Global Flue Gas Desulfurization (FGD) Market to Cross $ 12 Billion by 2024
Growing awareness about environmental pollution coupled with stringent government norms to drive global flue gas desulfurization (FGD) market through 2024
According to TechSci Research report, “Global Flue Gas Desulfurization (FGD) Market By Installation, By Type, By End User, By Region, Competition, Forecast & Opportunities, 2024”, global flue gas desulfurization (FGD) market is projected to reach $ 12.16 billion by 2024, on the back of stringent government regulations related to the emissions of harmful gases by various industrial processes in the environment. Increasing concerns worldwide regarding environmental pollution, growing prevalence of airborne diseases and implementation of various environmental laws and regulations in different countries are the major factors that would have a positive impact on global FGD market. Moreover, there is a rising demand for FGD systems from the power generation, chemical, iron & steel, and cement manufacturing industries, thereby further fueling the FGD market across the globe.
By end user, global flue gas desulfurization (FGD) market has been categorized into power generation, chemicals, iron & steel, cement manufacturing and others. Among the end users, power generation category is expected to account for majority share in the global FGD market in coming years, majorly due to increasing demand for power. Asia-Pacific FGD market dominated global flue gas desulfurization (FGD) market in 2018 and is expected to maintain its leading position in coming years, backed by ongoing industrialization in the region. Demand for FGD would continue to increase during forecast period, owing to the growing use of cement and other materials. Moreover, stringent government regulations related to the treatment of flue gases, which mostly contain harmful pollutants, before releasing them to the environment is bolstering the market for flue gas desulfurization in the region.
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“Major factors contributing to the growth of global flue gas desulfurization market are growing prevalence of airborne diseases, implementation of environmental laws and regulations and rising concerns related to environmental pollution. Increasing demand for FGD systems from chemicals, power generation, cement manufacturing, iron & steel and other industries is expected to propel the flue gas desulfurization market growth, globally, over the course of next five years.”, said, Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Flue Gas Desulfurization (FGD) Market By Installation, By Type, By End User, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global flue gas desulfurization (FGD) market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global flue gas desulfurization (FGD) market.
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