Global Industrial Emission Control Systems Market – Global Industry Analysis and Forecast
Global Industrial Emission Control Systems Market was valued US$ 13.34 Bn in 2017 and is estimated to reach US$ 24.45.01 Bn by 2026 at a CAGR of about 7.67% in the forecast period.
Environmental concerns due to rapid industrialization along with the looming threat of global warming are posing serious issues for the development of a sustainable future. Global warming has become the focal point of global geopolitics. Industries across the globe have been working toward implementing emission control systems to adhere to the stringent regulations pertaining to the emission of harmful wastages that have a negative impact on the environment. Predominantly industries emit pollutants which include toxic materials such as NOx, Sox, VOCs, and particulate matter amongst other pollutants which are extremely harmful to the environment. A high proportion of these pollutants has led to serious health concerns as well.
Emission control systems are extremely critical for the industries and selection of suitable devices lies at the helm due to nature of pollutant and industry where the devices are to be installed. Controlled emission in one way is achieved by periodic replacement of old devices. Traditionally power plants have installed devices which have a lifespan of around 10 to 15 years on a regular basis. The power generation industry has been a major contributor to the industrial emission control systems market due to the replacement of older devices resulting in market growth.
As the population continues to expand, the demand for energy is bound to increase especially in the emerging markets across the Asia Pacific and Africa region. The rapid industrialization is supported by the huge power generation plants along with infrastructure development activities supported by the cement, metal, chemical and petrochemicals sector. These development activities get the push from increasing international trade. As a result of low labor costs, the developing economies have gradually become manufacturing centers. These regions are expected to significantly contribute to Industrial Emission Control Systems Market share globally.Industrial Emission Control Systems Market Industrial Emission Control Systems Market is majorly segmented by the device, application, and region wise. Based on device segment electrostatic precipitators is expected to dominate the Industrial Emission Control Systems Market in 2017. Electrostatic precipitators are one of the most essential devices which are used to remove particulate matters. These devices are predominantly used in power plants, steel, paper, and cement industries and are expected to witness a significant growth of over 6% by 2024.
Under application segment power plants industrial emission control systems held the highest Industrial Emission Control Systems Market share. Power plants are one of the major pollutant emitting industry, where the harmful gases, corrosive acidic or basic streams, particles, and vapors have been damaging nature. It is also the major industry where steps & precautions are majorly taken to control such emissions at the highest level.
Asia-Pacific held the highest Industrial Emission Control Systems Market share in 2017 and is expected to have a higher growth rate in the forecast period. Increasing population coupled with industrial growth is likely to favor the Industrial Emission Control Systems Market in China. Government guidelines to reduce the emission content will positively affect the business.
Key player across the Industrial Emission Control Systems Market industry are Johnson Matthey, BASF, Babcock & Wilcox Enterprises, Amec Foster Wheeler, and Mitsubishi Hitachi Power Systems. Cost competitiveness, regulatory conformance, distribution network, and product differentiation are some of the crucial strategic assets to secure a competitive position across the industry.
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Global Industrial Emission Control Systems Market Scope:
Global Industrial Emission Control Systems Market By Device
- Electrostatic Precipitators
- Catalytic Systems
Global Industrial Emission Control Systems Market By Application
- Power Plants
- Chemicals and Petrochemicals
Global Industrial Emission Control Systems Market By Geography
- North America
- Middle East & Africa
- Latin America
Key Players operating in the Global Industrial Emission Control Systems Market:
- Johnson Matthey
- Babcock & Wilcox Enterprises
- Amec Foster Wheeler
- Mitsubishi Hitachi Power Systems
- Ducon Technologies
- General Electric Company
- CECO Environmental Corp
- Thermax Ltd
- APC Technologies
- Auburn Systems
- Air Clean LLC
- Fujian Longking Co
- Hamon Corporation
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the current Industrial Emission Control Systems Market outlook. The report encompasses the industrial emission control systems market by different segments and region, providing the in-depth analysis of the overall industry ecosystem, useful for taking an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Industrial Emission Control Systems Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain the Industrial Emission Control Systems Market positioning of competitors.
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