LONDON--(BUSINESS WIRE)--The global flue gas desulfurization (FGD) system market is poised to grow by USD 3.46 billion during 2019-2023, progressing at a CAGR of over 6% during the forecast period. Request Free Sample Pages
Read the 119-page research report with TOC on "Flue Gas Desulfurization System Market Analysis Report by Product (Wet FGD and Dry FGD), by Geography (APAC, Americas, Europe, and MEA), and Segment Forecasts, 2019 – 2023."
The market is driven by the rise in the number of refinery projects. In addition, the increasing preference for dry FGD technology is anticipated to further boost the growth of the flue gas desulfurization system market.
The rise in number of refinery projects will be one of the major drivers in the global flue gas desulfurization system market. Refineries convert raw crude oil into finished products and thus play an integral part of the oil and gas supply chain. However, refineries produce multiple harmful products and by-products. FGD systems are used to remove such gases to ensure a contaminant-proof environment for the refining process. Moreover, with the transportation sector growing due to the expansion of road and air networks, the demand for refined fuel is also rising. The need for energy security is also increasing investments in the refining sector. For instance, countries in the Middle East and Africa, Asia, and South America are seen investing in new greenfield refineries. All these factors will lead to an increase in the demand for FGD systems in refineries in the oil and gas industry, which will boost the market growth during the forecast period.
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Major Five Flue Gas Desulfurization System Market Companies:
Babcock & Wilcox Enterprises, Inc.
Babcock & Wilcox Enterprises, Inc. operates the business under various segments such as power, renewable, and industrial. The company offers semi-dry FGD, wet gas scrubbers Exxon process, wet FGD with lime/limestone slurry, and wet FGD with seawater.
GENERAL ELECTRIC operates the business under eight segments, which include power, aviation, lighting, renewable energy, healthcare, oil and gas, transportation, and capital. The company’s key offering includes the flowpac wet FGD system.
HAMON has business operations under various segments, namely cooling systems, air quality systems, and NAFTA. The company offers semi-dry FGD, wet gas scrubbers Exxon process, wet FGD with lime/limestone slurry, and wet FGD with seawater.
John Wood Group PLC (Amec Foster Wheeler)
John Wood Group PLC (Amec Foster Wheeler) operates the business under five segments, which include Asset solutions Americas; Asset solutions Europe, Africa, Asia & Australia; Specialist technical solutions; Environment & infrastructure solutions; and Investment services . The company offers wet FGD system, spray dry absorbers, and dry sorbent injection systems.
MITSUBISHI HEAVY INDUSTRIES, LTD. (MHPS)
MITSUBISHI HEAVY INDUSTRIES, LTD. (MHPS) operates the business under the following segments: power systems; industry and infrastructure; and aircraft, defense, and space. The company offers wet FGD system, spray dry absorbers, and dry sorbent injection systems.
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Flue Gas Desulfurization System Product Outlook (Revenue, USD Million, 2019 - 2023)
- Wet FGD
- Dry FGD
Flue Gas Desulfurization System Regional Outlook (Revenue, USD Million, 2019 - 2023)
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