Industrial Emission Control Systems Market

Industrial Emission Control Systems Market is estimated to reach US$ XX Mn by 2026 in terms of revenue at CAGR of XX % in the forecast period. Environmental concerns due to rapid industrialization along with the looming threat of global warming are posing serious issues for the development of a sustainable future. Global warming has become the focal point of global geopolitics. Industries across the globe have been working towards implementing emission control systems to adhere to the stringent regulations pertaining to the emission of harmful wastages that have a negative impact on the environment. Predominantly industries emit pollutants which include toxic materials such as NOx, Sox, VOCs, and particulate matter amongst other pollutants which are extremely harmful to the environment. A high proportion of these pollutants has led to serious health concerns as well. Emission control systems are extremely critical for the industries and selection of suitable devices lies at the helm due to nature of pollutant and industry where the devices are to be installed. Controlled emission in one way is achieved by periodic replacement of old devices. Traditionally power plants have installed devices which have a lifespan of around 10 to 15 years on a regular basis. The power generation industry has been a major contributor towards the industrial emission control systems market due to the replacement of older devices resulting in market growth. As the population continues to expand, the demand for energy is bound to increase especially in the emerging markets across the Asia Pacific and Africa region. The rapid industrialization is supported by the huge power generation plants along with infrastructure development activities supported by the cement, metal, chemical and petrochemicals sector. These development activities get the push from increasing international trade. As a result of low labor costs, the developing economies have gradually become manufacturing centers. These regions are expected to significantly contribute to Industrial Emission Control Systems Market share globally. Industrial Emission Control Systems Market is majorly segmented by the device, application, and region wise. Based on device segment electrostatic precipitators is expected to dominate the Industrial Emission Control Systems Market in 2017. Electrostatic precipitators are one of the most essential devices which are used to remove particulate matters. These devices are predominantly used in power plants, steel, paper and cement industries and are expected to witness a significant growth of over 6% by 2024. Under application segment power plants industrial emission control systems held the highest Industrial Emission Control Systems Market share. Power plants are one of the major pollutant emitting industry, where the harmful gases, corrosive acidic or basic streams, particles, and vapors have been damaging the nature. It is also the major industry where steps & precautions are majorly taken to control such emissions at the highest level. Asia-Pacific held the highest Industrial Emission Control Systems Market share in 2017 and is expected to have a higher growth rate in the forecast period. Increasing population coupled with industrial growth is likely to favor the Industrial Emission Control Systems Market in China. Government guidelines to reduce the emission content will positively affect the business. Key player across the Industrial Emission Control Systems Market industry are Johnson Matthey, BASF, Babcock & Wilcox Enterprises, Amec Foster Wheeler, and Mitsubishi Hitachi Power Systems. Cost competitiveness, regulatory conformance, distribution network and product differentiation are some of the crucial strategic assets to secure a competitive position across the industry.

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