The global Flue Gas Desulfurization System (FGD systems) market is projected to grow from USD 19.3 billion in 2021 to USD 24.9 billion by 2025, at a CAGR of 5.2% from 2021 to 2026. The Asia Pacific region dominated the FGD system market in 2020. The major drivers for the growth of the market in this region is the growth of the coal-fired power generation and cement manufacturing industries, among others. The market in this region is growing considerably and India is likely to be a major hotspot over the next five years.
Based on type, the wet FGD systems segment is projected to dominate the market through the forecast period. The growth of this segment can be attributed to its early commercial deployment in 1970 and its high efficiency in terms of SO2 removal. Moreover, the by-product of typical wet FGD systems, which use limestone as a reagent, is gypsum. This can be marketed to cement and wallboard manufacturers and the fertilizer industry. However, between 2021 and 2026, the semi-dry FGD system segment is projected to grow at a higher rate than wet FGD systems, as in the same plant size, dry & semi-dry FGD systems are cheaper than wet FGD systems. Low cost is the prime reason for the adoption of dry & semi-dry FGD systems worldwide.
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Based on end-use industry, the power generation segment is projected to dominate the global FGD market through the forecast period. This segment is projected to be the fastest-growing. Coal-fired power plants are the major source of sulfur pollutants, due to the usage of high sulfur content coals in power plants. The huge base of coal-fired power plants around the globe is the primary reason for the dominance of the power generation segment over others.
Key players operating in the FGD systems market include Mitsubishi Heavy Industries Group (Japan), General Electric Company (US), Andritz AG (Austria), Doosan Lentjes GmbH (Germany), Babcock & Wilcox Enterprises Inc. (US), Rafako S.A. (Poland), FLSmidth & Co. (Denmark), Hamon Group (Belgium), Marsulex Environmental Technologies (US), and Thermax Group (India), have adopted agreements, expansions, innovative technology research, and new product development as their key growth strategies. The other noteworthy players in this market are Ducon Technologies Inc. (US), Chiyoda Corporation (Japan), China Boqi Environmental (Holding) Co. Ltd. (China), LAB S.A. (France), Valmet Corporation (Finland), Kawasaki Heavy Industries Group (Japan), Macrotek Inc. (Canada), China Everbright International Ltd. (China), AECOM (US), Burns & McDonnell (US), Rudis Trbovlje (Slovenia), Steinmuller Engineering GmbH (Germany), Shandong Baolan Environmental Protection Engineering Co. Ltd. (China), IDE Technologies (Israel), and KC Cottrell (South Korea). These players have adopted strategies such as expansions, agreements, and new product development to enhance their position in the market.
Top 3 Players in the FGD Systems Market:
MITSUBISHI HEAVY INDUSTRIES (MHI)
MHI is the market leader in the global flue gas desulfurization systems market. It has extensive product offerings in the FGD systems market and holds strong position in all key end use industries. It has good hold in the Asia Pacific market competition strongly with Kawasaki Heavy Industries, Doosan, and other Asian players.
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General Electric Company (USA)
In 2020, the company manufactures and sells flue gas desulfurization systems and sell it in all key end use industries including, power generation, chemical plant, iron & steel manufacturing, cement manufacturing, and others. The company’s wide range of product offerings in Air Quality Control Systems makes it highly competitive in this market.
Andritz AG (Austria)
Andritz AG has extensive product offering in the global FGD systems market. It manufactures and sells both Dry Flue Gas Cleaning System and Wet Flue Gas Cleaning System in all the key end use industries. In July 2021, Andritz bought parts of GE’s Air Quality Control Systems, including FGD Systems. It also acquired patents, trademark, and other references from GE, though it allowed GE to continue to serve certain countries with FGD products to it’s existing customers in India, Sri Lanka, Bangladesh, the US and Canada under the license from Andritz.
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