Flue Gas Desulfurization (FGD) Market Size (2024 - 2029)

The flue gas desulfurization system market is anticipated to experience growth driven by increasing awareness of air pollution and environmental degradation. Despite challenges such as industrial sector slowdowns in key regions and the rising share of renewables in power generation, which reduces flue gas production, the market is poised for expansion. The power generation industry is expected to dominate the market due to the need for sulfur reduction from flue gases, particularly from coal and gas-based plants. The Asia-Pacific region is projected to hold a significant market share, supported by its manufacturing base and growing power demand.

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Market Size of Flue Gas Desulfurization (FGD) Industry

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Flue Gas Desulfurization FGD Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
CAGR 4.80 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Flue Gas Desulfurization FGD Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Flue Gas Desulfurization Market Analysis

The flue gas desulfurization (FGD) is expected to grow at a CAGR of over 4.80% during the forecast period of 2020 - 2025. Rising awareness about air pollution, owing to the increasing global warming and environmental degradation is attributed to drive the demand of flue gas desulphurization, globally. However, the industrial sector slowdown in some of the major regions as Asia-Pacific and North America is acting as restraint in flue gas desulfurization market. Additionally, the significantly increasing share of renewables in the power generation capacity, globally, which reduces the generation of flue gases and hence leading to the decrease in the demand for flue gas desulfurization.

  • The power generation industry is expected to have the maximum share in the flue gas desulfurization market, in 2018, owing the need for reduction of sulfur from the large scale generated flue gases from the coal and gas based power plants.
  • The imposition of IMO 2020, from January 2020, globally is expected to act as an opportunity in the market of flue gas sulfurization market.
  • Asia-Pacific is estimated to have the maximum share of the flue gas desulfurization market, in 2018. Additionally, the growth rate of the Asia-Pacific region is expected to be the highest during the forecast period, primarily due to the presence of manufacturing base in the emerging economies, such as China and India, and the faster growing demand for power over the forecast period.

Flue Gas Desulfurization Industry Segmentation

The flue gas desulfurization (FGD) market report include:

Type
Dry FGD
Wet FGD
End-User Industry
Power Generation
Cement
Chemical
Iron and Steel
Other End-User Industries
Geography
North America
Europe
Asia-Pacific
South America
Middle-East and Africa
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Flue Gas Desulfurization (FGD) Market Size Summary

The flue gas desulfurization (FGD) system market is poised for growth, driven by increasing global awareness of air pollution and environmental degradation. This demand is particularly strong in the power generation sector, where the need to reduce sulfur emissions from coal and gas-based power plants is critical. However, the market faces challenges due to the slowdown in industrial activities in key regions like Asia-Pacific and North America, as well as the rising share of renewable energy sources, which diminishes the need for FGD systems. The implementation of international regulations, such as IMO 2020, presents new opportunities for market expansion, especially in regions with significant coal-based power generation.

Asia-Pacific is expected to dominate the FGD market, with the highest growth rate anticipated during the forecast period. This growth is fueled by the region's burgeoning industrial activities and the increasing demand for power, particularly in emerging economies like China and India. Despite the global trend of shutting down coal-based power plants in developed regions, developing countries continue to invest in coal power due to its cost-effectiveness and abundance. Additionally, the cement manufacturing sector in Australia contributes to the rising demand for FGD systems. The market is characterized by partial fragmentation, with key players including Andritz AG, Mitsubishi Hitachi Power Systems Ltd, Thermax Ltd, John Wood Group PLC, and Babcock & Wilcox Enterprises Inc.

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Flue Gas Desulfurization (FGD) Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, until 2025

    3. 1.3 Government Policies and Regulations

    4. 1.4 Recent Trends and Developments

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

    8. 1.8

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Dry FGD

      2. 2.1.2 Wet FGD

    2. 2.2 End-User Industry

      1. 2.2.1 Power Generation

      2. 2.2.2 Cement

      3. 2.2.3 Chemical

      4. 2.2.4 Iron and Steel

      5. 2.2.5 Other End-User Industries

    3. 2.3 Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia-Pacific

      4. 2.3.4 South America

      5. 2.3.5 Middle-East and Africa

Flue Gas Desulfurization (FGD) Market Size FAQs

The Flue Gas Desulfurization (FGD) Market is projected to register a CAGR of greater than 4.80% during the forecast period (2024-2029)

Andritz AG , Mitsubishi Hitachi Power Systems Ltd , Thermax Ltd , John Wood Group PLC and Babcock & Wilcox Enterprises Inc are the major companies operating in the Flue Gas Desulfurization (FGD) Market.

Flue Gas Desulfurization Systems Market Report Snapshots

Flue Gas Desulfurization System Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)