The implementation of new emission norms in industries will foster the flue gas desulfurization (FGD) market growth in the forthcoming years. The use of FGD systems will continuously check and reduce the pollutants from flue gases, which, further can cause chronic lung diseases. Regulatory bodies are also increasing their pressure on industries for reducing emission from their production processes. As a result, the implementation of such regulations further increases the demand for FGD systems as non-compliance will result in substantial penalties. This will further boost the FGD systems market growth in the upcoming years. analysts have predicted that the flue gas desulfurization system market will register a CAGR of over 6% by 2023.
Rise in number of refinery projects
One of the growth drivers of the global flue gas desulfurization system market is the rise in number of refinery projects. The rise in number of refinery projects will directly increase the demand for FGD system in refineries in the oil and gas industry, which is expected to propel the growth of the market during the forecast period.
Growing preferences for clean power generation
One of the challenges in the growth of the global flue gas desulfurization system market is the growing preferences for clean power generation. The focus on solar and wind power generation, which have been registering strong growth, also reduces the use of FGS system in power generation.
For the detailed list of factors that will drive and challenge the growth of the flue gas desulfurization system market during 019-2023, view our report.
The market appears to be moderately fragmented and with the presence of several market players. Many vendors in the market are deploying measures to solve the issues that are inherent to FGD systems. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.