LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global flue gas desulfurization market for thermal power plants to grow at a CAGR of over 5% during the forecast period, according to their latest market research report.
The technological upgrades in design is one of the major trends being witnessed in the global flue gas desulfurization market for thermal power plants 2018-2022. The power industry is governed by increasingly stringent environmental regulations. As a result, FGD systems are expected to operate at their peak efficiency and reliability. Power plant operators must install FGD systems that are compliant with the existing regulations while also ensuring that it does not impact their margins.
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According to Technavio analysts, one of the key factors contributing to the growth of the global flue gas desulfurization market for thermal power plants is the growing use of coal power generation:
Global flue gas desulfurization market for thermal power plants: Growing use of coal power generation
According to IEA, coal is the largest energy source globally, which accounted for 37% of the global power generation in 2017. The global coal power has grown significantly from 2010 to 2017, with an increase of 13.13%. This is because of the increase in global energy demand.
According to a senior analyst at Technavio, “According to IEA, the global demand for coal recovered in 2017, led by countries such as China, India, and the US. The rise in the demand for coal in 2017 is primarily because of the increase in the demand for coal-fired power generation, which was 3.5% compared with 2016. China’s coal-power increased by 6% because of the rise in electricity demand.”
Global flue gas desulfurization market for thermal power plants: Segmentation analysis
The global flue gas desulfurization market for thermal power plants research report provides market segmentation by product (wet FGD systems and dry FGD systems) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, wet FGD systems, and dry FGD systems, the wet FGD systems held the largest market share in 2017, contributing to over 82% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2017, accounting for close to 69% share, followed by EMEA and the Americas respectively. The region is expected to continue to dominate the market during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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