, growing industrialization in emerging markets.
The increasing demand for clean energy sources is expected to propel the growth of the stationary catalytic systems market going forward. Clean energy sources refer to energy systems that generate energy produced using renewable, non-polluting, zero-emission resources and include energy conserved through energy-saving practices. Stationary catalytic systems are used in various clean energy sources to improve their efficiency and performance, and to reduce reliance on fossil fuels. For instance, in April 2021, according to the International Renewable Energy Agency (IRENA), a UAE-based intergovernmental organization, the capacity of the world’s renewable energy sources to generate electricity reached 3 064 gigawatts (GW) in 2021, adding 9.1% to the share of renewable energy. Further, in June 2023, according to the International Energy Agency, a France-based independent intergovernmental organization, global renewable capacity upgrades are expected to expand by 107 gigatons (GW) by 2023. Therefore, increasing demand for clean energy sources is driving the growth of the stationary catalytic systems market.
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The stationary catalytic systems market covered in this report is segmented –
1) By Technology: Selective Catalytic Reduction, Oxidation Catalyst
2) By Pollutant Type: Nox (Nitrogen Oxides), CO (Carbon Monoxide) Hydrocarbons, HAP (Hazardous Air Pollutants), DPM (Diesel Particulate Matter), NH3 (Ammonia)
3) By End-Use Industry: Chemical, Oil And Natural Gas, Power Plant, Metal And Mining, Cement, Other End-Use Industries
Major companies operating in the stationary catalytic systems market are adopting new technological solutions, such as alumina catalyst technology, to gain a competitive edge. Alumina catalyst technology is a type of heterogeneous catalysis that uses aluminum oxide (Al2O3) as the catalyst, and it is stable at high temperatures. It can be tailored to specific reactions by controlling their surface properties. For instance, in April 2021, Unifrax, a US-based provider of providing high-performance specialty materials, launched Eco-lytic, a fiber-based, nanostructured alumina catalyst technology for reducing vehicle emissions. This technology can reduce the mass of catalyst support media by up to 80% and lower platinum group metal loading by up to 40% compared to traditional systems. Eco-lytic is designed to replace existing technology in catalytic converters and improve the efficiency of gasoline, diesel, and hybrid vehicles. The adaptable design of Eco-lytic not only boosts productivity and lowers costs, but it also gives manufacturers and partners in the transportation sector innovative packaging choices. To fit the Eco-lytic product into spaces where traditional technologies cannot, Unifrax can customize its shapes and sizes to fulfill the needs of certain partners.
The stationary catalytic systems market report table of contents includes:
1. Executive Summary
- Stationary Catalytic Systems Market Characteristics
- Stationary Catalytic Systems Market Trends And Strategies
- Stationary Catalytic Systems Market – Macro Economic Scenario
- Global Stationary Catalytic Systems Market Size and Growth
. - Global Stationary Catalytic Systems Market Competitive Benchmarking
- Global Stationary Catalytic Systems Market Competitive Dashboard
- Key Mergers And Acquisitions In The Stationary Catalytic Systems Market
- Stationary Catalytic Systems Market Future Outlook and Potential Analysis
- Appendix
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