FGD Market Size Worth $36.6 Billion By 2027 | CAGR: 4.8%

FGD Market Growth & Trends

The global flue gas desulfurization market size is anticipated to reach USD 36.6 billion by 2027 registering a CAGR of 4.8%, according to a new report by Grand View Research, Inc. Proliferating demand for electricity along with significant investments in thermal power plants in the Asian countries is expected to stimulate market growth over the coming years.

The share of coal in the power mix in Southeast Asia increased in 2018 and is anticipated to continue its growth over the forecast period. Indonesia, Vietnam, Bangladesh, and South Korea are expected to contribute 18.6% of the total coal-fired power plant pipeline projects in the near future, thereby stimulating the market growth over the forecast period.

Air pollution from coal-fired plants causes a serious risk to human health as these power plants to emit a large number of hazardous air pollutants. These air pollutants can cause numerous health effects, including lung and heart diseases, along with the damage to skin, eyes, brain, and breathing passages. Prolonged exposure could also affect learning, memory, and behavior.

A large number of national governments in Europe have announced their intention to phase-out coal by 2030. A total of 72,800 MW of coal power capacity, which is approximately 40% of Europe’s currently operational coal feet are on a pathway to closure by 2030. The plans of shutting down coal-fired power plants are expected to restrict market growth over the coming years.

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FGD Market Report Highlights

• Asia Pacific accounted for 74.8% of the global revenue in 2019 owing to the establishment of new coal plants in India and China

• The demand for wet FGD systems is estimated to witness a growth of 4.7% over the forecast period as they could provide removal efficiencies up to 99% and have the ability to remove oxidized mercury as well

• The demand for new systems is expected to grow at a CAGR of 5.3% owing to the rising concern towards air quality standards along with the increasing prevalence of respiratory issues associated with air pollution

• The components, consumables, and repair segment is expected to maintain its dominance over the forecast period on account of the high life cycle costs and frequent replacement of components

• The key companies operating in the industry include General Electric, Babcock & Wilcox Company, Chiyoda Corporation, Mitsubishi Hitachi Power Systems, Thermax, Fujian Longking Co., Ltd., Wuhan Kaidi Electric Power Environmental Co., Ltd.

FGD Market Segmentation

Grand View Research has segmented the global FGD market on the basis of product type, installation type, and region:

FGD Product Type Outlook (Revenue, USD Million, 2016 - 2027)

• Wet FGD Systems

• Dry & Semi-Dry FGD Systems

FGD Installation Type Outlook (Revenue, USD Million, 2016 - 2027)

• New Systems

• Components, Repairs, & Consumables

FGD Regional Outlook (Revenue, USD Million, 2016 - 2027)

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • Russia

  • The U.K.

• Asia Pacific

  • China

  • India

  • Japan

  • Indonesia

• Central & South America

  • Brazil

• The Middle East & Africa

  • South Africa

List of Key Players of FGD Market

• General Electric

• Babcock & Wilcox Company

• Chiyoda Corporation

• Mitsubishi Hitachi Power Systems

• Thermax

• Fujian Longking Co., Ltd.

• Wuhan Kaidi Electric Power Environmental Co., Ltd.